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The Latest Breaking News from RBI

‘Worst of inflation over’: RBI moderates rate hike to 35bps

MUMBAI: Reserve Bank of India governor Shaktikanta Das on Wednesday increased key interest rates by 35 basis points, taking the total increase in rates since May to 225 basis points.

The Times of India

SC reserves verdict on demonetisation pleas, directs Centre, RBI to place related records

NEW DELHI: The Supreme Court on Wednesday directed the Centre and the Reserve Bank of India (RBI) to place before it in a sealed cover the relevant records pertaining to the government's 2016 decision to demonetise currency notes of Rs 1000 and Rs 500 denomination for its perusal.

The Times of India

Consumer confidence recovers in November; future index remains steady: RBI report

NEW DELHI: Consumer confidence continued on its recovery path in November but remained in pessimistic zone, a survey released by Reserve Bank of India (RBI) showed on Wednesday.

The Times of India

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RBI Monetary Policy Committee Hikes Policy Rate By 35 Bps To 6.25 Per Cent

The Reserve Bank of India monetary policy committee (MPC), which determines interest rates, has raised policy repo rate by 35 basis points (bps) to 6.25 per cent with immediate effect. Read on for details:

Dynamite News

‘Not thoughtless’: In SC, RBI backs government on demonetisation

NEW DELHI: Backing the Centre’s 2016 demonetisation decision, the Reserve Bank of India on Tuesday told the Supreme Court that it was not a “thoughtless” process as contended by petitioners who are challenging the decision and submitted that the court should refrain from scrutinising it for it was an economic…

The Times of India

Fitch retains India growth forecast at 7% for this fiscal

NEW DELHI: Fitch Ratings on Tuesday retained India's economic growth forecast at 7 per cent for the current fiscal, but cut projections for the next two financial years saying the country is not impervious to global developments.

The Times of India

Explained: Why World Bank upgraded India's economic forecast for FY23

NEW DELHI: The World Bank on Tuesday revised upwards its GDP growth forecast from 6.5% for India to 6.9% for 2022-23, saying the country was showing higher resilience to global shocks.

The Times of India

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Finance ministry holds review meeting with heads of banks to promote cross-border trade in rupee

NEW DELHI: The finance ministry on Monday had a comprehensive review meeting with CEOs of banks including top six private sector lenders and discussed ways to promote cross-border trade in rupee.

The Times of India

Delhi HC Seeks RBI Stand On PIL Seeking Uniform Banking Code For Foreign Exchange Transactions

The Delhi High Court on Monday sought a response from the Reserve Bank of India (RBI) on a Public Interest Litigation (PIL) seeking direction to implement a Uniform Banking Code for foreign exchange transactions to control black money generation and Benami transactions. Read on for details:

Dynamite News

RBI's Digital Rupee A "Game Changer", Says SBI Chairman Dinesh Khara

The Reserve Bank of India's pilot project on retail digital Rupee is a "game changer", said SBI Chairman Dinesh Khara, and added that it will have durable effects which would ensure better monetary transmission at much lesser costs. Read on for details:

Dynamite News

Digital rupee a game changer, says SBI chairman Dinesh Khara

NEW DELHI: SBI chairman Dinesh Khara on Friday said the Reserve Bank's first pilot project for retail digital rupee is a "game changer" with durable effects that should ensure better monetary transmission at much lesser costs.

The Times of India

Global economy must start bracing for low inflation, says Raghuram Rajan

The global economy could go back to a low inflation regime and central bankers pursuing restrictive monetary polices should keep that in mind, said Raghuram Rajan, a former governor of Reserve Bank of India (RBI).

The Times of India

Branches of Indian banks in overseas can deal in financial products not permitted in domestic market

MUMBAI: The Reserve Bank on Thursday allowed with certain riders foreign branches and subsidiaries of Indian banks to deal in financial products that are not specifically permitted in the domestic market.

The Times of India

RBI comes out with four-tiered regulatory framework for urban cooperative banks

MUMBAI: The Reserve Bank of India (RBI) on Thursday announced a four-tiered regulatory framework for categorisation of Urban Co-operative Banks (UCBs).

The Times of India

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The Times of India

Carlyle, Advent get conditional nod from RBI to own 9.99% in Yes Bank

MUMBAI: Private equity majors The Carlyle Group and Advent have got the Reserve Bank's nod to own up to 9.99 per cent in Yes Bank, the private sector lender said on Thursday.

The Times of India

Indian economy grows 6.3% in Q2 of FY23; services shine, manufacturing & mining sectors drag

NEW DELHI: India's gross domestic product (GDP) for the period July-September 2022 grew by 6.3% , data released by the government showed on Wednesday.

The Times of India

RBI to launch first pilot for retail digital rupee on December 1

NEW DELHI: The Reserve Bank of India (RBI) is all set to launch it first pilot for retail digital rupee (e₹-R) on December 1.

The Times of India

Bank credit grows at 17.2% in September quarter: RBI data

MUMBAI: Bank credit growth improved to 17.2 per cent in the September quarter 2022 from 7 per cent in the year-ago period, reflecting pick-up in economic activities.

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The Times of India

RBI pauses onboarding of online merchants by Paytm payments services

NEW DELHI: Banking regulator RBI has put a pause on onboarding of online merchants by Paytm Payments Services, even as the company said it will have no material impact on its business, according to a regulatory filing.

The Times of India

Lagged data, frequent reviews make monetary policy's task challenging: RBI deputy governor Michael Patra

MUMBAI: Reserve Bank deputy governor Michael Patra on Thursday said formulating monetary policy is a challenging task in a volatile environment like the current one, given lagged data inputs, which are also frequently reviewed.

Newslaundry

Demonetisation at 6: The idea, the objectives, and the post-event justifications

Six years ago today, India experienced an economic earthquake.

Dynamite News

Digital Rupee: Central Bank Digital Currency Is Going To Be Major Transformation Of The Way Business Is Done, Says RBI Guv

Governor Shaktikanta Das said, "Yesterday, we launched the trial of our digital currency, Central Bank Digital Currency (CBDC) project. It was indeed a landmark moment in the history of currency in our country. Read on for details:

The Times of India

Acting early would have exerted heavy costs: Shaktikanta Das on RBI missing inflation target

NEW DELHI: RBI governor Shaktikanta Das said on Wednesday that Indian economy is growing steadily, drawing strength from its macroeconomic fundamentals and buffers.

Benzinga

India Is Testing A Digital Rupee: 9 Lenders Join In For A New CBDC Pilot Project

The Reserve Bank of India (RBI) has launched the Central Bank Digital Currency (CBDC) for the wholesale market as part of its first pilot test program to evaluate and enhance the functionality of the digital rupee.

The Times of India

India’s inflation may be lower than data suggests, report says

NEW DELHI: India’s inflation numbers might be better than official data suggests once the massive impact of a government food program is factored in, according to a report released Monday by Bloomberg Economics.

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