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RBI News

26 Mar 2023

Paytm Gets 15-Day Extension To Apply For Online Payment Aggregator Permit

The Reserve Bank of India in November rejected its application for a payment aggregator (PA) licence for Paytm Payments Services Limited.

26 Mar 2023

RBI May Hike 25 bps Interest Rate In Next MPC, Says Expert

RBI has been raising benchmark rates since May 2022 to contain inflation which has been largely driven by external factors.

21 Mar 2023

Unlike Global Economy, India Would Not Slow Down: RBI Article

The NSO's end-February data release indicates that the Indian economy is intrinsically better positioned than many parts of the world: RBI article

21 Mar 2023

Rs 2,000 Notes In ATMs: FM Sitharaman Says No Instructions Given To Banks

As per Annual Reports of the Reserve Bank of India (RBI), the total value of Rs 500 and Rs 2,000 denomination bank notes in circulation as at end-March 2017 and as at March-end 2022 was Rs 9.512 lakh crore and Rs 27.057 lakh crore.

21 Mar 2023

BoB Customers Alert! Your A/C Will Be Deactivated If You Fail To Do THIS

Know what is Central KYC Registry and where Bank of Baroda customers can get it done.

20 Mar 2023

RBI Imposes Rs 2.27 Cr Penalty On RBL Bank

Meanwhile, the central bank has also imposed penalties on several cooperative banks for contravention of its different norms.

Retail inflation

13 Mar 2023

Retail Inflation Dips Marginally To 6.44% In Feb

The Reserve Bank has projected retail inflation at 6.5 percent for 2022-23, with the January-December quarter at 5.7 percent.

12 Mar 2023

Inflation Expected To Come Down Over The Year: RBI MPC Member Ashima Goyal

"Inflation rates are expected to come down over the year," RBI MPC Member Ashima Goyal told PTI in a telephonic interview.

05 Mar 2023

RBI Likely To Settle For 25 Basis Points Repo Rate Hike: Experts

Since May last year, the Reserve Bank has increased the short-term lending rate by 225 basis points to contain inflation, mostly driven by external factors, especially global supply chain disruption following the Russia-Ukraine war outbreak.

03 Mar 2023

RBI Imposes Rs 3.06 Crore Penalty On Amazon Pay (India) For Violation Of Norms

The RBI had issued a notice to Amazon Pay (India) advising it to show cause as to why penalty should not be imposed for non-compliance with the directions.

28 Feb 2023

India's GDP Growth Gets Slow in December Quarter With 4.4%, Down From 6.3%

India's economic growth slowed further in the December quarter. Asia's third largest economy recorded year-on-year growth of 4.4% in October-December, down from 6.3% in July-September. India's manufacturing sector shrank by 1.1% year-on-year in the quarter.

24 Feb 2023

ICICI Bank Hikes Interest Rate On FDs From Feb 24; Check Latest Rates Here

ICICI Bank hikes interest rates on FDs between Rs 2 cr to Rs 5 cr. The new rates will be effective from February 24, 2023, according to the official website of ICICI Bank. ICICI Bank earlier increased the interest rate for fixed deposits below Rs 2 crore.

21 Feb 2023

PM Modi, Singapore Counterpart Witness Launch of Payment Interface Linkage

The UPI-PayNow linkage will enable users of the two fast payment systems in either country to make convenient, safe, instant, and cost-effective cross-border funds transfers using their respective mobile apps.

India-Singapore payment system

21 Feb 2023

UPI-PayNow Integration: India & Singapore Link Payment Systems, What is it?

India-Singapore links their respective real-time payment systems to facilitate transfer of funds for trade, travel and remittances easier. India's UPI and Singapore's PayNow are real-time and round-the-clock payment systems. PM Narendra Modi, Singapore PM and RBI Governor launched the cross-border payment between two countries in virtual event.

16 Feb 2023

Interest Rate Hike Cycle in Asia Nearing its End: Morgan Stanley

In India too, the Monetary Policy Committee (MPC) of the RBI decided to raise the repo rate, the rate at which the RBI lends money to all commercial banks, by 25 basis points to 6.5 per cent. Since May last year, the RBI has increased the short-term lending rate by 250 basis points to contain inflation.

11 Feb 2023

Unlike Other Lenders, Canara Bank Cuts Lending Rate by 15% Amid Repo Rate Hike

Reserve Bank of India (RBI) hiked the repo rate the sixth time to 6.50% in the February 6-8 Monetary Policy Committee meeting to rein high inflation.

08 Feb 2023

RBI Digital Rupee: E-Rupee to be Piloted by 5 More Banks in 9 More Cities Soon

The CBDC is expected to make the inter-bank market more efficient and settlements in e-rupee can reduce transaction costs by pre-empting the need for settlement guarantee infrastructure or for collateral to mitigate settlement risk.

RBI monetary policy 2023

08 Feb 2023

RBI Monetary Policy 2023: Realty Sector Expects Pressure on Sales Volumes

RBI hikes Repo rate by 25 bps to 6.50% on Wednesday. Realty sector expects increase in pressure in affordable and mid-housing segment.

RBI monetary policy 2023

08 Feb 2023

RBI to Extend UPI Facility for Retail Payments to Inbound Travellers in India

RBI proposes UPI facility for inbound travellers in India. Initially, the facility will be available for travellers from G-20 countries. UPI is a popular payment app in India, which allows transferring of money from one account to another very easily with the help of mobile number.

RBI monetary policy 2023

08 Feb 2023

RBI Projects Inflation to Fall to 5.3% in FY24

RBI projected retail inflation to ease to 5.3% in the next fiscal. Retail inflation is improved to 6.5 percent for the current fiscal. Core inflation, however, remains sticky: RBI.

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