RBI revises rules for classification and operation of investment by banks
Sep 13, 2023, at 04:57 am
Mumbai: The Reserve Bank of India (RBI) said on Tuesday that it has amended the existing norms for the classification, valuation, and operation of investment portfolios of commercial banks based on the feedback it received from a discussion paper.
Union Bank of India integrates CBDC with UPI to offer interoperability
Sep 09, 2023, at 01:51 am
Mumbai: Public Sector Bank (PSB) Union Bank of India on Friday announced the launch of interoperability of India’s Central Bank Digital Currency with UPI under the aegis of RBI.
RBI to test more use cases in the pilot of wholesale CBDC
Sep 07, 2023, at 05:45 am
Mumbai: The Reserve Bank of India will test more use cases in the pilot of wholesale central bank digital currency (CBDC), media reports said.
NPCI launches new UPI products to achieve 100 bn monthly transactions
Sep 07, 2023, at 04:50 am
New Delhi: The National Payments Corporation of India (NPCI) on Wednesday announced a string of innovative products aimed at boosting the payments giant Unified Payments Interface (UPI) to reach 100 billion monthly transactions.
RBI Governor Shaktikanta Das rated top Central banker globally
Sep 02, 2023, at 04:12 am
New Delhi: Reserve Bank of India Governor Shaktikanta Das has been ranked the best Central banker globally with a rating of ‘A+’.
Bandhan Bank authorised by RBI for disbursing civil pension
Aug 29, 2023, at 10:44 pm
Private sector lender Bandhan Bank on Tuesday announced that it has been appointed by Reserve Bank of India (RBI) as an authorised pension disbursement bank on behalf of Central Pension Accounting Office (CPAO), Ministry of Finance, for the civil pensioners.
Axis Bank partners with RBI Innovation Hub to launch Kisan Credit cards and MSME loans
Aug 19, 2023, at 03:36 am
Kolkata: Axis Bank on Thursday announced the launch of two lending products powered by the Public Tech Platform for Frictionless Credit (PTPFC), introduced by the Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of the RBI.
RBI issues guidelines to recalibrate floating rate loan EMI
Aug 19, 2023, at 02:56 am
Mumbai: The Reserve Bank of India (RBI) on Friday released comprehensive guidelines for the recalibration of interest rates for equated monthly installments (EMIs) in floating interest loans.
Retail inflation jumps to 7.44 pc in July; crosses RBI's upper tolerance band
Aug 17, 2023, at 05:58 am
New Delhi: India's retail inflation measured by the consumer price index (CPI) shot up to 7.44% year-on-year in July 2023 driven primarily by high food prices.
RBI’s policy hawkish to the rising inflationary risks: HDFC treasury research
Aug 10, 2023, at 11:51 pm
Mumbai: The RBI kept its policy rate unchanged at 6.5% in line with expectations. Moreover, it continued with its stance of “withdrawal of accommodation” with a 5:1 vote.
RBI maintains status quo, policy repo rate unchanged at 6.50%
Aug 10, 2023, at 05:05 pm
Mumbai/UNI/IBNS: As widely expected by economists and market watchers, Reserve Bank of India (RBI) on Thursday kept the policy repo rate unchanged at 6.50%.
Credit card spending reaches record high at Rs 1.4 lakh cr in May; 87.4 million cards in circulation
Jul 16, 2023, at 08:57 pm
Mumbai: Credit card spending in India hit a record level of Rs 1.4 lakh crore in May, the data released by the Reserve Bank of India (RBI) revealed.
Central banks of India, UAE agree to link UPI systems, card payments
Jul 16, 2023, at 07:20 pm
Abu Dhabi: The Central banks of India and UAE on Saturday inked agreements in Abu Dhabi to set up a framework for cross-border transactions in local currencies and interlinking of payment and messaging systems.
RBI issues circular on issuance of debit card, credit card and prepaid cards
Jul 06, 2023, at 05:55 am
Mumbai: The Reserve Bank of India (RBI) released a draft circular in connection with the issuance of debit, credit, and prepaid cards on Tuesday.
India's May services exports show 7.7% growth to $27.06 billion, says RBI
Jul 04, 2023, at 05:53 am
Mumbai: India's services exports in May increased by 7.7% year-on-year to $27.06 billion, while imports rose by 2% to $15.5 billion, according to provisional data released by the Reserve Bank of India (RBI) on Monday.
Jun 24, 2023, at 06:16 am
Mumbai: Inflation is impacting personal consumption expenditure and reducing consumer spending, according to the Reserve Bank of India (RBI)'s bulletin for June.
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.