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Reserve Bank of India Governor Shaktikanta Das. File | Photo Credit: PTI Digital Rupee users will soon be able to execute transactions in areas with limited internet connectivity as the Reserve Bank of India (RBI) on February 8 announced that offline capability will be introduced on the Central bank digital currency (CBDC) pilot project. RBI…
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Paytm. File. | Photo Credit: REUTERS Shares of Indian digital payments firm Paytm slumped 10% to a near record low on Monday, extending a rout from last week triggered by a regulatory crackdown on its banking unit. Paytm has lost about $2.5 billion or about 43% of its market value since the Reserve Bank of…
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Manoranjan Mishra has experience of over three decades in the RBI (Representational) The Reserve Bank of India (RBI) on Wednesday said it has appointed Manoranjan Mishra as Executive Director. As the Executive Director (ED), Manoranjan Mishra will look after the Enforcement Department, Risk Monitoring Department, and Department of External Investments & Operations. Prior to this,…
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RBI Governor said that geopolitical uncertainty is the biggest risk to global growth. Mumbai: RBI Governor Shaktikanta Das on Tuesday said attrition is seen to be high at some private sector banks and that the central bank is watching the issue “closely”. Speaking at the annual BFSI Insight Summit organised by Business Standard, Mr Das…
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The instructions have come into force with immediate effect, the RBI said in a circular. (File) Mumbai: The Reserve Bank on Thursday said banks will have to offer premature withdrawal facility on all term deposits of up to Rs 1 crore, raising the limit from Rs 15 lakh currently. Banks have been permitted to offer…
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The draft guidelines state such agents must be trained to handle their responsibilities with sensitivity. Mumbai: The Reserve Bank of India on Thursday proposed stricter norms for recovery of overdue loans under which financial institutions and their recovery agents cannot call borrowers before 8 in the morning and after 7 in the evening. Regulated Entities…
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Jayanth R. Varma said while external demand is weak due to the sluggishness in the world economy, the revival in private capital expenditure is still too tentative and muted. RBI MPC member Jayanth R. Varma on October 24 said that he is ‘little more’ optimistic about India’s economic growth than a few months ago, though…
Michael Debabrata Patra, RBI deputy governor, inaugurated the sub-office of the Reserve Bank of India, in Itanagar, Arunachal Pradesh, on October 20. File | Photo Credit: The Hindu Reserve Bank of India (RBI) has announced the opening of its sub-office in Itanagar, Arunachal Pradesh in the northeast of India. Dr. Michael Debabrata Patra, deputy governor, RBI,…
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In both cases, the RBI said the penalties are based on the deficiencies in regulatory compliance. File. | Photo Credit: EMMANUAL YOGINI The Reserve Bank on October 17 said it has imposed a penalty or ₹12.19 crore on ICICI Bank and ₹3.95 crore on Kotak Mahindra Bank for non-compliance of certain regulatory norms. The penalty…
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According to an analyst, the rupee traded within a narrow range even after more updates came in on the escalating conflict in Israel. File photo | Photo Credit: S.R. Raghunathan The rupee appreciated 3 paise to 83.22 against the US dollar on Wednesday, October 11, 2023, tracking cues from positive equity markets and a weaker American…
