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The total value of Rs 2000 banknotes in circulation was Rs 3.56 lakh crore at the close of business on May 19, 2023 - the date on which RBI decided to withdraw the banknote.

A bullet repayment scheme is one where a borrower repays interest and the principal amount at the end of a loan tenure without worrying about repayment during the loan tenure.

The 30-share BSE Sensex climbed 364.06 points or 0.55 per cent to settle at 65,995.63. During the day, it jumped 464.24 points or 0.70 per cent to hit 66,095.81

After three days of deliberation, RBI Governor Shaktikanta Das announced on Friday that the Monetary Policy Committee (MPC) unanimously opted to maintain the repo rate at 6.5 percent

The UDGAM portal has been developed by RBI for use by members of the public to facilitate and make it easier for them to search their unclaimed deposits across multiple banks at one place.

Forex traders said the rupee consolidated in a narrow range as investors preferred to stay on the sidelines ahead of the Reserve Bank of India's rate decision.

The ECL approach to provisioning is a paradigm shift from the existing provisioning regime based on incurred losses.

Extension of the deadline appears to be aimed at providing more time for people to return or exchange the notes without any hassles.

Come October 1, the note will be just another piece of paper with no value. This comes months after the central bank announced that the Rs. 2000 notes will be taken out of circulation.

A penalty of Rs 1.3 crore was imposed on State Bank of India (SBI), Rs 1.62 crore on Indian Bank, Rs 1 crore on Punjab & Sind Bank, and Rs 8.80 lakh on Fedbank Financial Services, the RBI said

A list of 15 large Non Banking Finance Companies falling in the Upper Layer category has been released

As per the revised norms, banks will have to classify their entire investment portfolio under three categories -- Held to Maturity (HTM), Available for Sale and Fair Value through Profit and Loss

Armstrong stated that Coinbase had to suspend its trading service in India due to "unofficial pressure" from the RBI.

The bank has received approval from the Reserve Bank of India for making iProcess its wholly-owned subsidiary, subject to certain conditions, ICICI Bank said in a regulatory filing.

"The nominal value of the bond based on the simple average of closing price (for gold of 999 purity)... works out to Rs 5,923 per gram of gold," it said, while announcing the issue price of Sovereign Gold Bond Scheme 2023-24 Series II (second tranche).

RBI’s decision to expand e-rupee is an acknowledgement of the rapid pace of adoption of digital payment methods

According to Das, the banks and non-bank finance companies can continue with their lending activities even after RBI hands over the platform.

Reserve Bank of India Governor Shaktikanta Das on Wednesday urged fintech players to set up a SRO at the earliest for an orderly growth of the industry.

BBPS (Bharat Bill Payment System) cross-border bill payment will highlight the adaptability of the BBPS platform to integrate with fintechs and conventional financial players to facilitate domestic as well as cross-border payment transactions.

The RBI Governor also said that it is important for the monetary policy committee to keep track of price stability and act accordingly