Wed, Jan 01, 2025
The Reserve Bank on Wednesday said 98.12 per cent of the Rs 2000 banknotes have been returned to the banking system, and only Rs 6,691 crore worth such notes are still with the public.
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Discover how RBI’s 2025 guidelines target dormant, inactive, and zero-balance accounts to enhance banking security and reduce fraud risks in this comprehensive photo gallery. (Images: Unsplash, Pixabay)
Tue, Dec 31, 2024
The net NPA ratio was around 0.6 per cent, according to the RBI's December 2024 issue of the Financial Stability Report (FSR).
Thu, Dec 26, 2024
The Reserve Bank on Thursday announced the setting up of an eight-member committee to develop a framework for responsible and ethical enablement of artificial intelligence (FREE-AI) in the financial sector.
Tue, Dec 24, 2024
The Indian economy grew by 5.4 per cent in real terms in the July-September quarter of the current financial year 2024-25. The quarterly growth was quite lower than RBI's forecast of 7 per cent. In the April-June quarter too, India's GDP grew at a slower pace than was estimated by its central bank.
Sun, Dec 22, 2024
The RBI under former governor Shaktikanta Das resisted pressures to cut interest rates through 2024 as it kept its 'Arjuna's eye' trained on inflation, but the central bank under a new detail-oriented head will soon have to take a call if it can continue sacrificing growth.
Sat, Dec 21, 2024
Electricity distribution companies (DISCOMs) continue to weigh heavily on State finances, stated a report by the Reserve Bank of India (RBI). The report also noted that the total accumulated losses of state Discoms reached a staggering Rs 6.5 lakh crore by 2022-23, accounting for 2.4 per cent of the country's GDP.
Fri, Dec 20, 2024
After considering the reply of IndusInd Bank to the notice, additional submissions made by it, RBI said, it found, inter alia, that the charge pertaining to opening of certain savings deposit accounts in the name of ineligible entities was sustained, warranting imposition of monetary penalty.
Expressed in US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Thu, Dec 19, 2024
Several states have announced sops pertaining to farm loan waivers, free electricity to agriculture and households, free transport to a section of people, allowances to unemployed youth and monetary assistance to women.
Mon, Dec 16, 2024
Domestic wholesale inflation eased to 1.89 per cent in November from 2.36 per cent the previous month, according to official data released at noon on Monday.
Thu, Dec 12, 2024
HDFC Bank has said the matter relates to certain observations made by Sebi during its periodic inspection of investment banking activities undertaken by the bank. It has also said it will take necessary steps to address the concerns or directives mentioned in the letter dated December 9.
Rupee tumbled to an all-time low of 84.88 against the US dollar, driven by heightened demand and market uncertainty, though RBI interventions helped prevent sharper declines in the currency.
Wed, Dec 11, 2024
Forex traders said the Indian rupee touched a fresh all-time low of 86.87 in intraday trade as change of guard at the Reserve Bank of India raised odds of a rate cut by the Reserve Bank of India (RBI) in its February meeting.
Tue, Dec 10, 2024
The appointment of Sanjay Malhotra as the new RBI Governor "cements" the possibility of a rate cut at the next policy review in February, analysts said on Tuesday. Outgoing Governor Shaktikanta Das was "sticking to his guns" on rates as seen at the December 6 meeting where the rate setting panel headed by him continued with a status quo on rates, they said.
S&P Global Ratings on Tuesday said the Indian economy is set for "resilient growth" in 2025 and projected inflation pressure to recede which will lead to "modest" easing of the monetary policy by the RBI.
The outgoing RBI Governor, Shaktikanta Das took to microblogging site X to thank Prime Minister Narendra Modi for granting him the opportunity to serve the country and for “his guidance and encouragement”, and Finance Minister Nirmala Sitharaman for “her constant support and backing”.
On Monday, the rupee saw its steepest fall in over a month and plunged 20 paise to settle at lowest-ever level of 84.86 against the US dollar.
Mon, Dec 09, 2024
Sanjay Malhotra has been named the next RBI Governor. Malhotra, a 1990 batch Rajasthan Cadre IAS Officer, will be replacing Shaktikanta Das.
Fri, Dec 06, 2024
RBI has raised its retail inflation estimate for FY25 to 4.8%, up from 4.5%, due to persistent food price inflation. It has also downgraded FY25 GDP growth to 6.6%.
Banks are now mandated to update their lending policies to align with the new loan cap, ensuring seamless access for eligible borrowers.
RBI’s 50-bps CRR cut lifts bank, auto stocks; realty lags as borrowing costs weigh.
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