RBI

Comprehensive review of Income Tax Act announced in Union Budget

Finance Minister Nirmala Sitharaman announced a comprehensive review of the Income Tax Act, 1961 to simplify the tax regime. The tax regime for charities, TDS rate structure, and capital gains taxation are also being simplified. The government's efforts to simplify taxes are part of a broader effort to improve taxpayer services and reduce litigation. The government also announced measures to make life and health insurance plans more affordable.

3 days ago

India has potential to become even as world's 2nd largest economy by 2031, says RBI Dy Governor

Given the country's innate strengths, it is possible to imagine India striking out into the next decade to become the second largest economy in the world not by 2048, but by 2031, and the largest economy of the world by 2060

13 days ago

India has potential to become world's 2nd largest economy by 2031: RBI Dy Governor

13 days ago

RBI Governor confident of India's progress, says on path to steady 8% GDP growth

RBI Governor Shaktikanta Das sees India moving ahead towards an 8 per cent GDP growth trajectory on a sustained basis, driven by structural economic reforms such as GST.

Jun 26, 2024

To curb spam, TRAI allots 160 new mobile series to financial entities

The government has allocated 160 mobile phone series for making transactional and service voice calls for all entities regulated by RBI, SEBI, IRDAI and PFRDA in the first phase, in order to prevent the duping of citizens from the fraudsters

Jun 15, 2024

India to log 6.7% GDP growth in next 3 years, remain fastest-growing economy: World Bank

Driven by strong domestic demand, surge in investment and robust services activity, India will remain the fastest growing economy in the world, clocking a steady growth of 6.7 per cent for the next three fiscal years, the World Bank has said.

Jun 12, 2024

RBI Revamps Forex Act 'FEMA' Guidelines to Boost Overseas Trade

The Reserve Bank of India (RBI) has decided to rationalize export and import guidelines to facilitate overseas trade.

Jun 7, 2024

Stock markets zoom over RBI's GDP forecast, Sensex up over 1 pc

The India stock market extended morning gains after the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) raised India's real GDP forecast to 7.2 per cent for FY25 from earlier 7 per cent.

Jun 7, 2024

India's forex reserves at historic high of $651.5 bn, CAD to dip: RBI

With a lower trade deficit, robust services export growth and strong remittances, the current account deficit (CAD) is expected to have moderated in the January - March quarter of 2023-24, RBI Governor Shaktikanta Das said on Friday.

Jun 7, 2024

RBI raises GDP growth forecast for 2024-25 to 7.2%, keeps repo rate unchanged at 6.5%

The RBI's Monetary Policy Committee (MPC) meeting decided to stick to the current 6.5 per cent repo rate with a 4:2 majority vote, RBI Governor Shaktikanta Das said after the meeting

Jun 7, 2024

Indian stock markets soar, adding Rs 12 lakh crore [details]

In an unprecedented event, the Indian stock markets experienced a significant surge on June 3, witnessing a gain of over Rs 12 lakh crore, or 3.25 per cent.

Jun 3, 2024

RBI shifts 100 tonnes of gold from vaults in UK to India; here's why

The Reserve Bank of India (RBI) has shifted around 100 tonnes of its gold kept in bank vaults in the UK to its own vaults in India in a move aimed at saving storage costs, according to media reports.

May 31, 2024

'Religion' mandatory for bank KYC details? Here's the truth

The application form issued to customers while applying for a credit card from a leading Indian private sector bank, lists 'Religion' as a mandatory piece of information to be provided as part of the KYC. This could raise serious questions on potential discriminatory practices.

May 31, 2024

RBI sees India as an emerging global hub for chips, electronics manufacturing

India's emerging sectors like renewable energy and semiconductors are expected to make rapid advances on the back of the recent initiatives by the government.

May 30, 2024

"Stop charging extra interest on loans"; RBI cracks down on banks amid unfair practices

The Reserve Bank of India (RBI) on Monday directed banks and NBFCs to immediately review their practices to ensure that they are fair and transparent in the interest they charge customers as several instances have been detected where excessive interest has been charged on loans.

Apr 29, 2024

kotak mahindra bank kotak mf uday kotak schemes debt equity investors lti facility branch atm

Kotak Mahindra Bank cannot onboard new customers, issue fresh credit cards: RBI [here's why]

The Reserve Bank of India (RBI) on Wednesday directed Kotak Mahindra Bank Limited to stop onboarding of new customers through its online and mobile banking with immediate effect and also barred the bank from issuing fresh credit cards.

Apr 24, 2024

Banks must provide simple key facts statement to borrowers on terms of loans: RBI

The RBI on Monday directed all banks and housing finance companies to provide 'key fact statements' (KFS) in simple terms to the prospective borrowers on the loans and interest that they are expected to pay to ensure transparency and help them make informed decisions.

Apr 16, 2024

RBI leaves key repo rate unchanged, focus on keeping inflation in check

The Reserve Bank of India (RBI), on Friday, left the key policy rate unchanged at 6.5 per cent in its monetary policy review for the seventh consecutive time, with the aim of keeping inflation in check and ensuring that the economy moves on a stable growth path.

Apr 5, 2024

India's forex reserves surge for 3rd week in row to touch $642.5 billion mark

India's foreign exchange reserves surged by $6.4 billion to touch a robust $642.5 billion for the week ended March 15, the latest data released by the RBI on Friday showed.

Mar 23, 2024

RBI directs all Agency Banks to remain open on March 31

The Reserve Bank of India (RBI) on Wednesday issued an order for all branches of banks dealing with government receipts and payments to remain open on March 31, which is a Sunday.

Mar 20, 2024

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RBI

Comprehensive review of Income Tax Act announced in Union Budget

India has potential to become even as world's 2nd largest economy by 2031, says RBI Dy Governor

India has potential to become world's 2nd largest economy by 2031: RBI Dy Governor

RBI Governor confident of India's progress, says on path to steady 8% GDP growth

To curb spam, TRAI allots 160 new mobile series to financial entities

India to log 6.7% GDP growth in next 3 years, remain fastest-growing economy: World Bank

RBI Revamps Forex Act 'FEMA' Guidelines to Boost Overseas Trade

Stock markets zoom over RBI's GDP forecast, Sensex up over 1 pc

India's forex reserves at historic high of $651.5 bn, CAD to dip: RBI

RBI raises GDP growth forecast for 2024-25 to 7.2%, keeps repo rate unchanged at 6.5%

Indian stock markets soar, adding Rs 12 lakh crore [details]

RBI shifts 100 tonnes of gold from vaults in UK to India; here's why

'Religion' mandatory for bank KYC details? Here's the truth

RBI sees India as an emerging global hub for chips, electronics manufacturing

"Stop charging extra interest on loans"; RBI cracks down on banks amid unfair practices

Kotak Mahindra Bank cannot onboard new customers, issue fresh credit cards: RBI [here's why]

Banks must provide simple key facts statement to borrowers on terms of loans: RBI

RBI leaves key repo rate unchanged, focus on keeping inflation in check

India's forex reserves surge for 3rd week in row to touch $642.5 billion mark

RBI directs all Agency Banks to remain open on March 31

Time for India to follow suit? France, Germany, Netherlands, US banned use of EVMs [here's why]

Dhanush's Captain Miller has no buyers in Telugu states? Here's why

Deepika Padukone is a sight to behold in velvet gown; attends Academy Museum Gala with Selena Gomez, Dua Lip [see pics]

Is exhibiting cleavage mandatory? Malaika Arora opts for low neck sleeveless outfit at event in Vrindavan, leaves netizens furious