The Latest Breaking News from RBI

Cash no king, but don't stash it: India wants a digital economy, but cash still holds the power of choice

Despite government promotion of digital transactions like UPI and e-Rupee, cash remains prevalent, especially in rural areas and for large-value transactions. While digital payments offer convenience, they have also led to increased cyber fraud and financial exclusion, particularly for women. The article suggests the government's push for digitalization may stem…

The Economic Times · Sep 2

Need stronger governance, internal controls in urban cooperative banks: RBI Deputy Guv

In a recent address, RBI Deputy Governor Swaminathan J urged urban cooperative banks to strengthen their governance frameworks and adopt technological advancements. He pointed out the critical need for better collaboration between the RBI and cooperative authorities. Deputy Governor Shirish Chandra Murmu reinforced the importance of having professional boards and…

The Economic Times · Sep 2

Rising global bond yields, FCNR-B inflows and SEBI's CAS to shape market dynamics: HDFC Securities CEO Dhiraj Relli

India is grappling with rising global bond yields and surging oil prices, which are heightening imported inflation. These economic challenges pose a threat to sustained corporate profits. Meanwhile, SEBI's auction initiative aims to bolster market integrity and enhance price discovery. Although RBI's new deposit guidelines provide some temporary relief amidst…

The Economic Times · Sep 2

Banks slash FCNR (B) interest rates: HDFC Bank, ICICI Bank, SBI, PNB, Axis Bank revise rates on 3-5-year deposits

FCNR (B) deposit interest rate cuts have particularly been made in deposits of three to five years, which had higher interest rates after the Reserve Bank of India (RBI) announced a relief on hedging costs.

The Economic Times · Sep 2

Rupee falls 2 paise to 94.97 against US dollar in early trade

The Indian rupee slipped further in early trading on Wednesday amidst signs of escalating tensions between the US and Iran, coupled with soaring oil prices creating turmoil in currency markets. With rising Treasury yields strengthening the dollar, risk aversion is on the rise. The Reserve Bank of India is closely…

The Economic Times · Sep 2

RBI intervention, dollar flows push Indian rupee to two-month peak

The Indian rupee surged to a two-month peak against the U.S. dollar, buoyed by decisive central bank interventions and dollars flowing in from foreign banks. Positive domestic growth indicators bolstered confidence in the rupee. However, rising global bond yields and increased crude oil prices acted as constraints, while the Reserve…

The Economic Times · Sep 1

RBI appoints Suman Ray as Executive Director, to head DICGC and Premises Department

Suman Ray will assume the role of Executive Director at the Reserve Bank of India. His appointment is effective from September 1, 2026, as announced by the central bank. Previously, Ray served as the Regional Director for Maharashtra and has extensive experience. He will now oversee the Department of Deposit…

The Economic Times · Sep 1

HDFC Bank CEO Jagdishan’s refusal to overhaul bank fueled surprise exit as chairman pushed for changes

HDFC Bank CEO Sashidhar Jagdishan will depart after his term ends next month. New chairman Rajiv Kumar sought aggressive changes and executive replacements. Jagdishan resisted some proposals and decided not to seek reappointment. The bank now faces a swift search for a new leader. This departure adds to recent turmoil…

The Economic Times · Sep 1

7.8% slam dunk! 'Dead' economy proved to be quite alive and kicking

India’s GDP grew 7.8% in Q1 FY27, beating RBI’s 7% forecast and the 7.1% Reuters poll median despite an oil shock, geopolitical tensions and trade disruptions. Growth was broad-based, with consumption rising 7.1%, investment 11.9%, manufacturing 9.2% and services around 10%.

The Economic Times · Sep 1

People aged above 40 account for 76 pc of individual deposits in banks: RBI data

Individuals over forty hold most bank deposits, while younger workers contribute less. Term deposits grew significantly, outpacing savings and current accounts. Large deposits of one crore and above formed a substantial portion. Bank credit growth accelerated, driven by corporate sector loans. Interest rates on loans below nine percent increased notably.

The Economic Times · Aug 31