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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

The rate has been increased from 7.81 per cent that was applicable in the April-June quarter.

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, […]

During January-March 2021, the Central government did not raise any amount through the Cash Management Bills.

The PMC Bank had invited Expression of Interest (EoI) from eligible investors for investment/ equity participation for its reconstruction and had received four proposals.

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.

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.

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.

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.

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.

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.

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.

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.

The facility will have tenors of up to three years at repo rate (4 per cent), said RBI Governor Shaktikanta Das.

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.

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.

Industry expects a status quo on benchmark rate on account of uncertainty over the impact of Covid second wave

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.

The Bank of India has sent messages to its eligible customers to submit their willingness to debt recast online.

Creating safe working zones is necessary, for it is not possible to perpetually fear and abstain from livelihood activities