Tag: RBI

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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Indian rupee hits record low as appointment of new RBI chief spurs dovish bets

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Indian rupee hits record low as appointment of new RBI chief spurs dovish bets

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…

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Reserve Bank’s MPC starts deliberations on bi-monthly monetary policy

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Reserve Bank’s MPC starts deliberations on bi-monthly monetary policy

 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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Stock markets close lower on fag-end selling as RBI changes stance to neutral

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Stock markets close lower on fag-end selling as RBI changes stance to neutral

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…

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RBI Keeps Key Lending Rate Unchanged At 6.5% For 10th Consecutive Time

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RBI Keeps Key Lending Rate Unchanged At 6.5% For 10th Consecutive Time

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…

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98% Of Rs 2,000 Notes Have Been Returned Since Withdrawal Order: RBI

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98% Of Rs 2,000 Notes Have Been Returned Since Withdrawal Order: RBI

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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Axis Bank, HDFC Bank Fined 2.91 Crore By RBI For Deficiencies In Regulatory Compliance

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Axis Bank, HDFC Bank Fined 2.91 Crore By RBI For Deficiencies In Regulatory Compliance

Representational Image Mumbai: The Reserve Bank of India (RBI) has imposed penalties totalling Rs 2.91 crore on Axis Bank and HDFC Bank for certain deficiencies in statutory and regulatory compliance. In a statement on Tuesday, the RBI said a penalty of Rs 1.91 crore has been imposed on Axis Bank for contravention of certain provisions of…

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97.96% Rs 2,000 Notes Returned, Rs 7,261 Crore Worth Notes Still With Public

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98% Of Rs 2,000 Notes Have Been Returned Since Withdrawal Order: RBI

The Rs 2000 banknotes were introduced in November 2016. Mumbai: The Reserve Bank of India (RBI) on Monday said 97.96 per cent of the Rs 2000 denomination banknotes have returned to the banking system, and only Rs 7,261 crore worth of the withdrawn notes are still with the public. On May 19, 2023, the RBI…

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