India weighs bailout plan for debt-laden state power utilities amid surging demand: Report
Feb 21, 2025, at 06:57 pm
New Delhi: India is exploring a cash injection for heavily indebted state-owned power distribution utilities to ensure sector stability amid rising electricity demand, Reuters reported, citing a Ministry of Power document.
PNB reports Rs 270.57 cr fraud by Gupta Power Infrastructure to RBI
Feb 19, 2025, at 07:26 pm
Mumbai: State-owned Punjab National Bank (PNB) has reported a fraud of Rs 270.57 crore involving Odisha-based Gupta Power Infrastructure Ltd to the Reserve Bank of India (RBI).
RBI supersedes New India Cooperative Bank board, appoints administrator amid fund misuse allegations
Feb 14, 2025, at 11:48 pm
Mumbai: The Reserve Bank of India (RBI) on Friday took control of the board of Mumbai-based New India Cooperative Bank for a year and appointed former SBI chief general manager Shreekant as the administrator to oversee its operations, media reports said.
India’s retail inflation drops to 4.6% in Jan, industrial growth slows to 3.2%
Feb 12, 2025, at 06:06 pm
New Delhi: India's retail inflation eased to 4.6% in January 2025, down from 5.22% in December, as food price pressures subsided.
RBI cuts repo rate by 25 bps to 6.25% after 5 yrs; industry welcomes move
Feb 07, 2025, at 11:25 pm
Mumbai: The Reserve Bank of India (RBI) on Friday reduced the repo rate by 25 basis points from 6.5% to 6.25% in another step to boost the economy, media reports said.
PhonePe exits account aggregation business, surrenders NBFC-AA licence to RBI
Feb 07, 2025, at 10:09 pm
Bengaluru: PhonePe, India's largest fintech firm, announced on Friday its exit from the account aggregation (AA) business, citing challenges in onboarding enough partners to meet its expectations, media reports said.
RBI cuts repo rate by 25 basis points, first in five years
Feb 07, 2025, at 10:56 am
New Delhi/IBNS: The Reserve Bank of India (RBI) on Friday reduced the repo rate by 25 basis points from 6.5% to 6.25% in another step to boost the economy, media reports said.
RBI likely to cut policy rate by 75 bps in 2025, starting with 25 bps in Feb: SBI Research
Feb 04, 2025, at 05:59 pm
Mumbai: The Reserve Bank of India (RBI) is expected to cut its policy rate by 75 basis points (bps) during the upcoming easing cycle, beginning with two successive reductions in February and April 2025, according to an SBI Research report.
RBI announces measures to boost liquidity in banking system
Jan 28, 2025, at 06:04 pm
Mumbai: The Reserve Bank of India (RBI), announced a series of initiatives on Monday to ease liquidity pressures in the banking system, including government bond purchases and a dollar/rupee swap auction, Reuters reported.
RBI cancels NBFC X10 Financial Services’ registration over digital lending violations
Jan 21, 2025, at 09:30 pm
Mumbai: The Reserve Bank of India (RBI) announced on Tuesday the cancellation of the registration of X10 Financial Services Ltd, a Mumbai-based non-banking financial company (NBFC), due to irregularities in its digital lending practices.
RBI to conduct daily VRR auctions to address banking system liquidity deficit
Jan 16, 2025, at 03:05 pm
Mumbai: India’s central bank announced on Wednesday that it will conduct variable rate repo (VRR) auctions on all working days until further notice to ease liquidity constraints in the banking system, Reuters reported.
RBI to auction Rs 4.73 lakh crore in govt bonds in Jan-Mar 2025
Jan 01, 2025, at 11:18 pm
Mumbai: In the January-March quarter of 2025, the Reserve Bank of India (RBI) plans to sell government bonds worth Rs 4.73 lakh crore on behalf of State Governments and Union Territories (UTs).
Rupee slips to 85.80 against US Dollar, poised for worst monthly decline in two years
Dec 27, 2024, at 02:27 pm
New Delhi/IBNS: The Indian Rupee on Friday (December 27) hit a new low of 85.80 against the US dollar, driven by a strong demand for dollars in the non-deliverable forwards (NDF) market as the month-end approaches.
RBI flags concerns over rising delinquency in unsecured lending, calls for stricter vigilance
Dec 27, 2024, at 01:42 pm
Mumbai/IBNS: The Reserve Bank of India (RBI) has raised concerns about increasing delinquency and leverage in unsecured loans, urging heightened vigilance despite a slowdown in credit growth.
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.