Tag: Rbi

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.

Banks shall undertake at least an annual review in respect of accounts, where there are no customer-induced transactions for more than a year.

"These instructions are expected to further strengthen the IO mechanism and in turn, the Internal Grievance Redress system in regulated entities apart from providing ease of compliance," the RBI said in a release.

Sources said that an email came at around 10:23 pm on Wednesday night in which it was claimed that Delhi, Jaipur, Lucknow, Chandigarh, Mumbai, Chennai and Ahmedabad airports would be bombed.

In the email, it was said that bombs would be planted in RBI office, HDFC bank and ICICI bank and demanded the resignation of RBI Governor Shaktikanta Das and Union Finance Minister Nirmala Sitharaman.

The RBI on Tuesday barred regulated entities (REs) such as banks and non-banking finance companies (NBFCs), from investing in any scheme of alternative investment funds (AIFs).

Recently, a message claiming that Rs 500 note with star symbol is fake was found doing the rounds on social media. However, PIBFact check found that, “The message deeming such notes as fake is false.”

Members of the public are cautioned not to fall prey to such false and misleading campaigns and report such incidents to law enforcement agencies, the central bank stated.

The RBI on Friday announced to raise the UPI payment limit to hospitals and educational institutions to Rs 5 lakh from Rs 1 lakh presently.

The Reserve Bank of India's Monetary Policy Committee (MPC) did not change the repo rate from 6.50 per cent.

Another attraction of the Bali Yatra is a counter run by the Reserve Bank of India. Customers throng the stall to exchange their torn, soiled and mutilated currency notes. They were also dismayed to see currency notes hanging from trees.