Stay Connected. Stay Informed.
The rupee depreciated 4 paise to 83.24 against the US dollar in early trade on Wednesday, October 4, 2023, as the strength of the American currency and a weak trend in domestic equities exerted pressure on the local unit. Forex traders said sustained foreign fund outflows further dented investor sentiments. At the interbank foreign exchange,…
Read More “Rupee falls 4 paise to 83.24 against US dollar” »
File picture of a bank customer depositing ₹2,000 currency note | Photo Credit: R. Ragu The Reserve Bank of India (RBI) has extended the deadline for exchange and deposit of ₹2,000 bank notes until October 7, adding that the denomination will continue to be legal tender even after the date. From October 8, individuals and…
Read More “₹2,000 currency note can be deposited in RBI Issue Offices after October 7” »
The deadline to exchange Rs 2,000 notes has been extended New Delhi: The last date to exchange Rs 2,000 notes at banks has been extended till October 7, the Reserve Bank of India (RBI) said in a statement today. The RBI said the Rs 2,000 note will remain valid even after the deadline to exchange…
Read More “Last Date To Exchange Rs 2,000 Notes At Banks Extended Till October 7: RBI” »
After September 30, the Rs 2,000 notes can only be exchanged with the RBI. The last day for returning or exchanging Rs 2,000 denomination banknote is today. According to the Reserve Bank of India (RBI), from October 1, the Rs 2,000 currency note will cease to have its value and will be just another piece…
Read More “Last Date To Exchange Rs 2,000 Note Today. Will Banknotes Be Valid After Deadline?” »
The RBI cancelled the banking license of Lucknow Urban Co-operative Bank. (Representational) Mumbai: The Reserve Bank of India on Friday said it has cancelled the banking license of Lucknow Urban Co-operative Bank, as the lender does not have adequate capital and earning prospects. The Commissioner and Registrar of Cooperative, Uttar Pradesh, has also been requested…
Read More “RBI Cancels License Of Lucknow Urban Co-operative Bank” »
the RBI said that about 93 per cent of the Rs 2,000 banknotes have returned to the banking system. New Delhi: The Rs 2,000 denomination banknote will cease to have its value after Saturday and will be just another piece of paper if one does not get it exchanged in any bank, the Reserve Bank…
Read More “Last Date To Exchange Rs 2,000 Note Is September 30, Clarifies RBI” »
The RBI said it has cancelled the licence of The Kapol Co-operative Bank Limited. (Representational) Mumbai: The RBI on Monday said it has cancelled the license of Mumbai-based The Kapol Co-operative Bank Limited as the lender does not have adequate capital and earning prospects. Consequent to the cancellation of the license, the cooperative bank has…
Read More “RBI Cancels License Of Mumbai-Based ‘The Kapol Co-Operative Bank’” »
HDFC Bank has informed the stock exchanges that its subsidiary HDFC Asset Management Company Ltd has received approvals from the Reserve Bank of India (RBI) via different letters dated September 20, 2023, to acquire “aggregate holding” of up to 9.5% of the paid-up share capital or voting rights in each of the banks namely DCB…
Read More “HDFC AMC allowed to acquire aggregate holding of upto 9.5% each in 5 banks” »
Recently, some states have announced reversal to the OPS from NPS. (Representational) Mumbai: States reverting to the old pension scheme is a “major step backwards” and may take the fiscal stress of states to “unsustainable levels” in the medium to long term, according to an article by RBI staffers. The article by Rachit Solanki, Somnath…
Read More “States Shifting To Old Pension Scheme Major Step Backwards: RBI Article” »
As per the latest RBI’s directive, the borrower will be given the option of collecting the original movable / immovable property documents either from the branch where the loan account was serviced or from any other office of the RE where the documents are available. The Reserve Bank of India (RBI) has issued directions to…