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PM Modi hails RBI for being selected for Digital Transformation Award 2025

Prime Minister Narendra Modi on Sunday hailed as a "commendable accomplishment" the Reserve Bank of India being selected for the Digital Transformation Award 2025, and said it reflects an emphasis towards innovation and efficiency in governance. In a post on X, the Reserve Bank of India (RBI) said it has been selected for the Digital Transformation Award 2025 by Central Banking, London, UK. "RBI was awarded and recognised for its initiatives, including Pravaah and Sarthi systems, that have been developed by an in-house developer team. The awards committee noted how these digital initiatives have reduced use of paper-based submissions thus transforming RBI's internal and external processes," the post read. Tagging the post, Modi said, "A commendable accomplishment, reflecting an emphasis towards innovation and efficiency in governance." Digital innovation continues to strengthen India's financial ecosystem, thus empowering countless lives, the prime minister said.

MSME industry bodies urge RBI to tweak norms for ecommerce exports

A digital verification system linked to bank accounts could further streamline the process

RBI awarded digital transformation Award 2025 for digital initiatives

The awards committee noted how these digital initiatives have reduced the use of paper-based submissions, thus transforming RBI's internal and external processes

Climate risks: RBI moots common pool of projects to enhance financing

Stressing the need for regulated entities to consider creating a common pool of bankable projects for climate related finance, RBI Governor said

AA ecosystem consent processing up 78% in FY25, shows Sahamati data

The average loan ticket size in the first half of FY25 was Rs 84,507, compared to Rs 92,086 since September 2021

India Inc files ECB intents worth $4 billion with RBI in January 2025

NMDC Data Centre Private Ltd filed ECB papers to raise $175 million with a maturity period of three years for local sourcing of capital goods

RBI invites application for SRO in account aggregator space by June 15

The complexity necessitates frequent coordination among REs to address various operational issues

Amid IndusInd fallout, RBI examines derivatives exposures of some banks

On Monday, private lender IndusInd Bank flagged a 2.35 per cent hit to its net worth due to an underestimation of hedging costs related to forex transactions

RBI invites applications for self-regulatory body for account aggregators

Launched in September 2016, the account aggregator framework ensures secure financial data sharing; RBI said applicants must apply via the PRAVAAH portal by June 15

RBI stepped in after IndusInd Bank 'delayed' provisioning by a year

Seeks CEO probables' names soon; bank mcap slips Rs 19K cr

Former RBI deputy governor MK Jain to join Reliance Industries as advisor

The appointment comes at a time when other business conglomerates, including the Tatas, are investing heavily in the financial services sector

Growth in net sales of FDI companies moderated to 9.3% in FY24: RBI

The RBI on Tuesday said with the normalisation of post-pandemic pent-up demand conditions, the growth in net sales of select FDI companies moderated to 9.3 per cent during 2023-24 from the high of 20.3 per cent in the previous year. The Reserve Bank released the data relating to financial performance of non-government non-financial (NGNF) FDI companies in India during 2023-24 based on audited annual accounts of 2,418 companies, which reported in the Indian Accounting Standards (Ind-AS) format for three accounting years from 2021-22 to 2023-24. Manufacturing and services sectors recorded lower sales growth of 6.4 per cent and 12.7 per cent, respectively, during 2023-24. Moderation in sales growth was broad-based across the major industries within the manufacturing and services sectors, except 'Wholesale and retail trade' and Electricity, gas, steam and air condition supply' industries. The paid-up capital (PUC) of these companies amounted to Rs 5,30,160 crore, which accounted for 51

IndusInd Bank stock falls: Promoter assures liquidity, no margin calls

IndusInd International Holdings Chairman Ashok Hinduja urged shareholders not to panic after IndusInd Bank's share price plummeted 23%

RBI tweaks banks' lending norms, pushes NBFCs to modify funding strategy

NBFCs may shift funding strategy as RBI eases bank lending norms, reducing risk weight on microfinance loans. Banks are likely to prioritise top-rated NBFCs before expanding credit

RBI asks lenders to widen scope of reporting offshore swap trades

Reserve Bank of India has requested foreign banks operating in India to report details of all offshore trades involving rupee interest rate products

Rupee sees worst fall in 2 weeks to close at 87.34 against US dollar

The Indian unit was the worst-performing Asian currency on Monday. The rupee has depreciated by 4.5 per cent in the current financial year (2024-25)

RBI's rate cut outlook drives investors to bet on Indian bonds gain

After its first easing in five years last month, the Reserve Bank of India may deliver another 25 basis points cut in April, followed by at least one more reduction this year

BFSI news wrap: RBI Liquidity Boost, Dollar-Rupee Swap, Deposit Insurance Hike & More

The RBI is injecting 1.9 trillion rupees into the banking system to ease tight liquidity expected by FY25-end.

IndusInd Bank CEO gets 1-year extension, short of board's recommendation

The Reserve Bank of India (RBI) approved Kathpalia's term to be extended from March 24 this year to March 23, 2026, IndusInd said

MK Stalin, Rahul Gandhi defamation row, Stock market, RBI & more

Tamil Nadu CM M K Stalin criticised the Centre's push for Hindi under the National Education Policy, calling the mother tongue issue a “hornets’ nest”.