RBI bans Mahindra Finance from outsourcing recovery activity to third party
The Reserve Bank of India (RBI) on Thursday banned Mahindra & Mahindra Financial Services from using private agents for recovery or repossession activity until further notice.
New Delhi: Finance Minister Nirmala Sitharaman has directed the Reserve Bank of India (RBI) to create a "whitelist" of loan applications that operate as per government rules and have legal sanction. She also asked the Ministry of Electronics and Information Technology (MeiTY) to ensure that only these apps are available on Google Play Store and Apple App Store.
Internationalisation of CBDC can address transborder payment issues, says RBI Deputy Governor
RBI deputy governor T Rabi Sankar Wednesday said in New Delhi that internationalisation of CBDC was crucial to addressing the problems faced by international bodies in cross border payments, media reports said.
Inflation is likely to follow downward trajectory in India: Shaktikanta Das
Inflation is likely to go down in the coming months and the impact of high inflation is already past its peak, Reserve Bank of India Governor Shaktikanta Das said Friday.
Mumbai: The Reserve Bank of India (RBI) has issued a clarification over a bulleting article written by its researchers that said "a big bang approach to privatise them will do more harm than good" given the important role played by them in financial inclusion.
Hit by MTM losses banks may approach RBI for relief
Mumbai: The banks have again approached the RBI, seeking to be allowed to spread the provisions covering the marked-to-market losses citing the losses incurred in June, media reports said.
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.
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.