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New Delhi: India’s economic growth is poised to rebound as domestic demand regains strength, though the stickiness in food inflation warrants careful monitoring, the latest RBI Bulletin released on Friday said. An article on the ‘State of the Economy’ published in the January Bulletin also noted that the economic outlook for 2025 is divergent across…
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New Delhi: The RBI on Friday asked banks to use only the ‘1600xx’ phone numbering series to call customers for transactional purposes with a view to preventing financial fraud. It further said that for promotional purposes, banks and other regulated entities (REs) should use only the ‘140xx’ numbering series for the prevention of financial frauds…
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Image used for representational purpose | Photo Credit: Reuters The Reserve Bank of India (RBI) on Thursday (January 16, 2025) announced liberalised norms to encourage use of Indian Rupee and local/national currencies to settle cross border transactions. The decision comes at a time when the domestic currency is sliding and touched an all-time low of…
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Photo used for representation purpose only. | Photo Credit: Getty Images/iStockphoto India’s forex reserves dropped by $5.693 billion to $634.585 billion in the week ended January 3, the Reserve Bank of India said on Friday (January 10, 2025). In the previous reporting week, the overall kitty had declined by $4.112 billion to $640.279 billion. The…
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As the new year begins, many may wonder about the banking schedule for the first day of January 2025. The Reserve Bank of India (RBI) has announced closures in multiple regional offices to mark New Year’s Day and other regional celebrations. RBI Closures on January 1, 2025 According to the latest holiday list, on January…
Mumbai: Once or twice a month, the then Governor of the Reserve Bank of India would walk to Mumbai’s famous Strand Book Stall in the Fort area to check out the latest arrivals. Little did the bookstore’s staff know that this soft-spoken book-lover would become the country’s prime minister. A former staff member of Strand,…
Read More “Mumbai Book Shop Staff Recalls Manmohan Singh’s Visits As RBI Chief” »
Photo used for illustration purpose only. | Photo Credit: Reuters The country’s forex reserves dropped by a further $8.478 billion to $644.391 billion for the week ended December 20, the RBI said on Friday (December 27, 2024). In the previous reporting week, the reserves had dropped by $1.988 billion to a six-month low of $652.869…
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Mumbai: The number of bank frauds witnessed a significant on-year increase in the first half of the current fiscal to 18,461 cases and the amount involved jumped more than eight-fold to Rs 21,367 crore, according to RBI data released on Thursday. The Reserve Bank of India has released the Report on Trend and Progress of…
Read More “Banking Frauds Rise In H1FY25, Amount Involved Jumps 8-Time: RBI Report” »
In November, a Cabinet Minister reportedly stated at a press conference that the Reserve Bank of India (RBI) should focus on growth and not be concerned with food price inflation. Though the Minister clarified that he was speaking in his personal capacity, it is not in the spirit of things that once the central bank…
Reserve Bank of India (RBI) Deputy Governor Rajeshwar Rao. File. | Photo Credit: Reuters Reserve Bank Deputy Governor M. Rajeshwar Rao on Saturday (December 7, 2024) pitched for an enforceable code of conduct for the Committee of Creditors (CoC) under the insolvency resolution process. While emphasising that the Insolvency and Bankruptcy Code (IBC), which was…
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