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Inflation to ease to 4.6% in the first three quarters of 2024-25: RBI

The RBI bulletin released on Wednesday said that global growth continues to remain fragile and may slow down further in 2024

Razorpay, Cashfree receive final RBI nod for payment aggregator biz

Other players such as PayU, Paytm, JusPay, among others are yet to receive a nod from the regulator to onboard new merchants

13 states raise Rs 19,692 crore; Karnataka, Uttar Pradesh top list

The cut-off yield on the 10-year state bond was set in a range of 7.62-7.63%, against 7.71-7.74% in the previous week

RBI tightens norms to check evergreening of loans by lenders through AIFs

This includes companies in which lenders have current exposure such as an investment or a loan or in the past 12 months, the Reserve Bank of India (RBI) said

Govt lashes out at IMF for saying currency intervention excessive

As a result, the IMF reclassified India's foreign-exchange regime to a "stabilized arrangement" from a "floating" system, it said in its annual Article IV country report released on Monday

Banks seek RBI's nod to defer penal interest guideline by 3 months

The RBI issued guidelines instructing banks to levy charges rather than increase the interest rate for borrowers who fail to meet the terms and conditions of a loan contract starting January 1, 2024

Worst of liquidity crunch may be over, VRR, govt spending to lower deficit

VRR auctions, govt spending likely to help ease situation

India could be third largest economy in 2026: Ex Niti Aayog VC Panagariya

Today, India is the world's fifth-largest economy, preceded, in ascending order, by Germany, Japan, China, and the United States of America (USA)

SGB tranche III opens for subscription, will be available till Dec 22

Sovereign Gold Bond Scheme was launched by the government in November 2015, under Gold Monetisation Scheme

RBI board discusses prevailing economic, financial scenario at 605th meet

The Reserve Bank of India's board on Monday reviewed the prevailing economic and financial scenario, including the challenges posed by geopolitical developments. The 605th meeting of the Central Board of Directors of Reserve Bank of India was held today in Ekta Nagar (Kevadia) under the Chairmanship of Governor Shaktikanta Das. "The board reviewed the economic and financial scenario, both domestic and global, including the challenges posed by global geopolitical developments," the central bank said in a statement. It also discussed the activities of select central office departments and the draft report on trend and progress of banking in India, 2022-23. Directors on the central board Satish K Marathe, Revathy Iyer, Anand Gopal Mahindra and Ravindra H Dholakia attended the meeting. RBI Deputy Governors Michael Debabrata Patra, M Rajeshwar Rao, T Rabi Sankar, and Swaminathan J as well as Department of Economic Affairs Secretary Ajay Seth also participated in the meeting, the statem

RBI imposed monetary penalties worth Rs 40 crore on 211 entities in 2022-23

Out of 211, 176 penalties worth Rs 14.04 crore were alone imposed on cooperative banks, Bhagwat Karad told Lok Sabha on Monday

From India to Australia, Goldman sees banks easing policy earlier after Fed

Still, Goldman expects the rate reductions in the Asia-Pacific to be fewer and shallower than Fed officials' projected easing cycle

Hoping for reduction of rates from middle of FY25: SBI Chairman Khara

Khara also says, in an interview with Manojit Saha, the bank has a plan to plough back a significant part of its profit this financial year, and that would increase capital adequacy ratio by 140 bps

A year of setting up a new system of regulation

The RBI's efforts in 2023 were directed at supporting fair practices, innovation and controlling risks while focusing on financial stability

RBI's twin meetings with banks usher in new era of governance, compliance

Governance and business models of regulated entities came in for special attention of the central bank this year, reports Raghu Mohan

Reserve Bank of India sets sovereign gold bond issue price at Rs 6,199/gram

The Reserve Bank of India (RBI) on Friday announced that the issue price for the next tranche of Sovereign Gold Bond has been fixed at Rs 6,199 per gram and will open for subscription on December 18 for five days. The Sovereign Gold Bond (SGB) Scheme 2023-24 - Series III will be open for subscription during December 1822, 2023. The SGBs will be sold through scheduled commercial banks (except small finance banks, payment banks and regional rural banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, National Stock Exchange of India Limited and Bombay Stock Exchange Limited. In a statement, the RBI said the nominal value of the bond based on the simple average closing price for gold of 999 purity works out to Rs 6,199 per gram. The central government, in consultation with the Reserve Bank, has also decided to offer a discount of Rs 50 per gram less than the nominal value to those investors applying online and

India's forex reserves jump $2.816 bn to $606.859 bn, shows RBI data

India's forex reserves jumped USD 2.816 billion to USD 606.859 billion in the week ended December 8, the Reserve Bank of India (RBI) said on Friday. In the previous reporting week, the overall reserves had risen USD 6.107 billion to USD 604.042 billion. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of USD 645 billion. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year. For the week ended December 8, the foreign currency assets -- a major component of the reserves -- increased by USD 3.089 billion to USD 536.699 billion, the data said. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves were down USD 199 million to USD 47.13 billion during the week, the RBI said. The Special Drawing Ri

RBI receives bids 2.7 times against notified amount at 7-day VRR auction

The central bank conducted a VRR auction after six months

56% to shut bank lockers due to rising rentals, KYC requirement: Survey

Under the RBI guidelines for banks, revised locker agreements, defining responsibilities and liabilities, must be signed and submitted to the bank branch by account holders before December 31, 2023.

Das' final frontier: To bring down inflation to 4% before his term ends

During his five-year tenure, the banking sector has become resilient, improving profitability and maintaining healthy capital