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 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.
Old lending practices a constraint in catering to agriculture sector: RBI deputy governor
Sep 17, 2024, at 08:19 pm
Pune/IBNS: Traditional lending methods fall short in meeting the unique demands of the agricultural sector, necessitating innovative, flexible financial solutions tailored to farmers' needs, Reserve Bank of India's (RBI) deputy governor Swaminathan Janakiraman said.
India can achieve sustainable growth of up to 8% in the coming years: RBI Governor Shaktikanta Das
Sep 16, 2024, at 08:26 pm
Mumbai/IBNS: Reserve Bank of India (RBI) Governor Shaktikanta Das said India has the potential to achieve sustainable economic growth of up to 8 percent in the medium term.
Sep 13, 2024, at 07:44 pm
Singapore/IBNS: Even as consumer price index (CPI) inflation has softened to the 2-6 percent tolerance band, there is still a ‘distance to cover’, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday (Sept. 13), signaling the central bank is in no hurry to cut interest rates despite the inflation dip in the world’s fastest-growing major economy.
RBI keeps repo rate unchanged at 6.5% for ninth time in a row
Aug 08, 2024, at 06:55 pm
Mumbai/IBNS: The Reserve Bank of India (RBI) on Thursday (Aug 8) kept the repo rate — the central bank's rate for short-term loans to banks — unchanged at 6.5 percent by 4:2 majority, maintaining withdrawal of accommodation.
Reserve Bank of India allows resident Indians to open foreign currency accounts in GIFT City
Jul 12, 2024, at 06:16 pm
New Delhi/IBNS: The Reserve Bank of India (RBI) has allowed Indian residents to open foreign currency accounts in Gujarat International Finance Tec-City (GIFT City), widening the scope of remittances to International Financial Services Centres (IFSCs) under the Liberalised Remittance Scheme (LRS).
Latest RBI job data reveals India's employment growth rate accelerates to 6% in FY24
Jul 10, 2024, at 07:18 pm
New Delhi/IBNS: A data released by the Reserve Bank of India (RBI) on Monday (July 8) showed that nearly 4.67 crore new jobs were created in India during the financial year 2023-24 taking the total number of employed persons in the country to 64.33 crore.
Jul 03, 2024, at 03:25 pm
Reserve Bank of India has been collaborating bilaterally with various countries to link India’s Fast Payments System (FPS) – the Unified Payments Interface (UPI), with their respective FPSs for cross-border Person to Person (P2P) and Person to Merchant (P2M) payments.
Indian economy continues growth dynamism, FY25 GDP may come close to 7.5 pct: NCAER
Jun 27, 2024, at 06:21 am
The latest monthly data released in June show resilience and growth dynamism of the Indian economy, according to the Monthly Economic Review released by National Council of Applied Economic Research (NCAER) on Wednesday.
RBI says India's forex reserves hit all-time high of $651.5 billion
Jun 10, 2024, at 12:36 am
The Reserve Bank of India recently said India's forex reserves has moved up to touch USD 4.837 billion to touch a new all-time high of USD 651.51 billion for the week ended May 31.
RBI to permit opening of rupee account outside India: Report
May 31, 2024, at 08:16 pm
Mumbai/IBNS: The Reserve Bank of India (RBI) on Thursday announced to permit the opening of rupee accounts outside India as part of its strategic action plan to internationalise the domestic currency, reports said.
RBI moves 100 tonnes of gold from UK to its vaults, first time since 1991: Report
May 31, 2024, at 07:07 pm
Mumbai/IBNS: The Reserve Bank of India (RBI) has moved over 100 tonnes of gold from the UK to its vaults in India, reports said.
RBI imposes Rs. 1 crore penalty on ICICI Bank, fines Yes Bank Rs. 91 lakhs for non-compliance
May 28, 2024, at 09:10 pm
Reserve Bank of India has fined private lenders Yes Bank and ICICI Bank over non-compliance.
Alignment with 4% inflation target may occur in latter part of the year: RBI report
May 22, 2024, at 04:32 am
Mumbai: The Reserve Bank of India's (RBI) latest monthly bulletin, released on Thursday, indicates that achieving a sustained alignment of inflation with the 4 percent target may occur in the latter half of the year.
May 09, 2024, at 08:40 pm
Mumbai/IBNS: The Reserve Bank of India (RBI) has allowed Bank of Baroda (BOB) to onboard customers via its 'BOB World' mobile application, following which shares of the public sector bank surged 3.4 percent to Rs 271 per share on Thursday (May 9).
PSU Bank shares drop as new RBI norms for infra project financing spoil mood
May 07, 2024, at 02:02 am
Mumbai/IBNS: The shares of state-run lenders of India, including State Bank of India (SBI), Punjab National Bank (PNB), Union Bank of India, Bank of Baroda (BOB), and Maharashtra Bank, tumbled up to 6 percent on Monday after the Reserve Bank of India (RBI) published a draft proposing tighter rules for lending and heightened monitoring for under-construction infrastructure projects, reports said.
Apr 25, 2024, at 12:19 am
The Reserve Bank of India on Wednesday (April 24, 2024) barred private lender Kotak Mahindra Bank from onboarding new customers online and issuing new credit cards with immediate effect.
Apr 16, 2024, at 08:44 pm
The Reserve Bank of India on Monday (April 15, 2024) directed all banks and regulated entities not to levy additional fees on loans that were not previously disclosed in the Key Fact Statement (KFS).
RBI won't accept or exchange Rs. 2000 currency notes on April 1
Mar 29, 2024, at 08:42 pm
The Reserve Bank of India on Friday announced Rs. 2000 currency note will not be exchanged or accepted on April 1 due to operations associated with the Annual Closing of Accounts.
Jan 31, 2024, at 11:55 pm
The Reserve Bank of India on Wednesday directed Paytm Payments Bank Ltd not to accept deposits or allow credit transactions, or top-ups, in customer accounts or prepaid instruments connected to those accounts after February 29.
RBI extends deadline for returning Rs 2000 bank notes till October 7
Oct 01, 2023, at 12:29 am
The Reserve Bank of India (RBI) on Saturday extended the deadline for exchanging or depositing Rs 2000 banknotes by a week to October 7, 2023.
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 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.
Why is it important to use your credit card cautiously?
Mar 21, 2023, at 12:11 am
Credit cards have become very popular, especially among the millennial generation. It is evident as the number of active credit cards went up by 20% year-on-year to 806.65 lakh in November 2022, as per Reserve Bank of India (RBI) data. In this article, we will discuss the fundamentals of credit cards and the quickest ways to pay your credit card's outstanding.
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.
RBI bans Mahindra Finance from outsourcing recovery activity to third party
Sep 23, 2022, at 03:48 am
The Reserve Bank of India (RBI) on Thursday banned Mahindra & Mahindra Financial Services from using private agents for recovery or repossession activity until further notice.
Aug 20, 2022, at 03:29 am
Mumbai: The Reserve Bank of India (RBI) has issued a clarification over a bulleting article written by its researchers that said "a big bang approach to privatise them will do more harm than good" given the important role played by them in financial inclusion.
No plan to replace face of Mahatma Gandhi on banknotes: Reserve Bank of India
Jun 06, 2022, at 09:23 pm
Mumbai: The Reserve Bank of India on Monday confirmed it has no plans to change the image of Mahatma Gandhi on currency notes.
Reserve Bank of India lifts restriction on HDFC Bank's business generating activities
Mar 12, 2022, at 10:08 pm
New Delhi: Private lender HDFC Bank on Saturday said that the Reserve Bank of India (RBI) has lifted the restriction on the business generating activities planned under the Bank's Digital 2.0 programme.