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The Latest Breaking News from RBI

Finance ministry holds review meeting with heads of banks to promote cross-border trade in rupee

NEW DELHI: The finance ministry on Monday had a comprehensive review meeting with CEOs of banks including top six private sector lenders and discussed ways to promote cross-border trade in rupee.

The Times of India

Delhi HC Seeks RBI Stand On PIL Seeking Uniform Banking Code For Foreign Exchange Transactions

The Delhi High Court on Monday sought a response from the Reserve Bank of India (RBI) on a Public Interest Litigation (PIL) seeking direction to implement a Uniform Banking Code for foreign exchange transactions to control black money generation and Benami transactions. Read on for details:

Dynamite News

RBI's Digital Rupee A "Game Changer", Says SBI Chairman Dinesh Khara

The Reserve Bank of India's pilot project on retail digital Rupee is a "game changer", said SBI Chairman Dinesh Khara, and added that it will have durable effects which would ensure better monetary transmission at much lesser costs. Read on for details:

Dynamite News

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Digital rupee a game changer, says SBI chairman Dinesh Khara

NEW DELHI: SBI chairman Dinesh Khara on Friday said the Reserve Bank's first pilot project for retail digital rupee is a "game changer" with durable effects that should ensure better monetary transmission at much lesser costs.

The Times of India

Global economy must start bracing for low inflation, says Raghuram Rajan

The global economy could go back to a low inflation regime and central bankers pursuing restrictive monetary polices should keep that in mind, said Raghuram Rajan, a former governor of Reserve Bank of India (RBI).

The Times of India

Branches of Indian banks in overseas can deal in financial products not permitted in domestic market

MUMBAI: The Reserve Bank on Thursday allowed with certain riders foreign branches and subsidiaries of Indian banks to deal in financial products that are not specifically permitted in the domestic market.

The Times of India

RBI comes out with four-tiered regulatory framework for urban cooperative banks

MUMBAI: The Reserve Bank of India (RBI) on Thursday announced a four-tiered regulatory framework for categorisation of Urban Co-operative Banks (UCBs).

The Times of India

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Carlyle, Advent get conditional nod from RBI to own 9.99% in Yes Bank

MUMBAI: Private equity majors The Carlyle Group and Advent have got the Reserve Bank's nod to own up to 9.99 per cent in Yes Bank, the private sector lender said on Thursday.

The Times of India

Indian economy grows 6.3% in Q2 of FY23; services shine, manufacturing & mining sectors drag

NEW DELHI: India's gross domestic product (GDP) for the period July-September 2022 grew by 6.3% , data released by the government showed on Wednesday.

The Times of India

RBI to launch first pilot for retail digital rupee on December 1

NEW DELHI: The Reserve Bank of India (RBI) is all set to launch it first pilot for retail digital rupee (e₹-R) on December 1.

The Times of India

Bank credit grows at 17.2% in September quarter: RBI data

MUMBAI: Bank credit growth improved to 17.2 per cent in the September quarter 2022 from 7 per cent in the year-ago period, reflecting pick-up in economic activities.

The Times of India

RBI pauses onboarding of online merchants by Paytm payments services

NEW DELHI: Banking regulator RBI has put a pause on onboarding of online merchants by Paytm Payments Services, even as the company said it will have no material impact on its business, according to a regulatory filing.

The Times of India

Lagged data, frequent reviews make monetary policy's task challenging: RBI deputy governor Michael Patra

MUMBAI: Reserve Bank deputy governor Michael Patra on Thursday said formulating monetary policy is a challenging task in a volatile environment like the current one, given lagged data inputs, which are also frequently reviewed.

The Times of India

Demonetisation at 6: The idea, the objectives, and the post-event justifications

Six years ago today, India experienced an economic earthquake.

Newslaundry

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Dynamite News

Digital Rupee: Central Bank Digital Currency Is Going To Be Major Transformation Of The Way Business Is Done, Says RBI Guv

Governor Shaktikanta Das said, "Yesterday, we launched the trial of our digital currency, Central Bank Digital Currency (CBDC) project. It was indeed a landmark moment in the history of currency in our country. Read on for details:

The Times of India

Acting early would have exerted heavy costs: Shaktikanta Das on RBI missing inflation target

NEW DELHI: RBI governor Shaktikanta Das said on Wednesday that Indian economy is growing steadily, drawing strength from its macroeconomic fundamentals and buffers.

Benzinga

India Is Testing A Digital Rupee: 9 Lenders Join In For A New CBDC Pilot Project

The Reserve Bank of India (RBI) has launched the Central Bank Digital Currency (CBDC) for the wholesale market as part of its first pilot test program to evaluate and enhance the functionality of the digital rupee.

The Times of India

India’s inflation may be lower than data suggests, report says

NEW DELHI: India’s inflation numbers might be better than official data suggests once the massive impact of a government food program is factored in, according to a report released Monday by Bloomberg Economics.

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Dynamite News

Business: First Pilot Of Digital Rupee To Commence On Tuesday, Says RBI

The use case for the pilot is settlement of secondary market transactions in government securities, the RBI said in a statement on Monday. Read on for details:

The Times of India

India's forex reserves fall to $524.52 billion

MUMBAI: India's forex reserves dropped by $3.847 billion to $524.52 billion for the week ended October 21, the RBI said on Friday.

Dynamite News

Put Images Of Deities Lakshmi-Ganesha On Currency Notes: Delhi CM Arvind Kejriwal's Appeal To PM For 'Getting Economy On Track'

Delhi Chief Minister Arvind Kejriwal has appealed to Prime Minister Narendra Modi to consider including the images of Goddess Lakshmi and Lord Ganesh on currency notes in India to "improve the economic situation of the country". Read on for details:

The Times of India

Reliance to demerge financial services arm Jio Financial Services; list it on stock exchanges

NEW DELHI: Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday said it will demerge its financial services arm and list it on the stock exchanges.

The Times of India

India needs dedicated wing to release Green GDP estimates, says RBI article

MUMBAI: India needs to set up a dedicated wing in the environment ministry to release estimates of Green GDP periodically on a regular basis and create a user-friendly data dissemination platform, said an RBI article.

The Times of India

Banks hike MCLRs, repo-linked lending rates post RBI rate action

NEW DELHI: Joining peer lenders, SBI, Kotak Mahindra Bank and Federal Bank are the latest in the list to revise their marginal cost of funds based lending rates (MCLRs) in addition to hikes in repo-linked rates from early October.

The Times of India

Fight against inflation will be dogged, prolonged: RBI article

MUMBAI: The fight against inflation will be dogged and prolonged, given the long and variable lags with which monetary policy operates, an RBI article said.

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