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RBI's Financial Stability Report for July also noted that big tech offers a wide range of digital financial services and has a substantial footprint in the payment systems, crowdfunding, asset management
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The rate has been increased from 7.81 per cent that was applicable in the April-June quarter.
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Mumbai: Seeking to accelerate its general awareness campaign, the Reserve Bank of India (RBI) has started looking for an entity that can develop multimedia publicity material in 14 languages. The pan-India campaign to educate the general public about the essential rules and regulations will be launched in Hindi, Assamese, Bangla, Gujarati, Kannada, Malayalam, Marathi, Oriya, […]
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During January-March 2021, the Central government did not raise any amount through the Cash Management Bills.
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The PMC Bank had invited Expression of Interest (EoI) from eligible investors for investment/ equity participation for its reconstruction and had received four proposals.
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In December 2020, the RBI took the unprecedented step of stopping the largest private sector lender from selling any new credit cards and also launching new digital services.
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The Consumer Price Index (CPI)-based inflation hit a six-month high of 6.3 per cent in May, from 4.3 per cent in April.
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The provisions will apply to all deposit-taking HFCs, irrespective of their size, as well as non-deposit-taking HFCs with asset size of Rs 5,000 crore and above, the central bank said.
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The first such auction of Rs 25,000 crore was held on April 15 and second one was on May 20 for Rs 35,000 crore.
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Subbarao said instead of borrowing in the market, the government could raise a part of its borrowing requirements by issuing Covid bonds to the public.
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The government had demonetised the then in circulation high value currency notes of Rs 500 and Rs 1,000 on November 8, 2016, with an aim to check black money.
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The RBI had first come out with a circular on the issue in 2018, cautioning people about investing in cryptocurrencies, which do not have any sovereign character.
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Nestle India was the top laggard in the Sensex pack, shedding around 2 per cent, followed by SBI, HDFC Bank, Axis Bank, ICICI Bank, Reliance Industries, HUL and Dr Reddy's.
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The facility will have tenors of up to three years at repo rate (4 per cent), said RBI Governor Shaktikanta Das.
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At 10:25 am, the BSE S&P Sensex was up by 94 points or 0.18 per cent at 52,327 while the Nifty 50 gained by 31 points or 0.2 per cent to 15,721.
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The announcement came after a three-day meeting of its Monetary Policy Committee (MPC).
The RBI has kept repo rate the central bank's lending rate unchanged at 4 per cent and reverse repo rate borrowing rate at 3.35 per cent.
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Industry expects a status quo on benchmark rate on account of uncertainty over the impact of Covid second wave
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Growth in loans to micro and small industries accelerated to 3.8 per cent in April this year as compared to a contraction of 2.2 per cent a year ago.
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The Bank of India has sent messages to its eligible customers to submit their willingness to debt recast online.
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Creating safe working zones is necessary, for it is not possible to perpetually fear and abstain from livelihood activities