Reserve Bank of India (RBI)

Banks face Rs.10K fine if their ATMs fail to dispense cash for more than 10 hrs

In huge relief for the common man, the Reserve Bank of India (RBI) has decided to charge penalties on banks for non-availability of cash in ATMs.

Aug 11, 2021

The RBI leaves key interest rates unchanged at 4%; Maintains protective shield for recovery

The Reserve Bank of India kept its key short-term lending rates unchanged to protect the fledgling economic recovery. The central bank's Monetary Policy Committee (MPC) unanimously opted to keep the repo rate, or short-term lending rate, for commercial banks at 4%

Aug 6, 2021

India requires an active, counter-cyclical fiscal policy: Economic Survey.

India's April-June fiscal deficit reaches 18.2% of FY22 target

India's April-June budgetary fiscal deficit reached 18.2 per cent of the FY22 target, official data showed on Friday.

Jul 31, 2021

India's retail inflation eases sequentially in June; remains above 6% [details]

On a monthly basis, India's retail inflation dropped in June. Last month, the Consumer Price Index (CPI) fell to 6.26 percent from 6.30 percent in May.

Jul 13, 2021

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India's forex reserves rise by just $1 bn, compared to $5 bn in previous week

India's foreign exchange reserves rose by $1.013 billion during the week ended July 2.

Jul 10, 2021

India's forex reserves rise by over $5 bn, back to $608.9 billion

According to the Reserve Bank of India's (RBI) weekly statistical supplement, the reserves increased to $608.999 billion from $603.933 billion reported for the week ended June 18.

Jul 3, 2021

People are saving less as inflation is surpassing past record

According to the Reserve Bank of India's (RBI) Preliminary Estimates of Household Financial Savings, the economy's openness and the easing of Covid infections last year had an impact on household financial savings.

Jun 23, 2021

India's foreign exchange reserves rise by $3bn last week, reach $608bn

According to the Reserve Bank of India's (RBI) weekly data supplement, foreign exchange reserves increased to $608.081 billion from $605.008 billion. The country's reserve position with the International Monetary Fund (IMF) increased by $11 million to $5.011 billion.

Jun 19, 2021

HDFC Bank's mobile app down, bank says 'looking on priority' [issue now resolved]

Users of HDFC Bank have been experiencing troubles with the bank's mobile banking application throughout the day. The bank has stated that it is looking into the issue on a priority basis and has advised customers to finish their transactions via net banking.

Jun 15, 2021

RBI asks banks to refund 'interest on interest' collected during Covid moratorium on loans

The Reserve Bank of India (RBI) has directed all banks and NBFCs to immediately put in place a board-approved policy to refund or adjust the 'interest on interest' charged to borrowers during the moratorium period of March 1 to August 31, 2020.

Apr 8, 2021

Banks to conduct special clearing of govt cheques on Mar 31

The Reserve Bank of India (RBI) has said that banks will conduct special clearing operations exclusively for government cheques on March 31 to facilitate accounting of all the government transactions for the current financial year.

Mar 29, 2021

RBI may have to delay liquidity normalisation amid rising COVID cases

Though analysts are unlikely to rush to review their long-term growth forecasts, several believe policy normalisation on interest rates and liquidity, may now take a backseat.

Mar 18, 2021

RBI keeps repo rate unchanged at 4%, projects real GDP growth for 2021 at -7.5%

The Reserve Bank of India (RBI) has revised the real GDP growth projection for FY21 upwards to (-) 7.5 per cent on the back signs of faster recovery after the narrowing of the GDP contraction for the July-September, along with hopes of Covid-19 vaccines.

Dec 4, 2020

RBI restricts HDFC bank from launching new digital business, issuing credit cards: Here's why

In a statement filed with the exchanges, HDFC bank said, "The above measures shall be considered for lifting upon satisfactory compliance with the major critical observations as identified by the RBI."

Dec 3, 2020

RBI's proposal to allow corporate houses into banking best left on shelf; ex-Guv Raghuram Rajan

Last week an RBI panel indicated that large companies could be allowed to open banks in India.

Nov 24, 2020

RBI puts Lakshmi Vilas Bank under moratorium; withdrawals capped at Rs 25,000 [details]

With the permission of RBI for medical treatment, fees for the payment of higher education, and marriage expenses, approval will be allowed to withdraw more money.

Nov 17, 2020

Indian Economy has entered first-ever technical recession [what it means]

Indian Economy is going through its toughest phase as the GDP numbers are tumbling due to severe lockdown. Scroll down to know more.

Nov 12, 2020

Meet the three economists, appointed to RBI's rate-setting Monetary Policy Committee

The government late on Monday, October 5 appointed three eminent economists Ashima Goyal, Jayanth R Varma and Shashanka Bhide as members of the rate-setting Monetary Policy Committee of the RBI.

Oct 6, 2020

RBI stands battle-ready to take whatever steps needed for Covid-hit Indian economy: Governor Shaktikanta Das

Governor Shaktikanta Das said some high-frequency indicators including agricultural activity, Purchasing Managers Index for manufacturing, certain private estimates for unemployment point to "some stabilisation" of economic activity in the second quarter of the current fiscal year.

Sep 16, 2020

RBI suggests measures to improve liquidity, boosts demand for govt bonds with yields monitored

RBI to allow banks to hold fresh acquisitions of SLR securities acquired from September 1, 2020 under HTM up to an overall limit of 22 percent of NDTL up to March 31, 2021.

Sep 1, 2020

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