Reserve Bank Of India (RBI): News
02 Nov 2023
ICICI BankEMIs to rise as ICICI, BOI hike lending rates
ICICI Bank, a private sector lender, and Bank of India (BOI), a public lender, have raised their marginal cost-based lending rates (MCLR).
01 Nov 2023
Shaktikanta DasOver 97% of Rs. 2,000 banknotes returned to banks: RBI
On November 1, the Reserve Bank of India (RBI) revealed that over 97% of Rs. 2,000 banknotes in circulation have been returned to the banking system.
31 Oct 2023
Supreme Court Of IndiaSupreme Court begins hearing pleas against electoral bonds scheme
The Supreme Court on Tuesday began hearing a batch of petitions challenging the legality of the electoral bonds scheme.
30 Oct 2023
FinanceRBI's wholesale CBDC pilot losing traction due to low interest
Reserve Bank of India (RBI)'s pilot program for Central Bank Digital Currency (CBDC) in the wholesale sector has experienced a decline in recent months.
24 Oct 2023
Indian GovernmentWhy Centre is keeping PPF interest rate lower than formula
Despite the fluctuating market interest rates, the Indian government has deliberately kept the Public Provident Fund (PPF) interest rate steady at 7.1% due to the tax advantages it provides, reported Moneycontrol, citing a senior government official.
23 Oct 2023
Monetary Policy CommitteeRBI may lower rates in future despite 4% inflation target
The Monetary Policy Committee (MPC) has reaffirmed its commitment to a 4% retail inflation target, as inflation has returned to the 2%-6% comfort range.
20 Oct 2023
BusinessRBI approves Kotak Mahindra Bank's acquisition of Sonata Finance
The Reserve Bank of India (RBI) has finally given the green light to Kotak Mahindra Bank's acquisition of Sonata Finance Pvt Ltd and its transformation into a business correspondent subsidiary, the private lender said in an exchange filing on October 20.
20 Oct 2023
Shaktikanta DasInterest rate will remain high for now: RBI Governor
At the Kautilya Economic Conclave 2023, Reserve Bank of India (RBI) Governor Shaktikanta Das announced that interest rates will stay high for now, without giving a specific timeline for a decrease.
20 Oct 2023
Shaktikanta DasMaintaining disinflationary monetary policy a must: RBI Governor
At the recent Kautilya Economic Conclave 2023, Reserve Bank of India (RBI) Governor Shaktikanta Das emphasized that the monetary policy must remain actively disinflationary to ensure that the decline in inflation from its peak of 7.44% in July continues smoothly.
18 Oct 2023
Bank of BarodaBank of Baroda suspends 60 employees over digital app controversy
Bank of Baroda (BOB), a public-sector lender, has suspended more than 60 employees, including 11 assistant general managers (AGMs), after an audit of the BOB World app case.
12 Oct 2023
PaytmRBI slaps Rs. 5.39cr penalty on Paytm Payments Bank
The Reserve Bank of India (RBI) slapped a hefty penalty of Rs. 5.39 crore on Paytm Payments Bank for not adhering to Know Your Customer (KYC) regulations.
12 Oct 2023
IndiaRBI launches wholesale CBDC pilot in call money market
The Reserve Bank of India (RBI) has begun testing its central bank digital currency (CBDC) in the call money market, according to Moneycontrol.
11 Oct 2023
Central Bureau Of Investigation (CBI)CBI files FCRA violation case against NewsClick, launches fresh raids
The Central Bureau of Investigation (CBI) on Wednesday filed a case against online news portal NewsClick over alleged violations of the Foreign Contribution Regulation Act (FCRA), the Hindustan Times reported.
10 Oct 2023
Bank of BarodaRBI restricts Bank of Baroda from adding customers via app
The Reserve Bank of India (RBI) has ordered Bank of Baroda to halt the addition of new customers through its digital banking app, BoB World.
09 Oct 2023
IndiaFintech industry to gain self-regulatory organization in 3-6 months
The fintech and digital lending companies are gearing up to create a self-regulatory organization (SRO) within the next 3-6 months, as per insiders involved in discussions with the Reserve Bank of India.
06 Oct 2023
IndiaRBI proposes card-on-file tokenization for enhanced security: What it means
The Reserve Bank of India (RBI) is looking to implement card-on-file tokenization (CoFT) at the issuer-bank level, aiming to boost security and convenience for customers.
06 Oct 2023
Supreme Court Of IndiaSC demands response from MP, Rajasthan over 'freebies' before elections
The Supreme Court (SC) reportedly issued notice to the Rajasthan and Madhya Pradesh governments on Friday regarding a plea seeking comprehensive guidelines to ban political parties from distributing money and other freebies at taxpayers' expense.
06 Oct 2023
Shaktikanta DasRs. 12,000cr worth of Rs. 2,000 notes still in circulation
Reserve Bank of India (RBI) Governor Shaktikanta Das announced on October 6 that Rs. 12,000 crore worth of Rs. 2,000 denomination notes have not yet returned to the central bank.
06 Oct 2023
Shaktikanta DasRBI maintains repo rate at 6.5%, FY24 GDP forecast unchanged
The Reserve Bank of India (RBI) Governor Shaktikanta Das announced on Friday that the central bank's Monetary Policy Committee (MPC) has decided unanimously to keep the key repo rate steady at 6.5%, in line with economists' predictions.
05 Oct 2023
IndiaRBI expands UDGAM portal to include 23 more banks
The Reserve Bank of India (RBI) has expanded its Unclaimed Deposits - Gateway to Access Information (UDGAM) portal by adding 23 more banks.
30 Sep 2023
MumbaiRBI extends deadline to exchange Rs. 2,000 notes
The Reserve Bank of India (RBI) announced on Saturday that the date for depositing and exchanging Rs. 2,000 banknotes has been extended until October 7, 2023, from the September 30 deadline.
29 Sep 2023
BusinessDeadline for exchanging Rs. 2,000 notes may extend to October-end
The Reserve Bank of India (RBI) is considering extending the deadline for depositing and exchanging Rs. 2,000 banknotes until the end of October, per Moneycontrol.
29 Sep 2023
BusinessConsequences of holding Rs. 2,000 notes post September 30 deadline
The Reserve Bank of India (RBI) has set a deadline of September 30, 2023, for depositing or exchanging Rs. 2,000 denomination banknotes at banks across the nation.
28 Sep 2023
IndiaIndia's current account deficit increases 7 times quarter-to-quarter: Here's why
India's current account deficit (CAD) has seen a whopping increase, hitting $9.2 billion in the first quarter of 2023-24.
26 Sep 2023
BusinessExchange your Rs. 2,000 notes before September 30 deadline
The Reserve Bank of India (RBI) had announced the discontinuation of Rs. 2,000 notes in circulation on May 19, 2023.
24 Sep 2023
BusinessRBI might keep interest rates unchanged in October: Here's why
The Reserve Bank of India (RBI) is likely to maintain the status quo on policy rates for the fourth consecutive time at its bi-monthly monetary policy review meeting which is scheduled for October 4-6, 2023.
20 Sep 2023
Ministry of FinanceGovernment's borrowing plan for H2 FY24 to remain unchanged
The Ministry of Finance is unlikely to alter the government's borrowing plan for the second half of FY24, maintaining the scheduled Rs. 6.55 lakh crore announced in late March.
19 Sep 2023
Solar EnergyRBI considers priority sector lending for domestic solar panel manufacturing
The Reserve Bank of India (RBI) is contemplating the inclusion of solar panel manufacturing in the priority sector lending bracket, as per The Economic Times.
18 Sep 2023
IndiaCIC growth down 4.2% because of Rs. 2,000 note withdrawal
The Reserve Bank of India (RBI) has revealed in its monthly bulletin that the rise in currency in circulation (CIC) has dropped to 4% from 8.2%.
08 Sep 2023
IndiaRBI announces phased discontinuation of incremental cash reserve ratio
The Reserve Bank of India (RBI) has announced plans to phase out the incremental cash reserve ratio (I-CRR) in a bid to maintain financial and price stability.
06 Sep 2023
Narendra ModiCentre asked RBI Rs. 3L crore before 2019 polls: Report
Former Reserve Bank of India (RBI) Deputy Governor Viral Acharya revealed that the central government, led by Prime Minister Narendra Modi, sought Rs. 2-3 lakh crore for pre-election expenditure for the 2019 Lok Sabha elections, Mint reported.
05 Sep 2023
Unified Payments Interface (UPI)India's UPI may soon launch in South American, African countries
India is negotiating with several South American and African countries to implement its Unified Payments Interface (UPI) and RuPay cards as payment platforms in these regions, a senior government official told Mint.
04 Sep 2023
State Bank of India (SBI)SBI integrates UPI interoperability in eRupee CBDC app
The State Bank of India (SBI) has implemented unified payments interface (UPI) interoperability in its central bank digital currency (CBDC) mobile application called "eRupee by SBI."
01 Sep 2023
IndiaRs. 2,000 note exchange, free Aadhaar update: Know key deadlines
The personal finance landscape in India is set to undergo a series of changes this month.
31 Aug 2023
Indian EconomyIndian economy to see its fastest growth in a year
India's economy surged from 6.1% in the January-March quarter to 7.7% in the April-June quarter, the fastest since April-June 2022, according to the median projection in a Reuters poll of economists.
23 Aug 2023
BusinessBanks to remain closed for 16 days in September 2023
In September 2023, banks in India will be closed for 16 days. This includes the second and fourth Saturdays and Sundays.
21 Aug 2023
IndiaRBI pushes for local currency in India-UAE trade
The Reserve Bank of India is encouraging local banks to settle trade transactions between the UAE and India using the Dirham (AED) or Indian Rupee (INR).
18 Aug 2023
BusinessRBI's UDGAM portal helps you find and claim unclaimed deposits
The Reserve Bank of India (RBI) has launched UDGAM, a centralized web portal designed to help the public with unclaimed deposits across multiple banks.
14 Aug 2023
InflationAt 7.44%, India's retail inflation reaches 15-month high
In July, India's retail inflation rate skyrocketed to a 15-month record of 7.44% YoY. It is a significant increase from June's 4.87%.
14 Aug 2023
Independence DayIndia printed currency for Pakistan for one year after independence
After gaining independence from British colonial rule in 1947, India and Pakistan encountered several immediate challenges in their paths to nationhood.
