Tag: Rbi

After the three-day meeting of the Monetary Policy Committee (MPC) early this month, RBI decided to keep its key lending rates steady at record low levels for the 10th straight time to support a durable recovery of the economy from the pandemic.

Replying to questions after addressing the RBI's Central Board of Directors here on Monday, Sitharaman said the central bank and the government are on board regarding digital currencies.

MPC has been given the mandate to maintain annual inflation at 4 per cent until March 31, 2026, with an upper tolerance of 6 per cent and a lower tolerance of 2 per cent.

The cyber fraudsters are using innovative techniques via social media, mobile phone calls and SMS to cheat people.

The Reserve Bank of India (RBI) has already been deliberating upon various aspects relating to the central bank digital currency and private crypto currencies.

Fiscal data on a tracking basis has surprised positively, even as spending is tracking above budgeted levels due to the better-than- expected trend in tax collections.

The RBI pointed out that aggregate demand conditions have stayed resilient. "The issuance of E-way bills - an indicator of freight movement - surged to 7.2 crore in December, the second highest in its history.

Retail inflation during December 2021 hardened for the third successive month to 5.6 per cent but was lower than the consensus expectation.

The new status will allow Airtel Payments bank to pitch for government-issued ‘Requests for Proposals' (RFPs) and primary auctions and undertake both Central and state government business besides participating in government-operated welfare schemes.

IMPS, offered by National Payments Corporation of India, empowers customers to transfer money instantly through banks and RBI authorised Prepaid Payment Instrument Issuers (PPI) across India.

Such transactions would not require an Additional Factor of Authentication (AFA). Since the “transactions are offline, alerts (by way of SMS and / or e-mail) will be received by the customer after a time lag,” the RBI notice read.

Private transfer receipts, which mainly represent remittances by Indians employed overseas, increased 3.7 per cent over the year-ago period to USD 21.1 billion.

In May, the RBI had advised the regulated entities not to impose punitive restriction on operations of accounts of customers for their failure to comply with the KYC updation norms till December-end.

The Reserve Bank of India has also appointed its Chief General Manager Yogesh K Dayal as an additional director on the board of RBL Bank.

Earlier, the Bank of India, as the leader of a consortium, had taken over possession of the diamantaire's property for failure to repay loans worth Rs 468 crore in 2018, said Nagarajan, on the issue that was first highlighted by IANS (December 20-21).