Forex kitty drops USD 867 million to USD 593.037 billion
Fri, Sep 22, 2023
For the week ended September 15, the foreign currency assets, a major component of the reserves, decreased USD 511 million to USD 525.915 billion, according to the Weekly Statistical Supplement released by the Reserve Bank of India (RBI).
More >
TRENDING NOW
India's economic growth in FY24 to be above 6% on back of macroeconomic stability: RBI MPC member Ashima Goyal
Mon, Sep 18, 2023
Goyal further said that a global slowdown reducing India's export growth, geopolitics fueling oil and food prices, and erratic weather are some of the continuing risks that the country faces. "India has managed to strengthen its macroeconomic stability and performance even in a period of large global shocks. India's GDP growth in FY24 will be above 6 per cent," she told PTI in a telephonic interview
More >
RBI plans to introduce wholesale CBDC in call money market soon
Tue, Sep 05, 2023
The pilot in wholesale segment, known as the Digital Rupee -Wholesale (e?-W), was launched on November 1, 2022, with use case being limited to the settlement of secondary market transactions in government securities.
More >
Financial Stability and Development Council sub-panel reviews macroeconomic, financial issues
Mon, Aug 28, 2023
A meeting of the sub-committee of the Financial Stability and Development Council (FSDC-SC) was held on Monday at the Reserve Bank of India. Reserve Bank of India Governor Shaktikanta Das chaired the meeting.
More >
RBI expected to hold policy rate again at next review meeting, reports Crisil
Fri, Aug 18, 2023
The monetary policy committee of the Reserve Bank of India is expected to again hold the policy rate in the next meeting, as the central bank awaits a clearer picture on the inflation trajectory, said Crisil in a report.
More >
Axis Bank partners with RBI Innovation Hub to launch Kisan Credit cards
Thu, Aug 17, 2023
Axis Bank on Thursday announced the launch of two lending products powered by the Public Tech Platform for Frictionless Credit (PTPFC), introduced by the Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of the RBI.
More >
Economy gathering momentum in Q2, inflation remains concern, says RBI
Thu, Aug 17, 2023
Indian economy is gathering momentum in the second quarter, though inflation would continue to average above the central bank's comfort zone of 6 per cent, said an article in the RBI's monthly bulletin released on Thursday.
More >
UDGAM: RBI sets up centralised web portal for searching unclaimed bank deposits
Thu, Aug 17, 2023
UDGAM Portal: The launch of the web portal will aid users to identify their unclaimed deposits or accounts and enable them to either claim the deposit amount or make their deposit accounts operative at their respective banks.
More >
No more bank visits! Now update your KYC details online
Mon, Aug 14, 2023
The Reserve Bank of India (RBI) has made it easier for individuals to update their know your customer (KYC) details online. If your KYC information remains unchanged and your address is the same, you can now update your KYC details hassle-free through various non-face-to-face channels such as your registered email-id, registered mobile number, ATMs, online banking/internet banking/mobile banking, etc.
More >
RBI's returns from investments set to jump by over $6 billion in FY24
Tue, Jul 18, 2023
The globally elevated interest rates are set to buoy the returns from the Reserve Bank's foreign investments to the tune of USD 6-8 billion this fiscal, which will help the monetary authority pay higher dividend to the government and also buffer up the forex reserves a la the FY21 fashion, says an overseas brokerage report.
More >
Aim to increase e-rupee transactions to 10 lakh per day by 2023-end: RBI Deputy Governor T Rabi Sankar
Tue, Jul 11, 2023
In November last year, the RBI introduced a wholesale CBDC pilot and followed it up with a retail pilot in December. At present, the number of banks in the pilot has gone up to 13 from eight banks initially.
More >
Internationalisation of Indian Rupee: RBI likely to push for inclusion of INR in IMF's Special Drawing Rights basket
Wed, Jul 05, 2023
An RBI-appointed committee has suggested various measures, like allowing Indian banks to offer services in rupee overseas, permitting non-residents to open INR accounts, and withdrawing withholding tax on masala bonds, to accelerate the pace of internationalisation of the domestic currency.
More >
Banks to begin reporting on new data warehouse CIMS: Shaktikanta Das
Fri, Jun 30, 2023
Reserve Bank Governor Shaktikanta Das on Friday said commercial banks will first begin reporting on the central bank's latest next-generation data warehouse, the Centralised Information Management System' (CIMS), followed by urban cooperative banks and non-banking financial companies. Das was addressing the 17th statistics day conference at the RBI headquarters, which also marks the birth anniversary of Prof Prasanta Chandra Mahalanobis--the best-known mind in the field.
More >
RBI releases Financial Stability Report: 5 Highlights from the banking sector's Report card
Wed, Jun 28, 2023
In its Financial Stability Report, the Reserve Bank of India (RBI) also highlighted how the banking sector in India has performed considerably well while the advanced economies dealt with banking turmoil.
More >
RBI Financial Stability Report: Indian economy makes solid recovery despite global headwind, says RBI Governor Das
Wed, Jun 28, 2023
RBI Financial Stability Report: Reserve Bank Governor Shaktikanta Das on Wednesday said that the Indian economy has made a solid recovery and is among the fastest-growing large economies despite heightened uncertainties and formidable headwinds.
More >
