Reserve Bank of India allows resident Indians to open foreign currency accounts in GIFT City
New Delhi/IBNS: The Reserve Bank of India (RBI) has allowed Indian residents to open foreign currency accounts in Gujarat International Finance Tec-City (GIFT City), widening the scope of remittances to International Financial Services Centres (IFSCs) under the Liberalised Remittance Scheme (LRS).
Latest RBI job data reveals India's employment growth rate accelerates to 6% in FY24
New Delhi/IBNS: A data released by the Reserve Bank of India (RBI) on Monday (July 8) showed that nearly 4.67 crore new jobs were created in India during the financial year 2023-24 taking the total number of employed persons in the country to 64.33 crore.
Reserve Bank of India has been collaborating bilaterally with various countries to link India’s Fast Payments System (FPS) – the Unified Payments Interface (UPI), with their respective FPSs for cross-border Person to Person (P2P) and Person to Merchant (P2M) payments.
Indian economy continues growth dynamism, FY25 GDP may come close to 7.5 pct: NCAER
The latest monthly data released in June show resilience and growth dynamism of the Indian economy, according to the Monthly Economic Review released by National Council of Applied Economic Research (NCAER) on Wednesday.
RBI says India's forex reserves hit all-time high of $651.5 billion
The Reserve Bank of India recently said India's forex reserves has moved up to touch USD 4.837 billion to touch a new all-time high of USD 651.51 billion for the week ended May 31.
RBI to permit opening of rupee account outside India: Report
Mumbai/IBNS: The Reserve Bank of India (RBI) on Thursday announced to permit the opening of rupee accounts outside India as part of its strategic action plan to internationalise the domestic currency, reports said.
RBI moves 100 tonnes of gold from UK to its vaults, first time since 1991: Report
Mumbai/IBNS: The Reserve Bank of India (RBI) has moved over 100 tonnes of gold from the UK to its vaults in India, reports said.
RBI imposes Rs. 1 crore penalty on ICICI Bank, fines Yes Bank Rs. 91 lakhs for non-compliance
Reserve Bank of India has fined private lenders Yes Bank and ICICI Bank over non-compliance.
Alignment with 4% inflation target may occur in latter part of the year: RBI report
Mumbai: The Reserve Bank of India's (RBI) latest monthly bulletin, released on Thursday, indicates that achieving a sustained alignment of inflation with the 4 percent target may occur in the latter half of the year.
Mumbai/IBNS: The Reserve Bank of India (RBI) has allowed Bank of Baroda (BOB) to onboard customers via its 'BOB World' mobile application, following which shares of the public sector bank surged 3.4 percent to Rs 271 per share on Thursday (May 9).
PSU Bank shares drop as new RBI norms for infra project financing spoil mood
Mumbai/IBNS: The shares of state-run lenders of India, including State Bank of India (SBI), Punjab National Bank (PNB), Union Bank of India, Bank of Baroda (BOB), and Maharashtra Bank, tumbled up to 6 percent on Monday after the Reserve Bank of India (RBI) published a draft proposing tighter rules for lending and heightened monitoring for under-construction infrastructure projects, reports said.
The Reserve Bank of India on Wednesday (April 24, 2024) barred private lender Kotak Mahindra Bank from onboarding new customers online and issuing new credit cards with immediate effect.
RBI won't accept or exchange Rs. 2000 currency notes on April 1
The Reserve Bank of India on Friday announced Rs. 2000 currency note will not be exchanged or accepted on April 1 due to operations associated with the Annual Closing of Accounts.
The Reserve Bank of India on Wednesday directed Paytm Payments Bank Ltd not to accept deposits or allow credit transactions, or top-ups, in customer accounts or prepaid instruments connected to those accounts after February 29.
RBI extends deadline for returning Rs 2000 bank notes till October 7
The Reserve Bank of India (RBI) on Saturday extended the deadline for exchanging or depositing Rs 2000 banknotes by a week to October 7, 2023.