The estimates of CRISIL Ratings are predicated on a base-case scenario of 9.5 per cent GDP growth this fiscal and continued improvement in corporate credit quality.
RBI Governor said that the pilot of this innovative technology facilitating digital payments in offline mode has been successful and the learnings indicate that there is a scope to introduce such solutions, especially in remote areas.
The current IMPS limit is Rs 2 lakh meaning a bank consumer can transfer this amount for making any immediate money transfer on a day.
RBI had last revised its policy repo rate or the short-term lending rate on May 22, 2020, in an off-policy cycle to perk up demand by cutting interest rate to a historic low.
As Executive Director, Kumar will look after the Department of Currency Management, Foreign Exchange Department and Premises Department.
IBA, entrusted with the task of setting up a bad bank, has put a preliminary board for NARCL in place. The company has hired P M Nair, a stressed assets expert from State Bank of India (SBI), as the managing director.
Under the G-sec Acquisition Programme (G-SAP 2.0), the Reserve Bank will conduct open market purchase of government securities of Rs 25,000 crore on August 26
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
RBI Governor Shaktikanta Das pointed out that economy is recovering from set back from the Covid's second wave. He said that accelerated vaccination drive along with, buoyant exports and monetary as well as fiscal support has aided recovery.
Amid the cases of rampant sale and purchase of old coins and currency notes, RBI has come up with an advisory for citizens.
Direct access for non-banks to CPS lowers the overall risk in the payments ecosystem
"Even with a 9.5 per cent GDP growth in 2021-22, there will be substantial slack in the economy and demand pressures may take some more time to become evident," said te RBI Bulletin for July 2021.
To measure the extent of financial inclusion in the country, it has been decided to construct and periodically publish a financial inclusion index (FII).
The Reserve Bank of India has limited the maximum continued term of managing directors and whole time directors (WTD) of urban cooperative banks (UCBs) to 15 years in a series of steps taken to ensure professional management of these institutions that have often been found undertaking non-transparent activities right at the top.
Paving the way for takeover of crisis-ridden Punjab and Maharashtra Cooperative Bank (PMC), the Reserve Bank of India on Friday granted in-principle approval to the Centrum Financial Services to set up a small finance bank.
A committee constituted by the Reserve Bank of India (RBI) for reviewing ATM fees gamut, has recommended increasing certain charges related to cash withdrawal from ATM machines.
The RBI said the charges have been allowed to be increased given the increasing cost of ATM deployment and expenses towards ATM maintenance incurred by banks/white label ATM operators
As India's forex reserves cross the $600 billion-mark, there are indications that the ample liquidity, both globally and in the domestic space will continue to drive the Indian stock markets.
In a bid to support the revival of sectors hit most by the COVID-19 pandemic, the Reserve Bank of India (RBI) on Friday decided to open a separate liquidity window of Rs 15,000 crore for certain contact-intensive sectors like hotels and restaurants, tourism and aviation ancillary services.
The Reserve Bank of India (RBI) has lowered its growth projection for the current financial year to 9.5 per cent from the previous estimate of 10.5 per cent.
The Reserve Bank of India (RBI) will transfer Rs 99,122 crore as surplus to the Centre for nine months ended March 31, 2021.
If you planning an online money transfer using the banking system between Saturday midnight and Sunday, you are well advised to either cancel or postpone such transfers.
Mumbai: RBI on Wednesday allowed certain individual and small borrowers more time to repay debt and allowed banks to give priority loans to vaccine makers, hospitals and COVID-related health infrastructure…
Mumbai: The Reserve Bank of India did not stop at providing liquidity enhancement measures to tackle the current economic strain unleashed by the resurgence of a Covid-19 wave. It also…
Mumbai: As the county’s healthcare system reels under the severe Covid crisis, the Reserve Bank of India (RBI) on Wednesday announced a liquidity window of Rs 50,000 crore wherein vaccine…