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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 […]
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Mumbai: Reserve Bank of India (RBI) on Friday kept the benchmark interest rate unchanged at 4 per cent and decided to continue with its accommodative stance despite rising inflation. This is the 11th time in a row that the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das has maintained the status quo. RBI […]
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New Delhi: There is no plan by the government to introduce cryptocurrency, the Parliament was told on Tuesday. There is no plan to introduce a cryptocurrency and currently it is unregulated in India, Minister of State for Finance Pankaj Chaudhary told the Rajya Sabha in a written reply. “Reserve Bank of India (RBI) does not […]
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Hyderabad: Banks across all public and private sectors will be closed in some parts of the country for up to four days this week. This is according to a list prepared by India’s central bank RBI. The Reserve Bank of India has issued a list of holidays for the year 2022 in its annual list. […]
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New Delhi: The RBI has lifted all restrictions on HDFC Bank, permitting it to launch new digital initiatives, the private sector lender said on Saturday. “We would like to inform one and all that the Reserve Bank of India (RBI) has lifted the restriction on the business generating activities planned under the Bank’s Digital 2.0 […]
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The RBI has also directed Paytm Payments Bank to appoint an IT audit firm to conduct a comprehensive system audit of its IT system.
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Hyderabad: Finance Minister T Harish Rao here on Wednesday slammed the Centre for its discrimination against Telangana in sanctioning projects and funds. Stating that the Central government failed to fulfill its promises made to Telangana, he said that latter did not take any steps for setting up of Bayyaram steel plant in Mahabubabad, railway coach […]
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Mancherial: As part of the ongoing Financial Literacy Week initiative being organised by the Reserve Bank of India (RBI), District Collector Bharati Hollikeri unveiled wall posters of the event here on Monday. She was joined by Additional Collector D Madhusudan Naik. The theme chosen for this year is ‘Go Digital and Go Secure.’ Bharati requested […]
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The Reserve Bank of India’s decision to keep the repo rate unchanged at 4% for the 10th time in a row and to maintain the accommodative stance reflects a more cautious approach in the wake of an erratic economic recovery and the continued impact of the pandemic. The Monetary Policy Committee (MPC) in its last […]
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Mumbai: Cryptocurrency is privately created and it is a very big threat to the country’s macroeconomic and financial stability, RBI Governor Shaktikanta Das said on Thursday. Replying to a question, Das said, “Cryptocurrency or currency which have currency like character, they will undermine the RBI ability to deal with issues of financial stability.” RBI Governor […]
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Besides, inflation projection for 2021-22 is retained at 5.3 per cent, with Q4FY22 at 5.7 per cent on account of unfavourable base effects that are expected to ease subsequently.
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This is the tenth time in a row that the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das has maintained the status quo.
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New Delhi: Cryptocurrencies like Bitcoin or Ethereum will never become a legal tender, Finance Secretary TV Somanathan told ANI adding only the digital rupee issued by the Reserve Bank of India (RBI) would be the legal tender. Speaking to ANI, Finance Secretary said, “Digital rupee will be backed by RBI which will never default. Money […]
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New Delhi: Union Finance Minister Nirmala Sitharaman on Tuesday announced the launch of India’s own digital currency by the RBI next year that will be based on Blockchain technology, while the much-expected Cryptocurrency Bill is yet to see the light of the day. With this, India will join certain countries that have their own central […]
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By B Yerram Raju Omicron is unsympathetic to the small man and farmers are no exception. In the wake of the withdrawal of the three farm laws, the Finance Minister has challenges to provide resources to the farm sector. Investment of Rs 1 lakh crore was unlocked for agriculture in 2021, although the extent of, […]
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New Delhi: The wholesale price-based inflation bucked the 4-month rising trend in December 2021, and eased to 13.56 per cent, even though food prices hardened, and experts believe the RBI is expected to hold rates steady in its monetary policy next month. WPI inflation has remained in double digits for the ninth consecutive month beginning April. […]
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Mumbai: The country’s monetary policy is, by design, financially inclusive and this strategy will result in policy effectiveness and welfare maximisation going ahead, Reserve Bank of India’s Deputy Governor Michael D Patra said on Friday. Financial inclusion appears to have gone up, with the level of the RBI’s financial inclusion index rising from 49.9 in […]
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New Delhi: Country’s largest lender State Bank of India (SBI) has increased benchmark lending rate or base rate by 0.1 per cent, a move that may be followed by other lenders. With the increase the revised base rate is 7.55 per cent, as per the information posted on SBI’s website. The new rate is effective […]
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Kolkata: Former Reserve Bank of India Governor Duvvuri Subbarao has said the central bank could lose control over money supply and inflation management if cryptocurrency is allowed in the country. Speaking at a webinar organised by the National Stock Exchange (NSE) and New York University (NYU) Stern School of Business, Rao also said India’s case […]
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New Delhi: With an aim to increase the penetration of digital payments, the Reserve Bank of India has decided to develop the UPI platform for feature phones. India has one of the largest mobile phone users base, with around 118 crore users. A large part of them use feature phones. “In the first cohort of […]
