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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…
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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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“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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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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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…
Read More “Reserve Bank’s MPC starts deliberations on bi-monthly monetary policy” »
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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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…
Read More “India’s forex kitty drops by $3.71 billion to $701.176 billion” »
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…
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…
Read More “Stock markets close lower on fag-end selling as RBI changes stance to neutral” »