RBI

Forex reserves fall to $562 billion during period ending Dec 23: RBI data

India's foreign exchange reserves fell by $691 million to $562.808 billion as on December 23, according to RBI data released on Friday.

Dec 31, 2022

Forex reserves fall by $691 million to $562.808 billion as of Dec 23

India's foreign exchange reserves fell by $691 million to $562.808 billion as on December 23, while Indians' overseas financial assets fell $43.9 bn in July-Sep period

Dec 31, 2022

Indian stock market soars to record high despite global headwinds

Sensex recorded a fresh high of 63,583 points and Nifty-fifty of NSE also rose to a record-breaking high of 18,874 points on Thursday

Dec 1, 2022

RBI's pilot project on digital rupee to be launched on Dec 1; see cities, banks part of launch

The first phase will begin with four banks namely State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank in four cities across the country.

Nov 29, 2022

RBI report flags large-scale variation in property tax collection across civic bodies

It may look surprising but it is a fact that the property tax revenue of the municipal bodies in Delhi is much more than that of bigger states including Uttar Pradesh, Madhya Pradesh, Rajasthan and many other states.

Nov 20, 2022

What is eRs; RBI's digital rupee explained [see how it works]

The Reserve Bank of India (RBI) had, last week, announced that it will commence a pilot project of digital rupee (eRs) for specific use cases in the wholesale segment from November 1.

Nov 6, 2022

Reserve Bank of India to launch digital rupee pilot project today

The Reserve Bank of India (RBI) will today launch the nation's first digital rupee pilot project for the wholesale segment.

Nov 1, 2022

RBI asks Mahindra Financial services to cease immediately from using recovery agents

In other words, the company was directed not to use services of any outside agency for loan recovery purpos

Sep 23, 2022

What's Card Tokenisation? New RBI norms come into effect from Oct 1

Several people were cheated in the last few years by cyber frauds because they have stored their card data on the merchants website for future payments.

Sep 17, 2022

India set to become 3rd largest economy by 2029 as nation witnesses rapid economic growth

Recently, India surpassed the United Kingdom to become the fifth largest economy in the world

Sep 4, 2022

RBI: Credit growth outpaced deposit growth of banks in June

Credit growth outpaced deposit growth for commercial banks in June, the Reserve Bank of India (RBI) said in its quarterly statistics on deposit and credit of commercial banks for June 2022 released on Thursday.

Aug 25, 2022

RBI lifts business curbs imposed on American Express Bank

The Reserve Bank of India (RBI) has lifted the business restrictions imposed on American Express Banking Corp due to the satisfactory compliance demonstrated by the entity to RBI rules, the central bank said in a release.

Aug 25, 2022

Overseas business: Govt simplifies overseas investment rules to ensure ease of doing business

The government has simplified the overseas investment rules with the aim of enhancing the 'ease of doing business' sentiment.

Aug 23, 2022

LIC Housing Finance hikes prime lending rate by 50 bps [details inside]

The RBI's decision to hike the repo rate by 50 basis points on 5th August was well measured and abreast with the global economic trend.

Aug 22, 2022

No service charge on UPI transactions, clarifies Centre [Details]

The Union Finance Ministry has clarified that no service charge would be levied on UPI transactions.

Aug 22, 2022

RBI Gold bonds: Second Sovereign Gold Bond Scheme series to open on August 22

The government has announced that the second series of the Sovereign Gold Bond Scheme for the current fiscal will open for subscription on August 22, and the issue price is Rs 5,197 per gram.

Aug 20, 2022

Most banks hike deposit rates ahead of festive season

Most banks are increasing their deposit rates for boosting deposit to support rising credit off-take as liquidity in the banking system has narrowed.

Aug 17, 2022

Forex: India's forex reserves rises after 4 weeks of fall

India's forex reserves rose around $2.4 billion during the week ending July 29 after falling for the four consecutive weeks. The rise was seen on back of positive inflows by the foreign investors in the Indian equity market.

Aug 6, 2022

Economy: Bank of Baroda to raise Rs 1,000 cr via infrastructure & affordable housing bonds

Bank of Baroda, the second largest state-owned bank, is planning to raise Rs 1,000 crore through issuance of infrastructure and affordable housing bonds on August 12, a source close to the development told IANS.