Reserve Bank of India

Indian economy gathers pace, leaves the recession behind

The gross domestic product grew 0.4 per cent in October-December compared with the same period a year earlier, data released by the National Statistics Office on Friday (February 26) showed. That compared with revised contractions of 7.3 per cent in July-September and 24.4 per cent in April-June.

Feb 26, 2021, 21:16 PM IST

Yet another bank on RBI restriction, depositors can’t withdraw more than Rs 50,000 of total balance across all accounts

Considering the bank's present liquidity position, a sum not exceeding Rs 50,000 of the total balance across all savings bank or current accounts or any other account of a depositor, may be allowed to be withdrawn, but bank is allowed to set off loans against deposits subject to the conditions stated in the above RBI Directions.

Feb 26, 2021, 17:12 PM IST

RBI Recruitment 2021: Vacancy for 53 posts, check salary and other details at rbi.org.in

A total of 53 posts are to be filled through this recruitment process. Interested and eligible candidates can apply via official website rbi.org.in. The application process for these posts is starting from February 23 and will continue till March 10, 2021. 

Feb 20, 2021, 11:43 AM IST

Frame new rules for locker management in six months: Supreme Court directs RBI

The Supreme Court on Friday (February 19) said the present state of affairs on management of bank lockers is inadequate and muddled, and there is no uniformity in rules as it directed the RBI to lay down regulations, within six months, for steps necessary for banks on this issue.

Feb 19, 2021, 22:30 PM IST

Reserve Bank of India's rap video warning against banking frauds is the coolest thing you will watch today --Here's the video

"A little caution takes care of a lot of trouble. Never respond to requests to share PIN, OTP or bank account details. Block your card if stolen, lost or compromised," Reserve Bank of India (RBI) has tweeted.

RBI has been conducting Financial Literacy Week (FLW) every year since 2016 to propagate financial education messages on a particular theme across the country.

 

Feb 19, 2021, 12:33 PM IST

THIS bank's customers can't withdraw money for 6 months after RBI restrictions

The Reserve Bank also added that it may consider modifications of the directions depending upon circumstances. The issue of the above Directions by the RBI should not per se be construed as cancellation of banking license by RBI. The bank will continue to undertake banking business with restrictions till its financial position improves. 

Feb 12, 2021, 11:55 AM IST

RBI Monetary Policy: Industry leaders say RBI's accommodative stance will aid economic growth

This is the first monetary policy announcement after the presentation of the Union Budget 2021-22. The Reserve Bank's rate-setting Monetary Policy Committee (MPC) began its meeting on Wednesday. The MPC kept the key benchmark rate unchanged in its last three reviews. 

Feb 05, 2021, 16:37 PM IST

RBI Monetary Policy: No respite to home and auto loan borrowers; RBI keeps interest unchanged at 4%, maintains accommodative stance

This is the first monetary policy announcement after the presentation of the Union Budget 2021-22. The Reserve Bank's rate-setting Monetary Policy Committee (MPC) began its meeting on Wednesday. The six-member MPC headed by RBI Governor Shaktikanta Das has started its deliberations. After the three-day meeting, resolution of the MPC was announced today (February 5).

Feb 05, 2021, 10:11 AM IST

First RBI Monetary Policy after Union Budget 2021 today: Here's what to expect

Under the current dispensation, the RBI has been mandated by the government to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side. The inflation target has to be reviewed by end-March 2021.

The MPC kept the key benchmark rate unchanged in its last three reviews. 

Feb 05, 2021, 08:24 AM IST

Worried about soiled currency notes? Know how and where to exchange it free of cost

A soiled currency note means a note which has become dirty due to normal wear and tear. This also includes a two piece note pasted together wherein both the pieces presented belong to the same note and form the entire note with no essential feature missing. These notes should be accepted over bank counters in payment of government dues and for credit to accounts of the public maintained with banks.

Feb 03, 2021, 17:54 PM IST

Union Budget 2021: Here’s your chance to buy gold at great prices today; invest in this scheme

The value of the bond is based on the simple average closing price published by India Bullion and Jewellers Association Ltd (IBJA) for gold of 999 purity of the last three business days of the week preceding the subscription period (January 27-29, 2020). 

Feb 01, 2021, 14:21 PM IST

Here's your chance to buy gold cheaper than market price; this govt scheme opens tomorrow

Sovereign Gold Bond Scheme 2020-21 - Series XI will be open for subscription from February 01 to February 05, 2021."The nominal value of the bond...Works out to Rs 4,912," the RBI said. 

Here’s all you need to know about your eligibility, how to apply for the Sovereign Gold Bond Scheme.

Jan 31, 2021, 15:28 PM IST

RBI Grade B Officer recruitment: Check selection process, other details

Interested candidates should go through the notification carefully to check the opening and closing date of registration, eligibility criteria, and other facts related to the selection process. The candidates need to fill and submit their application forms available on the RBI's official website.

Jan 25, 2021, 18:42 PM IST

Sovereign Gold Bond Scheme 2020-21 series X: Last day to buy gold at great prices today

The Sovereign Gold Bond Scheme 2020-21 series X, which opened for subscription on Monday (January 11, 2020), closes today (Friday, January 15).

Jan 15, 2021, 15:32 PM IST

Reserve Bank forms panel to suggest measures for promoting orderly growth of digital lending

The Reserve Bank of India said, "Recent spurt and popularity of online lending platforms/mobile lending apps (‘digital lending’) has raised certain serious concerns which have wider systemic implications."As per the Terms of Reference (ToR) for the WG, it has been asked to evaluate digital lending activities and assess the penetration and standards of outsourced digital lending activities in RBI regulated entities, and "identify risks posed by unregulated digital lending to financial stability, regulated entities and consumers".

Jan 13, 2021, 20:56 PM IST

RBI cancels licence of yet another bank: Do you have account in this bank? Know what happens to your money

RBI has said that more than 99 percent of the depositors of the bank will get full repayment of their deposits from DICGC.

Jan 12, 2021, 14:01 PM IST

Sovereign Gold Bond Scheme 2020-21 series X: Here's your chance to buy gold at great prices today

The Sovereign Gold Bond Scheme 2020-21 series X opened for subscription on Monday (January 11, 2020), and closes on Friday (January 15, 2021).

Jan 11, 2021, 09:52 AM IST

Positive pay system for cheque kick in from January 1: Know what it is and what the benefits are

While availing of this facility is at the discretion of the account holder, banks may consider making it mandatory in case of cheques for amounts of Rs 5 lakh and above.

Jan 01, 2021, 18:26 PM IST

SBI introducing Positive Pay System from January 1: Know what it is and how it make Cheque payment secure

The concept of Positive Pay involves a process of reconfirming key details of large value cheques.

Dec 30, 2020, 12:33 PM IST

Sovereign Gold Bond Scheme 2020-21 series IX: Here's your chance to buy gold at great prices today

The tenor of the Bond will be for a period of 8 years with exit option after 5th year to be exercised on the interest payment dates.

Dec 28, 2020, 10:16 AM IST