Tag: Reserve Bank of India

RBI To Allow Small Finance Banks To Extend Credit Lines Through UPI

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RBI To Allow Small Finance Banks To Extend Credit Lines Through UPI

“Necessary guidelines will be issued shortly,” RBI governor Shaktikanta Das said. (Representational) Mumbai: The Reserve Bank on Friday proposed to allow small finance banks to extend pre-sanctioned credit lines through Unified Payments Interface (UPI). UPI is an instant real-time payment system developed by NPCI for transactions through mobile phones. In September 2023, the scope of…

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RBI to allow small finance banks to extend credit lines through UPI

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RBI to allow small finance banks to extend credit lines through UPI

Security Personnel passes by a logo of Reserve Bank of India outside RBI Headquarters in Mumbai on December 6, 2024. | Photo Credit: Emmanual Yogini The Reserve Bank on Friday (December 6, 2024) proposed to allow small finance banks to extend pre-sanctioned credit lines through Unified Payments Interface (UPI). UPI is an instant real-time payment…

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Reserve Bank’s MPC starts deliberations on bi-monthly monetary policy

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Reserve Bank’s MPC starts deliberations on bi-monthly monetary policy

 The decision taken at the RBI Governor Shaktikanta Das headed six-member Monetary Policy Committee will be announced on Friday (December 6, 2024) | Photo Credit: Reuters Reserve Bank’s high level panel on Wednesday (December 4, 2024) started deliberations on the bi-monthly monetary policy amid expectations of status quo on interest rate as the retail inflation…

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Cryptocurrencies Are Huge Risks To Financial Stability, Says RBI Governor

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Cryptocurrencies Are Huge Risks To Financial Stability, Says RBI Governor

RBI Governor said this during his appearance at the Peterson Institute for International Economics.(File) Washington: Cryptocurrencies are huge risks to financial stability and monetary stability, Reserve Bank of India Governor Shantikanta Das said Friday, asserting it may create a situation where the central bank may lose control of money supply in the economy. “I am…

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India’s forex kitty drops by $3.71 billion to $701.176 billion

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India’s forex kitty drops by .71 billion to 1.176 billion

Image used for representation purpose only. | Photo Credit: The Hindu India’s forex reserves dropped by $3.709 billion to $701.176 billion for the week ended October 4, the RBI said on Friday (October 11, 2024). In the previous reporting week, the reserves had jumped by $12.588 billion to an all-time high of $704.885 billion. For…

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RBI asks banks to ensure easier accessibility for payment systems to persons with disabilities

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RBI asks banks to ensure easier accessibility for payment systems to persons with disabilities

Reserve Bank of India. File | Photo Credit: Reuters On Friday (October 11, 2024), the Reserve Bank of India (RBI) asked banks to review their payment systems to ensure easier accessibility to persons with disabilities. All sections of the population, including differently-abled persons, are increasingly adopting digital payment systems, it said in a circular. “To…

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Stock markets close lower on fag-end selling as RBI changes stance to neutral

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Stock markets close lower on fag-end selling as RBI changes stance to neutral

Image for representational purposes only. | Photo Credit: REUTERS Benchmark equity indices Sensex and Nifty pared early gains to settle lower on Wednesday (October 9, 2024) due to late selling in index major Reliance Industries, ITC and HDFC Bank even as the RBI took the first step towards a rate cut in its monetary policy…

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Rupee rises 5 paise to 83.92 against U.S. dollar in early trade

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Rupee rises 5 paise to 83.92 against U.S. dollar in early trade

Image for representational purposes only. | Photo Credit: Getty Images The rupee appreciated 5 paise to 83.92 against the U.S. dollar in early trade on Wednesday (October 9, 2024), ahead of the Reserve Bank of India’s monetary policy announcement. Most major central banks have pivoted toward rate cuts, with the U.S. Fed being the latest…

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RBI Keeps Key Lending Rate Unchanged At 6.5% For 10th Consecutive Time

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RBI Keeps Key Lending Rate Unchanged At 6.5% For 10th Consecutive Time

The Monetary Policy Committee had last changed the key interest rate in February 2023. New Delhi: The Reserve Bank of India (RBI) has kept its key interest rate unchanged for the tenth consecutive time, its governor Shaktikanta Das announced today. A six-member Monetary Policy Committee (MPC) headed by Mr Das kept the repo rate unchanged…

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