RBI to withdraw Rs. 2000 notes by Sept 30, will remain legal tender
May 20, 2023, at 02:30 am
New Delhi/IBNS: The Reserve Bank of India Friday announced that it will withdraw Rs.2,000 notes from circulation and people can exchange or deposit them in their bank accounts by Sept 30.
RBI allows SBI Funds Management to buy 9.99% stake in HDFC Bank
May 18, 2023, at 03:06 am
Mumbai: The Reserve Bank of India (RBI) has granted permission to SBI Funds Management (SBIMFL) to acquire a stake of up to 9.99 percent in terms of paid-up share capital or voting rights of HDFC Bank, the bank said in an exchange filing on Wednesday.
Banks seek one more year to implement new loan provisioning system
May 17, 2023, at 06:42 am
Mumbai: Banks have appealed to the RBI for an additional year to implement the Expected Credit Loss (ECL) system for loan provisioning, said media reports.
Russian companies investing rupee surplus in Indian govt bonds: Report
May 17, 2023, at 06:27 am
Mumbai: According to the Indian Banks' Association (IBA), Russian banks and companies with trade surpluses from Indian lenders are using the rupee funds to invest in domestic government debt, Reuters reported.
Reliance General Insurance to accept Central Bank Digital Currency through YES Bank
Apr 27, 2023, at 05:19 am
Mumbai: Reliance General Insurance has tied up with YES Bank to facilitate the collection of premiums in the digital mode using the bank’s e₹ platform, the company said in a statement.
Banks and financial institutions welcome RBI's 'surprise' move to pause repo rate hike for now
Apr 07, 2023, at 05:22 am
Mumbai/IBNS: The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) on Thursday decided to keep the repo rate unchanged at 6.5%. This came as a big relief as most experts had opined that the apex bank should take a pause amid global economic uncertainties and the economy has reached a saturation point beyond which it may be difficult to absorb any more rate hikes.
In relief for borrowers, RBI keeps repo rate unchanged at 6.5%
Apr 06, 2023, at 05:07 pm
Mumbai/UNI: In a respite for borrowers, the Reserve Bank of India's (RBI) monetary policy committee (MPC) on Thursday decided to keep the policy repo rate unchanged at 6.5 per cent.
RBI MPC meet: Rate setting panel to announce decision on key lending rates on Thursday
Apr 06, 2023, at 05:57 am
Mumbai: The Reserve Bank of India is expected to declare another increase in interest rates on Thursday, as part of its bi-monthly review of monetary policy, said reports.
India, Malaysia can now settle their trade in Indian Rupee
Apr 02, 2023, at 07:20 am
New Delhi: India and Malaysia can now settle their trade in Indian Rupee (INR) in addition to the current modes of settlement in other currencies, the government announced on Saturday.
RBI announces dates for first MPC meeting for FY24
Mar 25, 2023, at 06:03 am
Mumbai/IBNS: The Reserve Bank of India on Friday released the schedule of the meeting of its Monetary Policy Committee (MPC) for the upcoming financial year (FY24).
PM Modi congratulates RBI Governor Shaktikanta Das for ‘Governor of the year’ award
Mar 18, 2023, at 07:52 am
Prime Minister Narendra Modi Friday congratulated RBI Governor Shaktikanta Das for receiving the ‘Governor of the year’ award in the Central Banking Awards 2023.
India's forex reserve drops to 3 month low of $560 billion
Mar 18, 2023, at 06:17 am
Mumbai: India's foreign exchange reserves dropped to $560 billion in the week ending on March 10, the lowest since the beginning of December, showed Reserve Bank of India's statistical supplement published on Friday.
RBI injects Rs 1.1 trillion in largest infusion since Apr 2019
Mar 18, 2023, at 03:57 am
Mumbai: The Reserve Bank of India injected Rs 1.1 trillion into the system on Thursday, marking the largest single-day liquidity infusion since April 24, 2019. This comes amid onset of corporate advance taxes leading to significant outflows from the banking system
Mar 11, 2023, at 02:38 am
Mumbai: India's foreign exchange reserves increased for the first time in five weeks and reached $562.40 billion as of the week ended March 3, according to the Reserve Bank of India's (RBI) statistical supplement released on Friday.
Forex reserves contract by $325 million to $560.94 billion in week ended Feb 24
Mar 04, 2023, at 06:27 am
Mumbai: India’s foreign exchange reserves decreased by $325 million, bringing the total down to $560.94 billion for the week ended February 24th.
RBI slaps Rs 3.06 cr penalty on Amazon Pay (India) for non-compliance of rules
Mar 04, 2023, at 01:04 am
Mumbai: The Reserve Bank of India Friday said it has fined Amazon Pay (India) Private Ltd more than Rs 3.06 crore for not adhering to certain rules regarding Prepaid Payment Instruments (PPIs) and the Know Your Customer (KYC) directive.
RBI grants in-principle authorisation for 32 existing online payment aggregators
Feb 16, 2023, at 05:05 am
Mumbai/IBNS: The Reserve Bank of India (RBI) Wednesday said it has granted in-principle authorisation for 32 existing payment aggregators to act as online payment aggregators.
RBI to launch pilot project on QR code-based coin vending machines
Feb 09, 2023, at 07:52 am
Mumbai: Reserve Bank of India (RBI) Governor Shaktikanta Das said on Wednesday that the apex bank would launch a pilot project on QR code-based coin vending machines (QCVM).
RBI hikes repo rate by 25 bps to 6.5 %, pegs FY24 inflation at 5.6%: Experts react
Feb 09, 2023, at 03:04 am
Mumbai/IBNS: The Reserve Bank of India on Wednesday hiked the repo rate by 25 basis points to 6.50 percent in line with the expectations of the experts. However, it didn’t indicate an end to tightening its stance contrary to the market expectations.
RBI increases repo rate to 6.5 pct
Feb 08, 2023, at 03:50 pm
Mumbai: RBI Governor Shaktikanta Das on Wednesday announced the decision to hike repo rate by 25 basis points to 6.5 percent.
RBI to announce first monetary policy of 2023 on Feb 8
Feb 08, 2023, at 06:59 am
Mumbai: Reserve Bank of India (RBI) Governor Shaktikanta Das will announce the first monetary policy of 2023 on February 8.
Blockchain Technology one of many promising technologies: RBI
Feb 08, 2023, at 03:30 am
New Delhi/IBNS: The Reserve Bank of India (RBI) has informed that Blockchain Technology (BCT) is one of many promising technologies and its usefulness will depend on how it is adopted and adapted to a wide array of uses, the Ministry of Finance said on Tuesday.
MeitY asks app stores to filter out unregulated digital lenders
Feb 08, 2023, at 02:59 am
New Delhi/IBNS: The Ministry of Electronics & Information Technology (MeitY) has shared a list of Digital Lending Apps (DLAs) being used by Regulated Entities (REs) with the app stores, requesting them to not feature lending apps other than those mentioned in the list, the finance ministry said in the Parliament on February 7.
Global economy likely to shrink but worst may be over: RBI Governor
Jan 28, 2023, at 07:49 am
New Delhi/IBNS: The global economy is likely to shrink significantly this year but the worst—both in terms of growth and inflation—appears to be over, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday, media reports said.
India's forex reserves at a five-month high of $572 billion
Jan 21, 2023, at 05:27 am
India's foreign exchange reserves swelled to a five-month high in the week ended January 13, the data released by the Reserve Bank of India (RBI) on Friday showed.
'A major risk looming large': RBI warns against Old Pension Scheme
Jan 18, 2023, at 04:37 am
Mumbai: The Reserve Bank of India (RBI) has cautioned states against Old Pension Scheme, saying that it would strain state finances in the future.
India's forex reserves shrink to $561.58 billion
Jan 14, 2023, at 06:07 am
Mumbai: India’s forex reserves dropped by $1.268 billion to $561.583 billion for the week ended January 6, the Reserve Bank of India said Friday.
Hitachi Payment Services receives RBI’s in-principle approval for payment aggregator licence
Jan 11, 2023, at 01:00 am
Mumbai/IBNS: The Reserve Bank of India (RBI) has granted in-principle approval to payment solutions provider Hitachi Payment Services to operate as a payment aggregator, the company said Tuesday.
RBI details auction of India's maiden Sovereign Green Bonds worth Rs 16,000 cr
Jan 07, 2023, at 04:59 am
Mumbai/IBNS: The Reserve Bank of India on Friday notified indicative dates for India's first-ever sales of Sovereign Green Bonds (SGrB) worth Rs 16,000 in two equal tranches on January 25 and February 9 of the current financial year.
RBI working on alternate solutions for Indian banks hit by ESMA regulations
Dec 31, 2022, at 01:19 am
Mumbai: The Reserve Bank of India (RBI) is working on alternate solutions if the European markets’ regulator withdraws recognition of the Indian central bank’s counterparties.