Tag: Rbi

In the previous three years, the INR exhibited the lowest volatility in 2023-24. The relative stability of the INR reflects India’s sound macroeconomic fundamentals, financial stability and improvements in the external position, he added.

Prime Minister Narendra Modi recently issued a special coin to commemorate the 90th year of the Reserve Bank of India. The special ₹90 denomination coin was unveiled to celebrate 90 years of the central bank.

The Finance Ministry on Monday announced the sale of Rs 38,000 crore worth of government bonds through the Reserve Bank of India's new multiple price auction method.

Speaking at the 90th anniversary celebrations of the Reserve Bank of India (RBI), the PM said that the country’s economy has risen in the last few years from the inherited mess of 2014 when the BJP government took office, and is now poised for take-off.

However, the facility will become operational again on April 2, the RBI said.

The omnibus SRO framework prescribes the broad objectives, functions, eligibility criteria and governance standards, which will be common for all SROs, irrespective of the sector.

"The Government of India has made a request to keep all branches of the banks dealing with Government receipts and payments open for transactions on March 31, 2024 (Sunday)," the apex bank said in a release.

Card issuers are prohibited from issuing unsolicited credit cards and are required to seek prior and explicit consent from the customer before issuing a card.

All unclaimed deposits/accounts that are part of Depositor Education and Awareness (DEA) Fund of RBI can be searched in UDGAM portal.

The directions state that NBBL is the entity authorised as the Payment System Provider for Bharat Bill Payment System (BBPS).

The rate of interest equalisation shall be 2 pert cent for manufacturers and merchant exporters exporting under specified 410 HS lines and 3 per cent for MSME manufacturers exporting under any HS line.

“The Indian economy continues to sustain the momentum achieved in the first half of 2023-24, going by high frequency indicators,” the bulletin states.

RBI cracks down on Paytm, stopping deposits and FASTag top-ups after February 29. NHAI removes Paytm as a FASTag provider. Users must deactivate Paytm FASTag.

Five out of six members of the Monetary Policy Committee voted in favour of the rate decision.

The Reserve Bank's action against Paytm Payments Bank Ltd (PPBL) follows a comprehensive system audit report and subsequent compliance validation report of the external auditors.