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The RBI had announced the withdrawal of Rs 2000 notes on May 19, 2023 and the circulation of notes has drastically come down from Rs 3.56 lakh crore to Rs 6,691 crore as of December 31, 2024

Forex traders say the rupee is likely to remain in a weakening mode due to significant dollar demand

Apparently written in the Russian language, the email was sent to the official website of the Central Bank on Thursday afternoon, threatening to blow up the building with explosives

The summit featured discussions on empowering marginalized communities through self-help groups, the critical role of women-led initiatives, and the importance of balanced credit disbursement to mitigate over-indebtedness.

RBI signals its cautious approach to balance the twin factors of inflation and growth

The move is aimed at attracting more foreign capital at a time when the Indian rupee has come under pressure as foreign investors have been pulling money out of the Indian stock markets resulting in hot money outflows

The UPI hit a milestone of 16.6 billion transactions in a month in October, with improvements in its capabilities like successful instant debit reversals at 86 per cent (77 per cent in the same month last year)

As of May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, their total value in circulation was Rs 3.56 lakh crore, with less than 2% of these notes still circulating.

It has been observed that in Telangana and Andhra Pradesh, there appears to be reluctance among traders/small businesses and members of the public to accept Rs.10 coins

Under the BRS government, Telangana achieved a remarkable 15.9% Compound Annual Growth Rate (CAGR) in development expenditure, surpassing the national average by 5.81%

The RBI’s stance suggests a continued focus on price stability, given the current economic climate

The RBI opted for a status quo despite the US Federal Reserve's decision to lower benchmark rates by 50 basis points last month. Additionally, several central banks in developed nations have also reduced their interest rates.

Most major central banks have shifted towards rate cuts, with the US Fed recently lowering rates by 50 basis points. Meanwhile, the RBI has kept its accommodative stance. The focus now turns to whether the central bank will transition from this accommodative position to a more neutral approach.

The State debt stands at around Rs.72,500 crore since the Congress came to power, while the market borrowings are at around Rs.32,500 crore in the first two quarters of the current fiscal year.

Forex traders noted that, from a macroeconomic perspective, the rupee's downside seems well-contained, with the 84 level serving as critical support, likely due to anticipated RBI intervention to curb further depreciation. At the interbank foreign exchange market, the rupee opened at 83.94, then weakened slightly to 83.95, marking a 2 paise loss from its previous close.

The revised regulations, effective January 1, 2025, will align the rules for Housing Finance Companies (HFCs) with those for Non-Banking Financial Companies (NBFCs), the RBI announced. Currently, HFCs accepting public deposits operate under more relaxed prudential parameters compared to NBFCs.

The RBI’s stance suggests a continued focus on price stability over immediate rate cuts, given recent history of rate hikes

The RBI has proposed to introduce a new provision called "Delegated Payments" through UPI. The step is aimed at further deepening the reach and usage of digital payments.

Opens at 83.95 against the greenback, touches 83.89

RBI proposes to reduce clearing cycle by introducing continuous clearing with 'on-realisation-settlement' in Cheque Truncation System