Reserve Bank of India (RBI)

UPI transactions in June surge 49 per cent YoY at 13.89 billion

The Unified Payments Interface (UPI)-based transactions reached 13.89 billion in June, surging 49 per cent on a year-on-year (YoY) basis, data by the National Payments Corporation of India (NPCI) showed on Monday.

Jul 2, 2024

India and ASEAN Unite for Cross-Border Payments

The Reserve Bank of India (RBI) has made a significant stride towards financial integration by collaborating with four ASEAN countries to establish a platform for instantaneous cross-border retail payments.

Jul 1, 2024

RBI Revamps Forex Act 'FEMA' Guidelines to Boost Overseas Trade

The Reserve Bank of India (RBI) has decided to rationalize export and import guidelines to facilitate overseas trade.

Jun 7, 2024

RBI sees India as an emerging global hub for chips, electronics manufacturing

India's emerging sectors like renewable energy and semiconductors are expected to make rapid advances on the back of the recent initiatives by the government.

May 30, 2024

Rahul Dares PM Modi To Promise Removal Of 50 Pc Quota Limit, Says 'Cong Will Do If Voted To Power'

Rahul Gandhi dares PM Modi to promise removal of 50 pc quota limit, says 'Cong will do if voted to power'

Congress leader Rahul Gandhi on Sunday asked Prime Minister Narendra Modi to remove the 50 per cent limit on the reservation and promised that the Congress, if elected to power, will enhance the overall quota beyond 50 per cent.

May 5, 2024

RBI leaves key repo rate unchanged, focus on keeping inflation in check

The Reserve Bank of India (RBI), on Friday, left the key policy rate unchanged at 6.5 per cent in its monetary policy review for the seventh consecutive time, with the aim of keeping inflation in check and ensuring that the economy moves on a stable growth path.

Apr 5, 2024

RBI issues new order on credit cards to give customers more choice

The RBI on Wednesday issued a directive barring credit card issuers (banks and non-banks) from entering into any arrangement or agreement with card networks such as American Express, MasterCard Asia, Diners Club and Rupay that restrain them from availing the services of other card networks.

Mar 6, 2024

Here's all you need to know about RBI's Unclaimed Deposits portal

The Reserve Bank of India (RBI) on Tuesday issued a set of frequently asked questions (FAQs) about its UDGAM portal to help people recover their funds that are stuck in unclaimed deposits/ accounts with banks.

Mar 6, 2024

Shaktikanta Das, Governor, Reserve Bank of India

RBI not thinking of moving towards de-dollarisation: Governor

Reserve Bank of India (RBI) Governor Shaktikanta Das said that it is incorrect to say that there was a move towards de-dollarisation as the efforts of the central bank towards internationalisation of the rupee are not aimed at replacing the dollar.

Jan 17, 2024

RBI proposes stricter rules for housing finance firms

The RBI on Monday issued a draft circular which proposes to harmonise regulations of housing finance companies (HFCs) with that of non-banking finance companies (NBFCs) in several areas such as minimum capital requirement and deposit taking rules.

Jan 16, 2024

India's forex reserves rise to 4-month high

India's foreign exchange reserves rose to an over four-month high of $604.04 billion as of December 1, according to the latest data released by the RBI on Friday.

Dec 9, 2023

RBI retains repo rate at 6.5%

As predicted by economists, the Reserve Bank of India's Monetary Policy Committee (MPC) did not change the repo rate from 6.50 per cent.

Dec 8, 2023

Over 97% of Rs 2,000 banknotes have been returned: RBI

The total value of Rs 2,000 banknotes in circulation, has declined to Rs 9,760 crore at the close of business on November 30, 2023, the Reserve Bank of India (RBI) announced on Friday.

Dec 1, 2023

Manappuram Finance shares plunge after RBI crackdown

Manappuram Finance fell close to 3 per cent in the morning trade on Friday after the RBI imposed a Rs 42.78 lakh fine on the NBFC for breach of norms and tightened norms for consumer loans.

Nov 17, 2023

RBI slaps fines on Union Bank of India, RBL Bank for breach of rules

The Reserve Bank of India (RBI) on Friday said it has imposed monetary penalties on Union Bank of India and RBL Bank for the violation of norms.

Oct 14, 2023

RBI fines Paytm Payments Bank for breach of norms

The RBI has slapped a Rs 5.39 crore fine on Paytm Payments Bank for not complying RBI guidelines related to know your customer (KYC) norms and not reporting incidents of cyber security breaches in time.

Oct 13, 2023

RBI slaps fines on 3 banks in Gujarat for breach of rules

The Reserve Bank of India (RBI) has imposed monetary penalties on three cooperative banks in Gujarat for breach of rules after carrying out statutory inspections of their records.

Oct 4, 2023

Interest rate for 5-year recurring deposit hiked to 6.7 %, rates for other key schemes kept unchanged

The government has kept interest rates of all key small savings schemes unchanged for the October-December period, except for the five-year recurring deposit, which has been hiked from 6.5 per cent to 6.7 per cent.

Sep 30, 2023

Russia's Sberbank Establishes Major IT Unit In B'luru

Russia's Sberbank sets up major IT unit in Bengaluru; Plans to employ IT specialists

Sberbank's branch in India has received permission from the Reserve Bank of India (RBI) to establish an IT unit here.

Jul 21, 2023

Kharge hits back at Centre after RBI's paper on inflation

Congress President Mallikarjun Kharge on Saturday took a swipe at the Centre over inflation after the Reserve Bank of India (RBI) said that the public is now spending less as a result which in turn have decreased sales.

Jun 24, 2023

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