Articles about Reserve Bank Of India (RBI)

RBI keeps repo rate at 4%, cuts GDP growth projection

04 Jun 2021

RBI keeps repo rate at 4%, cuts GDP growth projection

The Reserve Bank of India (RBI) has once again kept the repo rate unchanged at 4 percent in an attempt to "support growth and keep inflation within the target" amid India's COVID-19 crisis.

RBI MPC keeps repo rate unchanged at 4%

07 Apr 2021

RBI MPC keeps repo rate unchanged at 4%

The Monetary Policy Committee (MPC) of the Reserve Bank of India today kept the repo rate unchanged at 4 percent and maintained its accommodative stance for as long as necessary to sustain growth.

Top 100 wilful defaulters owe Rs. 84,632 crore to banks

10 Feb 2021

Top 100 wilful defaulters owe Rs. 84,632 crore to banks

The amount of money that the top 100 wilful defaulters owe banks increased in FY20, as compared to a year earlier. The defaulters owe Rs. 84,632 crore to lenders, up from FY19's figure of Rs. 80,344 crore.

Sensex breaches the 51,000-mark; Nifty surges past 15,000

05 Feb 2021

Sensex breaches the 51,000-mark; Nifty surges past 15,000

Benchmark indices made history on Friday, just before Reserve Bank of India (RBI) Governor Shakitkanta Das announced the decisions of the Monetary Policy Committee (MPC).

Repo rate untouched, 10.5% GDP growth predicted in 2021-22

05 Feb 2021

Repo rate untouched, 10.5% GDP growth predicted in 2021-22

Reserve Bank of India (RBI) has decided to leave key rates unchanged, Governor Shaktikanta Das said on Friday, in his first address after the Union Budget was presented on Monday.

Government attempts to ban Bitcoin again; Considers digitizing the rupee

30 Jan 2021

Government attempts to ban Bitcoin again; Considers digitizing the rupee

After leaving Indians with no choice but to embrace digital transactions, the government is poised to ban cryptocurrencies.

PMC Bank: Money trail leading to Sanjay Raut's wife unearthed

02 Jan 2021

PMC Bank: Money trail leading to Sanjay Raut's wife unearthed

The Enforcement Directorate (ED) on Friday attached properties worth Rs. 72 crore of Pravin Raut, in connection to the PMC Bank scam. As per the agency, his wife Madhuri gave Rs. 55 lakh to Varsha Raut, the wife of Shiv Sena leader Sanjay Raut.

PMC Bank scam: Sanjay Raut's wife summoned by Enforcement Directorate

28 Dec 2020

PMC Bank scam: Sanjay Raut's wife summoned by Enforcement Directorate

In connection to the Punjab and Maharashtra Co-operative (PMC) Bank money laundering case, the Enforcement Directorate (ED) has issued summons to Varsha Raut, the wife of Shiv Sena's firebrand leader Sanjay Raut.

RBI says Indian economy recovering faster than expected

24 Dec 2020

RBI says Indian economy recovering faster than expected

The Indian economy, which was dealt a heavy blow by the coronavirus pandemic, is recovering faster than expected and could also register a minor positive growth in the third quarter of the current fiscal year, the Reserve Bank of India (RBI) said.

Harassed by loan sharks, debtors commit suicide, unearthing multi-crore scam

24 Dec 2020

Harassed by loan sharks, debtors commit suicide, unearthing multi-crore scam

The unfortunate demise of three people in Telangana, allegedly due to harassment of loan sharks, led police to unearth a multi-crore scam.

RBI predicts FY21's real GDP-growth at -7.5%; repo rate unchanged

04 Dec 2020

RBI predicts FY21's real GDP-growth at -7.5%; repo rate unchanged

On Friday, the Reserve Bank of India revised the real GDP growth projection for 2020-21 to -7.5%, after initially predicting that it would be -9.5%.

RBI Governor Shaktikanta Das happy with Indian economy's recovery

26 Nov 2020

RBI Governor Shaktikanta Das happy with Indian economy's recovery

RBI Governor Shaktikanta Das is happy with the way the Indian economy is performing. On Thursday, he said that the pick-up in recovery has been stronger than expected.

Cabinet clears crisis-hit Lakshmi Vilas Bank's merger with DBS Bank

25 Nov 2020

Cabinet clears crisis-hit Lakshmi Vilas Bank's merger with DBS Bank

The Union Cabinet on Wednesday approved the amalgamation of the crisis-hit Lakshmi Vilas Bank (LVB) with DBS Bank India Ltd (DBIL), the Indian arm of Singapore's DBS Bank.

Lakshmi Vilas Bank under moratorium; withdrawals capped at Rs. 25,000

17 Nov 2020

Lakshmi Vilas Bank under moratorium; withdrawals capped at Rs. 25,000

The Centre on Tuesday placed Tamil Nadu-based private sector lender Lakshmi Vilas Bank (LVB) under a moratorium for a period of one month, the Ministry of Finance said.

RIL to invest $50mn in Bill Gates-owned Breakthrough Energy Ventures

13 Nov 2020

RIL to invest $50mn in Bill Gates-owned Breakthrough Energy Ventures

Reliance Industries will be investing $50 million (approximately Rs. 373 crore) in Breakthrough Energy Ventures, a firm established by billionaire philanthropist Bill Gates in 2015 to battle climate change.

'Atmanirbhar' stimulus: Employment, income-tax relief for home-buyers, boost for vaccine

12 Nov 2020

'Atmanirbhar' stimulus: Employment, income-tax relief for home-buyers, boost for vaccine

Union Finance Minister Nirmala Sitharaman on Thursday announced a fresh economic stimulus to spur economic growth and boost demand.

In a first, India enters technical recession, says RBI

12 Nov 2020

In a first, India enters technical recession, says RBI

India likely entered into a technical recession for the first time in its history at the end of the first half of 2020-21, according to the Reserve Bank of India (RBI).

Four years after demonetization, cash in system at all-time high

09 Nov 2020

Four years after demonetization, cash in system at all-time high

Four years after the demonetization move was announced, not much has changed in terms of cash available in the Indian system. On the fortnight ending October 23, 2020, notes worth a staggering Rs. 26.19 lakh crore remained with the public, despite the government pushing for digital transactions.

Nirmala Sitharaman wanted me out of FinMin, says Ex-Finance Secretary

31 Oct 2020

Nirmala Sitharaman wanted me out of FinMin, says Ex-Finance Secretary

Former Finance Secretary Subhash Chandra Garg on Saturday blamed Finance Minister Nirmala Sitharaman for his sudden transfer from the Ministry.

Repo rate unchanged; RTGS payment will be available 24*7: RBI

09 Oct 2020

Repo rate unchanged; RTGS payment will be available 24*7: RBI

RBI Governor Shaktikanta Das on Friday announced Monetary Policy Committee's decisions and spoke about the revival of the coronavirus-battered Indian economy.

Credit, debit card rules changed from today: Check details here

01 Oct 2020

Credit, debit card rules changed from today: Check details here

In a bid to make online transactions more secure and promote digital payments, the Reserve Bank of India (RBI) has changed several rules pertaining to credit and debit cards, which will come into effect from today, October 1.

India's retail inflation dips marginally to 6.69% in August

14 Sep 2020

India's retail inflation dips marginally to 6.69% in August

India's retail inflation stood at 6.69% in August, according to data released by the Ministry of Statistics & Programme Implementation (MoSPI) on Monday.

2 lakh Ola, Uber drivers go on strike in Delhi-NCR

01 Sep 2020

2 lakh Ola, Uber drivers go on strike in Delhi-NCR

Nearly two lakh drivers of cab aggregator services Ola and Uber in the Delhi-NCR region have decided to go on strike starting Tuesday.

West Bengal: Total lockdown for 3 days in September

31 Aug 2020

West Bengal: Total lockdown for 3 days in September

The West Bengal government on Monday issued guidelines extending the lockdown in containment zones in the state till September 30 to stem the spread of the novel coronavirus.

Not even one Rs. 2,000 note printed in 2019-20

26 Aug 2020

Not even one Rs. 2,000 note printed in 2019-20

Four years after they were introduced, the circulation and printing of Rs. 2,000 notes have declined sharply with not even a single one being printed by Reserve Bank of India's (RBI) currency note presses in the 2019-20 fiscal year, the annual report of the top bank said this week.

As economy suffers, RBI keeps repo rate unchanged

06 Aug 2020

As economy suffers, RBI keeps repo rate unchanged

On Thursday, RBI Governor Shaktikanta Das announced that repo rate and reverse repo rate will not change, a move which would keep retail prices contained.

WhatsApp finally meets requirements to roll out payments in India

04 Aug 2020

WhatsApp finally meets requirements to roll out payments in India

WhatsApp may finally get the go-ahead to launch payments in India.

Prices of potatoes and tomatoes surge, courtesy poor crop, lockdown

20 Jul 2020

Prices of potatoes and tomatoes surge, courtesy poor crop, lockdown

While last year, prices of onions induced tears among Indian households, this year potatoes and tomatoes are responsible for the same.

WhatsApp launches payments in Brazil, ahead of India

15 Jun 2020

WhatsApp launches payments in Brazil, ahead of India

WhatsApp has launched its peer-to-peer payments service for users across Brazil.

Courtesy coronavirus, hotel industry stares at oblivion; recovery unlikely soon

03 Jun 2020

Courtesy coronavirus, hotel industry stares at oblivion; recovery unlikely soon

In the months to come, nations are bound to ease restrictions. Some, like India, have already started. But it will be long before the hotel industry bounces back to the pre-coronavirus days.

Amid coronavirus crisis, RBI extends loan moratorium till August

22 May 2020

Amid coronavirus crisis, RBI extends loan moratorium till August

Addressing the media on Friday, RBI Governor Shaktikanta Das said the central bank has brought down the repo rate by 40 basis points.

WhatsApp Pay may finally be launched this month: Details here

05 May 2020

WhatsApp Pay may finally be launched this month: Details here

WhatsApp's much-coveted digital payments service, WhatsApp Pay, may finally be launched by the end of this month.

#LockdownRelaxation: Industries which will be operational from April 20

20 Apr 2020

#LockdownRelaxation: Industries which will be operational from April 20

India entered the second phase of the coronavirus-enforced lockdown on April 15, after Prime Minister Narendra Modi announced the extension of the nationwide lockdown till May 3 to contain the spread of the deadly COVID-19.

More services to be allowed after April 20: Details here

17 Apr 2020

More services to be allowed after April 20: Details here

The Centre has revised the list of what will be allowed after April 20 in areas where the impact of coronavirus is the least. Non-banking finance corporations and micro-finance institutions will be allowed to resume.

Coronavirus: Stimulus 2.0 in mind, Modi and Sitharaman hold talks

17 Apr 2020

Coronavirus: Stimulus 2.0 in mind, Modi and Sitharaman hold talks

With economic activity coming to a standstill for almost a month due to the coronavirus pandemic, Finance Minister Nirmala Sitharaman on Thursday met Prime Minister Narendra Modi to discuss a package that could keep the wheels churning.

RBI's 3-month EMI moratorium: All you need to know

27 Mar 2020

RBI's 3-month EMI moratorium: All you need to know

Earlier in the day, the Reserve Bank of India (RBI) announced a few measures in view of the 21-day lockdown over coronavirus.

Coronavirus: Day after Centre's economic package, RBI cuts repo rate

27 Mar 2020

Coronavirus: Day after Centre's economic package, RBI cuts repo rate

RBI has cut repo rate by 75 basis points, bringing it down from 5.15% to 4.4%, Governor Shaktikanta Das told media at a briefing on Friday. The reverse repo rate was reduced by 90 basis points to 4%.

Yes Bank resumes full banking services as RBI lifts moratorium

18 Mar 2020

Yes Bank resumes full banking services as RBI lifts moratorium

The ailing private lender Yes Bank on Wednesday confirmed that its banking services are now fully operational.

India not immune to economic impact of COVID-19: RBI Governor

16 Mar 2020

India not immune to economic impact of COVID-19: RBI Governor

Reserve Bank of India (RBI) Governor Shaktikanta Das addressed a press conference at the central bank's headquarters in Mumbai on Monday.

RBI's new rules for debit, credit cards take effect today

16 Mar 2020

RBI's new rules for debit, credit cards take effect today

Starting today, a set of new rules will apply to debit and credit cards to increase security and reduce the risks of cyber fraud.