Tag: rbi news

To Curb Fraud, Banks May Soon Call You From Numbers Starting With These Digits

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To Curb Fraud, Banks May Soon Call You From Numbers Starting With These Digits

New Delhi: The RBI on Friday asked banks to use only the ‘1600xx’ phone numbering series to call customers for transactional purposes with a view to preventing financial fraud. It further said that for promotional purposes, banks and other regulated entities (REs) should use only the ‘140xx’ numbering series for the prevention of financial frauds…

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Nation

Economy Recovering From Slowdown Witnessed In 2nd Quarter: RBI Bulletin

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Economy Recovering From Slowdown Witnessed In 2nd Quarter: RBI Bulletin

Mumbai: The Indian economy is recovering from the slowdown in momentum witnessed in the September quarter, driven by strong festival activity and a sustained upswing in rural demand, according to a Reserve Bank of India (RBI) bulletin released on Tuesday. An article on the ‘State of the Economy’ in the December bulletin noted that the…

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RBI approves Burman family entities’ open offer to acquire 26% additional stake in REL

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RBI approves Burman family entities’ open offer to acquire 26% additional stake in REL

The Reserve Bank has approved the open offer of Burman family — the promoters of FMCG major Dabur — to acquire an additional 26% stake in NBFC firm Religare Enterprises Ltd (REL). The central bank also directed maintaining of the current board/management structure of REL. The Reserve Bank of India (RBI) said it has granted…

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Business

Rupee falls 7 paise to 84.73 against US dollar in early trade

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Rupee falls 7 paise to 84.73 against US dollar in early trade

At the interbank foreign exchange, the rupee opened at 84.70 against the greenback, then touched 84.73 in the initial trade, registering a fall of 7 paise over its previous close. Representational image. The rupee fell 7 paise to trade at 84.73 against the U.S. dollar in early trade on Monday (December 9, 2024) dragged down…

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Business

PPF returns still languishing lower than formula-based rates: RBI 

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PPF returns still languishing lower than formula-based rates: RBI 

The RBI indicated that the interest rates offered by the Union government on two of India’s most popular small savings schemes continue to languish below the rates they should have earned as per a formula-based system adopted since April 2016. File | Photo Credit: Reuters The interest rates offered by the Union government on two of…

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Business

RBI approves ₹2.11 lakh crore dividend payout to govt for 2023-24

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RBI approves ₹2.11 lakh crore dividend payout to govt for 2023-24

The Reserve Bank of India approved a ₹2.11 lakh crore dividend payout to the central government for 2023-24. | Photo Credit: Reuters The Reserve Bank of India (RBI) on May 22 approved a ₹2.11 lakh crore dividend payout to the central government for 2023-24, more than double the amount it paid for the previous 2022-23…

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Business

Monetary Policy | RBI to allow foreign investors in IFSC to invest in Sovereign Green Bonds

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Monetary Policy | RBI to allow foreign investors in IFSC to invest in Sovereign Green Bonds

Image for representation | Photo Credit: Reuters The Reserve Bank of India (RBI) has decided to facilitate wider non-resident participation in the Sovereign Green Bonds by permitting eligible foreign investors in the International Financial Services Centre (IFSC) to invest in such bonds. “A scheme for investment and trading in SGrBs by eligible foreign investors in…

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Business

RBI Monetary Policy | Soon, deposit cash using UPI

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RBI Monetary Policy | Soon, deposit cash using UPI

Image for representation only | Photo Credit: C. Venkatachalapathy The Reserve Bank of India has proposed to facilitate cash deposit facility in banks through the use of UPI, an instant real-time payment system for inter-bank transactions through mobile phones. ALSO READ | RBI Monetary Policy LIVE updates  “Given the popularity and acceptance of UPI, as…

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Business

RBI Monetary Policy | MPC holds rate at 6.5% to tame inflation, FY25 real GDP growth projected at 7%, CPI inflation at 4.5%

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RBI Monetary Policy | MPC holds rate at 6.5% to tame inflation, FY25 real GDP growth projected at 7%, CPI inflation at 4.5%

The Monetary Policy Committee (MPC) on April 5 decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50%. This is the 7th time that the rates have been kept on hold. The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns to the…

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