Reserve Bank of India (RBI)

Adelia Castelino, Co-founder and Managing Director of ISG

RBI Approves In-Solutions Global for Prepaid Payment Instruments

In-Solutions Global Ltd (ISG) has been granted authorisation by the Reserve Bank of India (RBI) to establish a payment system for the issuance and operation of Prepaid Payment Instruments (PPI).

12 days ago

Debit card-based transactions drop 8 pc in Sep as UPI payments surge: RBI data

As UPI-based digital payments surge, debit card-based transactions dropped almost 8 per cent from nearly Rs 43,350 crore in August to about Rs 39,920 crore in September, according to the Reserve Bank of India's monthly data.

24 days ago

India gold reserves up 60 pc with 102 tonnes in April-Sept period: RBI data

As gold prices continue to surge amid geo-political tensions, the Reserve Bank of India (RBI) had 854.73 metric tonnes of gold as of September 30 and out of which, 510.46 metric tonnes were held domestically.

24 days ago

Mann Ki Baat: PM Modi warns of 'digital arrest', urges people to stay vigilant

Prime Minister Narendra Modi on Sunday addressed the issue of "digital arrest" in the 115th episode of 'Mann Ki Baat', labelling it as a fraudulent activity. He urged people to remain vigilant and safe.

27 days ago

Shaktikanta Das 25th governor of the Reserve Bank of India (RBI)

RBI Increases Limits for UPI 123Pay and UPI Lite Transactions

The Reserve Bank of India (RBI) has increased the pre-transaction limits for UPI 123Pay and UPI Lite payment mechanisms. Users can now conduct low-value UPI transactions of up to Rs 1,000 without entering the PIN, up from the previous limit of Rs 500.

Oct 9, 2024

RBI likely to maintain status quo as MPC meet begins, realty sector hopeful on repo rate

The Reserve Bank of India (RBI) is likely to maintain the status quo in its Monetary Policy Committee (MPC) meeting, said industry experts on Monday, as the much-anticipated three-day meeting began, led by Governor Shaktikanta Das, amid geo-political uncertainties.

Oct 7, 2024

UPI Transactions Skyrocket, India Leads in Digital Payments

India's digital economy has witnessed a significant milestone with the National Payments Corporation of India (NPCI) reporting a record-breaking surge in Unified Payments Interface (UPI) transactions in August. The data revealed a 41% year-on-year growth, with UPI transactions reaching an all-time high of 14.96 billion.

Sep 1, 2024

India records 26 pc jump in FDI flows in first quarter

The gross foreign direct investment (FDI) flowing into the Indian economy has surged by 26.4 per cent to $22.5 billion during the April-June quarter of the current financial year compared to the same quarter of the previous year, according to the RBI's latest monthly bulletin.

Aug 20, 2024

Going global: UAE opens Rupee payment mode via UPI to encourage Indian customers

The government of India has been promoting UPI as a global payment platform. Now merchants in the United Arab Emirates (UAE) are accepting payments via UPI in Rupees to attract Indian customers.

Aug 17, 2024

India 2nd only to US in number of banks covered under deposit insurance: RBI Dy Governor

India Ranks Second Globally in Deposit Insurance Coverage

In a recent global conference held in Jaipur, India, on August 13, 2024, RBI Deputy Governor Michael Debabrata Patra announced that India's Deposit Insurance and Credit Guarantee Corporation (DICGC) has extended coverage to 1,997 banks.

Aug 13, 2024

Inflation? What Else Prompted RBI to Hold Repo Rate Steady

RBI keeps repo rate at 6.5% to control inflation, leading to market decline. Despite this, there's optimism about the economy's long-term outlook and stable housing market

Aug 9, 2024

Inflation Concerns Prompt RBI to Hold Repo Rate Steady

RBI keeps repo rate at 6.5% to control inflation, leading to market decline. Despite this, there's optimism about the economy's long-term outlook and stable housing market

Aug 8, 2024

RBI forecasts 7.2 pc GDP growth on back of rising urban, rural demand

RBI Projects 7.2% GDP Growth Despite Global Uncertainties

The Reserve Bank of India (RBI) announced a projected GDP growth of 7.2% for India in the fiscal year 2024-25. This projection, made on August 8, 2024, is based on the strength of investment demand, steady urban consumption, and rising rural consumption.

Aug 8, 2024

RBI to end scam by fake loan apps, public repository to be created for digital lending apps

To address the problems arising from unauthorised digital lending apps (DLAs), the Reserve Bank proposes to create a public repository of DLAs deployed by its regulated entities to help consumers verify a digital lender.

Aug 8, 2024

UPI transactions reach Rs 20.64 lakh crore in July: NPCI

The Unified Payments Interface (UPI)-based transactions surged once again in the month of July, reaching Rs 20.64 lakh crore against Rs 20.07 lakh crore in the previous month – a massive 35 per cent surge (year-on-year), the data released by the National Payments Corporation of India (NPCI)

Aug 1, 2024

India's Forex reserves surge to lifetime high of $670.86 bn

India's foreign exchange (Forex) reserves rose for the third-consecutive week to touch a new lifetime high of $670.86 billion as of July 19, according to the latest data released by the RBI on Friday.

Jul 26, 2024

RBI tightens domestic Money Transfer rules, adds new security factors

The Reserve Bank of India (RBI) has tightened rules for domestic money transfers, requiring banks to record the name and address of beneficiaries. Remitting banks must register the remitter with a verified cell phone number and an 'Officially Valid Document (OVD)'.

Jul 25, 2024

WPI inflation remains benign, food prices to rationalise in next 2-3 months: Experts

WPI Inflation Trends: Food Prices Yet to Stabilize

The economic landscape of India is witnessing a slight surge in the annual rate of Wholesale Price Index (WPI) inflation, which has edged up to 3.36% in June 2024, a minor increase compared to the same month of the previous year. This data, released by the Commerce Ministry, has been the subject of analysis by industry experts.

Jul 15, 2024

Users will be able to make UPI payments to UAE merchants now

UPI Payments now available in UAE; Dubai-bound travelers to benefit

In a significant move towards globalizing digital payments, the Indian Government has announced that Unified Payments Interface (UPI) will now be available in the United Arab Emirates (UAE). This development comes as part of the government's ongoing efforts to promote UPI as a fast and efficient digital payment method worldwide.

Jul 4, 2024

India records robust services sector growth in June, hiring at 2-year high

Survey of services sector shows robust growth in June, exports-wise

India's services sector has witnessed a robust growth in June, according to a survey conducted by HSBC. The growth was primarily driven by strong domestic demand and a record increase in export orders.

Jul 3, 2024