The Latest Breaking News from RBI

AIBEA faults RBI directive to negotiate with wilful defaulters on one-time settlement

At Canara Bank's 16th State Conference, AIBEA Sec. Rambabu said NPAs were eating into the vitals of the banking sector. GM Verma praised CBWEU's efforts & assured cooperation in solving members' issues. AIBEA VP Sharma lauded bank employees' service during COVID-19.

The Hindu · Jul 23, 2023

Fourth railway line project between Chennai Beach and Egmore hits a hurdle

Southern Railway faces difficulty in acquiring land for 4th railway line b/w Chennai Beach & Egmore, crucial to increase frequency of long-distance & freight trains. State govt & RBI yet to notify revised G.O. & grant permission for construction of retaining wall. Residents hope for early solution to complete project…

The Hindu · Jul 21, 2023

Eye on Emirati flows: on the new India-UAE framework and rupee-dirham transactions

The India-UAE local currency settlement system could serve as a precursor for other bilateral currency accords and help in the internationalisation of the rupee

The Hindu · Jul 17, 2023

A.P. CID issues notices to subscribers of Margadarsi Chit Fund for alleged norm violations

For the first time in the ongoing investigation into the alleged financial fraud cases involving Margadarsi Chit Funds Pvt. Ltd. (MCFPL), the A.P. Crime Investigation Department (AP-CID) has issued notices to the individuals who have made cash deposits towards their subscription amount,

The Hindu · Jul 11, 2023

SC dismisses plea against ₹2,000 currency exchange policy

The Supreme Court on Monday dismissed a petition challenging the notifications issued by the Reserve Bank of India (RBI) and the State Bank of India (SBI) permitting the exchange of ₹2,000 currency notes without requirement of any identity proof.

The Hindu · Jul 10, 2023

Telangana to raise ₹10,200 cr. OMBs during second quarter

The State Government is continuing its tightrope walk in terms of financial resources to meet its immediate commitments like payments under Rythu Bandhu, Dalit Bandhu and other schemes.

The Hindu · Jul 10, 2023

RSS’s pharma body writes to Health Ministry criticising risk-based inspections, backtracks later

In a strongly worded letter to the Union Health Ministry, the Rashtriya Swayamsewak Sangh- (RSS) backed Laghu Udyog Bharati, which represents over 300 micro and small industries across India, has said the Union government’s risk-based inspections (RBI) on pharma companies were draconian and have been a huge discouragement to the…

The Hindu · Jul 7, 2023

Modi govt’s push to take Indian rupee global gets off to a slow start

NEW DELHI: India’s year-old campaign to boost the rupee’s role in cross-border payments has made little headway, according to people familiar with the matter, underscoring the challenges for countries trying to reduce their dependence on the dollar.

The Times of India · Jul 7, 2023

Internationalising the rupee without the ‘coin tossing’

A start could be made to push for making the rupee an official currency in international organisations, thereby giving it a higher profile and acceptability

The Hindu · Jul 6, 2023

Delhi HC dismisses PIL against withdrawal of ₹2,000 notes

The Delhi High Court on July 3 dismissed a public interest litigation (PIL) challenging the Reserve Bank of India (RBI’s) decision to withdraw ₹2000 denomination currency notes from circulation.

The Hindu · Jul 3, 2023