Reserve Bank Of India (RBI): News
PMC Bank crisis: RBI hikes withdrawal limit to Rs. 40,000
In a major relief for customers of the crisis-hit Punjab and Maharashtra Co-operative (PMC) Bank, the Reserve Bank of India (RBI) raised the withdrawal limit for account holders to Rs. 40,000, on Monday. Earlier, this limit was Rs. 25,000.
#EconomicSlowdown: World Bank cuts India's growth rate projection to 6%
The country's "well-learned" union ministers may want you to believe that there is no economic slowdown whatsoever, but data points otherwise.
Selling jewelry to survive after PMC Bank's collapse: TV actress
Evidently, the ongoing Punjab & Maharashtra Co-operative Bank crisis has affected the lives of its customers/account-holders.
RBI cuts repo rate, slashes GDP growth estimates
On Friday, the six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) cut the repo rate by 25 basis points to 5.15% in its "accommodative" stance to revive growth.
PMC Bank crisis: Two HDIL Directors arrested
Amid the Punjab Maharashtra Co-operative (PMC) Bank crisis, the Economic Offense Wing of the Mumbai Police arrested two directors of the real estate firm Housing Development and Infrastructure Limited, or HDIL, on Thursday.
Facebook Libra launch could get delayed due to regulatory concerns
The launch of Facebook's cryptocurrency Libra could get delayed beyond the scheduled target of June 2020 owing to regulatory concerns that have been raised around the world.
Amid economic slowdown, Anurag Thakur faces embarrassment at auto event
On Friday, Minister of State for Finance Anurag Thakur addressed the slowdown in the auto industry at the Automotive Component Manufacturers Association of India (ACMA) annual summit in New Delhi.
Soon, RBI to introduce varnished Rs. 100 currency notes
In its annual report for FY 2018-19 released today, the Reserve Bank of India (RBI) announced that it is planning to introduce varnished currency notes of Rs. 100 denomination, on a field-trial basis.
#NewsBytesExplainer: Why is RBI giving Rs. 1.76L crore to government
Amid an economic slowdown in the country, Reserve Bank of India (RBI) stepped in to bail out Prime Minister Narendra Modi's government.
Now, you may need recipients' permission to do bank transfer
In a unique development, banks may be required to seek permission from account holders before money is transferred into their accounts, reports said.
How 'Sahamati' will make bank A/C opening, loans completely digital
After Aadhaar, Nandan Nilekani is ushering the next phase of digital India.
Soon, you will be able to send money on WhatsApp
Since last year, WhatsApp, one of the world's biggest messaging apps, has been testing a payments service in India.
Five common myths around No-Cost EMIs, busted!
Many e-commerce websites and offline stores often offer "No-Cost EMIs" on various products like smartphones, laptops, home appliances, etc.
Five famous and successful alumni of IIM-Ahmedabad to know about
The Indian Institutes of Management (IIMs) are the most sought-after business schools in the country that provide quality management education.
Facebook's Libra cryptocurrency won't launch in India: Details here
In a matter of months, Facebook plans to launch a cryptocurrency, dubbed Libra, to streamline digital payments between individuals as well as businesses.
PNB reports Rs. 3,800cr fraud by Bhushan Power & Steel
Punjab National Bank (PNB) on Saturday said that it has detected a fraud of Rs. 3,800 crore in the non-performing asset (NPA) account of Bhushan Power & Steel Limited (BPSL).
Five famous alumni of IIT Kanpur you should know about
The Indian Institutes of Technology (IITs) are the country's premier engineering institutes that are recognized as centers of academic excellence in science and technology.
Five famous alumni of IIT Delhi you should know about
The Indian Institutes of Technology (IITs) are the country's premier engineering institutes that are recognized as centers of academic excellence in science and technology.
RBI's Deputy Governor Viral Acharya quits before term ends: Report
Viral Acharya, the Deputy Governor of Reserve Bank of India (RBI), has tendered his resignation, Business Standard reported on Monday.
Tezpur University researchers have a solution for fake currency: nano-ink!
Counterfeiting or fake currency is a problem that authorities across the globe have struggled to constrain. Miscreants are often drawn to counterfeiting as it's a real money-making (illicit) business, and it's hard to trace once the currency is in circulation.
No charges on RTGS, NEFT transfers from July 1: RBI
The Reserve Bank of India (RBI) has decided to waive off all charges on RTGS and NEFT system fund transfers from July 1, 2019.
Soon, buying Bitcoin, other cryptocurrencies could land you in jail
India's stance towards cryptocurrencies like Bitcoin and Ethereum could soon get a whole lot stringent.
#FinancialBytes: What is the difference between RTGS and NEFT transfers?
In a bid to boost digital transactions, the Reserve Bank of India on Thursday decided to waive off charges on RTGS and NEFT System fund transfers.
Now transfer money for free: RBI removes NEFT, RTGS charges
In a move to boost digital transactions, the Reserve Bank of India (RBI) on Thursday removed NEFT and RTGS charges from transactions.
Now, banks can use Aadhaar for KYC verification: Details here
Banks are now allowed to use Aadhaar as proof for Know Your Customer (KYC) verification, upon getting consent from the customer, according to the Reserve Bank of India (RBI).
#FinancialBytes: Lost credit card? Here's what you should do next
Credit cards are one of the widely-used cashless payment methods because of the convenience they offer.
#FinancialBytes: About SBI's interest rate-repo rate linkage and its impact
State Bank of India (SBI) is the largest public sector bank in the country with more than 42 crore customers.
#FinancialBytes: Here's what changes for SBI customers from 1 May
The state-owned State Bank of India (SBI) is the largest public sector bank in the country with more than 42 crore customers.
RBI set to issue new 'greenish yellow' Rs. 20 notes
The Reserve Bank of India has announced that it would issue new Rs. 20 notes shortly. The notes in the Mahatma Gandhi (New) series will be greenish yellow in color and will bear the signature of Governor Shaktikanta Das.
Soon, Flipkart will offer loans with instant video verification
Flipkart is working on a new video-based verification method to extend instant loans to customers and expand its footprint in the Indian market.
#FinancialBytes: 6 facts you never knew about your credit score
In financial terms, Credit score is a three-digit number that can help determine your chances to get a loan. Banks and other financial institutions often use it to decide whether you should be issued a credit card/loan or not.
Online movie ticket-booking platforms cannot charge 'Internet Handling Fees': RBI
Booking movie tickets has never been easier thanks to online movie ticket booking platforms. Everyone who has ever booked movie tickets online knows about "Internet Handling Fees" levied by every online ticketing platform.
Inflation based on wholesale prices rises to 2.93% in February
Inflation based on wholesale prices rose to 2.93% in February over the previous month, due to hardening of prices of primary articles, fuel and power, according to government data released today.
#FinancialBytes: 5 common myths around No-Cost EMIs, busted!
Many e-commerce websites and offline stores often offer "No-Cost EMIs" on various products like smartphones, laptops, home appliances, etc.
Fraudsters can use this app to steal your money: RBI
Amid increasing cases of online fraud, the Reserve Bank of India (RBI) has issued an advisory warning about an app that can wipe your accounts clean.
RBI proposes new pay-norms for top-officials of private, foreign banks
The RBI yesterday proposed that at least 50% of compensation of senior officials of private and foreign banks, including whole time directors and chief executive officers, "should be variable".
RBI cuts repo rate by 25bps; loans/EMIs to get cheaper
Taking a major policy U-turn, the RBI's six-member Monetary Policy Committee (MPC) headed by newly-appointed Governor Shaktikanta Das lowered the repo rate by 25 basis points to 6.25%.
How to use ATMs with security features for chip-based cards
On January 1, the Reserve Bank of India enforced its decision to make microchip-based debit/credit cards mandatory in India.
May need more currency as GDP size increasing: RBI official
With the country's Gross Domestic Product (GDP) size increasing in quantitative terms, there could be a need for more currency in the economy, a Reserve Bank of India official said today.
Lenders may bring out resolution plan for Jet Airways: SBI
State Bank of India (SBI) today said lenders are considering a resolution plan for Jet Airways to ensure the long-term viability of the debt-laden company.