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The Latest Breaking News from RBI

Deloitte projects 6.5-6.8% GDP expansion in FY27, growth to strengthen in second half

Deloitte India on Sunday projected India's economy to grow between 6.5% and 6.8% in the current financial year, with momentum expected to pick up in the second half of FY27. The firm said growth would be supported by stronger festive demand, monetary easing and a gradual stabilisation in global economic…

The Economic Times

Is RBI asking people to pay Rs 7,500 in tax to get Rs 1 lakh payment? Here’s the truth

A fake Reserve Bank of India letter is misleading people about pending payments. It falsely claims a Rs 1 lakh payment is on hold due to transaction failure. Recipients are asked to pay Rs 7,500 as a refundable tax to release funds. The Press Information Bureau's Fact Check unit has…

The Economic Times

India's forex reserves rise $964 million to $675.16 billion for week ended July 10

India's foreign exchange reserves increased by $964 million to $675.16 billion. Foreign currency assets, the largest component, grew by $930 million during the week. Gold reserves also recorded an increase, rising by $24 million to $105.23 billion. Special Drawing Rights and reserve tranche position with the IMF saw minor increases.…

The Economic Times

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West Asia crisis, uncertain monsoon major risks for growth: RBI Governor Sanjay Malhotra

Reserve Bank Governor Sanjay Malhotra noted West Asia crisis and weak monsoon pose growth risks. India's economy grew over seven percent recently, supported by strong fundamentals. The central bank projects 6.6 percent GDP growth for the current financial year. Inflation forecasts are raised to 5.1 percent, driven by supply-side factors.…

The Economic Times

Rupee closes at 96.28 vs USD; logs sharpest weekly drop since May as oil price jump stings

The Indian rupee faced its most significant weekly drop since May, driven by rising oil prices and strong demand for the dollar. Increasing tensions between the U.S. and Iran exacerbated concerns over energy supplies, further straining the rupee's position. However, interventions from state-run banks provided some relief, temporarily halting its…

The Economic Times

Indian state-run banks estimate $30 bln flow from overseas deposit scheme, sources say

Indian state-run banks expect to raise nearly $30 billion through the RBI's subsidised NRI dollar deposit scheme by September 30, bankers told Reuters. About $10 billion has been mobilised so far. Banks expect inflows to accelerate after the RBI eased lending rules, with most funds likely to come in closer…

The Economic Times

Iran war and monsoons key risk for Indian economy, says RBI Governor Sanjay Malhotra

RBI Governor Sanjay Malhotra said India’s inflation remains elevated, with rising Middle East tensions and the possibility of a weak monsoon posing key risks. He attributed recent price pressures mainly to supply-side factors and said policymakers should remain in a “wait and watch” mode.

The Economic Times

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RBI bars banks, NBFCs from selling acquired stressed assets back to defaulting borrowers, related parties

New Reserve Bank of India norms will prevent lenders from reselling acquired assets to defaulting borrowers. These prudential rules apply to banks, small finance banks, and NBFCs starting October 2026. Specified non-financial assets are those obtained when resolving stressed loans from borrowers. Lenders must establish board-approved policies for acquiring and…

The Economic Times

Can banks increase FD interest rates as inflation crosses RBI’s target of 4%?

Rising inflation has crossed the Reserve Bank of India's target, signaling potential repo rate hikes. Higher inflation and increased credit demand suggest banks might raise fixed deposit interest rates soon. Banks monitor deposit growth and credit demand before adjusting their fixed deposit rates. High yields on government securities and small…

The Economic Times

SGB premature redemption exit date: This gold bond has turned Rs 1 lakh investment into Rs 4.18 lakh

The Reserve Bank of India has set the redemption price for SGB 2019-20 Series-II. Investors can redeem these bonds prematurely starting July 16, 2026. The redemption value is fixed at Rs 14,199 per unit of SGB. This represents a significant return of nearly 319% on the initial investment. Investors will…

The Economic Times

RBI proposes stricter data governance framework for banks, NBFCs; seeks feedback by Aug 17

The Reserve Bank of India has proposed a new data governance framework. This framework aims to strengthen data risk management for financial institutions. Banks and NBFCs will need to implement robust data lifecycle controls. A board-level committee will oversee the new data governance policies. This initiative seeks to ensure data…

The Economic Times

The Rs 1.5 lakh crore bank guarantee link that could rattle NSE, BSE and MCX

Revised RBI norms on bank guarantees could squeeze proprietary traders by sharply reducing leverage and raising funding costs, potentially hurting derivatives trading volumes. Analysts say the move, along with higher STT, may weigh on the valuations of exchange operators such as NSE, BSE and MCX.

The Economic Times

Selling Gold? Your tax bill depends on how you own it; ETFs, SGBs, jewellery and digital gold compared

Unlike Gold ETFs, both physical gold and digital gold have longer required holding periods for realizing long-term gains. Additionally, Sovereign Gold Bonds will see changes in capital gains tax exemption starting April 2026. Tax implications for inherited or gifted gold depend on how and when the gold is sold.

The Economic Times

Union Bank Q1 Results: Profit rises over 27% to Rs 5,641 crore

Union Bank of India achieved a remarkable 27.5% surge in its net profit for the June quarter. The bank experienced a subtle rise in net interest income, alongside a slight enhancement in margins. Additionally, the bank attracted deposits from overseas locations like Australia and the UAE through a specialized RBI…

The Economic Times

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The Economic Times

HDFC Bank gets RBI nod to appoint Rajiv Kumar as part-time chairman

HDFC Bank received RBI approval for Rajiv Kumar's appointment as part-time chairman. His three-year term as chairman will begin on July 15, 2026. This appointment follows the bank's application and an earlier intimation to the regulator. The bank thanked Keki Mistry for his service as interim chairman. Mistry will continue…

The Economic Times

India, UAE central banks said to hold talks on FX deposit issues

India and the UAE central banks have discussed regulatory hurdles affecting India's drive to attract foreign-currency deposits from NRIs in the Gulf. The talks come as Indian banks seek up to $50 billion under the RBI's subsidised deposit scheme, while concerns over capital outflows, due diligence and funding costs continue…

The Economic Times

India's capital account surplus may rise to $105 billion in FY27: Motilal Oswal

India's capital account surplus is expected to reach USD 105 billion in FY27. Stronger foreign capital inflows and improved portfolio investments will support this growth. Services exports and remittances provide a steady cushion against trade deficits. The current account deficit is projected to widen modestly to USD 60 billion. This…

The Economic Times

Oil spike jolts Indian bonds, 10-year yield hits three-week high

On Tuesday, Indian government bonds faced a notable downturn, with the benchmark 10-year yield climbing to a three-week peak as global market anxiety intensified. The recent spike in oil prices following tensions in the U.S.-Iran relationship has shaken investor confidence, resulting in a weaker rupee and declining stock values in…

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The Economic Times

India Inc's overseas fundraise picks up pace in May to $4.7 bn: RBI data

Indian companies' external commercial borrowings proposals saw a significant jump in May. Total filings reached USD 4.74 billion, a notable increase from April's figures. Prominent firms like Indian Railway Finance Corporation and NTPC filed substantial borrowing intentions. Kisetsu Saison Finance also submitted multiple proposals for on-lending purposes. Filings for rupee-denominated…

The Economic Times

Citi, others dial back India rate hike calls as inflation expected to stay moderate

Controlled inflation prompts economists to delay interest rate hike expectations. Retail inflation rose to 4.38% in June, exceeding the RBI's target. Core inflation remained around 4%, suggesting a lower annual average. This shift means the Reserve Bank of India may not tighten policy soon. Future rate hikes depend on sustained…

The Economic Times

Retail inflation may harden in FY27, RBI could hike rates: Crisil

Retail inflation in India is projected to increase through the fiscal year. Elevated fuel costs and input prices are driving this upward trend. The Reserve Bank of India will monitor inflation closely for policy adjustments. Food prices face pressure from weather-related risks and higher costs. A potential rate hike is…

The Economic Times

India draws nearly $10 billion under RBI's overseas deposit drive to support rupee: Report

India has attracted about ten billion dollars through a special deposit program. This initiative aims to bolster foreign exchange reserves and support the Indian rupee. The Reserve Bank of India introduced a zero-cost foreign-exchange swap facility for these deposits. Banks can now offer higher returns and leverage these funds, making…

The Economic Times

RBI Ombudsman scheme 2026: You can get up to Rs 33 lakh compensation for your bank grievances under this scheme

The RBI Ombudsman 2026 scheme offers free grievance redressal for customers. This scheme covers complaints against banks and other regulated entities. Customers can seek compensation up to thirty-three lakh rupees for losses.

The Economic Times

India's CPI inflation may average 5% in FY27; stable rupee, RBI policy to help contain price pressures: SBI Research

India's retail inflation is expected to average 5% in FY27, with the RBI likely to keep interest rates unchanged for an extended period, according to SBI Research. The report projects CPI inflation at 5.1% in Q2, 5.7% in Q3 and 5.1% in Q4, with a stable rupee and improving foreign…

The Economic Times

India inflation risks mount on renewed US-Iran tensions, El Nino

India's inflation faces an uncertain future outlook. Renewed tensions in the Strait of Hormuz may increase oil prices. An intensifying El Niño raises concerns about higher food costs. Economists expect the Reserve Bank of India to maintain rates. Policymakers are watching closely for broader price pressures.

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