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As we usher in the new year, it would be great to know when the banks will be closed in January 2025. There will be approximately 15 bank holidays in the first month of the year, including the second and fourth Saturdays, along with Sundays, which are weekly holidays. The new year will begin with…
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Mumbai: The number of bank frauds witnessed a significant on-year increase in the first half of the current fiscal to 18,461 cases and the amount involved jumped more than eight-fold to Rs 21,367 crore, according to RBI data released on Thursday. The Reserve Bank of India has released the Report on Trend and Progress of…
Read More “Banking Frauds Rise In H1FY25, Amount Involved Jumps 8-Time: RBI Report” »
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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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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The RBI likely stepped in to support the rupee, with traders pointing to dollar sales by state-run banks. Representational image | Photo Credit: Reuters The Indian rupee weakened to a record low on Tuesday (December 10, 2024), pressured by heightened expectations of domestic rate cuts next year after the government named career civil servant Sanjay…
Read More “Indian rupee hits record low as appointment of new RBI chief spurs dovish bets” »
The decision taken at the RBI Governor Shaktikanta Das headed six-member Monetary Policy Committee will be announced on Friday (December 6, 2024) | Photo Credit: Reuters Reserve Bank’s high level panel on Wednesday (December 4, 2024) started deliberations on the bi-monthly monetary policy amid expectations of status quo on interest rate as the retail inflation…
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Image for representational purposes only. | Photo Credit: REUTERS Benchmark equity indices Sensex and Nifty pared early gains to settle lower on Wednesday (October 9, 2024) due to late selling in index major Reliance Industries, ITC and HDFC Bank even as the RBI took the first step towards a rate cut in its monetary policy…
Read More “Stock markets close lower on fag-end selling as RBI changes stance to neutral” »
RBI Monetary Policy: The repo rate is the interest rate at which the RBI lends money to commercial banks. The Reserve Bank of India’s Monetary Policy Committee (MPC) wrapped up its three-day deliberations today, deciding to maintain the repo rate at 6.5 per cent for the fourth consecutive time this fiscal year and the tenth…
The Monetary Policy Committee had last changed the key interest rate in February 2023. New Delhi: The Reserve Bank of India (RBI) has kept its key interest rate unchanged for the tenth consecutive time, its governor Shaktikanta Das announced today. A six-member Monetary Policy Committee (MPC) headed by Mr Das kept the repo rate unchanged…
Read More “RBI Keeps Key Lending Rate Unchanged At 6.5% For 10th Consecutive Time” »
The central bank said Rs 2,000 notes continue to be legal tender. Mumbai: The Reserve Bank of India on Tuesday said 98 per cent of the Rs 2,000 denomination notes have been returned since its May 2023 move to withdraw the currency notes. The total value of notes of the denomination has reduced to Rs…
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