Page 92 - Reserve Bank Of India

Growing fast, fintech needs a way to keep watch on itself

Global banking generated $6.5 trn as revenue in 2022: Fintech had 5% of the same. But by 2028, fintech revenues are expected to grow three times faster

How the RBI is minting a new nationwide currency logistics framework

RBI issues, manages currency through 19 offices, currency chests, small coin depots

RBI conducts 3 VRR auctions in a day as overnight rates go past MSF rate

The weighted average money market rate closed at 6.77 per cent on Friday, compared to 6.73 per cent on Thursday. The MSF rate currently stands at 6.75 per cent

Amid record forex reserves, rupee hits new closing low of Rs 83.43

RBI intervention not seen; Delivery of $/Re swap boosts reserves

RBI offices, bank branches for govt biz to stay open on Mar 30& 31

Special clearing operations for cheques

India's forex kitty rises by $6.40 billion to $642.50 billion: RBI data

India's forex reserves increased by USD 6.396 billion to USD 642.492 billion for the week ended March 15, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had risen by USD 10.47 billion to USD 636.095 billion. In October 2021, the country's forex kitty had reached an all-time high of USD 645 billion. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year. For the week ended March 15, the foreign currency assets, a major component of the reserves, increased by USD 6.034 billion to USD 568.386 billion, the data 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 425 million to USD 51.14 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by USD 65

RBI offices dealing with govt business to remain open on March 30, 31

RBI offices dealing with government business and all designated branches of agency banks will keep their counters open as per normal working hours on Saturday and Sunday for the convenience of taxpayers. Electronic transactions can be done till the stipulated time on both days (March 30 and March 31), the Reserve Bank said in a statement on special measures for the current financial year (2023-24), in wake of annual closing of government accounts. "Transactions through National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) System will continue up to 2400 hours as hitherto on March 31, 2024," it said with a view to provide greater convenience to taxpayers. In order to facilitate government receipts and payments, necessary arrangements have also been made to conduct special clearing operations across the country, it added. "Special clearing will be conducted for government cheques both on March 30 and 31, 2024. Agency banks are hereby advised that all cheques

Cibil score: How it tracks your credit history, how to improve your record

Reserve Bank of India has mandated all banks to check customers' credit scores for loan or credit card applications.

SROs must promote a culture of compliance among members, says RBI

The membership criteria of the SRO would be as prescribed by RBI at the time of inviting the application for each category/class of REs

Consumers may struggle in disputes with digital platforms: RBI dy governor

Platforms provide 'immense benefits' but the risk of misuse and fraud increases, says Swaminathan J

Facing problems in closing your Paytm FASTag account? Here's how to do it

After the RBI's ban on PPBL from onboarding new clients and its wallet services, customers have complained of issues in closing their PPBL-linked FASTag accounts

RBI declines request to classify HDFC Ltd bonds as infrastructure bonds

HDFC bank had sought the RBI's approval to classify bonds with maturities between 7-10 years, worth around Rs 1.2 trillion, as infrastructure bonds

Loan distribution by FACE members rise by 12.2% to 24.8 mn in Q3FY24

The report added that 12 per cent of loans distributed between April and December 2023 went to women

RBI approves re-designation of Manian, Ekambaram of Kotak Mahindra Bank

Kotak Mahindra Bank had announced the reorganisation of its senior management team last month

Nabard projects Rs 2,43,093 crore credit potential for Bihar in 2024-25

The National Bank for Agriculture and Rural Development (NABARD) has projected Rs 2,43,093 crore credit potential for Bihar in 2024-25. The likely estimate has been made taking into account the Reserve Bank of India's priority sector-based guidelines, Central and state government policies and policies for sustainable agriculture and rural development. The State Focus Paper 2024-25 for Bihar, a compilation of the assessed credit flow for all 38 districts of the state was unveiled by Development Commissioner Chaitanya Prasad at NABARD's credit seminar here on Tuesday. The total credit flow under the priority sector for the year 2024-25 is estimated at Rs 2,43,093 crore. Prasad said, "There is a need for credit intensification through specific planning for each of the sub-sectors under agriculture in the state. Credit plays an important role in economic development and employment generation in the state". Chief General Manager, NABARD, Sunil Kumar said that as on March 31, 2023, "Biha

Inflation still high and focus on minimising risk, says RBI report

Indicates 'significant per capita income shifts' underway

Net FDI in India down 38.4% in April-January: RBI's March 2024 bulletin

FDI into India is expected to receive a boost from the Trade and Economic Partnership Agreement (TEPA) signed with the European Free Trade Association (EFTA) on 10 March 2024

Outward remittances under Reserve Bank of India's LRS up 27% in Apr-Jan

Overseas remittances in January 2024 stood at $2.62 billion, nearly 9 per cent higher than $2.40 billion in December 2023

Indian govt bond yield at more than two-week high as US peers jump

The rise in yields is fuelled by indications of a robust economy and elevated inflationary pressures

All that glitters is not gold for Reserve Bank & FinMin

Rightly so. Since November 1962, there have been many attempts to monetise gold. It's finally happening, but we must look for sustainable growth