Tag: Rbi

Currency exchange mela in Bhubaneswar
Banknote exchange mela organised after high drama in front of RBI in Bhubaneswar

Apart from this, the RBI has also constituted squads who undertake surprise visits to banks and check whether they are accepting torn and soiled notes and getting them exchanged.

  • Friday, 13 October 2023
Customers throw banknotes in air at RBI office in Bhubaneswar
Irate customers throw torn banknotes in air at RBI office in Bhubaneswar

The customers had brought those currency notes to exchange them in the RBI office. However, they threw those notes out of frustration after the authorities of the bank refused to exchange those notes.

  • Wednesday, 11 October 2023
RBI Governor Shaktikanta Das
RBI retains repo rate; GDP growth at 6.5%, inflation at 5.4%

RBI Governor Shaktikanta Das said on Friday that the committee unanimously decided to keep the repo rate at 6.5 per cent.

  • Friday, 06 October 2023
RBI Extends Deadline To Exchange Rs 2000 Currency Notes, New Order Says Bank Deposit Last Date Oct 7
RBI Extends Deadline To Exchange Rs 2000 Currency Notes, New Order Says Bank Deposit Last Date Oct 7

In a major respite for the people, the Reserve Bank of India (RBI) on Saturday extended the deadline for deposit and exchange of Rs 2,000 banknotes. Earlier the banks were advised to provide deposit and / or exchange facility for Rs 2000 banknotes until September 30, 2023 and the deadline ended today.

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  • Saturday, 30 September 2023
Reserve Bank of India
RBI proposes 6-month deadline for banks to identify wilful defaulters

The RBI identifies 'wilful defaulters' as those who have the ability to pay a bank's dues but do not or divert bank funds. The RBI did not earlier have a specific timeline within which such borrowers had to be identified.

  • Thursday, 21 September 2023
UPI Lite X
How to use UPI Lite X for offline payments in India, know here

India leads in UPI usage. RBI's UPI Lite X enhances offline payments, allowing transactions in remote areas. NFC-based, Rs 4,000 daily limit.

  • Monday, 11 September 2023
RBI to highlight digital payments infrastructure at G20 summit
RBI to highlight digital payments infrastructure at G20 summit

According to RBI sources, the RBI exhibition pavilion at the G20 summit will put up five major items for display, including the Public Tech Platform (PTP) for frictionless credit.

  • Tuesday, 05 September 2023
Monetary policy has to be forward looking, says RBI Governor
Monetary policy has to be forward looking, says RBI Governor

Das, who gave the analogy of car driving while delivering the Delhi School of Economics Diamond Jubilee Distinguished lecture, said that the conduct of monetary policy is like driving a car on the road with potential ditches and speed bumps.

  • Tuesday, 05 September 2023
Financial Stability and Development Council resolves to remain vigilant against fiscal vulnerabiliti
Financial Stability and Development Council resolves to remain vigilant against fiscal vulnerabilities

It resolved to remain vigilant against any build-up in vulnerabilities in all segments of the Indian financial system as well as in the broader economy.

  • Monday, 28 August 2023
reserve bank
RBI bars banks from levying penal interest, allows them to impose "reasonable" penal charges

The banks and other lending institutions will not be allowed to levy penal interest with effect from January 1, 2024, the RBI said in its notification on 'Fair Lending Practice-Penal Charges in Loan Accounts'.

  • Friday, 18 August 2023
RBI launches website to help locate unclaimed deposits across multiple banks
RBI launches website to help locate unclaimed deposits across multiple banks

The launch of the web portal will aid users to identify their unclaimed deposits and accounts and enable them to either claim the deposit amount or make their deposit accounts operative at their respective banks, a statement issued by RBI said. 

  • Thursday, 17 August 2023
RBI
RBI may continue with the incremental CRR provision

“As we now expect inflation to track at 6 per cent in QE December23, we delay the start of the easing cycle to 2Q24 from 1Q24. We maintain our expectation of two rate cuts of 25bps each.

  • Wednesday, 16 August 2023
RBI’s user friend technology focus on UPI in move towards cashless economy
RBI’s user friend technology focus on UPI in move towards cashless economy

Amid announcement of the decisions of the three day meeting of Monetary Policy Committee (MPC), Das said to harness new technologies and enhance the digital payments experience it is proposed to enable "Conversational Payments" on UPI

  • Thursday, 10 August 2023
RBI maintains pause for 3rd time in a row; keeps repo rate unchanged at 6.5 pc
RBI maintains pause for 3rd time in a row; keeps repo rate unchanged at 6.5 pc

Announcing the decision of the MPC after its three-day deliberations, RBI Governor Shaktikanta Das said on Thursday that the committee unanimously decided to keep the repo rate at 6.5 per cent.

  • Thursday, 10 August 2023
With a hawkish undertone, RBI-MPC may continue to retain the repo rate: Experts
With a hawkish undertone, RBI-MPC may continue to retain the repo rate: Experts

They also said there are factors other than monsoon that influence inflationary trends and the increase in input prices for the manufacturing sector is a cause of concern.

  • Saturday, 05 August 2023
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