Reserve Bank of India (RBI)

RBI drops the bombshell, raises the repo rate by 40 basis points to 4.40%

The RBI governor added that global oil prices are holding above USD 100 a barrel, which is seeping into local fuel prices, citing inflationary concerns.

May 4, 2022

India to become $ 5 trillion economy only by 2029 : IMF

It should be noted that the IMF decreased India's growth prediction for FY23 by 80 basis points to 8.2% in its latest World Economic Outlook report released last month.

May 4, 2022

RBI likely to get quite perturbed with inflation above 6% in three quarters

With inflation likely to exceed 6 per cent for three consecutive quarters, especially if energy prices remain elevated, the RBI is likely to get quite perturbed, Emkay Global Financial Services said in a report.

Apr 13, 2022

UPI123Pay: Feature phones can make UPI payments without internet; see how it works [details]

Users can utilise the 123PAY functionality to make payments, recharge FASTags for automobiles, pay utility bills, and check the amount of their UPI-linked account.

Mar 9, 2022

Sovereign Gold Bonds next series to be issued at Rs 5,109 per gram as prices increase

The issue price for Sovereign Gold Bonds' next series has been fixed at Rs 5,109 per gram of gold.

Feb 26, 2022

India's forex reserves decline again, down by over $1.7 bn in week ending Feb 11

India's foreign exchange reserves fell by $1.763 billion during the week ended February 11.

Feb 19, 2022

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RBI policy meet and LIC IPO filing to be key events; what to expect [details]

Markets in the week gone by behaved as if there were two distinct halves. The first three days of the week saw markets gain and then correct themselves in the remaining two days.

Feb 6, 2022

India to get its own digital currency by next year: FM in Budget speech

Union Finance Minister Nirmala Sitharaman on Tuesday announced the launch of India's own digital currency by the RBI next year that will be based on Blockchain technology, while the much-expected Cryptocurrency Bill is yet to see the light of the day.

Feb 1, 2022

RBI inches closer towards central bank digital currency; creates dedicated department [details]

It is to be noted that the department's mandate is to monitor "new age challenges" originating from fintech applications, and crypto is only a small portion of that mandate.

Jan 11, 2022

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India's forex reserves decline by over $1.4 bn in the last week of 2021

India's foreign exchange reserves declined by $1.466 billion during the week ended December 31, 2021.

Jan 8, 2022

US inflation hits 40-year high; here's how it will impact India [details]

Employers in the US have been rising compensation in response to labour shortages, and many have increased pricing to offset higher labour expenses, contributing to inflation.

Dec 11, 2021

RBI keeps lending rate unchanged at 4% as recovery remains prime focus

To push for a lasting economic recovery amid concerns over the Omicron variant of the coronavirus, the Reserve Bank of India on Wednesday retained its key lending rates intact during the pan-ultimate monetary policy review of FY22.

Dec 8, 2021

Goldman Sachs expects India's GDP to grow at 9.1%, CPI at 5.8% for 2022

India's gross domestic product (GDP) is expected to rise to 9.1 per cent in calendar year 2022, as compared to an estimated 8 per cent in 2021, Goldman Sachs said on Tuesday.

Nov 24, 2021

Shaktikant Das's tenure as RBI Governor extended for 3 years (Details)

Shaktikanta Das, a former IAS official from the 1980 batch, has held critical posts in the finance ministry. He has served as the secretary at the departments of revenue (DOR) and economic affairs (DEA).

Oct 29, 2021

RBI imposes Rs 1 Cr penalty on SBI; Rs.1.95 Cr on Standard Chartered

The bank was notified to show cause "why a penalty should not be levied for the non-compliance with the aforementioned directives".

Oct 19, 2021

RBI increases Transaction Limit in IMPS transfers to Rs 5 lakh

In order to promote digital transactions, the Reserve Bank of India (RBI) on Friday enhanced the transaction limit using Immediate Payment Service (IMPS) of banks to Rs 5 lakh.

Oct 8, 2021

Bloodbath at Dalaal Street: Here's why Sensex tanked more than 500 points on first day of week

A possible spillover of China's Evergrande's debt woes, a drop in commodity prices, and the outcome of the US Federal Reserve policy meeting were some of the triggers for the investors.

Sep 20, 2021

What is Bad Bank? How will it help Indian financial system (Explainer)

A 'Bad Bank' is a business structure that separates banks' riskier assets into a separate organization.

Sep 18, 2021

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

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