Banks seek RBI nod for new swap benchmark to replace MIBOR
Dec 23, 2024, at 07:43 pm
Mumbai: A group of Indian banks has approached the Reserve Bank of India (RBI) seeking approval for a new benchmark to be used in overnight indexed swaps, according to individuals familiar with the discussions, according to a Bloomberg report.
RBI green flags JP Morgan-backed fintech ISG to work as payment aggregator
Dec 13, 2024, at 09:37 pm
Mumbai: JP Morgan-backed fintech company In-Solutions Global (ISG) has secured full authorisation as a payment aggregator under the Reserve Bank of India's regulatory framework.
Sanjay Malhotra takes charge as 26th RBI Governor
Dec 11, 2024, at 01:43 pm
Mumbai/IBNS: Sanjay Malhotra on Wednesday took charge as the 26th Governor of the Reserve Bank of India (RBI).
Revenue Secretary Sanjay Malhotra appointed as RBI Governor
Dec 09, 2024, at 10:30 pm
New Delhi/IBNS: Revenue Secretary Sanjay Malhotra has been appointed as the Governor of the Reserve Bank of India (RBI).
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Dec 07, 2024, at 05:04 am
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent.
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Dec 06, 2024, at 11:30 pm
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
RBI keeps repo rate unchanged at 6.5%, slashes CRR to 4 percent
Dec 06, 2024, at 04:47 pm
New Delhi/IBNS: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
RBI to announce key interest rate decision tomorrow morning as 3-day MPC ends
Dec 06, 2024, at 04:37 am
Mumbai: The Reserve Bank of India (RBI) is set to announce its interest rate decision on Friday morning following the conclusion of a three-day meeting of the Monetary Policy Committee (MPC), amid persistent inflation and sluggish GDP growth.
S&P lowers India's GDP growth forecast for the next two fiscal years
Nov 25, 2024, at 10:31 pm
New Delhi/IBNS: S&P Global Ratings has maintained India's GDP growth forecast for the current financial year 2024-25 at 6.8 percent, but has revised down its growth projections for the next two fiscal years.
RBI directs banks to reduce speculative trading against rupee: Report
Nov 23, 2024, at 07:29 pm
Mumbai/IBNS: In a rare intervention, the Reserve Bank of India (RBI) directed certain banks on Friday (Nov. 22) to reduce their long positions in the dollar-rupee trade to counter speculative activities affecting the rupee, which has fallen to an all-time low, Reuters reported, citing its sources.
RBI alerts investors about 'deepfake videos' of Governor Shaktikanta Das circulating on social media
Nov 20, 2024, at 09:04 pm
Mumbai/IBNS: The Reserve Bank of India (RBI) on Tuesday (Nov. 19) issued a warning to investors regarding the circulation of deepfake videos featuring Governor Shaktikanta Das on social media.
Piyush Goyal says RBI should definitely cut interest rates; central bank's governor responds
Nov 14, 2024, at 08:08 pm
New Delhi/IBNS: Union Commerce Minister Piyush Goyal advocated for an interest rate cut by the Reserve Bank of India (RBI) on Thursday (Nov. 14), emphasizing that food inflation should not be a determining factor in rate decisions.
India's outward FDI grows $3.24 billion in Oct 2024: RBI data
Nov 14, 2024, at 06:32 am
Mumbai: India’s outward foreign direct investment (FDI) commitments reached $3.24 billion in October 2024, rising from $2.55 billion in October 2023. However, on a month-over-month basis, commitments declined from $3.77 billion in September 2024, according to the Reserve Bank of India (RBI).
Market crash: Sensex, Nifty 50 fall for 5th consecutive session; drops over 9% from peak
Nov 13, 2024, at 07:21 pm
Mumbai/IBNS: Indian markets continued their downward trend for the fifth consecutive session on Wednesday (Nov. 14) influenced by weak global cues, a strengthening dollar, a depreciating rupee, and persistent foreign investor outflows.
Rupee slips to all-time low of 84.38 against US Dollar as Asia FX declines
Nov 11, 2024, at 08:10 pm
Mumbai/IBNS: The Indian rupee hit a record low on Monday (Nov. 11), pressured by concerns over Donald Trump's US presidentiaL election victory that weighed on Asian currencies and ongoing outflows from Indian stocks impacting the local currency.
Nov 01, 2024, at 11:34 pm
New Delhi/IBNS: Starting November 1, 2024, a series of updates will bring significant changes across India, impacting everything from financial transactions to daily services.
Narrow majority of economists predict RBI likely to cut rates to 6.25% in December: Reuters poll
Oct 30, 2024, at 10:22 pm
New Delhi/IBNS: The Reserve Bank of India (RBI) is expected to reduce its key policy rate by 25 basis points to 6.25 percent in December this year to support India's slowing economic growth, according to a narrow majority of economists surveyed in a Reuters poll.
RBI says another 102-ton gold shifted to India from Bank of England's vaults
Oct 30, 2024, at 06:54 pm
New Delhi/IBNS: The Reserve Bank of India (RBI) on Wednesday (Oct. 30) announced the relocation of another 102 tonnes of gold from the Bank of England's vaults in London to secure locations within India.
Union Finance Ministry highlights softer urban demand, factory output
Oct 29, 2024, at 06:15 pm
New Delhi/IBNS: The Union Ministry of Finance (MoF) on Monday (Oct. 29) highlighted emerging challenges in the Indian economy, including weakening consumer sentiment and declining urban demand, along with a slowdown in industrial activity.
Paytm secures NPCI nod to onboard new UPI users
Oct 23, 2024, at 09:55 pm
New Delhi/IBNS: One97 Communications Limited, the parent company of Paytm, has received the green light from the National Payments Corporation of India (NPCI) to onboard new users for its Unified Payments Interface (UPI) platform.
Oct 18, 2024, at 09:33 pm
Mumbai/IBNS: The Reserve Bank of India (RBI) on Thursday (Oct. 17) took action against four Non-Banking Financial Companies (NBFCs), instructing them to cease new loan sanctions and disbursements, while a Morgan Stanley report suggests that more companies in the lending sector could face similar scrutiny.
Zomato's upcoming fund raise plan worth Rs 8,500 crore likely to get board nod: Report
Oct 18, 2024, at 08:39 pm
New Delhi/IBNS: Leading Indian multinational restaurant aggregator and food delivery company Zomato is expected to approve a fund raise of Rs 8,500 crore, CNBC-TV18 reported citing insider sources.
India's retail inflation climbs to 5.49%, highest in CY24; WPI inflation also rises
Oct 15, 2024, at 08:34 pm
New Delhi/IBNS: Retail inflation in India surged to a nine-month high in September, driven by rising food prices and the diminishing impact of a favourable base effect.
Oct 10, 2024, at 02:02 am
Mumbai: The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC), in its meeting held from October 7 to 9, announced on Wednesday that the benchmark repo rate will remain steady at 6.5 percent.
RBI increases UPI 123Pay and UPI Lite limit in MPC meeting
Oct 09, 2024, at 07:06 pm
New Delhi/IBNS: The Reserve Bank of India (RBI) on Wednesday (Oct. 9) announced an increase in the transaction limit for UPI123 Pay from Rs 5,000 to Rs 10,000.
RBI MPC meeting: Central bank keeps repo rate unchanged at 6.5%, stance changed to 'neutral'
Oct 09, 2024, at 06:43 pm
New Delhi/IBNS: The Reserve Bank of India's (RBI) reconstituted Monetary Policy Committee (MPC), which met from October 7 to 9, announced on Wednesday (Oct. 9) that it would keep the benchmark repo rate unchanged at 6.5 percent.
RBI unlikely to postpone policy shift despite limited impact of Iran-Israel tensions
Oct 07, 2024, at 09:13 pm
Mumbai/IBNS: The growing tensions between Israel and Iran are not expected to prompt the Reserve Bank of India (RBI) to delay its shift in monetary policy, as experts suggest the impact on the economy and crude oil prices remains minimal, reports Moneycontrol.
India’s Forex reserves reach record high of $704.89 billion
Oct 05, 2024, at 03:24 am
New Delhi: India's foreign exchange reserves have surged to an all-time high of $704.89 billion, marking an increase of $12.5 billion as of September 27, according to data from the Reserve Bank of India (RBI) released on Friday.
India appoints three new members to RBI's Monetary Policy Committee
Oct 02, 2024, at 03:23 am
New Delhi: The government has appointed Ram Singh, Saugata Bhattacharya, and Nagesh Kumar as the new external members of the Reserve Bank of India's Monetary Policy Committee (MPC), according to a government statement released on Tuesday.
Asian Development Bank retains India's 2024-25 growth forecast at 7%
Sep 25, 2024, at 08:16 pm
New Delhi/IBNS: The Asian Development Bank (ADB) has retained India's growth forecast at 7 percent for the current fiscal year (FY25), with expectations of an accelerated growth rate of 7.2 percent in FY26, according to a report released on Wednesday (Sept. 25).