Reserve Bank Of India

Veteran State Bank of India banker Arijit Basu to chair IndusInd Bank

Basu resigned on Friday as chairman of HDB Financial Services, the non-banking financial arm of HDFC Bank

States' consolidated gross fiscal deficit tops 3% in FY24 after 3 yrs: RBI

States' fiscal deficit crosses 3% of GDP in FY24 after 3 years; capital spending rises as liabilities remain manageable, says RBI report

Foreign exchange reserves rise $14 bn, highest weekly increase in 10 months

At $701 billion, reserves at 13-week high; shy of all-time high of $705 billion

Banks raise Rs 89.5k crore via CDs in December fortnight, rates surge

Banks raised Rs 88,512 crore through certificates of deposit in the last fortnight of December as deposit growth lagged credit growth, pushing short-term borrowing rates above 7 per cent

Razorpay POS secures RBI nod for offline payment aggregator licence

Fintech major Razorpay's offline payments arm, Razorpay POS, on Thursday said it has secured licence from the Reserve Bank of India (RBI) to act as an offline payment aggregator. With this authorisation, Razorpay now holds all three key RBI licences-online payment aggregator, cross-border payment aggregator (secured in December 2025), and offline payment aggregator, according to a company statement. The PA-P licence will allow Razorpay POS to further scale its in-store payment infrastructure, supporting high-volume transactions for diverse sectors ranging from large retail chains to Small and Medium Enterprises (SMEs). "For us, regulation isn't an afterthought; it's core to how we build. Securing the RBI's Offline Payment Aggregator License further strengthens our ability to support businesses with scalable, compliant in-store payments as they expand their omnichannel presence," Razorpay MD and Co-founder Shashank Kumar said. The company, which entered the offline space following t

RBI taps over $2 bn FX swaps to ease liquidity amid rupee pressure: Bankers

Spot intervention ​drains rupee liquidity, an effect the RBI can counter through dollar/rupee buy-sell FX swaps, in which the first leg is settled at the spot date and the second at a future date

Net FDI negative for 3rd straight month in Nov due to high repatriation

Net FDI in April-Nov period grows 7x to $5.6 billion compared to same period last year

Current state of economy provides ground for optimism: RBI bulletin

The current state of the economy provides ground for optimism going forward and India will remain the fastest growing major economy, notwithstanding elevated geopolitical risks and policy uncertainty ahead, a Reserve Bank bulletin said on Wednesday. The year 2026 began with an escalation of geopolitical tensions, marked by developments such as the US intervention in Venezuela, the simmering conflict in the Middle East, ambiguity surrounding the RussiaUkraine peace deal, and escalation of the row over Greenland, all of which point to still-elevated geo-economic risks and policy uncertainty ahead, it said. "Even amidst these global uncertainties, the current state of the economy provides ground for optimism going forward. The GDP growth estimates for 2025-26 indicate that India will remain the fastest growing major economy in the world," said an article published in the January bulletin. Global growth remained resilient in 2025 despite heightened uncertainties. Though elevated, global

RBI approves appointment of Bharucha as whole-time director in HDFC Bank

HDFC Bank on Tuesday said that the RBI has approved the appointment of Kaizad Bharucha as a whole-time director on the bank's board. In a regulatory filing, HDFC Bank said, "The RBI, vide its communication dated January 20, 2026, has given approval for the re-appointment of Mr. Kaizad Bharucha as the Whole-time Director (Deputy Managing Director) of the Bank for a further period of 3 (three) years w.e.f. April 19, 2026." Shares of HDFC Bank closed at Rs 931.15, up 0.38 per cent over the previous close on BSE.

Rupee avoids new low as RBI steps in to control excess volatility

The rupee fell up to 91.06 per dollar during the day, near the record low of 91.08 per dollar

RBI needs to ramp up bond purchases as rate cuts fail to cool yields

The benchmark 10-year yield on Monday surged back to nearly the same level seen before the RBI began cutting rates early last year

RBI Guv calls for tighter governance, asset oversight in urban co-op banks

Reserve Bank Governor Sanjay Malhotra on Monday emphasised the importance of maintaining high standards of governance and diligent oversight over asset quality during his meeting with top officials of select Urban Cooperative Banks (UCBs). As part of the Reserve Bank of India's continued engagement with regulated entities, the Governor held a meeting with the Chairpersons and Managing Directors & Chief Executive Officers (MDs & CEOs) of select UCBs. In his remarks, Malhotra highlighted the continued relevance of UCBs in credit delivery particularly to the underserved areas and in expanding financial inclusion, RBI said in a statement. He also briefly touched upon the various policy initiatives that have been undertaken by Reserve Bank relating to the co-operative banking sector since the previous interaction, and exuded confidence that these enablers will help the sector become stronger and grow in a healthy manner. He underscored the importance of maintaining high standards ..

Govt announces interest subvention scheme for export credit under EPM

RBI notifies interest subvention scheme Niryat Prothsahan, directing banks to extend subsidised pre- and post-shipment export credit under EPM

Budget should back R&D, create long-term funding institution: MPC member

RBI Monetary Policy Committee member Nagesh Kumar on Monday said the government should provide policy incentives to promote R&D activities and create an institutional fund to ensure long-term capital for the industry in the forthcoming Budget. Finance Minister Nirmala Sitharaman will present the Union Budget for 2026-27 on February 1. "For boosting the manufacturing-led growth, the Union Budget 2026-17 should consider some policy incentives for promoting in-house R&D activity of Indian companies, given its role in strengthening their productivity and competitiveness," Kumar told PTI in an interview. He said Research, Development and Innovation (RDI) and Anusandhan National Research Foundation (ANRF) are important measures adopted in recent times. "But they need to be complemented by incentives for corporate R&D activity," he said, adding that restoring the 200 per cent weighted tax deduction for R&D expenditure could be one such policy. According to Kumar, another ...

RBI proposes linking Brics' digital currencies to cut reliance on US dollar

India will host the summit, which will be held later this year. If the recommendation is accepted, a proposal to link the digital currencies of Brics members would be put forward for the first time

SBI terminates GMU Kolkata lease; civil society urges RBI to intervene

The State Bank of India has terminated the lease for its Global Markets Unit (GMU) premises in Kolkata, a move that has drawn objections from a civil society forum, which has urged the Reserve Bank of India (RBI) to intervene and stop any closure of the unit without regulatory approval. An SBI notice dated January 14, 2026, issued to a vendor, stated that the bank is terminating the lease for the 11th to 16th floors of the Jeevan Sudha Building on Jawaharlal Nehru Road in central Kolkata, which housed the foreign exchange and global markets unit. The notice provides a one-month period to vacate, signalling the bank's intent to leave the premises as part of its plan to consolidate treasury and forex operations in Mumbai. The bank used to operate its GMU and some international operations from Jeevan Sudha Building. However, the bank has a massive building, Samriddhi Bhavan, located at 1, Strand Road on the banks of the Hooghly, which serves as a major hub housing several SBI ...

Sebi, RBI working closely on bond derivatives: Tuhin Kanta Pandey

Sebi and RBI are working to introduce bond derivatives to deepen liquidity as the regulator pushes reforms to boost retail participation and strengthen India's bond market

RBI to set up central complaints processing centre under Ombudsman Scheme

Complaints filed online will be registered on the RBI's Complaint Management System portal, while those received through email or post will be processed centrally by the CRPC

RBI mandates auto transfer of unresolved plaints to internal ombudsman

The RBI has directed banks and eligible NBFCs to automatically escalate partially resolved or rejected complaints to the internal ombudsman and convey final decisions within 30 days

Japan's SMBC gets RBI's in-principle nod for wholly owned arm in India

The in-principle approval allowed the bank to set up the wholly owned subsidiary through the conversion of its existing branches in the country