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Reserve Bank Of India

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 November 3, 2021) by the US Federal Reserve (Fed) on Indian financial...

17 July 2022

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 improve mutual cooperation


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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


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 cent of the total payments in 2020-21, the article said citing an...

17 July 2022

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


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' Statement of Position in India as on July 1, 2022, released on Thursday

14 July 2022

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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 Policy Committee (MPC) and also heads the key monetary policy...

17 July 2022

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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 both formats – financial information user and financial provider

14 July 2022

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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


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...


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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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30 June 2022
Economy On Recovery Path; Inflationary Pressure, Geopolitical Risks Warrant Careful Handling Of Situation: RBI

Economy On Recovery Path; Inflationary Pressure, Geopolitical Risks Warrant Careful Handling Of Situation: RBI

The RBI's 25th Financial Stability Report (FSR) also said banks as well as non-banking financial institutions have sufficient capital buffers to withstand...


25 June 2022
Net Profits Of Manufacturing Companies Surged By 50% In FY'22: RBI

Net Profits Of Manufacturing Companies Surged By 50% In FY'22: RBI

Net profit also increased for the information technology (IT) companies, whereas the non-IT services sector continued to record losses at the aggregate level,...


24 June 2022
Under Industry Pressure, RBI Extends Card Tokenisation Deadline Till Sep 30, 2022

Under Industry Pressure, RBI Extends Card Tokenisation Deadline Till Sep 30, 2022

The central bank had earlier directed the merchants to implement its tokenisation norms by June 30, 2022. 


24 June 2022
Card Tokenization: Most Large Merchants Complying With Norms As Deadline Nears

Card Tokenization: Most Large Merchants Complying With Norms As Deadline Nears

The RBI had directed the merchants to implement its tokenization norms by June 30, 2022. The central bank has twice extended the deadline of its implementation...


24 June 2022
RBI Monetary Policy Actions Likely To Be More Moderate Than Other Nations: Deputy Governor Patra

RBI Monetary Policy Actions Likely To Be More Moderate Than Other Nations: Deputy Governor Patra

The Reserve Bank has already raised the key policy rate by 90 basis points in May and June to 4.9 per cent to tame high inflation, mainly due to supply...


23 June 2022
Current Account Slips Into Deficit, At 1.2% In FY22 On Wider Trade Gap

Current Account Slips Into Deficit, At 1.2% In FY22 On Wider Trade Gap

In absolute terms, the deficit for FY22 came at $38.7 billion as against a surplus of $24 billion in the year-ago period, data released by the RBI showed


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