October 5, 2024, 04:21 PM - 3 min read
The Reserve Bank of India (RBI) will shift its monetary stance to 'neutral' from current 'withdrawal of accommodation' in credit policy this month, and is likely to maintain the repo rate at 6.5 per cent in its upcoming sitting.
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October 5, 2024, 03:44 PM - 1 min read
In his new role as Executive Director, Aviral Jain will oversee several crucial departments, including the Legal Department, the Premises Department, and the Right to Information Act as the First Appellate Authority.
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September 30, 2024, 05:33 PM - 2 min read
The country's current account deficit widened marginally to USD 9.7 billion or 1.1 per cent of GDP in April-June 2024, as against USD 8.9 billion or 1 per cent in the year-ago period, Reserve Bank of India said on Monday.
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September 28, 2024, 03:13 PM - 3 min read
The Reserve Bank of India's digital rupee (e₹) has struggled to gain traction since its launch over two years ago, with its retail circulation accounting for just 0.006% of total banknotes, facing challenges from the dominance of UPI, transaction inconveniences, privacy concerns, lack of compelling use cases, and insufficient marketing efforts.
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September 24, 2024, 03:10 PM - 2 min read
S&P Global Ratings has maintained India's growth forecast at 6.8% for the current fiscal year, predicting that the Reserve Bank of India will begin cutting interest rates in October, contingent on a sustained decline in food inflation.
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September 23, 2024, 05:41 PM - 4 min read
The Finance Ministry and Reserve Bank of India are set to discuss the future of Sovereign Gold Bonds (SGB) amid declining issuance rates and increased attractiveness of physical gold following reduced import duties, with decisions impacting market borrowing for the upcoming fiscal half.
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September 13, 2024, 06:26 PM - 1 min read
India's forex reserves surged by USD 5.248 billion to a record USD 689.235 billion for the week ending September 6, driven by increases in foreign currency assets, gold reserves, and Special Drawing Rights (SDRs), according to the Reserve Bank of India.
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September 12, 2024, 06:16 PM - 2 min read
India's retail inflation rose to 3.65 per cent on a yearly basis in August, up from a five-year low of 3.54 per cent, according to data revealed by Ministry of Statistics on Thursday.
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September 5, 2024, 03:14 PM - 1 min read
According to a statement from the central bank, the Board reviewed both global and domestic economic conditions and challenges, as well as the operations of the Reserve Bank of India, including the functioning of Local Boards and activities of select Central Office Departments.
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September 3, 2024, 02:58 PM - 3 min read
RBI Deputy Governor Michael Patra stated that domestic savings, primarily from households, will continue to be the main source of financing for India's investment needs, with external financing playing a supplemental role.
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August 30, 2024, 03:58 PM - 2 min read
The Reserve Bank of India (RBI) has introduced UPI Interoperable Cash Deposit (UPI-ICD), allowing customers to deposit cash at ATMs using UPI without a debit card, by linking their mobile number, Virtual Payment Address, or bank IFSC code to the deposit, making the process more seamless and accessible.
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August 29, 2024, 05:38 PM - 2 min read
RBI plans to announce final project loan guidelines in 2-3 months, with norms for Expected Credit Loss (ECL) in advanced stages. Banks have raised concerns about potential profit impacts. RBI also addressed microloan delinquencies and stressed responsible lending at the Global Fintech Fest 2024.
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