-
Rupee opened at 80.1 and fell to its all-time low of 80.15 against the US dollar in intra-day trade. It settled at 79.94 a dollar, down 10 paise over its previous close of 79.84.
-
The RBI has also issued Master Directions for classification and reporting of frauds by commercial banks and select financial institutions.
-
Mumbai: The Reserve Bank of India (RBI) has invited feedback from the public on the various changes proposed in the payments system, including the possibility of imposing tiered charges on transactions done through the Unified Payments Interface (UPI). As announced in the Statement on Developmental and Regulatory Policies dated December 08, 2021, the Reserve Bank […]
-
Mumbai: The Reserve Bank of India (RBI) on Friday raised the benchmark lending rate by 50 basis points to 5.40 per cent to tame inflation. With the latest hike, the repo rate or the short term lending rate at which banks borrow has crossed the pre-pandemic level of 5.15 per cent. This is the third […]
-
New Delhi: The three-day Reserve Bank of India’s monetary policy committee meeting commenced on Wednesday and it is highly likely the six-member panel will go for another interest rate hike to curb rising domestic inflation. In line with the global trend of monetary policy tightening to cool off inflation, the RBI has so far hiked […]
-
Hyderabad: According to the Reserve Bank of India’s (RBI) calendar of holidays, banks will be closed for a total of 18 days in August including six-weekend leaves. Many bank holidays are regional and differ from state to state and bank to bank. The RBI has classified the holidays into three categories: holidays under the Negotiable […]
-
Hyderabad: On July 24, the Reserve Bank of India (RBI) extended the deadline for credit and debit card tokenization by three months, to September 30, from the previous deadline of June 30. The RBI has directed payment aggregators, wallets, and online merchants (other than card issuers/card networks) not to store any sensitive card-related customer information, […]
-
By Seela Subba Rao Microfinance institutions (MFIs) have evolved into a vibrant industry exhibiting a variety of business models. In India, they exist as NGOs (registered as societies or trusts), Section 25 companies, NBFC-MFIs and other NBFCs. Commercial banks, regional rural banks, cooperative banks and other large lenders have played an important role in financing […]
-
New Delhi: India’s inflation is expected to ease gradually in the second half of the current financial year 2022-23, “precluding the chances of a hard landing” monetary policy actions, said the Reserve Bank of India Governor, Shaktikanta Das. The central bank Governor made the remarks at the ongoing Kautilya Economic Conclave, organized by the Institute […]
-
Despite the rapid growth in digital payments over the last few years, cash remains the king in India. As a proportion of the gross domestic product (GDP), Indians still hold a relatively large share of cash, one of the highest in the world. The Currency in Circulation (CiC), as a proportion of GDP, has grown […]
-
New Delhi: Ashneer Grover, who was sacked along with his wife Madhuri Jain Grover by fintech platform BharatPe over alleged financial irregularities, has slammed the Reserve Bank of India (RBI) over its latest directive to non-bank prepaid payment instruments to stop loading credit lines onto their products. In a tweet, Grover said that “not allowing loading […]
-
Hyderabad: Debit and credit cardholders beware! Come July 1, your card details will get erased from e-commerce sites, apps and OTT platforms. One will have to restore their card number and generate a unique token from July onwards in order to make online payments. This is part of the new rules set by the Reserve […]
-
Hyderabad: The Reserve Bank of India has once again increased the repo rate by 50 basis points (bps) thus taking the cumulative hike in rates to 90 bps in a span of just two months. Although this rate hike was on expected lines, many industry analysts and experts suggest that this might impact home buying […]
-
The Reserve Bank of India’s decision to raise the repo rate — for the second time in over a month — by 50 basis points sends a message that the central bank is focused more on taming runaway inflation. However, the move is expected to hurt economic recovery as home and vehicle loans are set […]
-
Hyderabad: Telangana’s impressive march on the growth path could face speed-breakers if the BJP government at the Centre has its way in turning down the State’s repeated pleas to allow it to raise funds through Open Market Borrowings (OMBs). The Centre has, so far, held back giving its nod to Telangana to take the OMB […]
-
New Delhi: Taking into account the increase in prices since the housing loan limits were last revised and considering the customer needs, central bank Reserve Bank of India decided to increase the existing limits on individual housing loans by the cooperative banks. Accordingly, the limits for Tier I or Tier II urban cooperative banks shall […]
-
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 […]
-
Hyderabad: The Reserve Bank of India (RBI) is reportedly considering using images of Rabindranath Tagore and APJ Abdul Kalam, alongside Mahatma Gandhi, on the new series of currency notes. According to a report by the New Indian Express, the Central Bank and the Security Printing and Minting Corporation of India (SPMCIL) have sent two sample […]
-
By V Thiagarajan Nobel laureate Paul Romer writes that “For more than three decades, macroeconomics has gone backwards.” He sees economists no longer being concerned with whether or not their predictive models have any practical relevance and says we have entered an era of “post-real” macroeconomics. He has been proved right beyond any doubt. According to most […]
