Tag: Reserve Bank of India

RBI pegs FY’25 GDP growth at 7% on improved consumption demand, private capex spends

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RBI pegs FY’25 GDP growth at 7% on improved consumption demand, private capex spends

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…

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RBI to introduce offline eRupee transactions soon: Shaktikanta Das

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RBI to introduce offline eRupee transactions soon: Shaktikanta Das

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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Rupee falls four paise to 83.02 against U.S. dollar in early trade

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Rupee falls four paise to 83.02 against U.S. dollar in early trade

The Rupee settled flat at 82.98 against the dollar on February 2, a day after rising six paise on the day of the Union Interim Budget. | Photo Credit: The Hindu The Rupee depreciated four paise to 83.02 against the U.S. dollar in early trade on February 5, tracking a strong American currency and rising…

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Paytm Payments Bank meltdown, its meaning | Explained

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Paytm Payments Bank meltdown, its meaning | Explained

Son of a schoolteacher from Aligarh district in Uttar Pradesh, Vijay Shekhar Sharma was enamoured by Jack Ma-run Alibaba’s focus on smartphones rather than desktop computers, when he built a digital payments company that would let Indians pay for vegetables, pay utility bills or buy cinema tickets using their mobile phones. Mr. Sharma, the poster…

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Reserve Bank of India opens sub-office in Arunachal Pradesh’s Itanagar

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Reserve Bank of India opens sub-office in Arunachal Pradesh’s Itanagar

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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RBI imposes penalty on ICICI Bank, Kotak Mahindra Bank for violation of norms

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RBI imposes penalty on ICICI Bank, Kotak Mahindra Bank for violation of norms

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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₹2,000 notes worth ₹3.43 lakh crore have come back: RBI Governor

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₹2,000 notes worth ₹3.43 lakh crore have come back: RBI Governor

On May 19, 2023, the RBI announced its intent to withdraw the ₹2,000 notes introduced in 2016 for quick remonetisation. File | Photo Credit: The Hindu Governor Shaktikanta Das on October 6 said ₹3.43 lakh crore of ₹2,000 denomination notes have come back to the system so far, and reminded the public that they can…

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RBI to harmonise Internal Ombudsman framework to strengthen customer grievance mechanism: Shaktikanta Das

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RBI to harmonise Internal Ombudsman framework to strengthen customer grievance mechanism: Shaktikanta Das

RBI governor Shaktikanta Das. File | Photo Credit: ANI With a view to strengthen customer grievance redressal system, RBI governor Shaktikanta Das on October 6 said the Central bank decided to effect certain changes and also consolidate and harmonise the Internal Ombudsman guidelines into a single master direction. “This will further strengthen the customer grievance…

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RBI To Release Monetary Policy Statement Today, Pause In Repo Rate Likely

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RBI To Release Monetary Policy Statement Today, Pause In Repo Rate Likely

The RBI’s decision will be influenced by several factors New Delhi: The Reserve Bank of India (RBI) will on Friday announce its bimonthly monetary policy statement which is closely watched by financial market participants. The statement by RBI Governor Shaktikanta Das on Friday morning will be followed by a press conference. The three-day bi-monthly monetary…

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