Tag: Rbi

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) on Wednesday hiked the repo rate by 25 basis points to 6.50 per cent.

These are part of the Rs 16,000 crore sovereign green bond auction that the RBI will conduct in the current fiscal.

In addition to this, banks have been advised to make necessary arrangements to facilitate execution of the revised agreements by ensuring the availability of stamp papers, etc, a statement by RBI said.

Addressing a media event here, Das called for a ban on cryptos, saying there is no underlying value in it. Those supporting it call it an asset or a financial product, but there is no underlying value in it, he added.

According to RBI sources, so far the Reserve Bank has issued Rs10, Rs 20, Rs 1, Rs 2 and Rs 5 coin in different designs. All these coins are legal tender and can be accepted for transactions.

The Governor in his address, noted that the region's dependence on fossil fuel imports made it vulnerable to imported inflation.

Addressing a group of banking sector leaders and lawmakers, Das emphasised that cryptocurrencies have no "underlying value" and pose great risks for global macroeconomic and financial stability.

The RBI Governor Shaktikanta Das, heading the MPC, announced the rate hike and added that the battle against inflation was not over.

The proceedings of the said MPC meeting have not been made public even though the law provides to the contrary.

RBI to launch retail digital rupee e ₹-R. Digital rupee launch on Dec 1 on pilot basis. 8 banks identified for participation in trial.

The retail inflation, which the RBI factors in while deciding its periodic monetary policy, was 4.48 per cent in October 2021.

The Reserve Bank of India (RBI) on Monday announced operationalisation of Digital Currency- Wholesale (e₹-W) Pilot. As per official sources, the Central Bank will commence pilot launches of Digital Rupee (e₹) for the wholesale segment (e₹-W) on November 1, 2022.

In a statement, the RBI said the use case for this pilot is settlement of secondary market transactions in government securities.

The Reserve Bank of India (RBI) and the Centre had already put a lid on the issue way back in 2010.

The Reserve Bank of India (RBI) is looking at a phased implementation strategy to unveil the central bank digital currency (CBDC).