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Mumbai: The Reserve Bank of India will soon come out with regulatory architecture for digital lending platforms, many of which are unauthorised and illegal, Governor Shaktikanta Das said on Thursday. There have been increasing cases of alleged suicides of borrowers due to harassment by a few of the operators of digital lending apps. “I think […]

Mumbai: Home, auto and other loan EMIs will rise after the Reserve Bank of India (RBI) on Wednesday raised the key interest rate by 50 basis points (bps), the second increase in five weeks, to rein in a rise in prices that was seen continuing to hurt consumers in the near term. The increase in […]

Mumbai: Indian stock market’s benchmark Sensex opened 205 points down on Wednesday as the Reserve Bank of India (RBI) increased the policy repo rate by 50 basis points to 4.9 per cent. The 30 stock S&P BSE Sensex fell 205.27 points or 0.37 per cent to close at 54,902.07 points at 10:30 am. The broader […]

Mumbai: The Reserve Bank of India on Wednesday retained its growth projection at 7.2 per cent for the current fiscal on the back of improvement in urban demand and gradual recovery in rural India. Unveiling the third monetary policy for the current fiscal, RBI Governor Shaktikanta Das said the Indian economy remained resilient, and the […]

Mumbai: Reserve Bank of India (RBI) on Wednesday raised the interest rate by 50 basis points to a two-year high of 4.9 per cent as it doubled down to tame inflation that has surged in the last couple of months. The rate hike comes on the back of a 40 bps increase effected by RBI […]

By Seela Subba Rao Prior to 2003, banks were not allowed to take up ‘insurance’ as a permissible form of business. Subsequently, they were permitted to undertake referral activities such as insurance business. Consequent to the announcement by the then Finance Minister in the Budget speech 2013-14 to permit banks as insurance brokers, the Reserve […]

New Delhi: The central bank Reserve Bank of India (RBI) cleared the air by saying that it has no proposal to bring about changes to the existing currency and bank notes by replacing the face of Mahatma Gandhi with that of others. “There are reports in certain sections of the media that the Reserve Bank […]

Mumbai: With inflation showing no signs of abatement, the Reserve Bank is likely to increase the benchmark lending rate in quick succession in its forthcoming monetary policy review on Wednesday, a hint for which has already been given by Governor Shaktikanta Das, opined experts. There are speculations that the central bank may go for at […]

New Delhi: The Reserve Bank of India (RBI) on Friday said that it is proposing to adopt a graded approach to the introduction of Central Bank Digital Currency (CBDC) in conformity with the objectives of monetary policy, financial stability and efficient operations of currency and payment systems. “The Reserve Bank proposes to adopt a graded […]

New Delhi: India’s economic recovery from the pandemic shock has sustained in FY22 and the momentum is expected to broadly continue through the ongoing FY23, though with risks of downside from the geopolitical shock and its spillovers, said the RBI’s Annual Report for 2021-22 released on Friday. Despite the risks, the report said the recovery […]

By B Sambamurthy Real GDP hit a decadal high of 8.2% during 2016-17. Since then, it has been on a downward slide and declined to about 4% during 2019-20. Covid-19 inflicted significant damage to economic growth and growth hurtled to a negative 6.5% in FY 2021. Keeping the impact of Covid-19 aside, the deceleration of […]

New Delhi: Top cryptocurrency exchange Coinbase quit India operations owing to “informal pressure” from the Reserve Bank of India (RBI), its CEO Brian Armstrong has revealed for the first time. The US-based and Nasdaq-listed exchange had halted payments via unified payments interface (UPI) mode on its app in India last month. In the company’s earnings call […]

Expert says investors should focus on investing 40-50% of monthly income in equity mutual fund schemes

The Reserve Bank of India’s sudden decision to hike the policy rate may have taken the market off guard but it has become inevitable to tame the soaring inflation. The decision, taken at an unscheduled meeting of the Monetary Policy Committee (MPC) of the central bank, sends a clear signal that rising inflation is going […]

New Delhi: Home loans are set to become costlier after the Reserve Bank of India’s (RBI) decision to hike the policy repo rate by 0.40 per cent, experts said. In a bid to control inflation, RBI has announced a change in the key lending rates. On Wednesday, the apex bank announced a hike by 40 […]

Mumbai: In a surprise move, the Reserve Bank of India (RBI) on Wednesday increased the policy repo rate by 40 basis points to 4.40 per cent with immediate effect. Addressing a press conference, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) has unanimously voted to increase the policy repo rate by 40 basis […]

There is a steep rise in legal mobile lending in India. This however, has become a blessing in disguise for apps from scammers. The extent of fake loan apps is so high that Google’s Play Store had to remove over 200 of them since the last quarter of 2021 due to policy violations. But they […]

By Dr K Srinivasa Rao The global economy is under stress due to geopolitical hostilities and continuing risks of Covid-19 on increased mobility. Rising inflation and repercussions of global portfolio redistribution owing to policy rate hikes in the western world are exacerbating risks to emerging economies. Due to their internal constraints and policy objectives, emerging […]

Hyderabad: The Reserve Bank of India (RBI) has restored the pre-pandemic trading timings in RBI-regulated markets, which includes the money market. With this, banks will now open at 9:00 am. Even financial markets regulated by RBI such as the forex market have a new set of timings to abide by. The RBI notification said, “With […]

Mumbai: While maintaining an accommodative stance, the Reserve Bank of India (RBI) on Friday cut the real Gross Domestic Product (GDP) growth projection for the current Financial Year 2022-23 to 7.2 per cent, against the earlier projection of 7.8 per cent. The inflation forecast has also been hiked from 4.5 per cent to 5.7 per […]