Credit card spending grows 27% YoY to Rs 18.26 trillion in FY24: RBI
Apr 25, 2024, at 07:36 am
Mumbai: Credit card spending increased by 27% year-on-year to Rs 18.26 trillion in the financial year 2023-24 (FY24), up from around Rs 14 trillion in the previous year, according to the latest data from RBI.
PayU gets RBI's in-principle approval to operate as Payment Aggregator
Apr 24, 2024, at 03:40 am
Mumbai: After a wait of nearly 15 months, the Reserve Bank of India (RBI) has granted initial approval to PayU, a fintech firm backed by Prosus, to operate as a Payment Aggregator (PA) and resume the process of onboarding new merchants.
Cred gets RBI's in-principle approval to operate as payment aggregator
Apr 20, 2024, at 06:25 am
Mumbai: Bengaluru headquartered firm Cred, a top third-party app for credit card bill settlements in India, has received in-principle approval from the Reserve Bank of India (RBI) to operate as a payment app, said media reports.
RBI conducts 2-day VRRR auctions as liquidity in banking system nears Rs 1 trillion
Apr 17, 2024, at 04:42 am
Mumbai: The Reserve Bank of India on Tuesday held a two-day variable rate reverse repo (VRRR) auction due to the nearing Rs 1 trillion liquidity surplus in the banking system.
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 launches survey of manufacturing companies
Apr 10, 2024, at 08:28 am
Mumbai: The Reserve Bank has started the latest cycle of its quarterly survey on order books, inventories, and capacity utilization of manufacturing firms, which serves as a crucial component for shaping monetary policy.
Paytm Payments Bank MD & CEO Surinder Chawla resigns due to 'personal reasons'
Apr 10, 2024, at 05:01 am
New Delhi: In a fresh development, Paytm Payments Bank’s Managing Director and CEO, Surinder Chawla, has stepped down due to personal reasons, its parent company One97 Communications Limited said in a filing with the stock exchanges.
RBI slaps fines on IDFC First Bank and LIC Housing Finance for non-compliance
Apr 06, 2024, at 07:52 am
Mumbai: The Reserve Bank on Friday said that it has fined IDFC First Bank Rs 1 crore and LIC Housing Finance Rs 49.70 lakh for breaching specific regulations. The penalty on IDFC First Bank was levied due to failure to adhere to certain directives regarding 'Loans and Advances - Statutory and Other Restrictions', according to the central bank’s statement.
RBI keeps repo rate unchanged in line with market expectations
Apr 06, 2024, at 04:54 am
Mumbai: The Reserve Bank of India on Friday kept the key interest rates unchanged at 6.50 percent, in line with the market expectations.
Rupee most stable compared to peers due to strong fundamentals of Indian economy: RBI
Apr 05, 2024, at 06:55 pm
New Delhi/UNI: The Indian currency (INR) was the most stable among major currencies during the past three years and this reflects sound economic fundamentals of the Indian economy, says the Reserve Bank of India.
RBI keeps repo rate unchanged at 6.5%, projects 7% growth for FY25
Apr 05, 2024, at 05:23 pm
New Delhi/UNI/IBNS: Considering various factors both in the domestic and global markets, the Reserve Bank of India Friday projected 7 percent growth for Indian economy for FY25. RBI governor Shaktikanta Das said after three days of deliberations, the Monetary Policy Committee unanimously decided to keep the key interest rates unchanged at 6.50 per cent.
RBI's 3-day MPC meeting starts
Apr 04, 2024, at 06:40 am
Mumbai: The Reserve Bank of India's Monetary Policy Committee has started its three-day meeting on Wednesday to deliberate on interest rates and analyze the state of the economy.
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.
RBI to temporarily stop exchange/ deposit of 2,000 banknotes on Apr 1
Mar 29, 2024, at 02:12 am
Mumbai: The Reserve Bank of India (RBI) has announced that the exchange or deposit of Rs 2,000 banknotes will not be available on Monday, April 1, 2024, at its 19 issue offices nationwide.
India's foreign exchange reserves grow by $6.396 billion to $642.492
Mar 23, 2024, at 02:00 am
Mumbai: India's foreign exchange kitty fattened by $6.396 billion to $642.492 billion for the week ending on March 15, as per the statement from the Reserve Bank on Friday.
All agency banks to remain open for public on March 31: RBI
Mar 21, 2024, at 08:17 am
New Delhi: All banks dealing with government receipts and payments will remain open on Sunday, March 31, to account for all the transactions in the financial year 2023-24.
Persistently high food prices hindering drop in inflation to 4%: RBI Bulletin
Mar 20, 2024, at 04:22 am
New Delhi: Food price pressures are hindering a more rapid decline in retail inflation towards the Reserve Bank's target of 4 percent, according to an article in the central bank's March Bulletin.
Paytm Payments Bank likely to lay off employees amid uncertainty after RBI restrictions: Report
Mar 14, 2024, at 11:30 pm
Mumbai: Paytm Payments Bank Limited (PPBL) may cut down its workforce by around 20 percent due to uncertainty about the bank's future, Reuters reported.
Paytm FASTag users must procure tag from another bank by Mar 15: NHAI
Mar 14, 2024, at 08:26 am
New Delhi: In line with the guidelines issued by the Reserve Bank of India (RBI) regarding restriction on Paytm Payments Bank Limited, the NHAI on Wednesday advised Paytm FASTag users to procure new FASTag before March 15, 2024.
NPCI likely to grant TRAP licencse to Paytm: Report
Mar 13, 2024, at 05:55 am
New Delhi: The National Payments Corp of India (NPCI) is expected to grant a third-party application provider (TPAP) license to Paytm, previously known as One 97 Communications, by March 15, media reports said.
India's forex reserves grow by $6.55 billion to $625.626 billion: RBI data
Mar 09, 2024, at 05:21 am
New Delhi: India's foreign exchange reserves surged by $6.55 billion to reach $625.626 billion for the week ending March 1, according to data released by the Reserve Bank of India announced on Friday.
RBI, Bank Indonesia sign MoU to promote local currencies for bilateral transactions
Mar 08, 2024, at 01:17 am
New Delhi: The Reserve Bank of India (RBI) and the Bank Indonesia (BI) on Thursday signed a Memorandum of Understanding (MoU) for establishing a framework to promote the use of local currencies for cross-border transactions.
85% of Paytm wallet won't face interruptions due to regulatory actions: RBI Governor
Mar 07, 2024, at 07:08 am
New Delhi: Around 80-85% of Paytm wallet users will not face any interruptions due to regulatory actions, RBI Governor Shaktikanta Das stated on Wednesday.
India's FY24 GDP growth rate could near 8%: RBI Governor Shaktikanta Das
Mar 07, 2024, at 02:59 am
New Delhi: The Indian economy's GDP growth for the current fiscal year ending in March might be close to 8%, Reserve Bank of India (RBI) governor Shaktikanta Das said in an interview with ET Now on Wednesday.
RBI prohibits JM Financial Products from financing against shares and debentures
Mar 06, 2024, at 02:19 am
Mumbai: The Reserve Bank of India (RBI) on Tuesday said that JM Financial Products Ltd is barred from offering any type of financing involving shares and debentures, including granting loans against initial public offerings, effective immediately, media reports said.
NEFT witnesses highest ever daily transaction on Feb 29
Mar 02, 2024, at 04:31 am
Mumbai: The Reserve Bank of India (RBI) announced on Friday that the National Electronic Funds Transfer (NEFT) recorded its highest-ever daily transaction volume of Rs 4.10 crore on February 29, 2024.
RBI revises norms related to Regulatory Sandbox scheme
Feb 29, 2024, at 06:00 am
Mumbai: The Reserve Bank of India Wednesday made some adjustments to the guidelines for the Regulatory Sandbox (RS) program.
Vijay Shekhar Sharma steps down from Paytm payments bank board amid crisis
Feb 27, 2024, at 04:55 am
Paytm Monday informed that Vijay Shekhar Sharma would step down as non-executive chairman and board member of its payments bank's unit.
Paytm installations plunge after RBI restrictions
Feb 23, 2024, at 08:36 am
Mumbai: The daily installations of the Paytm app have fallen drastically following regulatory restrictions placed on Paytm Payments Bank (PPBL) by the Reserve Bank of India, media reported.
RBI Bulletin says India's H1FY24 growth momentum to persist in H2
Feb 21, 2024, at 05:50 am
Mumbai: The Reserve Bank of India's (RBI) monthly bulletin indicates that the growth momentum of the Indian economy observed in the first half of the current financial year is expected to continue into the second half.