Articles for India Rbi

Bank Holidays August 2024: Banks to remain closed for 13 days THIS month | Check state-wise list
4 months, 3 weeks ago

Bank Holidays August 2024: Banks to remain closed for 13 days THIS month | Check state-wise list

India TV News  

Bank Holidays in August 2024: Banks across the country will remain closed for 13 days in August this year due to national and regional holidays, as well as weekend closures. According to the Reserve Bank of India holiday list, banks will be closed for a total of 13 days this month, including the second and fourth Saturdays, as well as …

Holidays Weekend Bank Closure State Aug 13 Days
RBI brings back 100 tonnes of India's gold held in UK, more to follow: How domestic gold reserves shows a robust. confident economy
6 months, 3 weeks ago

RBI brings back 100 tonnes of India's gold held in UK, more to follow: How domestic gold reserves shows a robust. confident economy

Op India  

In a significant move, the Reserve Bank of India has brought back 100 tonnes of gold to its domestic vaults for the first time since early 1991. RBI bringing back chunks from its gold reserves in the Bank of England reflects India’s economic strength and confidence. In response to the devastating economic situation, the Chandra Shekhar government decided to pledge …

India Russia Sanctions Indian Gold Bank Venezuela
Ex-RBI Governor bats for imposing restraints on freebies by political parties, gives THESE suggestions
8 months ago

Ex-RBI Governor bats for imposing restraints on freebies by political parties, gives THESE suggestions

India TV News  

Former Reserve Bank of India Governor D Subbarao said the Modi government should come out with a 'White paper' to generate consensus among political parties on the issue of giveaways or freebies. On some of the states crossing Fiscal Responsibility and Budget Management limits, he said states and the central government should maintain fiscal discipline and the FRBM targets should …

Political Political Parties India Rbi Subbarao
RBI ban on Bank of Baroda World app: Finance ministry's likely plan on frauds
8 months, 1 week ago

RBI ban on Bank of Baroda World app: Finance ministry's likely plan on frauds

Hindustan Times  

Union finance ministry may propose stricter measures to protect citizens from cyber fraud, it was reported. This comes after an increase in incidents of frauds, including the Bank of Baroda World app scam, the Times of India reported citing sources who “mentioned a recent inter-ministerial meeting focused on bolstering cybersecurity and tackling financial fraud”, it noted. In October 2023, the …

Bank Report Ban Finance Ministry India Rbi Bank Of Baroda Business Correspondents
Ahead Of Financial Year Closing Offices Dealing With Govt Business To Remain Open on March 30, 31: RBI
9 months ago

Ahead Of Financial Year Closing Offices Dealing With Govt Business To Remain Open on March 30, 31: RBI

ABP News  

The Reserve Bank of India has announced that its offices handling government business and designated branches of agency banks will remain open during normal working hours on both Saturday and Sunday, a move aimed at providing convenience to taxpayers. The decision comes as part of special measures taken for the current financial year due to the annual closing of government …

Transactions India Rbi
What options are available after deadline to exchange Rs 2,000 notes is over? | DETAILS
1 year, 2 months ago

What options are available after deadline to exchange Rs 2,000 notes is over? | DETAILS

India TV News  

Rs 2,000 notes deadline over: The last day for the public to avail of exchange or to deposit high-value Rs 2,000 banknotes at the banks was Saturday. According to the RBI, Rs 2,000 notes can continue to be exchanged by individuals or entities at the 19 RBI Issue Offices up to a limit of Rs 20,000 at a time; or …

2000 Deadline Notes Exchange Legal Tender Banknotes India Rbi
Top news of the day: September 30, 2023
1 year, 2 months ago

Top news of the day: September 30, 2023

The Hindu  

₹2,000 currency note can be deposited in RBI Issue Offices after October 7 The Reserve Bank of India has extended the deadline for exchange and deposit of ₹2,000 bank notes until October 7, adding that the denomination will continue to be legal tender even after the date. Hangzhou Asian Games | India upstages Pakistan to win gold in men’s team …

India Pakistan Congress Indian Power State Bjp
India inflation eases significantly in August. Is the worst behind?
1 year, 3 months ago

India inflation eases significantly in August. Is the worst behind?

Live Mint  

Consumer Price Index -based inflation, or retail inflation, moderated to 6.83 per cent in August from a 15-month high of 7.44 per cent in July, thanks to a fall in vegetable prices, offering relief to the Reserve Bank of India and bond investors even though it remained above the RBI's target range of 2-6 per cent. As Mint reported earlier, …

Food Inflation Price Food Inflation Cent India Rbi
RBI panel sets global road map for rupee
1 year, 5 months ago

RBI panel sets global road map for rupee

Live Mint  

MUMBAI : A Reserve Bank of India appointed committee on Wednesday has recommended a roadmap to achieve internationalisation of rupee including efforts for inclusion in the International Monetary Fund’s Special Drawing Rights basket. It also recommended integrating Indian payment systems with other countries for cross-border transactions and strengthening financial markets by fostering a global 24×5 INR market and promoting India …

International Settlement India Rbi Inr Transactions
CBDC Pilot Expanded, To Include More Banks And Locations, Says RBI
1 year, 6 months ago

CBDC Pilot Expanded, To Include More Banks And Locations, Says RBI

ABP News  

The Reserve Bank of India on Tuesday said the scope of the Central Bank Digital Currency pilot is being expanded gradually to include more banks and locations. The pilot began with four banks -- State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank -- while four other banks -- Bank of Baroda, Union Bank of India, HDFC …

Settlement Bank Digital Banks Rupee Pilot Cbdc
Demonetisation in India in 10 stories: Understanding the Rs. 2000 ban
1 year, 7 months ago

Demonetisation in India in 10 stories: Understanding the Rs. 2000 ban

The Hindu  

Published : May 20, 2023 20:21 IST - 1 MIN READ The Reserve Bank of India made a significant announcement on May 19 regarding the withdrawal of the highest denomination currency note in circulation, the Rs 2,000 note. While reaffirming its status as legal tender, the central bank stated that existing Rs 2,000 notes could be deposited or exchanged in …

Social Media Bank Note India Rbi 2000 Ban
How much money can parents send to kids Abroad?
1 year, 8 months ago

How much money can parents send to kids Abroad?

Live Mint  

India had limited foreign exchange reserves post-independence. Examples of permissible transactions are: higher education in foreign universities, medical treatment abroad, maintenance of close relatives staying outside of India, investments in securities abroad, emigration, going abroad for employment, etc. Remittance is prohibited for purchase of lottery tickets/sweep stakes, remittances for the purchase of foreign currency convertible bonds issued by Indian companies …

Education Parents Million Foreign Indians Tuition Fees Kids Abroad
RBI renews authorization for white label ATMs to Vakrangee
1 year, 10 months ago

RBI renews authorization for white label ATMs to Vakrangee

Live Mint  

The Reserve Bank of India has provided the Renewal of Authorization to Vakrangee Ltd, said the company on Monday. The central bank has extended the validity of authorization issued to Vakrangee to setup, own and operate White Label ATMs in India. The company currently operates 6,283 White Label ATMs and 77 per cent of these are in Tier 4 and …

Bank Atms India Rbi White Label Atms Vakrangee Vakrangee Kendra
Falling reserves and the bogey of the RBI’s role
2 years, 2 months ago

Falling reserves and the bogey of the RBI’s role

The Hindu  

There is a widespread misconception that the Reserve Bank of India has been depleting India’s foreign exchange reserves to defend the rupee. The RBI cannot simply fritter away India’s forex reserves, held mostly in dollars, by charging its “nostro” account with the Federal Reserve Bank of New York, New York. Central bank as regulator, player and jury The RBI’s intervention …

Market Bank Billion Exchange Dollars Forex Reserves
Reserve Bank of India issues consolidated guidelines on unhedged foreign currency exposure
2 years, 2 months ago

Reserve Bank of India issues consolidated guidelines on unhedged foreign currency exposure

India TV News  

Highlights Reserve Bank of India revises rules on foreign currency exposure of banks on October 11 RBI modified, consolidated guidelines for banks on unhedged foreign currency exposures RBI said a comprehensive review of extant guidelines has been undertaken Reserve Bank of India news : The Reserve Bank of India on Tuesday modified and consolidated guidelines for banks on unhedged foreign …

Rbi Exposure Reserve Bank Foreign Currency Reserve Bank Of India Consolidated Guidelines Unhedged
Digital currency to bring down time, cost for cross-border transactions: RBI’s Sankar
2 years, 3 months ago

Digital currency to bring down time, cost for cross-border transactions: RBI’s Sankar

The Hindu  

Central bank digital currency, to be launched this year, could become a tool for reducing time and cost for cross-border transactions, Reserve Bank Deputy Governor T. Rabi Sankar said on Wednesday. Explained | RBI’s digital currency plans Observing that India has an excellent, cheap and fast domestic payments system, he said the cost of cross-border payment, however, is still high. …

India Digital Digital Currency Payment Rbi Cbdc Sankar
How RTGS and NEFT has changed digital payment scenario in India
2 years, 3 months ago

How RTGS and NEFT has changed digital payment scenario in India

Firstpost  

India has made astounding progress in the payment ecosystem and has outrun the rest of the nations in terms of volume, value and the real-time nature of payments Automation, digitalisation and information technology have completely transformed the world’s industries and enterprises. The Reserve Bank of India has been patronizing the largest clearing and settlement system in the globe and reaped …

Payments Settlement Payment Volume India Rbi Neft Transactions Changed Digital
RBI to iron out volatile, bumpy movements to ensure rupee finds its level: Das
2 years, 5 months ago

RBI to iron out volatile, bumpy movements to ensure rupee finds its level: Das

The Hindu  

Reserve Bank of India Governor Shaktikanta Das stressed on Friday that while the central bank was committed to ensuring that the rupee finds its level in line with its fundamentals and does not target any particular level for the rupee, it would intervene decisively to iron out any volatile or bumpy movements in the currency’s exchange rate. “I would like …

Das Rupee Hedge India Rbi
RBI’s gameplan for conducting international trade settlements in rupees
2 years, 5 months ago

RBI’s gameplan for conducting international trade settlements in rupees

Live Mint  

As the rupee falls against the US dollar due to global uncertainties, the Reserve Bank of India on Monday introduced a rupee settlement system for international trade. “In order to promote the growth of global trade with an emphasis on exports from India and to support the increasing interest of the global trading community in INR, it has been decided …

Global India Russia International Trade Indian Global Trade Iran
Credit Card: RBI Extends Deadline to Implement New Rules to October 1; Know the Changes
2 years, 6 months ago

Credit Card: RBI Extends Deadline to Implement New Rules to October 1; Know the Changes

News 18  

The Reserve Bank of India on Tuesday extended the timeline to implement various provisions related to credit card issuance till October 1. Moreover, the terms and conditions for payment of credit card dues, including the minimum amount due, shall be stipulated, the Reserve Bank of India said. Credit Card Rules to Change from July 1 Earlier in April, the Reserve …

Credit Bank Credit Card Statement Card India Rbi Card Issuers
Debit Card, Credit Card Online Payment Rule Changes from Next Month: Know Details
2 years, 6 months ago

Debit Card, Credit Card Online Payment Rule Changes from Next Month: Know Details

News 18  

Debit, Credit Card Tokenisation: From next month, every Indian who does online transactions using a debit or credit card will have to remember their card details every time they make a payment as these rules are going to change from July 1. From this date, the Reserve Bank of India, or RBI, which is in charge of setting banking rules …

Credit Rbi Rule Debit Card Card Details Debit Merchant
This age of inflation
2 years, 8 months ago

This age of inflation

The Hindu  

Reserve Bank of India Governor Shaktikanta Das announced in early April that the central bank will course-correct. Inflation reached a 17-month high of nearly 7% in the month of March, breaching the target level of 4% that the government has set for the RBI, as also the upper tolerance level of 6%. Policy choices What made high inflation stubborn isn’t …

Economy Policy Growth Russia Inflation High High Inflation
How a digital rupee could transform India
2 years, 10 months ago

How a digital rupee could transform India

Hindustan Times  

The story you often hear about the Industrial Revolution in 18th century England is one of technological transformation. In one variant, the central bank will become the sole deposit-taking institution, transforming itself into a citizens’ bank. The key design imperative in the beta variant is to prevent a competition for deposits between commercial banks and the central bank so that …

Bank Digital Central Banks Central Banks Variant Alpha
RBI to issue Digital Rupee in FY23: Sitharaman
2 years, 10 months ago

RBI to issue Digital Rupee in FY23: Sitharaman

Deccan Chronicle  

Mumbai: The Reserve Bank of India will issue the much-awaited digital rupee in the next financial year, finance minister Nirmala Sitharaman said in the Union Budget on Tuesday. The digital rupee or the Central Bank Digital Currency will be based on blockchain technology, the tech behind Bitcoin and other popular cryptocurrencies. Sitharaman said, "Introduction of Central Bank Digital Currency will …

Bank Digital Currency Sitharaman Bill Cbdc India Rbi