Home

Nation

States

International

Politics

Opinion

Economy

Sports

Entertainment

Trending:

Searched Tag: reserve bank of india

RBI sets up expert committee on benchmarking of its statistics

RBI sets up expert committee on benchmarking of statistics

August 12, 2024, 04:30 PM - 2 min read

The Reserve Bank of India (RBI) announced on Monday the formation of a 10-member panel, chaired by Deputy Governor Michael Debabrata Patra, to benchmark its statistics against global standards, with a report due by November 2024.

Union Finance Minister Nirmala Sitharaman along with RBI Governor Shaktikanta Das and Finance MoS Pankaj Chaudhary addresses a press conference after the Central Board of Directors meeting of the Reserve Bank of India in the customary post-budget meet, at Reserve Bank of India in New Delhi, Saturday, Aug.10, 2024.

FM calls for banks to revisit traditional deposit methods

August 10, 2024, 05:30 PM - 2 min read

During a post-budget meeting with the central board of the Reserve Bank of India (RBI) on Saturday, Sitharaman highlighted the need for banks to adopt “old-fashioned” methods to attract deposits through innovative and appealing schemes.

RBI Aims to Expedite Cheque Clearing Process to a Few Hours

Cheque clearing time cut to hours from 2 days: RBI Guv

August 8, 2024, 03:32 PM - 2 min read

Currently, cheque clearing via the Cheque Truncation System (CTS) takes up to two working days. The RBI plans to introduce continuous clearing with 'on-realisation-settlement,' reducing the cycle to a few hours on the same day. This will expedite payments, benefiting both payers and payees, said the RBI chief.

RBI Flags Risks from Short-Term Deposits and Loan Growth

RBI pushes banks for better deposit strategies

August 8, 2024, 03:00 PM - 2 min read

Concerned over household savings moving towards alternative investment avenues, RBI Governor Shaktikanta Das on Thursday asked banks to mobilise deposits through innovative products and services by leveraging their vast branch network.

RBI holds repo rate at 6.50% for 9th meeting

August 8, 2024, 12:59 PM - 2 min read

The Reserve Bank of India kept its benchmark repo rate at 6.50% for the ninth consecutive meeting, focusing on controlling persistent high food inflation. With inflation at 5.08%, the RBI remains vigilant to avoid economic spillovers. It retained India's GDP growth forecast at 7.2% and inflation at 4.5%, while anticipating potential policy changes by October based on economic trends.

RBI retains FY24 growth at 7.2%, inflation at 4.5%

August 8, 2024, 12:46 PM - 2 min read

The Reserve Bank of India retained growth and inflation projections at 7.2% and 4.5% respectively for FY 2024-25, citing improved agricultural activity, buoyant services, and positive investment trends, while acknowledging risks from geopolitical tensions and financial market volatility.

India’s forex reserves hit all-time high USD 666.85 billion

July 19, 2024, 07:13 PM - 2 min read

This latest jump surpasses the previous record of USD 655.82 billion set for the week ending June 7, following an earlier rise of USD 5.16 billion to USD 657.15 billion reported for the week ending July 5.

Prime Minister Narendra Modi with Maharashtra Governor Ramesh Bais and Deputy Chief Minister Devendra Fadnavis during the foundation stone laying and inauguration ceremony of multiple developmental projects, in Mumbai, Saturday, July 13, 2024.

PM claims 8 cr new jobs created in 3-4 years, jabs at oppn

July 13, 2024, 07:43 PM - 2 min read

Citing a report by the Reserve Bank of India (RBI), Modi suggested that these employment figures debunk the “fake narratives” spread by opposition parties.

India's debt-to-GDP ratio drops to 18.7% in 2024

June 27, 2024, 11:58 AM - 2 min read

India’s external debt to GDP ratio fell to 18.7% in March 2024 from 19.0% in March 2023. Despite a $39.7 billion rise in external debt to $663.8 billion, high economic growth boosted GDP, lowering the debt-to-GDP ratio.

India's CAD declines to $23.2 billion, 0.7% of GDP in 2023-24

India’s CAD declines to $23.2 bn, 0.7% of GDP

June 25, 2024, 10:08 AM - 2 min read

India's current account deficit significantly declined to $23.2 billion (0.7% of GDP) in 2023-24 from $67 billion (2% of GDP) the previous year, driven by a lower merchandise trade deficit and increased net invisible receipts, with notable improvements in foreign exchange reserves, services exports, and portfolio investments, according to the RBI.

Experts back RBI's digital payments platform

June 8, 2024, 07:51 PM - 2 min read

Industry experts have endorsed the Reserve Bank's proposal to establish a digital payments intelligence platform. They believe it will help reduce fraud and increase consumer confidence.

UPI Lite users to soon enjoy automatic wallet refills, proposes RBI

RBI permits auto-replenishment of UPI Lite wallet

June 7, 2024, 01:06 PM - 2 min read

The Reserve Bank proposed a facility for automatic replenishment of UPI Lite wallets and expansion of the e-mandate framework to include recurring payments like Fastag and NCMC, aiming to promote small-value digital transactions and enhance convenience in travel-related payments.