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The RBI's Monetary Policy Committee (MPC) will meet on November 3 to discuss what it would tell the Centre as to why it was not able to restrain the inflation.
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The meeting has been called under the provisions of Section 45ZN of the Reserve Bank of India (RBI) Act 1934, RBI said in a statement on Thursday.
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With the latest hike, the repo rate or the short term lending rate at which banks borrow from the central bank is now close to 6 per cent.
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The medical college is located on the campus of the Sheth Lallubhai Gordhandas Municipal General Hospital which is popularly known as LG Hospital.
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Sitharaman made the remarks here today while addressing the ongoing India Ideas Summit organised by US-India Business Council.
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Though India’s economy grew 13.5% in the first quarter of this fiscal, the clouds of gloom still hover over the country as the looming headwinds — worsening global growth prospects, the impact of rising inflation on consumption, and the progressive hike in interest rates — could end up denting the growth momentum. The GDP growth […]
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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.
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The RBI has also issued Master Directions for classification and reporting of frauds by commercial banks and select financial institutions.
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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 […]
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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 […]
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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 […]
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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 […]
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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, […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
