Page 96 - Reserve Bank Of India

Rs 2,000 notes withdrawal: Currency-in-circulation growth dips to 3.7%

The growth in currency in circulation decelerated to 3.7 per cent for the week ended February 9 from 8.2 per cent a year ago, reflecting the impact of the decision of the Reserve Bank of India (RBI) to withdraw Rs 2,000 banknotes. Currency-in-circulation (CiC) refers to notes and coins in circulation, while currency with the public comprises notes and coins in circulation minus cash with banks. According to the RBI, commercial banks have reported double-digit growth in deposits in January, which too can be attributed to withdrawal of Rs 2,000 currency notes. The growth of Reserve Money (RM), as per the RBI data, decelerated to 5.8 per cent as on February 9, 2024 from 11.2 per cent a year ago (8.8 per cent adjusted for the first-round impact of change in Cash Reserve Ratio (CRR). Components of RM include CiC, banks' deposits in RBI and other deposits with the central bank. The growth in CiC , the largest component of RM, decelerated to 3.7 per cent from 8.2 per cent a year ago, ..

Indian economy still growing below its potential, says Jayanth R Varma

Varma says if the economy is not overheating, there is no need of a high real interest rate, which can choke growth

India's forex reserves decline $5.24 bn to $617.23 bn, shows RBI data

India's forex reserves declined USD 5.24 billion to USD 617.23 billion for the week ending February 9, according to weekly data released by the Reserve Bank of India (RBI) on Friday. The forex kitty stood at USD 622.5 billion for the week ended February 2. However, in the current fiscal, the forex reserves have increased USD 50.28 billion, the RBI data showed. Foreign currency assets, which constitute the largest component of the reserves, dropped USD 4.07 billion to USD 546.52 billion during the week under review, as per the latest data. The reserves had peaked in October 2021, when kitty had reached USD 645 billion. The reserves took a hit as the central bank sold dollars to defend the rupee amid pressures caused majorly by global developments since last year. As a result, the rupee has been the best Asian currency so far this fiscal. The sharp fall in the overall reserves was due to a sharp decline in foreign currency assets, which are the single largest component of the ...

RBI allows banks, non-banks to issue PPIs to commuters for public transport

PPIs are instruments that facilitate the purchase of goods and services, financial services, remittance facilities etc, against the value stored therein

What makes Indian fintech fast and furious, but also a little fraudulent?

Know-your-customer, or KYC, regulations aren't easy anywhere. But fintech adoption in India has done more than just open the floodgates to financial inclusion

Reserve Bank bolsters oversight of fintech firms with more inspections

All the sources declined to be named as they were not authorised to speak to the media

Paytm users may take up to 6 months to shift to other service providers

Fintech giant is planning to apply for third-party application provider licence

Flows into NRI deposits up 72.7% in April-December 2023: RBI Bulletin

Non-resident external (NRE) deposits were at $97.69 billion in December 2023, up from $96.79 billion in November and $94.46 billion at the end of December 2022

Paytm Payments Bank crisis: How to deactivate Paytm FASTag and buy new one

In the recently released FAQs, the RBI suggested users procure a new FASTag issued by a bank other than Paytm Payments Bank before March 15

The new challenge on the banking turf

Raising deposits to keep pace with loan growth and keeping credit cost low top the agenda for banks

A breather for Paytm Payments Bank? What RBI's FAQs for customers indicate

The company is shifting its nodal account to Axis Bank to continue merchant settlements

Foreign exchange reserves snaps two-week gaining streak, shows RBI data

The reserves fell by $5.27 billion in the reporting week, their steepest fall in a month, after having risen by a total of $6.36 billion in the prior two weeks

P2P lending; best in spring water brands: Top personal finance stories

This week we explain how to play safe on peer-to-peer platforms; how mineral water assists your health

Reserve Bank of India restrains commercial card payments by a network

The RBI has clarified that business credit cards will continue to function as usual

Banking laws and regulatory shake-ups

Regulatory action against Paytm's payments bank points to the need for reform of banking regulation

Green capital flows into emerging mkts must be bolstered: RBI governor

Vigilant in navigating final stretch of disinflation: Das

ED starts preliminary probe into Paytm Payments Bank after RBI's decision

That comes two weeks after the country's central bank ordered Paytm's banking affiliate to wind down

Black and white

India must build on improved macroeconomic stability

RBI slams microfinance institutions for charging higher rates to borrowers

In 2021, the RBI had given full freedom to entities on interest rates to be charged for microloans by lifting the interest rate cap of 24 per cent put earlier

Non-executive directors' remuneration cap increased to Rs 30 lakh: RBI

The notification further stated that the banks are required to have suitable criteria for granting fixed remuneration to their NEDs, with the approval of their Board before any review of remuneration