Reserve Bank of India (RBI)

Inflation Concerns Prompt RBI to Hold Repo Rate Steady

RBI keeps repo rate at 6.5% to control inflation, leading to market decline. Despite this, there's optimism about the economy's long-term outlook and stable housing market

Aug 8, 2024

RBI forecasts 7.2 pc GDP growth on back of rising urban, rural demand

RBI Projects 7.2% GDP Growth Despite Global Uncertainties

The Reserve Bank of India (RBI) announced a projected GDP growth of 7.2% for India in the fiscal year 2024-25. This projection, made on August 8, 2024, is based on the strength of investment demand, steady urban consumption, and rising rural consumption.

Aug 8, 2024

RBI to end scam by fake loan apps, public repository to be created for digital lending apps

To address the problems arising from unauthorised digital lending apps (DLAs), the Reserve Bank proposes to create a public repository of DLAs deployed by its regulated entities to help consumers verify a digital lender.

Aug 8, 2024

UPI transactions reach Rs 20.64 lakh crore in July: NPCI

The Unified Payments Interface (UPI)-based transactions surged once again in the month of July, reaching Rs 20.64 lakh crore against Rs 20.07 lakh crore in the previous month – a massive 35 per cent surge (year-on-year), the data released by the National Payments Corporation of India (NPCI)

Aug 1, 2024

India's Forex reserves surge to lifetime high of $670.86 bn

India's foreign exchange (Forex) reserves rose for the third-consecutive week to touch a new lifetime high of $670.86 billion as of July 19, according to the latest data released by the RBI on Friday.

Jul 26, 2024

RBI tightens domestic Money Transfer rules, adds new security factors

The Reserve Bank of India (RBI) has tightened rules for domestic money transfers, requiring banks to record the name and address of beneficiaries. Remitting banks must register the remitter with a verified cell phone number and an 'Officially Valid Document (OVD)'.

Jul 25, 2024

WPI inflation remains benign, food prices to rationalise in next 2-3 months: Experts

WPI Inflation Trends: Food Prices Yet to Stabilize

The economic landscape of India is witnessing a slight surge in the annual rate of Wholesale Price Index (WPI) inflation, which has edged up to 3.36% in June 2024, a minor increase compared to the same month of the previous year. This data, released by the Commerce Ministry, has been the subject of analysis by industry experts.

Jul 15, 2024

Users will be able to make UPI payments to UAE merchants now

UPI Payments now available in UAE; Dubai-bound travelers to benefit

In a significant move towards globalizing digital payments, the Indian Government has announced that Unified Payments Interface (UPI) will now be available in the United Arab Emirates (UAE). This development comes as part of the government's ongoing efforts to promote UPI as a fast and efficient digital payment method worldwide.

Jul 4, 2024

India records robust services sector growth in June, hiring at 2-year high

Survey of services sector shows robust growth in June, exports-wise

India's services sector has witnessed a robust growth in June, according to a survey conducted by HSBC. The growth was primarily driven by strong domestic demand and a record increase in export orders.

Jul 3, 2024

UPI transactions in June surge 49 per cent YoY at 13.89 billion

The Unified Payments Interface (UPI)-based transactions reached 13.89 billion in June, surging 49 per cent on a year-on-year (YoY) basis, data by the National Payments Corporation of India (NPCI) showed on Monday.

Jul 2, 2024

India and ASEAN Unite for Cross-Border Payments

The Reserve Bank of India (RBI) has made a significant stride towards financial integration by collaborating with four ASEAN countries to establish a platform for instantaneous cross-border retail payments.

Jul 1, 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

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

Rahul Dares PM Modi To Promise Removal Of 50 Pc Quota Limit, Says 'Cong Will Do If Voted To Power'

Rahul Gandhi dares PM Modi to promise removal of 50 pc quota limit, says 'Cong will do if voted to power'

Congress leader Rahul Gandhi on Sunday asked Prime Minister Narendra Modi to remove the 50 per cent limit on the reservation and promised that the Congress, if elected to power, will enhance the overall quota beyond 50 per cent.

May 5, 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

RBI issues new order on credit cards to give customers more choice

The RBI on Wednesday issued a directive barring credit card issuers (banks and non-banks) from entering into any arrangement or agreement with card networks such as American Express, MasterCard Asia, Diners Club and Rupay that restrain them from availing the services of other card networks.

Mar 6, 2024