Reserve Bank of India (RBI)

Here's why ATMs across India are facing cash crunch

News reports from various states, including Andhra Pradesh, Madhya Pradesh, Telengana, Maharashtra and Bihar, said that automated teller machines (ATMs) were facing a cash crunch.

Apr 18, 2018

Overseas money transfer: RBI to monitor remittance under LRS

The Reserve Bank of India has tightened its regulation norms on Liberalised Remittance Scheme under which an individual can transfer up to $2,50,000 abroad in a year.

Apr 13, 2018

IDBI Bank shares fall over 3% after RBI levies Rs 3 crore fine

The RBI's penalty will not have any material impact on the bank, IDBI stated in a filing to the Bombay Stock Exchange. But the bank's shares slipped to a one-week low.

Apr 12, 2018

Cryptocurrency scams on the rise: Indian policemen arrested for extorting bitcoins

Policemen are booked for extorting bitcoins worth Rs 120 million from a Surat-based builder and real estate player.

Apr 11, 2018

Axis Bank's CEO to step down early: Is RBI behind the decision?

The lender's board had decided to re-appoint Sharma for a period of 3 years, however, she requested to revise her term from June 1 up to December 31.

Apr 10, 2018

Check list of 11 public sector banks under RBI scanner over NPAs

Government sources reportedly confirmed that more banks are expected to be brought under the Prompt Corrective Action (PCA) framework because of deteriorating performance.

Apr 9, 2018

Petition against India's crackdown on cryptocurrencies gains 17,000 signatures

According to the petition, the RBI's decision could lead to an increase of irregular cash trading of cryptocurrencies in India.

Apr 9, 2018

RBI's cryptocurrency clampdown: What happens to your Bitcoin investment?

The government has already cautioned the public over cryptocurrencies, and the RBI has declared that it does not consider bitcoins and others as legal tender.

Apr 9, 2018

Following RBI's crackdown, cryptocurrency exchanges look to shift base abroad

The Reserve Bank of India has banned all financial firms from dealing with or providing services to any individuals or business entities dealing with or settling virtual currencies.

Apr 9, 2018

Is RBI planning to launch its own cryptocurrency code-named Lakshmi?

If introduced, Lakshmi would run on an implementation of the blockchain technology, which is the backbone of digital currencies like bitcoins.

Apr 6, 2018

RBI monetary policy review: Repo rate unchanged at 6 percent

The Reserve Bank of India on Thursday kept its key lending rate, the repo rate, unchanged at 6 percent.

Apr 5, 2018

Banks may be charging a flat fee for SMS alerts -- illegally

The uniform billing by some of the lenders for SMS alerts is against the Reserve Bank of India's advisory.

Apr 5, 2018

No respite for borrowers as RBI links base rate with MCLR

The move comes at a time when the interest rates are poised to rise after nearly four years easing cycle, according to market experts.

Apr 4, 2018

What jobs growth? Employment rate actually fell under Modi govt

The employment rate in India shrank by 0.1 percent in the financial year 2015-16 and by 0.2 percent in 2014-15.

Mar 29, 2018

UPI winning the race: India's homegrown payment system beats Visa, Mastercard

The interface is regulated by the RBI and works by instantly transferring funds between two bank accounts on a mobile platform.

Mar 26, 2018

New record in outbound remittances: Know how much money Indians send abroad

According to Reserve Bank of India data, outbound remittances by individual residents reached $1.2 billion in January 2018.

Mar 26, 2018

Indian economy enjoying Goldilocks moment: Are we going the U.S. way?

The latest economic data showed that factories increased production faster while retail inflation eased for the second straight month in February.

Mar 13, 2018

PNB fraud: All state-run banks exposed to Rs 12,000 crore scam

In the light of the Punjab National Bank scam, the Reserve Bank of India has started a special audit of public sector banks.

Mar 12, 2018

RBI slaps Rs 5 crore penalty on Airtel Payments Bank

The decision has been taken as Airtel Payments Bank violated the 'Operating Guidelines' and directions issued by RBI on Know Your Customer norms.

Mar 10, 2018

Did your mobile wallet stop working? Here is how you can reactivate it by complying with RBI's KYC rules

RBI has made KYC details mandatory for Prepaid Payment Instruments (PPIs), including digital wallets, in order to eliminate money laundering and fraud.

Mar 1, 2018