RBI unlikely to postpone policy shift despite limited impact of Iran-Israel tensions
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
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
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.
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
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
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
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.
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
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
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
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
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
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
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.
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).