RBI

RBI fines Mumbai bank for levying extra charge on ATM cards

The RBI has slapped a fine of Rs 13.3 lakh on SVC Co-operative Bank Ltd., Mumbai as it was imposing annual maintenance charges for ATM cards in Basic Savings Bank Deposit Accounts in violation of the central bank's directions.

Oct 23, 2023

RBI slaps fines on Union Bank of India, RBL Bank for breach of rules

The Reserve Bank of India (RBI) on Friday said it has imposed monetary penalties on Union Bank of India and RBL Bank for the violation of norms.

Oct 14, 2023

RBI slaps fines on 3 banks in Gujarat for breach of rules

The Reserve Bank of India (RBI) has imposed monetary penalties on three cooperative banks in Gujarat for breach of rules after carrying out statutory inspections of their records.

Oct 4, 2023

Interest rate for 5-year recurring deposit hiked to 6.7 %, rates for other key schemes kept unchanged

The government has kept interest rates of all key small savings schemes unchanged for the October-December period, except for the five-year recurring deposit, which has been hiked from 6.5 per cent to 6.7 per cent.

Sep 30, 2023

RBI to maintain rates, real estate sector to be disappointed

Only an unforeseen and sustained increase in inflation may compel the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) to revise upwards the repo rate, said the Chief Economist at Anand Rathi Shares and Stock Brokers.

Sep 29, 2023

Uday Kotak Resigns as MD and CEO of Kotak Mahindra Bank

While stepping down from his executive role, Kotak will continue to serve as a non-executive Director of the bank

Sep 2, 2023

Revenue increase and growth recorded in Q2 FY20

India's GDP growth stands at 7.8% for first quarter of 2023-24, lesser than RBI's estimate of 8%

India's economic growth stood at 7.8 per cent in the first quarter (April-June) of the current fiscal, a steep fall from 13.1 per cent GDP growth recorded in the corresponding period of last year, according to data released by the ministry of statistics and programme implementation on Thursday.

Sep 1, 2023

Locate Your Unclaimed Bank Deposits: RBI launches UDGAM website to search at one place

Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday launched a centralised web portal UDGAM (Unclaimed Deposits - Gateway to Access inforMation), which would make it easier for people to search for their unclaimed deposits across multiple banks at one place.

Aug 18, 2023

Shaktikanta Das, Governor, Reserve Bank of India

RBI retains repo rate at 6.5%, inflation projected at 5.4%, predicts GDP growth at 6.5%

Not disappointing the expectations, the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) did not change the repo rate from 6.50 per cent.

Aug 10, 2023

Russia's Sberbank Establishes Major IT Unit In B'luru

Russia's Sberbank sets up major IT unit in Bengaluru; Plans to employ IT specialists

Sberbank's branch in India has received permission from the Reserve Bank of India (RBI) to establish an IT unit here.

Jul 21, 2023

The Reserve Bank of India has announced withdrawal of Rs 2,000 currency notes from circulation, and existing notes in circulation can either be deposited in bank accounts or exchanged by September 30

76% of total Rs 2,000 denomination notes in circulation returned to banks in these two forms: RBI

The Reserve Bank of India (RBI) on Monday said that as much as 76 per cent of the total number of Rs 2,000 notes in circulation have been returned to banks.

Jul 4, 2023

Kharge hits back at Centre after RBI's paper on inflation

Congress President Mallikarjun Kharge on Saturday took a swipe at the Centre over inflation after the Reserve Bank of India (RBI) said that the public is now spending less as a result which in turn have decreased sales.

Jun 24, 2023

RBI averse to crypto but is all set to float CBDC; FinMin weighs options [details]

The Reserve Bank of India (RBI) has made no bones about it being averse to crypto currency, ever since it emerged on the horizon in the country a few years ago.

Jun 11, 2023

As expected, RBI's Monetary Policy review June 2023 remains status quo: Expert

While the rate inaction was expected by almost everyone, there was some debate on whether a more qualified stance may now be forthcoming, writes Suyash Choudhary of Bandhan Asset Management

Jun 9, 2023

RBI MPC retains repo rate at 6.5%, projects 6.5% GDP & 5.1% inflation for FY24

Not belying the expectations, the Reserve Bank of India's Monetary Policy Committee (MPC) did not change the repo rate from 6.50 per cent while projecting gross domestic product (GDP) and inflation at 6.5 per cent and 5.1 per cent respectively.

Jun 8, 2023

RBI's monetary policy committee begins deliberations on key rates, announcement tomorrow

The panel will announce its decision whether to hold the rates or revise them upwards or cut them tomorrow

Jun 7, 2023

Power to withdraw banknotes lies with Centre, petitioner to Delhi HC on Rs 2K note issue

The Delhi High Court on Tuesday reserved its judgement on a plea filed against the Reserve Bank of India (RBI)'s decision to withdraw Rs 2,000 notes from circulation.

May 31, 2023

Only 10 of Rs 2,000 notes can be exchanged per account holder at a time: RBI

Announcing the decision to withdraw Rs 2,000 denomination notes from circulation, the Reserve Bank of India (RBI) has asked banks not to issue such notes with immediate effect.

May 20, 2023

Demonetisation again? RBI asks people to return or deposit Rs 2,000 currency notes in banks by Sept 30

The Reserve Bank of India (RBI) on Friday said that it will withdraw the Rs 2,000 denomination banknote from circulation but it will continue as legal tender.

May 19, 2023

India's forex reserves fell by $2 billion, reaches $584.248 billion for week ending Apr 21

It's a significant fall compared to October 2021 when the country's forex reserves had reached an all-time high of $645 billion

Apr 29, 2023

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