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Phased Implementation Of Digital Currency For Wholesale, Retail Segments At Works: RBI Official

Phased Implementation Of Digital Currency For Wholesale, Retail Segments At Works: RBI Official

The introduction of CBDC was announced in the Union Budget 2022-23, by Finance Minister Nirmala Sitharaman and necessary amendments to the relevant section of the RBI Act,

20 July 2022
Will Slice get RBI Approval To Issue Credit Cards?

Will Slice get RBI Approval To Issue Credit Cards?

Getting the regulator's permission will be an uphill task after it recently prohibited fintech companies from loading credit lines onto prepaid payment...

20 July 2022

US Surpasses UAE To Become Top Remittance Source For India; Gulf Region’s Share Falls

Remittances from the UAE now account for 17-18 per cent of India’s total inward remittances, the RBI said in an article on the impact of COVID on remittances

Govt, RBI Measures Help Banks Recover Bad Loans Worth Over Rs 8.6 Lakh Crore In Last 8 Fiscal

Govt, RBI Measures Help Banks Recover Bad Loans Worth Over Rs 8.6 Lakh Crore In Last 8 Fiscal

Minister of State for Finance Bhagwat Karad in a written reply to the Lok Sabha said the occurrence of non-performing assets (NPAs) is normal, although an...

18 July 2022

FM Nirmala Sitharaman Seeks Global Collaboration To Implement RBIs Recommendation For Crypto Ban

While speaking in the Parliament today, the FM also claimed that cryptocurrencies are not a currency since they are not issued by a country's Central Bank or...

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18 July 2022
Slice's Fundraising Hits Roadblock Following RBI Directive About PPIs Loading Credit Lines

Slice's Fundraising Hits Roadblock Following RBI Directive About PPIs Loading Credit Lines

After entering the unicorn club last year, the fintech was trying to raise an additional $50 million through a new funding round


17 July 2022
Muted Impact Of Fed's Taper 2 On India Due To Strong External Position: RBI Article

Muted Impact Of Fed's Taper 2 On India Due To Strong External Position: RBI Article

The article published in the Reserve Bank of India's (RBI) monthly bulletin for July compared the impact of the two taper announcements (May 22, 2013, and...


17 July 2022
Remittances From Gulf Countries Dropped Sharply In FY21 Due To Covid-19: RBI Article

Remittances From Gulf Countries Dropped Sharply In FY21 Due To Covid-19: RBI Article

On the other hand, advanced economies like the US, the UK and Singapore emerged as important sources for the country for remittances, accounting for 36 per...


17 July 2022
Front-loading Monetary Policy Action Can Anchor Inflation Expectations: RBI Paper

Front-loading Monetary Policy Action Can Anchor Inflation Expectations: RBI Paper

The paper has been authored by three RBI analysts, including Deputy Governor Michael Debabrata Patra who is a member of the rating setting panel Monetary...


16 July 2022
RBI, Bank Indonesia Agree To Expand Cooperation In Payment Systems

RBI, Bank Indonesia Agree To Expand Cooperation In Payment Systems

The two central banks signed a Memorandum of Understanding (MoU) in Bali on the sidelines of the G20 Finance Ministers and Central Bank Governors Meeting to...


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15 July 2022
Bank Of India With PFRDA Launches Platform For Opening NPS Account Via Mobile Phone

Bank Of India With PFRDA Launches Platform For Opening NPS Account Via Mobile Phone

The Pension Fund Regulatory and Development Authority (PFRDA) and Bank of India launched the digital platform for NPS enrolment in association with K-fintech


15 July 2022
Why Are Global Rating Agencies Downgrading India’s GDP Growth Forecast?

Why Are Global Rating Agencies Downgrading India’s GDP Growth Forecast?

Concern regarding India’s inflation seems to be a major reason behind ratings agencies being forced to downgrade India’s GDP forecast


14 July 2022
Bank Credit Grows By 13.29%, Deposits By 9.77%

Bank Credit Grows By 13.29%, Deposits By 9.77%

In the fortnight ended June 2, 2021, bank advances stood at Rs 109.28 lakh crore and deposits at Rs 154.51 lakh crore, according to the Scheduled Banks'...


14 July 2022
PNB Joins Account Aggregator Ecosystem, Eliminates Physical Documentation For Customers

PNB Joins Account Aggregator Ecosystem, Eliminates Physical Documentation For Customers

Other banks including SBI, Canara Bank and Indian Bank have started the implementation process. However, PNB is the second public sector bank to go live in...


14 July 2022
Wholesale Inflation Eases To 15.18% In June From Record High in May

Wholesale Inflation Eases To 15.18% In June From Record High in May

The WPI inflation in June has bucked the three-month rising trend but remained in the double digits for the 15th consecutive month beginning April last year


12 July 2022
RBI Imposes Penalty Of Rs 1.7 Crore On Ola Financial Services

RBI Imposes Penalty Of Rs 1.7 Crore On Ola Financial Services

The penalty has been imposed in exercise of powers vested in RBI under Section 30 of the Payment and Settlement Systems Act, 2007


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08 July 2022
Finance Ministry Pegs Dollar Value At Rs 79.90 For Computing Import Duty

Finance Ministry Pegs Dollar Value At Rs 79.90 For Computing Import Duty

The sharp revision is due to depreciation of rupee against dollar following outflow of capital caused by various external factors, including the hardening of...


07 July 2022
RBI Measures To Have Positive Impact On Foreign Fund Inflows: DEA Secretary

RBI Measures To Have Positive Impact On Foreign Fund Inflows: DEA Secretary

Economic Affairs Secretary Ajay Seth said RBI measures, including on External Commercial Borrowing (ECB), are transitory and for shorter duration, and would...


07 July 2022
RBI Measures Should Help Rupee Outperform Peers In Emerging Markets: Experts

RBI Measures Should Help Rupee Outperform Peers In Emerging Markets: Experts

RBI said it has been closely and continuously monitoring the liquidity conditions in the forex market and has stepped in as needed in all its segments to...


05 July 2022
Balancing Financial Stability In A High-Interest Environment – A Big Task For The Banking Regulator

Balancing Financial Stability In A High-Interest Environment – A Big Task For The Banking Regulator

The Ukraine crisis has aggravated the already existing supply chain problems, resulting in a spiralling increase in commodity prices globally. Inflation is...


05 July 2022
RBI Gives Green Signal To HDFC, HDFC Bank Merger Proposal

RBI Gives Green Signal To HDFC, HDFC Bank Merger Proposal

Touted as the biggest transaction in India's corporate history, HDFC Bank on April 4 agreed to take over the biggest domestic mortgage lender in a deal valued...


02 July 2022
India A ‘Strong Leader’ in 25 Banking Benchmarks Among 20 Nations, Says RBI Report

India A ‘Strong Leader’ in 25 Banking Benchmarks Among 20 Nations, Says RBI Report

The country showcased rapid growth in digital payments in two aspects of value payment and fast payment systems


01 July 2022
Big Tech Firms Offering Financial Services Pose Risk To Financial Stability: RBI

Big Tech Firms Offering Financial Services Pose Risk To Financial Stability: RBI

Big techs can scale up rapidly and pose risk to financial stability, which can arise from increased disintermediation of incumbent institutions, it noted


30 June 2022
CBI Registers Case Against Imposters Posing As PMO Officials

CBI Registers Case Against Imposters Posing As PMO Officials

CBI (Central Bureau of Investigation) has taken over the investigation to look into the three complaints filed by the PMO.


30 June 2022
Cryptocurrencies Are ‘Clear Danger’: RBI Governor

Cryptocurrencies Are ‘Clear Danger’: RBI Governor

The government is in the process of finalising a consultation paper on cryptocurrencies after gathering inputs from various stakeholders and institutions


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