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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

Reporting within 1 to 3 hours increases chances of recovering lost money

The Telecom Regulatory Authority of India (TRAI) met with representatives from the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), the Insurance Regulatory and Development Authority of India (IRDAI), other financial institutions, and all telecom service providers (TSPs)

The RBI informed that due to technical problems, around Rs 84.94 crore was not credited into 17,877 bank accounts which would be now returned to the State government after rectifying the issue, said Minister Tummala Nageswara Rao.

Inflation had eased to a 12-month low of 4.75 per cent in May after having come down to 4.83 per cent in April

Says bank failed to preserve records pertaining to identification of customers and their addresses obtained during course of business relationships in certain accounts

TGSPDCL planning to print QR code on electricity bills to make payments; sources say bills with QR code will be available from next month

All he did was click on a link sent to his mobile and presto, Rs.1.25 lakh vanished from his credit account.

Nexus, conceptualised by the Innovation Hub of the Bank for International Settlements (BIS), aims to connect India’s UPI (Unified Payments Interface), with the fast payment systems of ASEAN members -- Malaysia, Philippines, Singapore, and Thailand.

Nifty 50 index closed positively at 23,267.75, marking a gain of 446.35 points or 1.96 per cent

RBI Governor Shaktikanta Das said on Friday that this will enable customers to automatically replenish the balances in Fastag, NCMC, etc. if the balance goes below the threshold limit set by them. This will enhance convenience in making travel-related payments.