RBI increases GDP growth forecast for FY24 to 7% amid geopolitical turmoil
Mumbai: The GDP growth projection for 2023-24 has been increased to 7%, from the previous estimate of 6.5%, Reserve Bank of India (RBI) Governor Shaktikanta Das said During the Monetary Policy Committee meeting announcements on Friday.
India's foreign exchange reserves surge by $ 2.538 billion to $ 597.935 billion
Mumbai: India's foreign exchange reserves swelled by USD 2.538 billion, reaching USD 597.935 billion for the week ending November 24, according to the Reserve Bank.
RBI MPC keeps repo rate unchanged, raises FY24 growth forecast to 7%; Industry reacts
Mumbai: The Reserve Bank of India's Monetary Policy Committee (RBI MPC) kept the repo rate unchanged at 6.5 percent for the fifth time in a row on Friday, thus maintaining the status quo.
RBI raises UPI transaction limit for hospitals, educational institutions to Rs. 5 lakh
New Delhi/IBNS/UNI: In a significant step, the Reserve Bank of India (RBI) on Friday announced the raise of the Unified Payments Interface (UPI) transaction limit for hospitals and educational institutions to Rs. 5 lakh, media reports said.
RBI's MPC meeting starts amid anticipations of status quo on key interest rate
Mumbai: As the Reserve Bank of India (RBI) commenced its three-day Monetary Policy Committee (MPC) on Wednesday, expectations are high that the Central bank will adhere to the current state of affairs regarding the repo rate, opting to retain it at 6.5%.
RBI cracks whip on peer-to-peer lenders over violation of rules and misselling: Report
Mumbai: The Reserve Bank of India has instructed peer-to-peer lending platforms to halt certain activities after inspections revealed violations of rules and deceptive sales practices, Reuters reported.
RBI and Bank of England sign MoU to end CCIL deadlock
Mumbai: The Reserve Bank of India and Bank of England Friday inked a memorandum of understanding (MoU) to end the imbroglio over British banks’ participation in Indian bonds and derivative market.
RBI takes over the board of Abhyudaya Cooperative Bank over governance concerns
Mumbai: The Reserve Bank of India (RBI) on Friday took over the board of Abhyudaya Cooperative Bank in Mumbai, citing major concerns regarding inadequate corporate governance standards, the central bank said in a statement.
RBI penalizes Citibank, BoB, and IOB for non-compliance with norms
Mumbai: The Reserve Bank of India (RBI) on Friday slapped monetary fines on Citibank, Bank of Baroda, and Indian Overseas Bank for violations of regulations.
Banking liquidity shortage widens to Rs 1.74 trillion
Mumbai: The liquidity deficit in India's banking system widened on Tuesday to its highest level in almost five years due to monthly goods and services tax payments.
RBI clears resolution plan for Reliance Capital
Mumbai: The Reserve Bank of India on Friday granted approval to the restructuring proposal for financially troubled Reliance Capital, paving the way for the acquisition of the company by IndusInd International Holdings Ltd (IIHL), a firm within the Hinduja Group.
India's forex reserves shrink by $462 million in the week ending Nov 10
Mumbai: India's foreign exchange reserves declined by $462 million to reach $590.321 billion for the week ending November 10, the Reserve Bank of India said on Friday.
RBI directs Bajaj Finance to stop lending under two lending products
Mumbai: The Reserve Bank of India (RBI) on Wednesday directed Bajaj Finance to stop issuing loans under its two products eCOM and Insta EMI Card.
ICICI Bank gets RBI's nod to make ICICI Securities wholly-owned subsidiary
Mumbai: ICICI Bank Thursday said it has received approval from the Reserve Bank of India to make ICICI Securities its wholly-owned subsidiary.
Shriram Capital seeks RBI nod for Asset Reconstruction Company license
Mumbai: Shriram Capital has applied for an Asset Reconstruction Company (ARC) license from the Reserve Bank of India (RBI), Moneycontrol reported.