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India To Pitch RBI Backed Cross-Border Digital Currencies For BRICS Payments: Report
India is proposing BRICS countries link up their central bank digital currencies for cross-border transactions, thereby reducing reliance on banks and cutting down on costs.
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India Posts Current Account Surplus Of $13.5 Billion In Q4FY25: RBI Data
India posted a current account surplus of USD 13.5 billion or 1.3 per cent of GDP in March quarter 2024-25 as compared with USD 4.6 billion in the year-ago period mainly on account of surge in services exports and higher remittances, according to RBI
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Economy Recovering From Slowdown Witnessed In 2nd Quarter: RBI Bulletin
The Indian economy is recovering from the slowdown in momentum witnessed in the September quarter, driven by strong festival activity and a sustained upswing in rural demand, according to a Reserve Bank of India (RBI) bulletin released on Tuesday.
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RBI Directs Banks To Activate Frozen Accounts With Special Campaigns
The Reserve Bank of India (RBI) has directed banks to take immediate steps to reduce the number of inoperative or frozen accounts and to make the activation process smoother and more hassle-free.
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RBI Ready To Counter Rupee Slide, Fund Outflow Post-US Election: Sources
India's central bank is well-equipped to deal with a potential sudden outflow of foreign funds and any steep fall in the rupee if Republican candidate Donald Trump wins next week's US presidential election, sources said.
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"We Aren't Police...": RBI Chief Day After 4 Firms Banned From Giving Loans
Reserve Bank Governor Shaktikanta Das on Friday said that the central bank does not act like a policeman, but it maintains tight vigil on financial market and takes regulatory action whenever necessary.
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RBI Asks Non-Banks To Stick To Rs 20,000 Loan Cash Payout Limit: Report
India's central bank has asked non-bank finance companies (NBFC) to strictly adhere to a cap of 20,000 rupees ($240) in cash loans, according to a letter seen by Reuters and two people aware of the development, in a bid to deter cash transactions.
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RBI Seen Cutting Rates As Demonetisation Rattles Economy: Poll
The Reserve Bank of India (RBI) is expected to cut interest rates next week and economists are set to chop growth and inflation forecasts after Prime Minister Narendra Modi's currency crackdown rattled the economy and severely hurt consumption, a Reuters poll showed.
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Uday Kotak Sells Rs 1,687 Crore Stake In Kotak Mahindra Bank
Earlier this month, the bank raised about $900 million by selling new shares to funds, diluting Uday Kotak's holding further.
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Rs 1.76 Lakh Crore RBI Transfer Positive For Economy: Soumya Kanti Ghosh
The transfer of surplus and excess dividend is in line with the recommendations of the Bimal Jalan Committee, which was tasked to review the Economic Capital Framework of the RBI.
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RBI To Announce Monetary Policy Decision On Wednesday
The Reserve Bank will come out with monetary policy review, the first after demonetisation of old Rs 500/1000 notes, on Wednesday amid expectations of interest rate cut.
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RBI To Launch New Rs 100 Currency Note Soon
The Reserve Bank said it will soon put to circulation Rs 100 denomination notes in market with enlarged identification features.
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India Inc Disappointed As RBI Keeps Rates Unchanged
With RBI belying expectations of a rate cut, India Inc expressed disappointment saying a rate cut was needed to provide fillip to the flagging industrial economy and stimulate consumption that has been hit by demonetisation.
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Demonetisation Not Done In Haste, Says RBI Governor Urjit Patel
The demonetisation decision was taken after detailed deliberations and not in haste, while nearly Rs 11.85 lakh crore or 80% of junked notes have come back into the system, RBI said promising to maintain steady supply of new currency to ease cash crunch.
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Banks Asked To Do Central Data Checking: RBI On Laundering
With more and more instances of money laundering and fraudulent currency exchange surfacing, RBI warned of stern action against wrongdoers and asked banks to carry out a thorough central data checking, while it suspended a "junior functionary" who is being investigated.
-
India To Pitch RBI Backed Cross-Border Digital Currencies For BRICS Payments: Report
India is proposing BRICS countries link up their central bank digital currencies for cross-border transactions, thereby reducing reliance on banks and cutting down on costs.
-
India Posts Current Account Surplus Of $13.5 Billion In Q4FY25: RBI Data
India posted a current account surplus of USD 13.5 billion or 1.3 per cent of GDP in March quarter 2024-25 as compared with USD 4.6 billion in the year-ago period mainly on account of surge in services exports and higher remittances, according to RBI
-
Economy Recovering From Slowdown Witnessed In 2nd Quarter: RBI Bulletin
The Indian economy is recovering from the slowdown in momentum witnessed in the September quarter, driven by strong festival activity and a sustained upswing in rural demand, according to a Reserve Bank of India (RBI) bulletin released on Tuesday.
-
RBI Directs Banks To Activate Frozen Accounts With Special Campaigns
The Reserve Bank of India (RBI) has directed banks to take immediate steps to reduce the number of inoperative or frozen accounts and to make the activation process smoother and more hassle-free.
-
RBI Ready To Counter Rupee Slide, Fund Outflow Post-US Election: Sources
India's central bank is well-equipped to deal with a potential sudden outflow of foreign funds and any steep fall in the rupee if Republican candidate Donald Trump wins next week's US presidential election, sources said.
-
"We Aren't Police...": RBI Chief Day After 4 Firms Banned From Giving Loans
Reserve Bank Governor Shaktikanta Das on Friday said that the central bank does not act like a policeman, but it maintains tight vigil on financial market and takes regulatory action whenever necessary.
-
RBI Asks Non-Banks To Stick To Rs 20,000 Loan Cash Payout Limit: Report
India's central bank has asked non-bank finance companies (NBFC) to strictly adhere to a cap of 20,000 rupees ($240) in cash loans, according to a letter seen by Reuters and two people aware of the development, in a bid to deter cash transactions.
-
RBI Seen Cutting Rates As Demonetisation Rattles Economy: Poll
The Reserve Bank of India (RBI) is expected to cut interest rates next week and economists are set to chop growth and inflation forecasts after Prime Minister Narendra Modi's currency crackdown rattled the economy and severely hurt consumption, a Reuters poll showed.
-
Uday Kotak Sells Rs 1,687 Crore Stake In Kotak Mahindra Bank
Earlier this month, the bank raised about $900 million by selling new shares to funds, diluting Uday Kotak's holding further.
-
Rs 1.76 Lakh Crore RBI Transfer Positive For Economy: Soumya Kanti Ghosh
The transfer of surplus and excess dividend is in line with the recommendations of the Bimal Jalan Committee, which was tasked to review the Economic Capital Framework of the RBI.
-
RBI To Announce Monetary Policy Decision On Wednesday
The Reserve Bank will come out with monetary policy review, the first after demonetisation of old Rs 500/1000 notes, on Wednesday amid expectations of interest rate cut.
-
RBI To Launch New Rs 100 Currency Note Soon
The Reserve Bank said it will soon put to circulation Rs 100 denomination notes in market with enlarged identification features.
-
India Inc Disappointed As RBI Keeps Rates Unchanged
With RBI belying expectations of a rate cut, India Inc expressed disappointment saying a rate cut was needed to provide fillip to the flagging industrial economy and stimulate consumption that has been hit by demonetisation.
-
Demonetisation Not Done In Haste, Says RBI Governor Urjit Patel
The demonetisation decision was taken after detailed deliberations and not in haste, while nearly Rs 11.85 lakh crore or 80% of junked notes have come back into the system, RBI said promising to maintain steady supply of new currency to ease cash crunch.
-
Banks Asked To Do Central Data Checking: RBI On Laundering
With more and more instances of money laundering and fraudulent currency exchange surfacing, RBI warned of stern action against wrongdoers and asked banks to carry out a thorough central data checking, while it suspended a "junior functionary" who is being investigated.
