UPI transactions to account for India's 90% of retail digital transactions: RBI
Jun 24, 2023, at 06:03 am
Mumbai: The Unified Payments Interface (UPI) is projected to contribute to 90 percent of retail digital transactions volume in the coming five years, according to the Reserve Bank of India (RBI) bulletin.
Centre appoints SBI veteran Swaminathan Janakiraman as RBI deputy governor
Jun 21, 2023, at 12:40 pm
Mumbai: The government has appointed Swaminathan Jankiraman, the managing director of the State Bank of India (SBI), as the Deputy Governor of the Reserve Bank of India (RBI), an official notification said.
RBI approves First Loss Default Guarantee program between fintechs and partner banks, NBFCs
Jun 10, 2023, at 05:01 am
Mumbai: The Reserve Bank of India (RBI) has given its approval to the First Loss Default Guarantee (FLDG) program, media reports said.
RBI keeps repo rate unchanged: Here’s what the banking and finance industry has to say
Jun 09, 2023, at 07:46 am
Mumbai: As expected, the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), after three days of deliberation, on Thursday kept the repo rate unchanged at 6.5%.
RBI keeps repo rate unchanged at 6.5%
Jun 08, 2023, at 04:46 pm
Mumbai/UNI: Amid downward trend in retail inflation and staying in its target range, the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Thursday kept the repo rate unchanged at 6.5%.
RBI adds 8 new entities to alert list of unauthorised forex trading platforms
Jun 08, 2023, at 06:18 am
Mumbai: The Reserve Bank of India (RBI) Wednesday said it has included eight more entities and platforms to the alert list of unauthorised forex trading platforms.
RBI allows International Banking Units in Gujrat's GIFT City to settle NDDCs in INR
Jun 07, 2023, at 05:54 am
Mumbai: The Reserve Bank on Tuesday allowed international banking units (IBUs) located in GIFT City, Gujarat, to settle non-deliverable foreign exchange derivative contracts (NDDCs) using the Indian rupee.
RBI's MPC panel likely to maintain status quo on key policy rate in June meeting
Jun 05, 2023, at 05:30 am
Mumbai: The Reserve Bank of India is likely to maintain a status quo over the policy stance in the June policy review as well, opine experts.
Jun 03, 2023, at 02:58 am
Mumbai: The Reserve Bank of India (RBI) on Friday released draft Master Directions on Cyber Resilience and Digital Payment Security Controls for Payment System Operators (PSOs).
May 31, 2023, at 06:20 pm
Mumbai: Around 80% of the total Rs 2000 notes received are deposited and the rest 20% are exchanged for smaller denominations as per market trends. Even if a fraction of these trends is extrapolated at the banking level, the liquidity in the banking system will shoot much higher compared to previous estimates of around Rs 1 trillion bulge in deposits even if a fraction, said SBI Ecowrap report on Tuesday.
132.19 crore pieces of soiled Rs 2,000 banknotes disposed in last 3 FYs
May 31, 2023, at 04:50 am
Mumbai: A total of 132.19 crore pieces of soiled Rs 2,000 banknotes were disposed of in the last three financial years, according to the annual report of the Reserve Bank of India (RBI).
Rs 2,000 notes Exchange: SBI issues guidelines to branches amid misinformation on social media
May 21, 2023, at 09:41 pm
Mumbai: The State Bank of India has issued a guideline to all its branches, allowing them to exchange or accept deposits in Rs 2000 notes "without obtaining any requisition slip".
May 21, 2023, at 05:21 am
London: Former Chief Economic Advisor Krishnamurthy Subramanian on Saturday said that the withdrawal of the Rs 2,000 note by the Reserve Bank of India (RBI) would not have an impact on the general public.
RBI transfers Rs 87,416 cr dividend to govt; Rs 40,000 cr more than expected
May 20, 2023, at 05:42 am
Mumbai: The central board of directors of the Reserve Bank of India (RBI) has given its approval for the transfer of Rs 87,416 crore as a dividend to the Centre, media reports said.
India's forex reserves swell by $3.55 billion to $599.53 billion
May 20, 2023, at 02:39 am
Mumbai: India’s foreign currency reserves grew for the fourth consecutive week, reaching $599.53 billion as of May 12, according to the Reserve Bank of India’s statistical supplement released on Friday.
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.