August 07, 2022 22:25 (IST)
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India records 18,738 new Covid-19 cases in last 24 hours | Mobile internet services suspended in Manipur after protest over contentious bill | Technical hitch develops in maiden launch of new ISRO rocket | Jagdeep Dhankar is India's 14th Vice President | India sees hat-trick of gold medals in wrestling as Bajrang Puniya, Sakshi Malik, Deepak Puniya triumph at CWG

RBI increases repo rate by 50 bps, retains FY23 growth forecast at 7.2 pc

Mumbai: As widely expected, the Reserve Bank of India (RBI) on Friday increased the repo rate by 50 basis point to 5.40 per cent in a bid to tame inflation which has been above its comfort level for the past six months in a row.

India's forex reserves grow after four weeks of decline

Mumbai: India's foreign exchange reserves jumped by $2.4 billion during the week ended July 29 after falling for four consecutive months riding on the return of FPIs.

RBI hikes key lending rate by 50 basis points

Mumbai: Reserve Bank of India Governor Shaktikanta Das on Friday announced the bank's decision to hike the key lending rate by 50 basis points to 5.4 percent with immediate effect.

Rupee finding its own course, forex reserves adequate: Nirmala Sitharaman dismisses opposition's concern over economic crisis

New Delhi: A few days after former RBI Governor Raghuram Rajan and ex-NITI Aayog Vice-Chairman Arvind Panagariya dismissed concerns over the possibility of India facing a Sri Lanka-like economic crisis, Finance Minister Nirmala Sitharaman Tuesday told Rajya Sabha the rupee's fall against the USD was not alarming and the unit has performed better than its peers.

Rupee holding up well compared to advanced, EME peers: RBI Guv

Mumbai: Amid consistent depreciation of the rupee against the US dollar, Reserve Bank of India (RBI) Governor Shaktikanta Das Friday said that the Indian rupee has been holding up well compared to both advanced and EME (emerging market economies) peers.

RBI's reschedules Aug MPC meeting due to 'administrative exigencies'

Mumbai: Reserve Bank of India  (RBI) Thursday said that the Monetary Policy Committee’s (MPC) meeting next month is rescheduled due to “administrative exigencies.”

FICCI downgrades India GDP growth to seven percent for FY23

New Delhi/UNI: Amid continuing geo-political uncertainties and apprehensions of some of the major economies slipping into recession, industry body FICCI on Thursday projected the Indian economy to grow at seven percent in the FY 2022-23.

Finance minister says ban on cryptocurrencies not possible without international collaboration

New Delhi: Sitharaman's statement on cryptocurrencies or Virtual Currencies (VCs) in Parliament was in response to a five-pointer question by Thirumavalavan, a member of Parliament from Tamil Nadu's Chidambaram.

RBI slaps Rs 1.7 cr fine on Ola Financial Services for non-compliance

Mumbai: The Reserve Bank of India (RBI) slapped a Rs 1.67 crore fine on Ola Financial Services Ltd, the financial arm of app-based ride-hailing firm Ola, for non-compliance with its prepaid payment instrument (PPI) and know-your-customer (KYC) guidelines.

June retail inflation at 7 pc continues to be above RBI target for 6 months

New Delhi: India's June retail inflation dipped marginally to 7.01 percent in June to 7.04 percent in May, according to government data released on Tuesday, breaching Reserve Bank of India (RBI) target of 2 to 6 percent for six consecutive months.

RazorPay, Pine Labs among others to get RBI's nod for payment aggregator licence: Report

Mumbai: The Reserve Bank of India (RBI) has given in-principle nod to RazorPay and Pine Labs among other payment gateways and fintech companies who had applied for payment aggregator licence.

Non-banks can't load credit lines into prepaid credit instruments, RBI tells fintechs: Report

The Reserve Bank of India (RBI) on Monday issued a clarification on Prepaid Payment Instruments (PPIs) such as wallets and prepaid cards, stating that they cannot offer credit lines through these instruments, media reports said.

RBI lifts restrictions on Mastercard

Mumbai: Mastercard is back in the good books of the Reserve Bank of India (RBI) almost a year after the central bank imposed restrictions on its operations.

'CPI may have already peaked; Fed can borrow RBI template to control rampaging US inflation': SBI research report

Mumbai: After rising to a 95-month (almost 8 years) high to 7.79 percent in Apr’22, CPI inflation moderated to 7.04% in May’22 due to broad-based deceleration. Core CPI also moderated in May to 6.09% as compared to 6.97% in Apr’22,  State Bank of India’s Economic Research Department said Monday.

Peak repo rate seen at 5.5-5.75%, above pre-pandemic level by August; MSP hike for Kharif crops to increase inflation by 15-20 bps: SBI report

Mumbai: As widely expected, RBI’s Monetary Policy Committee unanimously decided to increase the policy Repo rate by 50 bps to 4.90% while also remaining focused on ‘withdrawal of accommodation’ to ensure that inflation remains within the target going forward, all the while supporting growth. RBI has retained its real GDP growth forecast for FY23 at 7.2% with risks broadly balanced.