Reserve Bank of India News
India Inc has begun to feel the adverse impact of RBI's interest rate hikes of 190 basis points in the current financial year. Industry body CII said on Sunday that it urged the central bank to consider moderating the pace of its monetary tightening ahead of the forthcoming policy. CII's analysis of results of 2,000-odd companies in the second quarter shows that both the top-line and bottom-line has moderated on sequential and annual basis.
The bank official was posted with RBI and was dismissed for financial irregularities. The high court said a bank employee or officer must perform one's duty with absolute devotion, diligence, integrity and honesty. The court said the allegations levelled against the petitioner are serious in nature.
RBI rolled out the first pilot in the Digital Rupee, or e-rupee, in the wholesale segment for government securities on November 1. The RBI said that it will follow up on the wholesale e-rupee pilot with a similar trial on the retail side this month itself. The RBI has termed the launch of the central bank digital currency (CBDC) as a landmark moment in the history of currencies in the country.
Reserve Bank of India today cancelled the licence of Pune-based The Seva Vikas Co-operative Bank Ltd RBI said that the bank does not have adequate capital and earning prospects. The central bank said that the bank ceases to carry on banking business, with effect from the close of business on October 10, 2022