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India's economy resilient amidst global uncertainties: RBI Bulletin

Amid global uncertainties, various high-frequency indicators point towards resilient economic activity in India across the industrial and services sectors, the Reserve Bank Bulletin said on Wednesday. The global economy is in a state of flux, reeling from the twin shocks of trade policy uncertainties and a spike in geopolitical tensions, said an article in the RBI's June Bulletin. "In this state of elevated global uncertainty, various high-frequency indicators for May 2025 point towards resilient economic activity in India across the industrial and services sectors," it said. The article noted that agriculture showed a broad-based increase in production across most major crops during 2024-25. Also, the domestic price situation remains benign, with headline inflation staying below the target for the fourth consecutive month in May. Financial conditions too remained conducive to facilitate an efficient transmission of rate cuts to the credit market, said the article on 'State of the

RBI extends interbank call money market timings by 2 hours from July 1

The revised timings for the call market will be 9:00 a.m. IST to 7:00 p.m. IST

RBI to conduct seven-day VRRR auction on Friday to mop up liquidity

The average liquidity surplus in the system over the past two weeks-reflected by the daily absorption by the RBI-was around Rs 2.5 trillion

Housing affordability in H1 CY25 improves as RBI cuts interest rate: Report

Ahmedabad is the most affordable housing market and Mumbai the least: Knight Frank

Sign agreement locker agreement promptly, buy cover for valuables

Customers may face service interruption if they don't sign agreement after multiple deadline extensions

50% of Indians pay online convenience fees; 78% prefer free platforms

A LocalCircles survey finds 50% of Indian consumers pay convenience fees on most purchases, with 78% preferring platforms that don't charge extra for products or services

Keep learning, question the status quo, RBI Guv Malhotra tells IITians

Never stop questioning the status quo and keep learning because karma largely determines outcomes, RBI Governor Sanjay Malhotra said on Monday as he went down memory lane and shared his thoughts with IIT students. An alumnus of IIT Kanpur, Malhotra also emphasised that trust is the foundation on which any relationship is built, whether it is marriage, friendship, or at the workplace - between the CEO and the employees, or between a company and its consumers. Malhotra recalled his days at IIT Kanpur and sounded nostalgic as he even mentioned his roll number while delivering the address at the 58th convocation of the institute. As a fellow alumnus, roll number 85213, who has experienced life after campus, Malhotra said there are four learnings from his journey -- learning for life, questioning the status quo, pursuing virtuous karma and trust. "Remember that learning is for life. The moment one is not learning, it is a signal that one is not growing; one is not advancing. It is ...

50% of Indians pay online convenience fees; 78% prefer free platforms

A LocalCircles survey finds 50% of Indian consumers pay convenience fees on most purchases, with 78% preferring platforms that don't charge extra for products or services

DFS Secretary urges fast-tracking of government data integration with ULI

ULI, seen as the UPI of credit, gets a push from the DFS and RBI, which have asked ministries and states to onboard datasets for seamless and inclusive credit delivery

Finance Ministry, RBI discuss scaling up unified lending interface

The finance ministry together with Reserve Bank held a meeting with various stakeholders, including state government representative to deliberate on ways to scale up Unified Lending Interface (ULI). ULI is a new digital public infrastructure (DPI) designed to streamline the lending process, similar to UPI in the payment space. It is a technology platform built to facilitate easy access to authenticated data from various sources, through standardised APIs to which all lenders can connect seamlessly through a plug and play' model. Financial Services Secretary M Nagaraju and RBI Deputy Governor T Rabi Sankar co-chaired a meeting with officials from various ministries/departments of Government of India and state governments on scaling up ULI, the finance ministry said in a post on X. ULI is envisioned as a DPI for credit delivery designed to integrate technology, data, and policy into one seamless platform, Nagaraju said during the meeting which saw participation of senior officials of

Edelweiss ARC eyes ₹6,000 cr in recovery; invest ₹1,000 to acquire NPAs

Following RBI curbs in FY25, Edelweiss ARC plans to invest up to ₹1,000 crore in stressed assets and targets ₹6,000 crore in recoveries, led by corporate and retail

Impact of India's large rate cut may be limited, says rate panel member

The MPC delivered a larger-than-expected 50-bp rate cut in June to bolster economic growth as inflation remained below target

Neutral stance gives flexibility to move up or down: Nagesh Kumar

Since the February 2025 MPC, the RBI has started to support growth by cutting policy rate

RBI deepens scrutiny of bank board meetings and governance practices

The central bank's message (through SSMs) is clear: Mere box-ticking will not suffice

There is nothing in MPC statement to suggest rate hikes are next: Ram Singh

Ram Singh said lower inflation print than the forecast will strengthen the case for a rate cut

Policy easing call this cycle to be more data-dependent: MPC member Saugata

This (West Asia conflict) is just one of the sources of uncertainty, albeit the 800 pound gorilla at the moment

Good show by banks as most register a rise in profit, but challenges ahead

Overall, public sector banks have put up a better show than private banks on most parameters

RBI, banks to launch DPIP platform to combat rising digital payment frauds

In a bid to rein in the increasing incidence of digital payment frauds, major public and private sector banks have been roped to develop Digital Payment Intelligence Platform (DPIP) as a Digital Public Infrastructure (DPI) under the supervision and guidance of the RBI. The proposed platform seeks to bolster fraud risk management by facilitating real-time intelligence sharing and gathering, thereby preventing fraudulent digital transactions, sources said. According to sources, the institutional structure of the proposed entity would be created with the help of both public sector and private sector lenders as fraud is a common monster. Earlier this month, a high-level meeting in this regard was convened to finalise the structure of the platform where senior bank officials, RBI officials and other stakeholders were present. Since the issue is one of the top agenda for both the government and the Reserve Bank of India (RBI), sources said the platform should become operational in the ne

Final RBI norms on project financing positive trigger for the PFC

Additional provisions forDate of Commencement of Commercial Operations deferred standard assets are reduced to 0.375 per cent-0.5625 per cent per quarter vs. 2.5 per cent for cumulative deferments

India's forex reserves rise by $2.29 billion to reach $698.95 billion

India's forex reserves rose USD 2.294 billion to USD 698.95 billion for the week ended June 13, the RBI said on Friday. The overall reserves had increased by USD 5.17 billion to USD 696.65 billion for the previous reporting week ended June 6. Forex reserves had touched an all-time high of USD 704.885 billion in end-September 2024. For the week ended June 13, foreign currency assets, a major component of the reserves, rose by USD 1.739 billion to USD 589.426 billion, the data released on Friday showed. 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. The gold reserves were up by USD 428 million to USD 86.316 billion during the week, the RBI said. The Special Drawing Rights (SDRs) also rose by USD 85 million to USD 18.756 billion, the central bank said. India's reserve position with the IMF also inched up by USD 43 million at USD 4.452 billio