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RBI News

30 Nov 2024

Time To Cut Interest Rate To Spur GDP Growth, Says Economist Charan Singh

India's GDP grew by 5.4 per cent in the July-September quarter of FY2024-25, significantly below the Reserve Bank of India's (RBI) forecast of 7 per cent.

30 Nov 2024

RBI Likely to Hold Repo Rate Next Week; Feb Rate Cut Chances Rise: Report

On a positive note, the report suggested that rural demand is likely to recover in the second half of the fiscal year. This optimism is based on strong agricultural performance, payouts under government schemes, and increased government spending.

30 Nov 2024

India's GDP Growth Slips In Q2; Experts Revise FY25 Projections

The RBI remains optimistic about the medium-term outlook, stating that the slowdown observed in the second quarter is behind the economy.

28 Nov 2024

Credit Card Spending In India Crosses Rs 2 Lakh Crore In October

According to latest data by the Reserve Bank of India (RBI), credit card spending in October reached Rs 2.02 lakh crore, up 13 per cent (year-on-year).

24 Nov 2024

Goldman Sachs Projects India's GDP Growth At 6.3 Per Cent In 2025

Goldman Sachs forecast India's headline inflation at 4.2 per cent (average) in 2025 with food inflation at 4.6 per cent.

24 Nov 2024

Internationalisation Of UPI Progressing Rapidly: RBI

According to Patra, innovations in the digital credit landscape such as Account Aggregators, OCEN, and financial services on ONDC have also contributed to productivity gains.

24 Nov 2024

Internationalisation Of UPI Progressing Rapidly: RBI Report

The UPI hit a milestone of 16.6 billion transactions in a month in October, with improvements in its capabilities like successful instant debit reversals at 86 per cent (77 per cent in the same month last year).

20 Nov 2024

RBI Warns Banks: Follow THESE Guidelines Or Face Regulatory Actions

The Deputy Governor also asked the board members of banks, particularly the chair of the Customer Service Committee, to ensure that KYC guidelines are followed with both precision and empathy.

20 Nov 2024

BIG Update On Gold Loans: RBI To Introduce THIS Option To Address Lending Gaps

Lenders are also exploring the option of offering term loans secured by gold.

Reserve Bank of India

14 Nov 2024

Risk Of Inflation Coming Back And Growth Slowing Down Globally: RBI Governor

Central banks across the world resorted to tightening of monetary policy because of high inflation due to supply chain disruptions and the war in Ukraine.

Reserve Bank of India

13 Nov 2024

Digital Transfers Of Funds For Public Services Up 56% In 2024: RBI Deputy Guv

Forecasts suggest that generative AI will contribute $359-438 billion to India’s GDP by 2029-30.

Sovereign gold bond

12 Nov 2024

Sovereign Gold Bond Scheme SGB 2016-17 Series III Final Redemption On Nov 16

Sovereign Gold Bond Scheme 2016 Final Redemption: How Much Money Will You Get? Check Details.

11 Nov 2024

RBI: FPIs Can Exceed 10% In Listed Firms By Reclassifying As FDI

In case the FPI intends to reclassify its foreign portfolio investment into FDI, the FPI shall obtain approvals/concurrence from the government and the concerned Indian investee company.

10 Nov 2024

Making UPI Payments Without Smartphone Gets Easier; RBI Takes BIG Step

UPI 123 Pay Limit: The National Payments Corporation of India (NPCI) confirmed this change in a circular dated October 25, 2024, with a compliance deadline set for January 1, 2025.

09 Nov 2024

Your Saving Account Money Transferred Into DEAF Account?How To Get Funds Back?

RBI DEAF Account: In the modern day, majority of Indians have bank accounts, be it saving or current account. A few crores of Indians also have credit cards. However, you may be aware that if you fail to carry out any transaction in your account for two years, your account becomes inoperative or inactive. To reactivate your account, you need to re-verify your KYC details. However, if you fail to do so with money still lying in your account will get transferred to the DEAF account.

04 Nov 2024

Over 98 Per Cent Of Rs 2000 Notes Have Been Returned: RBI

2,000 Rupee Note Exchange: The facility for the exchange of the Rs 2000 banknotes is available at the 19 Issue Offices of the Reserve Bank since May 19, 2023.

Reserve Bank of India

04 Nov 2024

Rs 2.25 Lakh Salary: RBI Invites Applications For Post Of Deputy Governor

The appointment of RBI Deputy Governor will be for a period of three years and the person will be eligible for re-appointment.

31 Oct 2024

Debit Card-Based Transactions Drop 8% In September As UPI Payments Surge

On the other hand, credit card transactions grew in the country, which saw a nearly 5 per cent increase in the month of September at Rs 1.76 lakh crore, from Rs 1.68 lakh crore in August, according to the latest data from the central bank.

23 Oct 2024

Cash Transactions Decline Rapidly In India As Digital Payments Surge: RBI

Pradip Bhuyan from the Reserve Bank’s Department of Currency Management wrote in the paper that the share of digital payments more than doubled from 14-19 per cent in March 2021 to 40-48 per cent in March 2024, with unified payments interface (UPI) playing a key role.

23 Oct 2024

Paytm Receives NPCI Approval To Onboard New UPI Users

The Paytm update comes months after the Reserve Bank of India's regulatory freeze on UPI.

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