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The Latest Breaking News from RBI

Saturday bank holiday: Are SBI, HDFC Bank, ICICI Bank open or closed today on July 11, 2026?

Banks will remain closed on Saturday, July 11, 2026? Digital banking services will continue to be available for customers even if banks are closed. Routine transactions can be performed using mobile and internet banking applications.

The Economic Times

FM Nirmala Sitharaman to meets heads of PSU banks on Mon, review foreign currency deposit mobilisation

Finance Minister Nirmala Sitharaman will meet public sector bank heads on Monday. The meeting will review progress on attracting foreign currency deposits from NRIs. RBI withdrew interest rate ceilings on certain foreign currency deposits until September 30. Concessional forex swap facilities are offered to banks for FCNR(B) deposits. This initiative…

The Economic Times

India's forex reserves rise $7.26 billion to $674.19 billion in week ended July 3

India's foreign exchange reserves saw a substantial rise of $7.26 billion. These reserves reached $674.19 billion in the week ending July 326, 2026. The Reserve Bank of India closely monitors foreign exchange market developments. The RBI intervenes when necessary to ensure orderly market conditions. The central bank refrains from targeting…

The Economic Times

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RBI is right to act on digital payment fraud. But some safeguards need sharper design

Cyber fraud complaints and losses are increasing significantly in India's digital payment system. The Reserve Bank of India has proposed new safeguards to address these growing concerns. A one-hour lag on large transactions aims to reduce financial losses from fraud. Additional authentication for vulnerable users and scrutiny of mule accounts…

The Economic Times

RBI rate hike: Interest burden for Indians may go up later this year amid inflation risks

The Reserve Bank of India is poised to keep its policy rates steady in the short term. Nonetheless, BofA Securities predicts that rising concerns over domestic inflation could lead to increased rates in the future. Revisions to FY27 economic growth projections indicate a stronger demand trend, while external accounts are…

The Economic Times

RBI faces $100 billion challenge after record currency defense

RBI faces a challenge unwinding its large bearish dollar bets. The central bank has begun trimming its massive short dollar forward position. This unwinding must be carefully managed to avoid currency market destabilization. Recent measures aim to attract foreign capital and support the rupee. Forecasters predict continued pressure on the…

The Economic Times

India must finish the capital account reforms begun in 1991

India's capital controls have transformed from restrictive permissions to more refined regulations. As the nation pursues its economic aspirations, a more open and predictable capital framework is essential. Recent moves by regulators were unexpected and lacked clarity for investors.

The Economic Times

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Bank credit growth to ease as corporates tap bond markets, overseas funding: CareEdge

Bank credit growth is expected to moderate gradually in the upcoming fiscal year. Large corporations will increasingly use domestic bond markets and overseas borrowings for funding. The Reserve Bank of India's policy measures make external funding more attractive for businesses. This shift will reduce reliance on traditional bank loans for…

The Economic Times

RBI launches 3 key surveys to get input for monetary policy

The Reserve Bank of India launched three important surveys on Thursday. These surveys will gauge inflation expectations and consumer confidence among households. Data from these surveys will provide critical inputs for monetary policy formulation. The Inflation Expectations Survey of Households will cover nineteen cities. The Rural and Urban Consumer Confidence…

The Economic Times

State Bank of India draws over $1.5 billion in forex deposits

State Bank of India has raised over $1.5 billion from overseas citizens. This program offers attractive returns due to Reserve Bank of India subsidies. Depositors can leverage funds, earning more than their borrowing costs. Banks are expanding outreach to India's large diaspora globally. This initiative echoes a similar plan from…

The Economic Times

India consumer inflation likely breached RBI's 4% target in June, poll shows

India's consumer inflation likely breached the central bank's target in June. Higher food and fuel prices added to cost pressures for consumers. Economists forecast inflation quickened to 4.3% from May's 3.93%. Wholesale price inflation eased marginally while core inflation remained steady. This marks the highest inflation reading since India revised…

The Economic Times

Devil is in the footnotes: RBI's Financial Stability Report is transparent, yet leaves some key questions unanswered

The RBI's latest financial stability report highlights a noteworthy level of transparency regarding significant economic metrics. There’s an uptick in household debt primarily fueled by consumption, contributing to nearly half of the total rise. While bad loans are generally low, certain sectors face increased default rates. Growth in gold lending…

The Economic Times

RBI backs crypto ban, tax department warns of evasion risks, documents show

India's central bank has reiterated its preference for a cryptocurrency policy "leaning towards prohibition," warning that crypto assets and stablecoins could threaten financial stability and monetary sovereignty, according to internal government documents reviewed by Reuters.

The Economic Times

FCNR(B) FD vs NRE FD: Where can NRIs earn more on $50,000 investment? Compare returns, currency risk and tax benefits

Non-resident Indians (NRIs) and overseas citizens of India (OCIs) can consider investing in FCNR(B) and NRE fixed deposits to achieve reliable returns. While FCNR(B) deposits safeguard against currency fluctuations as they are held in foreign currency, NRE deposits offer opportunities in Indian rupees without such protection. Ultimately, your decision should…

The Economic Times

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The Economic Times

South Indian Bank shares tumble 9% after four-day rise; RBI clears Mahesh Pai as MD & CEO

South Indian Bank shares fell sharply on Wednesday, snapping a four-session winning streak as investors booked profits after a sharp three-month rally. Meanwhile, the RBI approved the appointment of Mahesh Muralidhar Pai as the bank's Managing Director and CEO for a three-year term, effective October 1, 2026, subject to further…

The Economic Times

How to strengthen Indian rupee without a rate hike

The Indian Rupee has depreciated significantly against the US Dollar since early 2025. Measures were introduced to boost capital inflows and support the currency. The Reserve Bank of India has intervened heavily in foreign exchange markets. A proposed foreign exchange cash reserve ratio could resolve currency leads and lags. This…

The Economic Times

Borrowers take note: HDFC Bank revises lending rates for different tenures; check updated list

HDFC Bank has adjusted its MCLR rates, with changes effective July seventh, 2026. The overnight MCLR decreased by five basis points, while longer tenors saw increases. One-year and three-year MCLRs rose by five basis points each.

The Economic Times

International funds outperform domestic funds with 37% one-year returns. Should investors chase rally or wait for correction?

International mutual funds have delivered strong one-year returns, significantly outperforming domestic equity categories. This outperformance is largely driven by global technology stocks and currency depreciation against the US dollar. Experts advise against chasing recent gains, emphasizing long-term asset allocation for international diversification. While international funds show strong recent performance, domestic…

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The Economic Times

This SGB delivers 190% return on premature redemption date: Gold bond turns Rs 1 lakh investment into Rs 2.90 lakh

Sovereign Gold Bond (SGB) 2020-21 Series-IX investors can now redeem their bonds prematurely from July 4, 2026. The Reserve Bank of India has fixed the premature redemption price at Rs 14,366 per unit, reflecting a significant 190.22% return on the initial investment.

The Economic Times

A little more conversation: Greater transparency is key to better monetary policy transmission and central bank accountability

The US Federal Reserve's shift towards less transparent monetary policy communication under Chair Kevin Warsh has sparked debate. While the Fed kept rates unchanged, the move away from forward guidance and greater openness is criticized for potentially hindering market guidance, especially in emerging markets like India. Experts argue that clear…

The Economic Times

Falling oil prices give RBI more room to focus on growth, but relief uneven across Asia: Standard Chartered

Falling crude oil prices are providing a significant boost to India and other Asian nations, allowing central banks to prioritize economic growth. This "disinflationary relief" eases pressure on external accounts, especially for heavy energy importers like India, Thailand, and the Philippines. While some economies like South Korea may still face…

The Economic Times

RBI imposes Rs 66.7 lakh penalty on Bank of Baroda, GIC Housing Finance

The Reserve Bank of India has levied significant penalties on Bank of Baroda and GIC Housing Finance for regulatory breaches. Bank of Baroda faces a Rs 63.6 lakh fine for charging excess interest and delayed KYC record uploads. GIC Housing Finance has been fined Rs 3.1 lakh for failing to…

The Economic Times

Food inflation projected to average 6% in FY27 amid rainfall deficit concerns: CareEdge Ratings

India faces a challenging economic outlook with food inflation projected at 6% and CPI at 5% in FY27, largely due to a severe monsoon deficit impacting agriculture. Despite a widening non-oil trade deficit, strong services exports and a surge in FDI inflows are providing crucial support. Remittances also show robust…

The Economic Times

ICICI Bank mulls first benchmark dollar bond sale since 2017

ICICI Bank is planning its first benchmark US dollar bond sale since 2017, aiming to raise at least $500 million through offshore bonds. The proposed issuance comes after the RBI introduced a concessional foreign exchange swap facility, encouraging Indian lenders to tap overseas markets for funding.

The Economic Times

Mynd Fintech, part of Treds platform M1xchange, acquires C2FO India

M1xchange is an RBI-licensed Treds (Trade Receivables Electronic Discounting System) entity. C2FO runs C2Treds and also has the same licence, which it may surrender going ahead. C2FO India’s parent company Pollen Inc. (C2FO US) is a major global player in early-payments solutions for small businesses, processing around $500 billion in…

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