Page 113 - Reserve Bank Of India

Retaining retail inflation at 4% an unaccomplished dream since 2019-20

The target was achieved in the first two and a half years of implementing inflation targeting in Oct 2016, but the inflation rate remained above the goal

A first in 10 yrs: Currency flow drops in H1 due to Rs 2k note withdrawal

Of the Rs 2000 bank note that was returned, only 13% was exchanged and remained deposited in bank account

MPC in no rush to change benchmark rate, stance: Business Standard poll

Some expect upward revision in FY24 inflation forecast

RBI extends last date for exchanging Rs 2,000 bank notes to Oct 7

RBI says 96% of the Rs 2,000 banknotes in circulation as on May 19, 2023, has since been returned

Banks to continue accepting Rs 2,000 note till October 7, says RBI

From October 8 only RBI Issue Offices to accept the notes

Govt hikes interest rate on 5-year recurring deposit scheme to 6.7%

Small savings schemes are government-backed investment options that offer guaranteed returns. The interest rates on small savings schemes are reviewed every quarter

IFC gets approval from RBI to raise stake in Federal Bank to 9.7%

IFC currently holds a 1.34 per cent stake in the bank

In talks with more countries to make impact on cross-border payment: RBI DG

Reserve Bank Deputy Governor T Rabi Sankar on Friday said the high cost of remittances for countries despite the available technology was unconscionable, and India is in talks with more jurisdictions to make a material impact on cross-border payments. Sankar, during a virtual address at the BCC&I Indo-Pacific Economic Conclave, said according to World Bank research, global cross-border remittance in 2022 was estimated to be USD 830 billion, and India was the top recipient. As per the World Bank's remittance prices worldwide database, the global average cost of a retail size of remittance (retail size - USD 200) was 6.2 per cent in the fourth quarter of 2022. For some countries, this cost can be as high as 8 per cent. Such a high cost in today's context, when data connectivity is so cheap, is simply unconscionable. I believe that given the available technology, the present situation is not sustainable, he said. The top RBI official said India has been making efforts to tackle the ..

Banks considering rating framework to assess risk profile of startups

The plan to set up this mechanism has come up at a time when the government has asked banks to play a more active role in financing startups

Current account deficit widens to 1.1% of GDP in June qtr at $9.2 bn

RBI says widening due to higher trade deficit, lower surplus in net services and decline in private transfer receipts

India overnight rates ease but volumes plunge amid holiday change

Traders said these volumes were likely at multi-year lows

Current account deficit widens to 1.1% of GDP during Q1FY24: RBI

The deficit was $17.9 billion, or 2.1% of GDP, in the first quarter a year ago, the Reserve Bank of India's release showed

Festivities, polls prompt govt to keep tabs on food price movement

Global prices for Indian basket of crude averaged o $93.03 a barrel till 26th of this month against $86.43 in the previous month and $80.37 in July

Residential sales in India poised to breach decadal high this year: CBRE

Led by demand for homes priced between Rs 1 crore and Rs 1.5 crore, the sale of 300,000 units this year is expected to be much higher than the five-year average of 187,000 units

India to hold top spot for growth but risks to downside remain: Poll

Forecasts for this fiscal year ranged widely from 4.6 per cent to 7.1 per cent

RBI clears K N Madhusoodanan as part-time chairman of Dhanlaxmi Bank

Madhusoodanan has been an independent director with the bank since 2022

Centre introduces 50-year bond to meet life insurance companies' demand

Increases issuances in longer tenure in second half

Banking liquidity remains in deficit after I-CRR disbursement's 2nd tranche

RBI had decided on September 8 to discontinue the I-CRR by October 7, in a phased manner

Indians have 5 days to deposit $3 billion in soon-to-be-withdrawn banknotes

In its withdrawal notice, the RBI said the notes had served their purpose and were not commonly in use. It also cited its "clean note policy" to replace soiled notes within four to five years

Household savings report: There is no distress, says finance ministry

The clarification comes in the backdrop of Reserve Bank of India data showing that household net financial savings rate is at its lowest in decades