Reserve Bank of India (RBI)

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

india, india forex reserves, rbi, foreign exchange reserves, fii, fpi, fdi, modi govt, arun jaitley, india trade

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

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

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

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