Tag: Reserve Bank of India

Microsoft CrowdStrike outage: Only 10 banks and NBFCs had minor disruptions, says RBI

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Microsoft CrowdStrike outage: Only 10 banks and NBFCs had minor disruptions, says RBI

A logo of RBI inside its office in New Delhi. File | Photo Credit: Reuters Microsoft said on July 19 that it is investigating a host of issues with Azure in the Central U.S. region, but users in India, and globally, are also raising complaints. The outage has caused disruptions in air traffic, forcing airports…

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Union Budget 2024: NBFC sector seeks more funds to improve liquidity, regulatory reforms from Budget

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Union Budget 2024: NBFC sector seeks more funds to improve liquidity, regulatory reforms from Budget

As of the end of March 2024, NBFCs had a CRAR of 26.6%, a GNPA ratio of 4.0% and a return on assets (RoA) of 3.3%. (Representational image only) Ahead of the upcoming Union Budget scheduled to be presented on July 23, the Non-Banking Financial Company (NBFC) sector is expecting enhanced financial inclusion and reinforcing digitalisation…

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India to clock GDP growth of 7% in FY25: NITI Aayog member Arvind Virmani

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India to clock GDP growth of 7% in FY25: NITI Aayog member Arvind Virmani

Arvind Virmani, NITI Ayog member. File | Photo Credit: Special arrangement “The Indian economy will grow around 7% in the current fiscal year and is on track to maintain a similar growth rate for several years,” NITI Aayog member Arvind Virmani said on July 12. Mr. Virmani said there are new challenges facing the country…

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Rupee rises 2 paise to 83.49 against U.S. dollar in early trade

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Rupee rises 2 paise to 83.49 against U.S. dollar in early trade

Indian twenty rupee currency notes are displayed at a roadside currency exchange stall in New Delhi. | Photo Credit: REUTERS The rupee traded in a narrow range and appreciated 2 paise to 83.49 against the U.S. dollar in early trade on July 11, as a positive trend in domestic equities supported the local unit, while…

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Financial inclusion index rises with growth across all segments: RBI

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Financial inclusion index rises with growth across all segments: RBI

The Reserve Bank of India. File | Photo Credit: Reuters The Reserve Bank’s FI-Index, capturing the extent of financial inclusion across the country, rose to 64.2 in March 2024, showing growth across all parameters. The index captures information on various aspects of financial inclusion in a single value ranging between 0 and 100, where 0…

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RBI proposes rationalising regulations on export, import transactions

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RBI proposes rationalising regulations on export, import transactions

Photo used for representation purpose only. | Photo Credit: Reuters The RBI on July 2 proposed rationalising regulations that cover export and import transactions with an aim to promote ease of doing business and empower banks to provide more efficient service to their foreign exchange customers. The central bank has issued ‘Regulation of Foreign Trade…

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Need to eliminate biases in algorithms as AI on the rise: RBI Governor Shaktikanta Das

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Need to eliminate biases in algorithms as AI on the rise: RBI Governor Shaktikanta Das

Reserve Bank of India Governor Shaktikanta Das. File | Photo Credit: PTI RBI Governor Shaktikanta Das on Friday emphasised on the need to eliminate biases in algorithms as the use of artificial intelligence (AI) and machine learning (ML) is on the rise. Delivering the inaugural address at the 18th Statistics Day Conference organised by the…

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