Finance minister says ban on cryptocurrencies not possible without international collaboration
Jul 19, 2022, at 06:54 pm
New Delhi: Sitharaman's statement on cryptocurrencies or Virtual Currencies (VCs) in Parliament was in response to a five-pointer question by Thirumavalavan, a member of Parliament from Tamil Nadu's Chidambaram.
RBI slaps Rs 1.7 cr fine on Ola Financial Services for non-compliance
Jul 14, 2022, at 06:54 pm
Mumbai: The Reserve Bank of India (RBI) slapped a Rs 1.67 crore fine on Ola Financial Services Ltd, the financial arm of app-based ride-hailing firm Ola, for non-compliance with its prepaid payment instrument (PPI) and know-your-customer (KYC) guidelines.
June retail inflation at 7 pc continues to be above RBI target for 6 months
Jul 14, 2022, at 05:20 am
New Delhi: India's June retail inflation dipped marginally to 7.01 percent in June to 7.04 percent in May, according to government data released on Tuesday, breaching Reserve Bank of India (RBI) target of 2 to 6 percent for six consecutive months.
RazorPay, Pine Labs among others to get RBI's nod for payment aggregator licence: Report
Jul 08, 2022, at 05:14 pm
Mumbai: The Reserve Bank of India (RBI) has given in-principle nod to RazorPay and Pine Labs among other payment gateways and fintech companies who had applied for payment aggregator licence.
Non-banks can't load credit lines into prepaid credit instruments, RBI tells fintechs: Report
Jun 21, 2022, at 04:36 am
The Reserve Bank of India (RBI) on Monday issued a clarification on Prepaid Payment Instruments (PPIs) such as wallets and prepaid cards, stating that they cannot offer credit lines through these instruments, media reports said.
RBI lifts restrictions on Mastercard
Jun 17, 2022, at 01:35 pm
Mumbai: Mastercard is back in the good books of the Reserve Bank of India (RBI) almost a year after the central bank imposed restrictions on its operations.
Jun 14, 2022, at 05:50 am
Mumbai: After rising to a 95-month (almost 8 years) high to 7.79 percent in Apr’22, CPI inflation moderated to 7.04% in May’22 due to broad-based deceleration. Core CPI also moderated in May to 6.09% as compared to 6.97% in Apr’22, State Bank of India’s Economic Research Department said Monday.
Jun 09, 2022, at 04:49 am
Mumbai: As widely expected, RBI’s Monetary Policy Committee unanimously decided to increase the policy Repo rate by 50 bps to 4.90% while also remaining focused on ‘withdrawal of accommodation’ to ensure that inflation remains within the target going forward, all the while supporting growth. RBI has retained its real GDP growth forecast for FY23 at 7.2% with risks broadly balanced.
Reserve Bank of India allows credit card linking with UPI
Jun 09, 2022, at 12:00 am
Mumbai: The Reserve Bank of India (RBI) on Wednesday announced that credit cards will be linked to the UPI accounts.
RBI policy rate hike: Experts react
Jun 08, 2022, at 09:03 pm
Mumbai: Reserve Bank of India's hike in repo rate by 50 basis points (bps) to 4.90 percent is an expected move amid the current inflationary pressures and more hikes can follow in the subsequent months, said experts.
Reserve Bank of India hikes repo rate by 50 bps to 4.90 percent, loans to become costlier
Jun 08, 2022, at 05:47 pm
Mumbai: As widely expected, the Reserve Bank of India (RBI) on Wednesday hiked policy repo rate by 50 basis points (bps) to 4.90 per cent with immediate effect.
Banks, merchants race to meet card tokenisation deadline
Jun 08, 2022, at 04:36 pm
The banks and merchants have asked their customers to tokenise their debit and credit cards ahead of the June 30, media reports said.
RBI hikes repo rate by 50 basis points
Jun 08, 2022, at 03:53 pm
New Delhi: The Reserve Bank of India on Wednesday announced the decision to hike repo rate by 50 basis points to 4.90 percent.
Banks request RBI to not raise CRR in next monetary policy meet
Jun 08, 2022, at 05:50 am
Mumbai: Banks have approached the Reserve Bank of India (RBI), requesting not to further increase the Cash Reserve Ratio (CRR) threshold in the upcoming monetary policy meeting to allow credit growth amid already tightened liquidity following the last monetary policy in early May.
RBI considers using images of Rabindranath Tagore, APJ Abdul Kalam on banknotes: Report
Jun 06, 2022, at 06:17 am
The Finance Ministry and the Reserve Bank of India are considering using watermark figures of two of India's greatest personalities Rabindranath Tagore and APJ Abdul Kalam on Indian currency notes, according to a media report.
Natarajan Sundar joins NARCL as MD CEO and Karnam Sekar and Malvika Sinha as Independent Directors
May 31, 2022, at 11:36 pm
New Delhi: National Assets Reconstruction Company Ltd (NARCL), the special purpose vehicle set up as a joint initiative of Public and Private Sector Banks onboarded Natarajan Sundar as its MD CEO on May 30, 2022, according to an official release.
High WPI inflation to impact retail inflation: RBI
May 27, 2022, at 08:53 pm
Mumbai: Amid rising commodity prices and supply chain bottlenecks, the Reserve Bank of India (RBI) on Friday cautioned about the high wholesale price inflation impacting the retail inflation.
RBI issues directive on card-less cash withdrawal
May 20, 2022, at 08:23 pm
Mumbai: The Reserve Bank of India (RBI) has asked all banks and ATM service providers to offer a cardless cash withdrawal facility
At least 59 pc of inflation increase due to war impact: SBI report
May 17, 2022, at 04:57 am
At least 59 percent of the increase in inflation is because of geopolitical conflict. Against the continued increase in inflation, it is now almost certain that RBI will raise rates in the forthcoming June and August policy and will take it to the pre-pandemic level of 5.15 percent by August.
RBI allows banks to continue giving credit to NBFCs for on-lending to priority sector
May 14, 2022, at 07:57 pm
Reserve Bank has asked banks as well as small finance banks (SFBs) to continue lending to the NBFCs for the purpose of on-lending to certain priority sectors.
RBI imposes withdrawal restrctions on Shankarrao Pujari Nutan Nagari Sahakari Bank Limited, Kolhapur
May 14, 2022, at 05:59 am
Mumbai: The Reserve Bank of India (RBI) has imposed a string of restrictions on Shankarrao Pujari Nutan Nagari Sahakari Bank Limited, Ichalkaranji, Kolhapur, including on withdrawals, owing to the lender's deteriorating financial position.
India's GDP to hit $5 trillion in FY29
May 05, 2022, at 02:10 am
India will become a $5 trillion economy only by 2029, four years later than the target set by Prime Minister Narendra Modi.
RBI hikes repo rate by 40 bps to 4.4 pc
May 04, 2022, at 08:39 pm
Mumbai: Reserve Bank of India (RBI) Wednesday raised key interest rate by 40 basis points to 4.40 per cent with immediate effect.
Need for CBDC emerged due to threat posed by stablecoins: RBI Deputy Governor
Apr 09, 2022, at 05:38 pm
Mumbai: RBI deputy governor T Rabi Sankar has said that stablecoins —cryptocurrencies pegged to stable assets such as gold or dollar are a bigger cause of worry for economies as it increases the risk of dollarisation.
RBI restores LAF, introduces SDF
Apr 09, 2022, at 04:24 pm
Mumbai: The RBI introduced as introduced the Standing Deposit Facility or SDF at 3.75 percent as part of its liquidity management and normalisation of the Liquidity Adjustment Facility (LAF).
Despite Covid-19, turbulent geopolitical situation, India's exports remain robust: RBI
Apr 09, 2022, at 06:13 am
Mumbai: Despite the turbulent geopolitical situation and the recent spike in global oil and commodity prices, demand for the country's exports and key commodities remained strong, observed Shaktikanta Das, Governor, Reserve Bank of India.
RBI to take 'calibrated and nuanced' approach towards CBDC
Apr 09, 2022, at 03:25 am
Mumbai: The Reserve Bank of India (RBI) is all set to start testing and running pilot projects of Central Bank Digital Currency (CBDC) after legislative enablement by the Centre, RBI Deputy Governor T. Rabi Shankar said in a post monetary policy committee press conference.
Experts laud RBI's move to address inflationary pressures while balancing growth
Apr 08, 2022, at 11:32 pm
Mumbai: The Reserve Bank of India (RBI) on Friday kept the benchmark interest rate unchanged at four percent for the 11th time in a row as it continues to maintain its accommodative stance in the backdrop of rising inflation.
RBI's focus shifts to inflation from economic growth amid geopolitical crisis
Apr 08, 2022, at 09:14 pm
Mumbai: Taking note of the risks due to rising inflation amid global geopolitical incidents, after a period of two years, the RBI is prioritizing inflation over economic growth.
RBI maintains status quo, keeps repo rate unchanged at 4 percent
Apr 08, 2022, at 04:41 pm
Mumbai/UNI: The Reserve Bank of India (RBI) on Friday kept the benchmark interest rate unchanged at four percent for the 11th time in a row as it continues to maintain its accommodative stance in the backdrop of rising inflation.