Articles for Currency Rbi

RBI Governor Sanjay Malhotra targets ‘investor-friendly’ India: How will the rate cut impact sluggish growth?
1 month, 2 weeks ago

RBI Governor Sanjay Malhotra targets ‘investor-friendly’ India: How will the rate cut impact sluggish growth?

Live Mint  

The Reserve Bank of India Governor Sanjay Malhotra said on Saturday, February 8, that the central bank aims to make India more investor-friendly, and the rates cuts are set to support growth and consumption in the nation, PTI reported. The Reserve Bank of India on February 7 announced a 25-basis-points rate cut to 6.25 per cent, to fuel the growth …

India Inflation Bank Cent Rbi Malhotra Sanjay Malhotra
Why Bitcoin, cryptocurrencies often face political heat? Virtual currency's legal status, its future explained
4 months ago

Why Bitcoin, cryptocurrencies often face political heat? Virtual currency's legal status, its future explained

India TV News  

Amit intense poll battle in Maharashtra, just a day before crucial voting in the state assembly elections, the Bharatiya Janata Party alleged National Congress Party leader Supriya Sule and state Congress chief Nana Patole's involvement in a cryptocurrency fraud. The Reserve Bank of India too has been skeptical about the use of private crypto assets and considers it as a …

India Cryptocurrency International Collaboration Crypto Assets Bank Bitcoin
Vostro accounts to get a feature upgrade
4 months, 2 weeks ago

Vostro accounts to get a feature upgrade

Live Mint  

The Reserve Bank of India may permit the use of rupee vostro accounts for a wider variety of transactions, two people aware of the plans said, a move that promises to enhance the utility of these accounts and advances the use of the rupee in cross-border trade. Additionally, the RBI aims to enable bank lending to PROIs and facilitate foreign …

Trade Russia International Trade Indian Bank Currency Russian
RBI unveils revised Currency Swap Arrangement for SAARC countries
8 months, 3 weeks ago

RBI unveils revised Currency Swap Arrangement for SAARC countries

The Hindu  

The Reserve Bank of India on June 27 said it with the concurrence of the Government of India has decided to put in place a revised Framework on Currency Swap Arrangement for SAARC countries for the period 2024 to 2027. Under this Framework, the Reserve Bank would enter into bilateral swap agreements with SAARC central banks, who want to avail …

Rbi Swap Saarc Swap Arrangement Saarc Countries
97.76 per cent of Rs 2,000 currency notes returned, says RBI
10 months, 3 weeks ago

97.76 per cent of Rs 2,000 currency notes returned, says RBI

India TV News  

The Reserve Bank of India revealed that as of May 2, 97.76% of the Rs 2,000 currency notes in circulation since May 19, 2023, have been reintegrated into the banking system. The total value of Rs 2,000 banknotes dropped significantly from Rs 3.56 lakh crore in May 2023 to just Rs 7,961 crore by April 30, 2024, marking a substantial …

Bank Rbi Notes Banknotes 19 2023
E-rupee boost: RBI to enhance role of digital currency, allow non-bank operators to offer CBDC wallets
11 months, 2 weeks ago

E-rupee boost: RBI to enhance role of digital currency, allow non-bank operators to offer CBDC wallets

Hindustan Times  

In his statement released today, the Reserve Bank of India Governor, Shaktikanta Das, has indicated the central bank’s interest in enhancing the scope of digital currency in India. The RBI Governor said the central bank was looking to promote CBDC and that too by enhacing its scope through Non-bank Payment System Operators and thereby boost retail use. It is proposed …

India Bank Digital Digital Currency Payment Rbi Cbdc
97.69 per cent of Rs 2000 currency notes returned, Rs 8,202 crore yet to come: RBI
11 months, 3 weeks ago

97.69 per cent of Rs 2000 currency notes returned, Rs 8,202 crore yet to come: RBI

India TV News  

97.69 per cent of Rs 2000 currency notes returned, Rs 8,202 crore yet to come: RBI The Reserve Bank of India said the Rs 2,000 notes, that were in circulation till May 19, 2023, continue to be legal tender. Mumbai: The Reserve Bank of India reported on Monday that nearly 97.69 percent of the Rs 2000 denomination banknotes have been …

India 2023 Rbi Deposit Exchange Legal Tender Rs 2000 Banknotes
RBI to launch pilot of retail digital rupee on 1 December
2 years, 3 months ago

RBI to launch pilot of retail digital rupee on 1 December

Firstpost  

‘It would be in the form of a digital token that represents legal tender. It would be issued in the same denominations that paper currency and coins are currently issued,’ RBI said Mumbai: The Reserve Bank on Tuesday said it will launch the first pilot for retail digital rupee on December 1, 2022, in which four banks including SBI and …

Bank Digital Rbi Person Launch Pilot
Rupee’s yoyo calls for new playbook
2 years, 8 months ago

Rupee’s yoyo calls for new playbook

New Indian Express  

On July 1 the government announced a windfall tax on oil producers and hiked levies on the import of gold. This week the RBI in an attempt to shore up confidence in the currency announced raising the investment cap for FPIs in debt markets and hiked the permissible limits on external borrowings for Indian corporates besides new norms to enable …

RBI announces measures to increase foreign exchange inflows
2 years, 8 months ago

RBI announces measures to increase foreign exchange inflows

Live Mint  

The Reserve Bank of India today announced various measure to increase forex inflows including temporarily permitting banks to raise fresh FCNR and NRE deposits without reference to the extant regulations on interest rates. The measures announced by the RBI also included letting foreign investors invest in short-term corporate debt and allowing the purchase of more government securities under the fully …

Interest Rates Currency Securities Term Foreign Rbi Banks
Cryptocurrency: RBI to bring India's own digital rupee; how much tax it will attract | All you need to know
3 years, 1 month ago

Cryptocurrency: RBI to bring India's own digital rupee; how much tax it will attract | All you need to know

India TV News  

Highlights RBI to issue digital rupee based on blockchain technology in 2022-23 With this, India will join certain countries that have their own central bank digital currency China's digital RMB was the first digital currency to be issued by a major economy Budget 2022: Finance Minister Nirmala Sitharaman on Tuesday announced the launch of India's own digital currency by the …

India Tax Cryptocurrency Assets Bank Digital Digital Currency
Union Budget 2022 | RBI to introduce Digital Rupee
3 years, 1 month ago

Union Budget 2022 | RBI to introduce Digital Rupee

The Hindu  

In a big ‘no’ to crypto currencies, Digital Rupee will be introduced in India during the 2022-23 financial year, Nirmala Sitharaman said on Tuesday while presenting the Union Budget. Big announcement: RBI will come up with digital money using the block chain technology: @nsitharaman#BudgetSpeech — Sobhana K Nair February 1, 2022 “Introduction of Central Bank Digital Currency will give a …

Digital Union Budget Digital Rupee
Many countries have cautioned India against cryptocurrencies; RBI has banned its use, says Nirmala Sitharaman
5 years, 5 months ago

Many countries have cautioned India against cryptocurrencies; RBI has banned its use, says Nirmala Sitharaman

Firstpost  

Washington: Many countries have cautioned against rushing into cryptocurrencies, Union Finance Minister Nirmala Sitharaman said on Sunday, as Facebook’s proposed virtual currency Libra became a buzzword during the annual meeting of the International Monetary Fund and the World Bank. I got the sense that many countries were cautioning on rushing into this,” Sitharaman told a group of Indian reporters in …

India Currency Sitharaman Libra Many Countries Georgieva
Your Rs 100 note to get a shine as RBI plans varnish coating for longer lifespan
5 years, 6 months ago

Your Rs 100 note to get a shine as RBI plans varnish coating for longer lifespan

India Today  

The Rs 100 note may soon get a shine, literally. COUNTERFIETERS CONTINUE TO POSE CHALLENGE In its annual report, the RBI said that compared to the previous year, "there was an increase of 20.2 per cent, 87.2 per cent and 57.3 per cent in counterfeit notes detected in the denominations of Rs 10, Rs 20 and Rs 50, respectively". Counterfeit …

Currency Notes Currency Cent Rbi Note Notes Counterfeit Notes
A terror strike
5 years, 11 months ago

A terror strike

The Hindu  

Many years from now, Indian children who lived through November 2016 will be able to narrate to their grandchildren their experience with the devastating effects of an economic decision that has no precedent in global economic history. Demonetisation, a term that ought to have remained confined to a short passage in economics textbooks, is now part of folklore, thanks to …

Impact Demonetisation Indian Black Money Currency Rbi Modi
Bitcoin smashes $15,000 in latest record run, RBI sounds caution
7 years, 3 months ago

Bitcoin smashes $15,000 in latest record run, RBI sounds caution

India TV News  

Continuing its stellar run, popular cryptocurrency Bitcoin on Thursday breached the $15,000 mark just two days ahead of the launch of Bitcoin futures on Chicago-based CBOE this coming Sunday. The Reserve Bank of India neither recognises Bitcoin as legal tender nor does it authorize the use of any virtual currency as a medium of payment. In its first warning issued …

Bitcoin Currency Rbi Virtual
Demonetisation: Supreme Court asks Narendra Modi govt to consider giving window to deposit old notes
7 years, 8 months ago

Demonetisation: Supreme Court asks Narendra Modi govt to consider giving window to deposit old notes

Firstpost  

Rekindling hopes, the Supreme Court on Tuesday asked the government and the RBI to consider granting a window to those who have not been able to exchange old notes of Rs 500 and Rs 1,000 notes following demonetisation, for genuine reasons New Delhi: Rekindling hopes, the Supreme Court on Tuesday asked the government and the Reserve Bank of India to …

Supreme Court Court Money Centre Rbi Person Window
Demonetisation: People stuck with scrapped notes hope for another deposit window
7 years, 11 months ago

Demonetisation: People stuck with scrapped notes hope for another deposit window

Hindustan Times  

When Rahul Gupta found a sum of Rs 8,000 lying around in his house earlier this year, he let his little son play around with it. Segu Venkateshwara Rao has Rs 2.28 lakh in scrapped currency notes of Rs 1,000. Pathania turned to one such broker after he found Rs 36,000 in old notes stashed in a cupboard at his …

Money Bank Shimla Rbi Notes Pathania
What does the currency ban mean for banks?
8 years, 3 months ago

What does the currency ban mean for banks?

Live Mint  

The withdrawal of Rs500 and Rs1,000 notes on 8 November has changed the composition of money supply in the economy. Our analysis suggests that: banks are not in a position to significantly increase lending, their net interest income may fall over the next few quarters, worsening their capital position, and their NPA situation may get worse, further adding to their …

Bank Loans Capital Currency Rbi Banks Ban
Demonetisation: Narendra Modi govt owes the common man answers to these two questions
8 years, 4 months ago

Demonetisation: Narendra Modi govt owes the common man answers to these two questions

Firstpost  

Even as the Narendra Modi government has been struggling hard to manage the post-demonetisation tremors after withdrawing 86 percent of the currency in circulation and although 10 days on, the common man is still in a trance-like state Even as the Narendra Modi government has been struggling hard to manage the post-demonetisation tremors after withdrawing 86 percent of the currency …

Money Demonetisation Bank Man Currency Billion Rbi
Demonetisation: Arun Jaitley says ATM recalibration will take 3 weeks, be patient
8 years, 4 months ago

Demonetisation: Arun Jaitley says ATM recalibration will take 3 weeks, be patient

Firstpost  

ATMs could not have been calibrated because of secrecy issue, explained Arun Jaitley Amid rising anger among people across India over exchanging the scrapped currency, Finance Minister Arun Jaitley on Saturday regretted hardships caused due to withdrawal of high denomination notes but advised the public to be patient as the move will have larger benefits for the economy in long …

Rbi Long Term Notes Jaitley 3 Weeks Patient Atm
After 2 decades, Re 1 notes to make a comeback India TV News
10 years, 1 month ago

After 2 decades, Re 1 notes to make a comeback India TV News

India TV News  

New Delhi: One rupee currency notes are set to make a comeback after two decades, although in a different colour. Unlike other currency notes, which are printed by an arm of the RBI, the one-rupee note was always printed by the government as a substitute for the rupee coin under the Coinage Act. In a statement issued, the central bank …

Currency Rbi Rupee Note Notes Re 1 1 Notes
Deadline to exchange pre-2005 currency notes ends on Jan 1
10 years, 3 months ago

Deadline to exchange pre-2005 currency notes ends on Jan 1

India TV News  

New Delhi: People have only 11-days left to exchange currency notes of various denominations, including 500 and 1,000, which were printed before 2005. The Reserve Bank has so far shredded 144.66 crore such notes valued at Rs 52,855 crore since the launch of the drive to take out the pre-2005 notes from the circulation. On January 22, RBI had announced …

Currency Notes Rbi 2005 Crore Notes
Rupee crashes to new low amid calls for special bond sale
12 years, 10 months ago

Rupee crashes to new low amid calls for special bond sale

Live Mint  

Mumbai: As the rupee crashed past the mark of 55 to the dollar to a new closing low on Monday, calls have increased for special foreign exchange bonds to be sold by the government to stem the seemingly inexorable slide in the Indian currency after the limited impact that Reserve Bank of India measures have had thus far on propping …

India Indian Bank Currency Bond Imd Issue