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RBI injects Rs 1.5 trillion into economy: Markets rebound; what it means for you

The Indian stock market bounced back today, on January 28 after hitting a 7-month low in yesterday’s session.

RBI's Rs 1.5 trillion liquidity booster raises Feb rate cut hopes

RBI announces OMOs, VRR auction, $-rupee buy-sell swap

Reserve Bank of India tightens vigil on P2P lending after revising rules

Seeks qualitative details about lenders' operations

Credit cards more than double in 5 years, debit cards stable: RBI report

The number of credit cards has more than doubled to around 10.80 crore in five years through December 2019 but the number of debit cards has remained relatively stable, says a Reserve Bank report released on Monday. The report also said digital payments in India have grown exponentially in the last decade. While in calendar year (CY)-2013 there were 222 crore digital transactions valued at Rs 772 lakh crore, it has increased 94 times in volume and more than 3.5 times in value to over 20,787 crore transactions valued at Rs 2,758 lakh crore in CY-2024. "In the last five years alone, digital payments in India have increased 6.7 times in volume and 1.6 times in value. This amounts to a five-year CAGR of 45.9 per cent in terms of digital payments volume and 10.2 per cent in terms of digital payments value," said the Payment System Report, December 2024. It further said at end-December 2024, the number of credit cards has more than doubled to around 10.80 crore as compared to December 201

RBI Governor Sanjay Malhotra flags rising issue of digital frauds

Asks banks to suggest steps for enhancing ease of doing business

RBI supersedes Aviom India Housing Finance's board, appoints administrator

The regulator said it "intends to shortly" initiate the process of resolution of the company under the Insolvency and Bankruptcy Code (IBC)

RBI announces slew of measures to inject liquidity to banking system

The central bank will conduct Open Market Operation purchase auctions of government securities worth Rs 600 bn ($6.96 bn) in three tranches and hold a 56-day variable rate repo auction for Rs 500 bn

RBI supersedes board of Aviom India Housing Finance on governance concerns

Aviom India Housing Finance caters to low-income households in semi-urban areas and provides loans to women borrowers who do not have any formal income documentation

MSME industry bodies seek RBI support for easier priority sector lending

The official further said that the RBI only partially restored this classification to the extent of Rs. 20 lakh per borrower. Hence, NBFCs funding to MSEs is now restricted

Reserve Bank of India ombudsman resolves 95% of complaints in FY24

Complaints rise 32 per cent in FY24

Rate cut alone may not boost growth, economists tell RBI top brass

Say durable liquidity infusion needed to reinvigorate economy; bank CEOs to meet RBI officials today

RBI fines J&K Bank, BoI, Canara Bank for gaps in regulatory compliance

The Reserve Bank on Friday said it has penalised Jammu and Kashmir Bank, Bank of India, and Canara Bank for deficiencies in regulatory compliance. Jammu and Kashmir Bank has been penalised Rs 3.31 crore for contravention of certain norms related to financial inclusion - access to banking Services - Basic Savings Bank Deposit Account (BSBDA)', Know Your Customer' and Loans and Advances - Statutory and Other Restrictions'. In another release, the RBI said Rs 1 crore penalty has been imposed on the Bank of India for non-compliance with certain provisions of the Banking Regulation Act, 1949. A penalty of Rs 1.63 crore has been imposed on public sector Canara Bank for non-compliance with certain directions on priority sector lending, the interest rate on deposits and financial inclusion - access to banking services - BSBDA', the RBI said. Also, a penalty of Rs 1 lakh has been imposed on Datson Exports, West Bengal for non-compliance with certain directions issued by the RBI on Managing

Forex reserves decline by $1.88 bn to $623.983 bn, shows RBI data

India's forex reserves dropped by USD 1.88 billion to USD 623.983 billion in the week ended January 17, the RBI said on Friday. Earlier, the overall kitty declined by USD 8.714 billion to USD 625.871 billion in the week ended January 10, the Reserve Bank of India said. The reserves have been on a declining trend for the last few weeks, and the drop has been attributed to revaluation along with forex market interventions by RBI to help reduce volatilities in the rupee. The forex reserves had increased to an all-time high of USD 704.885 billion in end-September. For the week ended January 17, foreign currency assets, a major component of the reserves, decreased by USD 2.878 billion to USD 533.133 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. Gold reserves increased by USD 1.063 million to USD 68.

RBI asks banks to use tool that identifies phone numbers to curb fraud

Regulator asks financial institutions to use special number series for promotional voice calls

RBI directs banks to assess impact of new LCR norms on liquidity, lending

The RBI has asked banks to assess the impact of stricter liquidity coverage ratio norms, aimed at system stability but raising concerns over reduced lending capacity

RBI expected to transfer another bumper payout to govt, say analysts

The RBI makes an annual payout to the government from the surplus income it earns on investments and valuation changes on its dollar holdings

RBI to conduct overnight VRR auction worth Rs 2 trillion on Friday

The liquidity deficit stood at Rs 2.87 trillion on Wednesday, according to the latest data from the RBI

MFIN dismisses reports about alleged harassment by microfinance firms

The Microfinance Industry Network (MFIN) on Thursday dismissed reports about alleged harassment by microfinance companies in the state, claiming that a small section of "ill-informed" individuals with the aid of unauthorised entities were indulging in "unscrupulous" rumourmongering. Recently, various organisations also staged protests in different parts of the state condemning the atrocities and oppression carried out by microfinance companies and demanded action against them. "The recent reports of protests against MFIs are from a small section of "ill-informed" individuals with the aid of unauthorised entities, indulging in unscrupulous rumourmongering," Rama Kamaraju, Head, State Initiatives, MFIN said in a press conference here. The MFIN is a Self-Regulatory Organisation recognised by RBI and the Association of Karnataka Microfinance Institutions. "We wish to assure you all that we follow a very well calibrated advisory approach and have our eye on the ball at all times," he ..

Rupee's fall due to dollar's rise, RBI intervention can harm exports: Rajan

Attributing the fall in Indian rupee solely to the US dollar getting stronger, former Reserve Bank governor Raghuram Rajan has said any intervention by the RBI on this can end up harming Indian exports even as he urged policymakers to focus on creating more jobs and boosting household consumption. Asked what the second term of US President Donald Trump means for the global and Indian economy, Rajan said, "I think it means uncertainty. President Trump during his campaign laid out a bunch of policies and measures that he wants to implement.". "We are seeing some of them being implemented. We have to see how intensely, for example the policy on immigration and trade and tariff proposals against whom and against which sectors are implemented. As of now what and how all this will pan out," the eminent economist said. On appreciation in the US dollar and its impact on other currencies especially in emerging markets including rupee, Rajan said the dollar has been appreciating against other

NDA 3.0 must use political capital for structural reforms: D Subbarao

The NDA 3.0 government must use its enormous political capital to implement 'politically difficult' structural reforms in the upcoming budget to promote growth and job creation, former RBI Governor D Subbarao said on Thursday. The Union Budget for 2025-26, to be presented by Finance Minister Nirmala Sitharaman on February 1, comes amid global economic uncertainties and moderating domestic growth. "This is the first full budget of the NDA-III government and it must use its enormous political capital to implement politically difficult structural reforms," Subbarao told PTI in an interview. Further, he said that the primary objective of the budget is to put the economy on a sustainable high-growth trajectory. "But mere growth will not do. We need to ensure that the benefits of growth are widely shared which is to say that we need to focus on reducing inequality," Subbarao added. According to him, the huge consumption base of the bottom half of India's population is its biggest growth