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The Latest Breaking News from RBI

Business: First Pilot Of Digital Rupee To Commence On Tuesday, Says RBI

The use case for the pilot is settlement of secondary market transactions in government securities, the RBI said in a statement on Monday. Read on for details:

Dynamite News

India's forex reserves fall to $524.52 billion

MUMBAI: India's forex reserves dropped by $3.847 billion to $524.52 billion for the week ended October 21, the RBI said on Friday.

The Times of India

Put Images Of Deities Lakshmi-Ganesha On Currency Notes: Delhi CM Arvind Kejriwal's Appeal To PM For 'Getting Economy On Track'

Delhi Chief Minister Arvind Kejriwal has appealed to Prime Minister Narendra Modi to consider including the images of Goddess Lakshmi and Lord Ganesh on currency notes in India to "improve the economic situation of the country". Read on for details:

Dynamite News

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Reliance to demerge financial services arm Jio Financial Services; list it on stock exchanges

NEW DELHI: Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday said it will demerge its financial services arm and list it on the stock exchanges.

The Times of India

India needs dedicated wing to release Green GDP estimates, says RBI article

MUMBAI: India needs to set up a dedicated wing in the environment ministry to release estimates of Green GDP periodically on a regular basis and create a user-friendly data dissemination platform, said an RBI article.

The Times of India

Banks hike MCLRs, repo-linked lending rates post RBI rate action

NEW DELHI: Joining peer lenders, SBI, Kotak Mahindra Bank and Federal Bank are the latest in the list to revise their marginal cost of funds based lending rates (MCLRs) in addition to hikes in repo-linked rates from early October.

The Times of India

Fight against inflation will be dogged, prolonged: RBI article

MUMBAI: The fight against inflation will be dogged and prolonged, given the long and variable lags with which monetary policy operates, an RBI article said.

The Times of India

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Raghuram Rajan explains why India should not follow China's economic model

NEW DELHI: Encouraging India to adopt a services-led export model, former Reserve Bank of India (RBI) governor Raghuram Rajan said that following China's manufacturing-led export path would have been detrimental to world economy.

The Times of India

Dollar vs rupee: Congress, BJP clash over Nirmala Sitharaman’s comment

NEW DELHI: Finance minister Nirmala Sitharamans’s remarks about the rupee’s value vis-a-vis the dollar have sparked off a war of words between the BJP and the Congress. While the Congress has mocked and criticised the minister’s remarks, the BJP has countered it and defended their party leader.

The Times of India

RBI policymakers divided on future path of rates, meeting minutes show

MUMBAI: The Reserve Bank of India's (RBI) monetary policy committee may lean more on data in deciding the key interest rate going ahead even as policymakers appeared divided on the future path of rate hikes, minutes of its September meeting suggested on Friday.

The Times of India

India to be among fastest growing economies despite global challenges: RBI governor

MUMBAI: India is expected to be among the fastest growing major economies this fiscal, geopolitical turbulence notwithstanding, RBI governor Shaktikanta Das opined at last month's meeting of the rate setting panel MPC while going with the majority to raise the repo rate by 50 basis points to tame inflation.

The Times of India

India's forex reserves rise for the first time in over 2 months

MUMBAI: India's foreign exchange reserves rose to $532.87 billion in the week through October 7, the Reserve Bank of India's (RBI) weekly statistical supplement showed on Friday.

The Times of India

Explained: Why IMF called India's direct benefit transfer scheme a 'logistical marvel'

NEW DELHI: The International Monetary Fund (IMF) has called the deployment of India's direct benefit transfer (DBT) scheme as a 'logistical marvel' which has reached hundreds of millions of people.

The Times of India

More financial burden for the common man: Amid rising food prices, expect another rate hike by December

NEW DELHI: The Reserve Bank of India (RBI) may be forced to raise repo rate yet again in December with retail inflation rising to 5-month high of 7.41% in September, mainly on account of rising food prices.

The Times of India

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The Times of India

RBI asks entities to stop obtaining ratings from Brickwork Ratings

MUMBAI: The Reserve Bank on Wednesday directed entities falling under its regulations to immediately stop obtaining any new ratings from Brickwork Ratings India, which has been asked by Sebi to wind down operations.

The Times of India

RBI to tell government why it failed to check inflation since January

NEW DELHI: With inflation staying above the upper tolerance limit for nine straight months, the Reserve Bank will now have to submit a report to the central government detailing reasons for the failure to contain prices and remedial steps to rein in the price rise.

The Times of India

Retail inflation jumps to 5-month high of 7.41% in September

NEW DELHI: Retail inflation based on consumer price index (CPI) surged to 5-month high of 7.41% in September, data released by the government showed on Wednesday.

The Times of India

RBI issues consolidated guidelines on unhedged foreign currency exposure

MUMBAI: The Reserve Bank on Tuesday modified and consolidated guidelines for banks on unhedged foreign currency exposures of any entity to prevent losses due to heightened volatility in the forex market.

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The Times of India

RBI says credit ratings without lenders' info cannot be used by banks for capital computation

MUMBAI: To improve ratings disclosures on bank credit to large customers, RBI on Monday said unless rating agencies disclose names of all lenders in their rating statements, banks cannot use such ratings for capital computation for making provisions.

The Times of India

Financial bids for IDBI Bank likely to be invited by March, sale process to conclude next fiscal

NEW DELHI: The financial bids for IDBI Bank privatisation is likely to be invited by March and the conclusion of the sale process is expected in the next financial year, officials said.

The Hindu

Supreme Court asks petitioner to move RBI to control, keep checks on unauthorised online money lending platforms

The court also recorded the petitioner’s prayer that RBI should also intervene to protect the personal data of users.

The Hindu

India will stand out with 7% growth rate in FY23 amid global gloom, says EAC-PM member Sanyal

New Delhi Amid fears of the world slipping into recession, India will perhaps emerge as the stronges

The Times of India

Forex reserves decline to over 2-year low of $532.66 billion

MUMBAI: India's foreign exchange reserves fell to $532.66 billion in the week through September 30, their lowest level since July 2020, the Reserve Bank of India's (RBI) weekly statistical supplement showed on Friday.

The Times of India

RBI to soon start pilot launch of e-rupee for specific use cases

MUMBAI: The Reserve Bank on Friday said it will soon commence the pilot launch of e-rupee for specific use cases with a view to bolstering India's digital economy, making payment systems more efficient, and checking money laundering.

The Times of India

RBI launches advanced supervisory monitoring system DAKSH

MUMBAI: Reserve Bank governor Shaktikanta Das on Thursday launched a new 'SupTech' initiative DAKSH - the bank's Advanced Supervisory Monitoring System, which is expected to make the supervisory processes more robust.

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