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RBI News

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.

21 Oct 2024

PhonePe's First Annual Report Unveils Vision for India's Digital Future

PhonePe Group runs multiple businesses across financial sectors and is regulated by RBI, SEBI, IRDAI, and UIDAI.

Reserve Bank of India

16 Oct 2024

Latest UPI, UPI Lite Limits For Various Transactions October 2024

The Reserve Bank of India (RBI) last week announced a couple of limit hike for UPI Lite and UPI123Pay

15 Oct 2024

SBI Slashes Loan Interest Rate By 25 bps On This Short-Term Tenure

SBI MCLR Loan Interest Rate: RBI implemented MCLR on 1 April 2016 to determine rates of interest for loans. Notably, the revised MCLR became effective on October 15.

Retail inflation

15 Oct 2024

Retail Inflation Likely To Average 4.5% In 2024-25: RBI DG

The government has tasked the Reserve Bank of India to ensure that consumer price index (CPI) based retail inflation at 4 per cent with a tolerance band of +/- 2 per cent around it.

15 Oct 2024

Rising Inflation Could Prolong RBI's Neutral Stance: SBI Research

The Consumer Price Index (CPI)-based inflation rate for September reached 5.49 per cent from 3.65 per cent in August, reflecting an uptick primarily due to higher food prices.

India's foreign exchange

11 Oct 2024

India’s Foreign Exchange Reserves Stay Above $700 Bn

The country's Forex reserves of over $700 billion are at an all-time high and the fourth-largest in the world.

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