Reserve Bank Of India (RBI): News
18 Jun 2023
RTI ActRBI denies disappearance claims of Rs. 500 notes worth crores
The Reserve Bank of India (RBI) dismissed a report on Saturday that talked about the alleged "mysterious disappearance of Rs. 500 notes" approximately worth "Rs. 88,032.5 crore."
08 Jun 2023
RuPayRBI allows RuPay Prepaid Forex card: Know how it works
Indians traveling abroad will soon have another option to make payments-RuPay Prepaid Forex card.
08 Jun 2023
Shaktikanta DasHalf of Rs. 2,000 notes deposited, exchanged so far: RBI
Around 50% of the total Rs. 2,000 currency notes have been deposited or exchanged so far, according to the Reserve Bank of India (RBI).
08 Jun 2023
Monetary Policy CommitteeReserve Bank keeps repo rate unchanged at 6.5%
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Thursday made the official decision to keep the repo rate unchanged at 6.5%, news agency ANI quoted RBI Governor Shaktikanta Das as saying.
31 May 2023
GoogleGoogle imposes new rules on personal loan apps in India
Predatory lending by loan apps has been a major issue in India. There have been calls to deal with lenders that harass borrowers.
30 May 2023
IndiaRBI unveils new lightweight payment system: Why is it needed
Once a cash-based economy, India has evolved as one of the leaders in digital payments.
23 May 2023
Shaktikanta DasYou can start exchanging your Rs. 2,000 notes from today
Anticipating a rush to exchange Rs. 2,000 notes, which begins on Tuesday, numerous banks have reportedly set up dedicated counters, people to manage queues, and enough inventory of lower denomination banknotes.
22 May 2023
Indian GovernmentRs. 2,000 note withdrawal: Debunking all myths, revealing facts
The Reserve Bank of India (RBI) recently announced the withdrawal of Rs. 2,000 currency notes, leading to a wave of confusion and misconceptions.
22 May 2023
Shaktikanta DasDon't rush to exchange Rs. 2,000 notes: RBI governor
Reserve Bank of India (RBI) Governor Shaktikanta Das said on Monday there was no need to panic over the withdrawal of Rs. 2,000 notes.
21 May 2023
State Bank of India (SBI)No forms, documents needed to exchange Rs. 2,000 notes: SBI
The State Bank of India (SBI) has informed its branches that no form or identity proof documents are required to exchange Rs. 2,000 notes, which the Reserve Bank of India (RBI) withdrew from circulation on Friday.
20 May 2023
Krishnamurthy SubramanianWhy Rs. 2,000 note withdrawal is important, IMF expert explains
Dr. Krishnamurthy Subramanian, the executive director for India at the International Monetary Fund (IMF), has hailed the decision of the Reserve Bank of India (RBI) to scrap the circulation of Rs. 2,000 currency notes.
19 May 2023
IndiaRBI to withdraw Rs. 2,000 currency note from circulation
The Reserve Bank of India (RBI) has instructed banks to cease issuing Rs. 2,000 denomination banknotes with immediate effect. It, however, stated that the banknotes in the Rs. 2,000 denomination will continue to be legal tender.
18 May 2023
Indian GovernmentInternational credit card spending attracts 20% TCS: What it means
Using credit cards on overseas holidays or business trips is about to become more expensive. Do you know why?
21 Apr 2023
MaharashtraBanks decline coins from Shirdi's Saibaba temple citing space crunch
Banks are reportedly struggling to accommodate the huge amount of coins received by Shirdi's Saibaba temple as donations in Maharashtra.
12 Apr 2023
Ajit PawarMSC Bank scam: ED chargesheet drops NCP's Ajit Pawar, wife
The Enforcement Directorate (ED) has filed a chargesheet against the Maharashtra State Cooperative (MSC) Bank in a multi-crore money laundering case, naming a company linked to former Maharashtra deputy chief minister and Nationalist Congress Party (NCP) leader Ajit Pawar.
09 Apr 2023
AadhaarAadhaar Enabled Payment System: Features and how to use explained
Aadhaar Enabled Payment System (AePS) is a type of digital payment method based on the Unique Identification Number (UIN).
07 Apr 2023
MumbaiRBI's retail digital rupee is now live in 4 cities
On December 1, 2022, the Reserve Bank of India (RBI) launched the retail digital rupee (eRs-R) on a pilot basis in India. The pilot of RBI's Central Bank Digital Currency (CBDC) involved a closed group of banks and cities.
07 Apr 2023
Unified Payment Interface (UPI)RBI shelves NUE, the UPI rival project: Here's why
The Reserve Bank of India (RBI) has shelved its project to create an alternative for the Unified Payment Interface (UPI).
06 Apr 2023
Unified Payment Interface (UPI)Your UPI account will soon work like a credit card
The Reserve Bank of India's (RBI) bi-monthly Monetary Policy Committee (MPC) meeting was packed with surprises this time.
06 Apr 2023
Repo RateAfter six hikes, RBI keeps repo rate unchanged at 6.5%
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) stopped its rate-hike cycle to keep the repo rate unchanged at 6.5%, RBI Governor Shaktikanta Das announced on Thursday.
03 Apr 2023
IndiaOPEC+ cuts oil output: Know its impact on India
A surprise cut in oil output by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, or OPEC+, has sent the global market into a frenzy.
27 Mar 2023
Monetary Policy CommitteeRBI may pause interest hikes, keep 6.5% terminal repo rate
The Reserve Bank of India (RBI) is likely to pause interest rate hikes in the next Monetary Policy Committee (MPC) meeting in April, said State Bank of India (SBI) Research, per ANI.
17 Mar 2023
IndiaCredit Suisse's crisis is more relevant to India: Know how
The global financial system is going through a tough time. On the one hand, we have Silicon Valley Bank and on the other, we have Credit Suisse.
13 Mar 2023
United States of AmericaBank Run: The problem that triggered Silicon Valley Bank collapse
Last week, the US government shut down Silicon Valley Bank as it failed to raise funds for functioning.
13 Mar 2023
IndiaHere's how you can exchange torn or damaged currency notes
Your mutilated banknotes are still exchangeable!
08 Mar 2023
CryptocurrencyGovernment imposes anti-money laundering provisions on cryptocurrency, virtual assets
In the latest blow to the cryptocurrency sector in the country, the Indian government has imposed money laundering provisions on the industry.
07 Mar 2023
National Company Law TribunalNCLT gives nod to Suraksha Group to buy Jaypee Infratech
The National Company Law Tribunal (NCLT) has approved Mumbai-based Suraksha Group's bid to buy Jaypee Infratech Limited (JIL) six years after it entered the insolvency process in 2017, PTI reported.
28 Feb 2023
IndiaIndia's Q3 GDP growth declines to 4.4% amid high inflation
India's GDP (gross domestic product) growth for the third quarter of the current fiscal slowed down. Per data released by the National Statistical Organization (NSO), the GDP growth for Q3 FY23 came in at 4.4%, compared to 6.3% in Q2.
21 Feb 2023
Unified Payment Interface (UPI)India's UPI makes global debut in partnership with Singapore's PayNow
Starting today, cross-border payments between India and Singapore are going to get easier. The Unified Payment Interface (UPI) of India and Singapore's PayNow will be linked to enable faster cross-border remittances.
20 Feb 2023
Travel And TourismIndians catch travel bug; spending on foreign tours at $10bn
Talks about recession and economic downturn are rife these days. However, none of that seems to have affected Indians.
15 Feb 2023
PaytmPaytm Payments Bank introduces UPI LITE: How to use it
In a bid to make low-value UPI transactions faster, more secure, and seamless, Paytm Payments Bank Limited (PPBL) has introduced UPI LITE in India.
09 Feb 2023
Adani GroupDomestic lenders are safe from Adani Group's fall: RBI, Moody's
Adani Group has been under the microscope ever since Hindenburg Research published a report accusing the conglomerate of stock manipulation and accounting fraud. The report also pointed out the group's sky-high debts.
08 Feb 2023
Repo Rate#NewsBytesExplainer: How does repo rate affect the common man
The Reserve Bank of India (RBI) has hiked India's repo rate for the sixth time since May 2022. Have you ever wondered why it becomes big news when the RBI hikes or lowers the repo rate?
08 Feb 2023
Repo RateRBI hikes repo rate by 25 basis points to 6.5%
The Reserve Bank of India (RBI) Governor Shaktikanta Das announced on Wednesday that the country's repo rate has been raised by 25 basis points to 6.5%.
02 Feb 2023
Adani GroupRBI is looking into Indian banks' exposure to Adani Group
As Adani Group companies nosedive in the stock market, the Reserve Bank of India (RBI) has stepped in to measure the exposure of Indian banks to the conglomerate.
20 Jan 2023
Venugopal DhootICICI bank fraud case: Videocon's Venugopal Dhoot gets interim bail
Videocon Group chairperson Venugopal Dhoot was granted interim bail on Friday by the Bombay High Court, almost a month after the Central Bureau of Investigation (CBI) arrested him in the ICICI Bank-Videocon loan fraud case.
11 Jan 2023
Adani PortsWorld's biggest ship skips India amid lack of port infrastructure
The world's biggest ship, Ever Alot, couldn't dock in India as most coastal harbors aren't deep enough to handle vessels that huge.
02 Jan 2023
Supreme Court Of IndiaMeet BV Nagarathna, SC judge who dissented from demonetization verdict
The Supreme Court on Monday upheld the Centre's 2016 demonetization decision and dismissed all pleas contesting it.
02 Jan 2023
Supreme Court Of India'Not flawed': Supreme Court upholds government's 2016 decision of demonetization
Upholding the Centre's 2016 decision of demonetization, the Supreme Court on Monday junked all 58 petitions challenging it, saying the financial decision taken by the government can't be overturned.
30 Dec 2022
Shaktikanta DasGross NPAs of Indian banks fall to 7-year low: RBI
Bad loans or non-performing assets have made life harder for Indian banks for a long time. However, banks have been trying to bring them down.
21 Dec 2022
CryptocurrencyRBI Governor warns cryptocurrency will cause next financial crisis
The Reserve Bank of India (RBI) and its Governor Shaktikanta Das has never been big a fan of cryptocurrency. On Wednesday, Das reiterated his stance that crypto should be banned.
14 Dec 2022
Raghuram RajanRajasthan: Former RBI governor Raghuram Rajan joins Bharat Jodo Yatra
Former Reserve Bank of India (RBI) Governor Raghuram Rajan joined the Congress Party's Bharat Jodo Yatra (BJY) led by Rahul Gandhi, which is now traveling across Rajasthan.
07 Dec 2022
Supreme Court Of IndiaDemonetization: Supreme Court reserves judgment, seeks records from Centre, RBI
The Supreme Court on Wednesday reserved its judgment in pleas challenging the demonetization announced by the Centre on November 8, 2016, The Indian Express reported.
07 Dec 2022
Monetary Policy CommitteeRBI increases key repo rate by 35 bps to 6.25%
The Reserve Bank of India (RBI) increased its key lending rate on Wednesday by 35 basis points to 6.25%.
01 Dec 2022
Indian Rupee (INR)RBI rolls out retail digital rupee: How to use it?
The Reserve bank of India (RBI) has started the rollout of the much-anticipated retail digital rupee (eRs-R) on a pilot basis in India.
29 Nov 2022
CryptocurrencyIndia's digital rupee's retail pilot on December 1, says RBI
The Reserve Bank of India (RBI) is all set for the first pilot of the retail version of its Central Bank Digital Currency (CBDC). It will take place on December 1, the central bank said in a statement.
17 Nov 2022
IndiaDemonetization enforced after extensive talks with RBI: Centre tells SC
The Union government has informed the Supreme Court (SC) that the 2016 demonetization was a "well-considered" move and part of a bigger process to fight the menace of tax evasion, fake money, black money, and terror financing.
14 Nov 2022
InflationWholesale price-based inflation eases to 8.39%, lowest since March 2021
Wholesale price index (WPI), which determines the price of products at the wholesale stage, eased in October, as per the government data shared on Monday.
13 Oct 2022
HyderabadHyderabad: Police bust Rs. 903 crore online Chinese investment fraud
An online investment fraud worth a staggering Rs. 903 crore run by a Chinese firm was unraveled, said Hyderabad Police on Wednesday.
12 Oct 2022
Supreme Court Of IndiaSC to examine demonetization exercise, asks affidavits from Centre, RBI
The Supreme Court (SC) said on Wednesday that while it acknowledged the ambit of the judicial review of State policies, however, it will examine the Narendra Modi-led government's 2016 decision to demonetize currency notes.
10 Oct 2022
CryptocurrencyUnderstanding digital rupee and how RBI plans to launch it
India's own Central Bank Digital Currency (CBDC) or digital rupee could soon see the light of day.
01 Oct 2022
IndiaOctober to see 21 bank holidays, including entire 1st week
October is the month of festivities, which means there will be many non-working days for banks and financial institutions.
30 Sep 2022
Shaktikanta DasMonetary policy: RBI hikes repo rate by 50bps to 5.9%
The Reserve Bank of India (RBI) hiked the repo rate by 50 basis points (bps) to 5.9% on Friday, Governor Shaktikanta Das announced.
29 Sep 2022
BusinessIndia's new credit card rules: How will they affect cardholders?
The Reserve Bank of India (RBI) announced new criteria for the issuance of credit and debit cards in April this year. Some of them came into force on July 1.
26 Sep 2022
Indian Rupee (INR)Indian rupee hits all-time low against US dollar, breaches 81-mark
The Indian rupee on Monday fell to a new record low of 81.55 versus the US dollar for the first time ever, NDTV reported, citing interest rate hikes in the US and inflation worries.
22 Sep 2022
MaharashtraRBI cancels Laxmi Co-operative Bank's license; Rs. 5L withdrawal limit
The Reserve Bank of India (RBI) canceled the license of The Laxmi Co-operative Bank Limited in Maharashtra on Thursday.
15 Aug 2022
IndiaHow has Indian Rupee performed against US Dollar since Independence?
India is celebrating 75th year of its Independence and stands at a crossroads of pushing resilient economic growth over the next 25 years.
05 Aug 2022
Shaktikanta DasRBI hikes repo rate by 50bps, GDP pegged at 7.2%
The Reserve Bank of India (RBI) has decided to hike the repo rate by 50 basis points (bps) to 5.40% on Friday, Governor Shaktikanta Das announced.
11 Jul 2022
IndiaUber Files: Inside the ride-hailing firm's questionable tactics in India
An investigation of a leaked data dump called "Uber Files" has revealed damning details about how the ride-hailing service used unethical means for business expansion worldwide, including in India.
23 Jun 2022
IndiaCBI books DHFL's Wadhawans in Rs. 34000-crore bank fraud case
The Central Bureau of Investigation (CBI) has booked former promoters of Dewan Housing Finance Corporation Ltd (DHFL), Kapil Wadhawan and Dheeraj Wadhawan, among 13 accused in the biggest-ever bank fraud case in India.
22 Jun 2022
Debit CardsWhat is credit, debit card tokenization rule effective July 1
The Reserve Bank of India (RBI) has mandated card-on-file (CoF) tokenization for domestic online purchases via credit and debit cards from July 1.
08 Jun 2022
Shaktikanta DasRBI hikes repo rate by 50 bps; EMIs get costlier
The Reserve Bank of India (RBI) on Wednesday increased the repo rate by 50 basis points (bps) to 4.90% and the inflation projection for the current fiscal to 6.7%.
07 Jun 2022
IndiaICICI Bank FD interest rates hiked: Check latest rates
ICICI Bank, India's second-largest private bank, has reportedly raised the interest rates on its fixed deposits (FD) once again with effect from Tuesday (June 7).
30 May 2022
ReutersIndia's Q4 GDP pegged at 2.7%, lower than Q3: Experts
According to SBI's economists, the upcoming release of official statistics for economic performance is likely to show 2.7% growth for the January-March quarter and 8.5% growth for FY22.
29 May 2022
Narendra ModiRBI fake currency report: Opposition's demonetization swipe at Modi government
The opposition on Sunday took a swipe at the Centre and PM Narendra Modi over a Reserve Bank of India (RBI) report showing a rise in counterfeit currency.
06 May 2022
IndonesiaHindustan Unilever hikes product prices for second time within month
Indian consumers are likely to bear face an extra burden on their pockets as the country's FMCG giant Hindustan Unilever (HUL) raised product prices by up to 15% across categories, CNBC-TV18 reported on Friday.
06 May 2022
NetflixApple stops accepting credit or debit cards for subscriptions, purchases
Apple users in India will no longer be able to use credit or debit cards to pay for subscriptions and app purchases. The change comes as a result of the Reserve Bank of India's (RBI) new auto-debit rules.
08 Apr 2022
IndiaRBI keeps key interest rates unchanged for 11th consecutive time
The Reserve Bank of India on Friday kept the benchmark repo rate unchanged at 4% for the 11th time in a row.
11 Feb 2022
CryptocurrencyTaxing cryptocurrency is government's sovereign right: FM Sitharaman
Finance Minister Nirmala Sitharaman on Friday said the government has sovereign right to tax profit made from cryptocurrency transactions.
10 Feb 2022
Repo RateRBI maintains lending rates; 7.8% GDP growth projected in 2022-23
The Reserve Bank of India (RBI) kept the repo rate unchanged at 4% for the 10th time in a row in its monetary policy review meeting on Thursday.