Stay Connected. Stay Informed.
The retail inflation in February was 5.1%, while inflation in the food basket was at 8.66%. The Reserve Bank of India (RBI) on April 5 said food price uncertainties continue to weigh on the inflation trajectory going forward, even as it retained 4.5% retail inflation projection for the current fiscal. In its first bi-monthly monetary…
The spike in food prices has kept the Reserve Bank of India (RBI) worried even though overall inflation has moderated to a certain extent. On April 5, the Central bank’s Monetary Policy Committee decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50%. This is the seventh time that…
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…
Read More “RBI Monetary Policy | Soon, deposit cash using UPI” »
RBI Governor Shaktikanta Das presented a memento to Prime Minister Narendra Modi during a ceremony to mark 90 years of the Reserve Bank of India in Mumbai on April 1, 2024. | Photo Credit: PTI Prime Minister Narendra Modi on April 1 said India needs to become economically self-reliant in the next ten years so…
Read More “India needs to become economically self-reliant: PM Modi” »
Paytm app will keep running even after March 15. Paytm, a major player in India’s fintech scene, is facing a setback as its banking arm, Paytm Payments Bank Ltd (PPBL), is stopping key services from today. This comes after the Reserve Bank of India imposed restrictions on the bank, citing serious rule violations. Customers relying on…
Read More “Paytm Payments Bank Shuts Down Today. Details Here” »
NHAIhas advisedPaytm FASTag users to procure a new FASTag. New Delhi: The Reserve Bank of India has shut down the Paytm Payments Bank and prohibited them from accepting new clients. After tomorrow, March 15, no new customer accounts, prepaid cards, Paytm Wallets, etc, will accept deposits, credit transactions, or top-ups, which also include FASTags. Paytm…
Read More “Is Your Paytm FASTag Account Closed? Here’s How To Check The Status” »
Image for representation purpose only. | Photo Credit: K. PIchumani The Telangana Government has decided to raise ₹2,000 crore open market borrowings through auction of securities. The government has submitted an indent to this effect to the Reserve Bank of India (RBI) which will take up the auction process through its core banking solution e-Kuber…
Read More “Telangana Govt to raise 2,000 crore market borrowings on March 12” »
The RBI and Bank Indonesia MoU covers all current account transactions, permissible capital account transactions and any other economic and financial transactions as agreed upon by both countries. | Photo Credit: Reuters The Reserve Bank of India (RBI) and the Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) on March 7 in Mumbai for…
The RBI directive means that a card issuing bank or non-bank can not force the card of any particular network on a customer. | Photo Credit: Reuters The Reserve Bank of India (RBI) has issued directions to card issuers not to enter into any arrangement or agreement with card networks that restrain them from availing…
Read More “RBI directs card issuers to provide options for customers to choose card networks” »
RBI has been engaging with IIFL Finance’s senior management and auditors (Representational) The Reserve Bank of India on Monday ordered non-bank finance company IIFL Finance to stop sanctioning, disbursing and selling gold loans with immediate effect, citing “material supervisory concerns” in its gold loan portfolio. There were “serious deviations” in assessing the gold taken as…
Read More “RBI Bars Non-Bank Finance Company From Offering Gold Loans” »