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Representational image. | Photo Credit: The Hindu The Rupee gained two paise to settle at 82.89 (provisional) against the U.S. dollar in a range-bound trade on February 26, tracking volatility in the equity market. Forex traders said inflow of foreign funds and softer crude oil prices provided support to the Indian currency. “Also, the dollar…
Read More “Rupee settles two paise higher at 82.89 against U.S. dollar” »
Paytm, on February 9, announced setting up of a group advisory committee to advise the company on strengthening compliance and on regulatory matters. | Photo Credit: The Hindu Shares of Paytm owner One97 Communications jumped 5% in the morning trade on February 26 after Reserve Bank of India (RBI) asked retail payment settlement body NPCI…
Read More “Paytm shares jumped 5% in the morning trade on February 26, 2024” »
A set of newly identified banks will need to back the Paytm app. The Reserve Bank of India said on Friday it has asked the National Payments Corporation of India to examine a request from Paytm, formally known as One 97 Communications, to become a third party application provider (TPAP). If approved, this would allow…
Read More “RBI’s Measure Over Paytm Request “For Continued UPI Operation”” »
Visa did not say why the Reserve Bank of India has issued the directive. | Photo Credit: Reuters Visa said on February 14 that the Reserve Bank of India (RBI), which is also the country’s financial market regulator, had directed it last week to halt all domestic transactions for Business Payment Solution Providers (BPSPs). BPSPs…
Read More “Visa halts intermediated commercial card payments in India after RBI’s directive” »
Reserve Bank of India Governor Shaktikanta Das. | Photo Credit: PTI The Reserve Bank of India (RBI) on February 8 projected GDP growth for the next financial year at 7% on the back of improved household consumption and upturn in private capex cycle. The real GDP growth is, however, lower than 7.3% estimated by the…
Read More “RBI pegs FY’25 GDP growth at 7% on improved consumption demand, private capex spends” »
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…
Read More “RBI to introduce offline eRupee transactions soon: Shaktikanta Das” »
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…
Read More “Paytm nears record low, market value down about $2.5 billion since RBI crackdown” »
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,…
Read More “RBI Appoints Manoranjan Mishra As New Executive Director” »
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…
Read More “RBI Governor Says “Closely” Watching High Attrition At Some Private Banks” »
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…
Read More “Banks To Allow Premature Withdrawal On Term Deposits Of Up To 1 Crore: RBI” »