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The Latest Breaking News from RBI

Inflation peaked at 7.8%, 4% target by FY24: RBI governor

MUMBAI: Reserve Bank of India (RBI) governor Shaktikanta Das has said inflation expectations have been anchored after peaking at 7.8% in April 2022. The governor also said that the central bank would like to bring down inflation to within 4% over a time cycle of about two years or so.

The Times of India

Malappuram DCB-Kerala bank merger: RBI nod expected

THIRUVANANTHAPURAM

The Hindu

DICGC to pay depositors of 17 co-operatives in October

MUMBAI: The Deposit Insurance and Credit Guarantee Corporation (DICGC) will be making payments to the eligible depositors of 17 co-operative banks in October.

The Times of India

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No move to levy charges on UPI services: Finance ministry

NEW DELHI: There is no move in the government to levy any charges on UPI (Unified Payments Interface) transactions, the finance ministry said on Sunday. It asserted concerns of service providers for cost recovery have to be met through other means.

The Times of India

UPI costs must be met through other means: Centre

Earlier, RBI had plans to levy charges for payment systems including UPI, NEFT and IMPS

The Hindu

Freebies come at a price: economist

RBI’s Monetary Policy Committee member Ashima Goyal says voters should be told about financing and trade-offs involved

The Hindu

Government must release White Paper on privatisation of public banks: Congress

It has forced RBI to become the “Reverse Bank of India”, Congress says

The Hindu

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'Repeated summonses': Kerala HC asks ED to respond

KOCHI: A high court bench of Justice VG Arun on Tuesday asked the Enforcement Directorate (ED) to respond to a petition filed by Kerala Infrastructure Investment Fund Board (KIIFB) challenging repeated summonses issued to its officers by the central agency.

The Times of India

11% growth over next decade could make India world’s second largest economy by 2031: RBI Deputy Governor

“Currently, India is the third largest economy in the world in PPP terms, with a share of 7% of global GDP after China and the U.S.,” says Michael Debabrata Patra.

The Hindu

Banks to face consequence for unacceptable practices of loan recovery agents

RBI clamps down on ‘intimidation’

The Hindu

The buyer may wait a little longer

RBI decision to increase repo rate will have its impact.

The Hindu

Centre re-nominates 4 independent directors on central board of RBI

Further, Iyer and Chaturvedi have been re-appointed as a Member of the Northern Local Board and on the Eastern Local Board of the Reserve Bank of India for a further period of four years after completion of their present tenure on September 18, 2022, or until further orders. Read more…

Dynamite News

KIIFB case: Either state the nature of offence or recall summons, Thomas Isaac tells ED

ED is the political tool of the BJP, alleges the former finance minister

The Hindu

RBI issues strict norms for digital lending to curb malpractice

MUMBAI: The RBI on Wednesday mandated that digital loans must be credited directly in the bank accounts of borrowers and not through any third party, as it put in place strict norms to curb rising malpractice in digital lending space.

The Times of India

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The Times of India

HDFC hikes lending rate by 25 basis points; home loan to be costlier

NEW DELHI: Mortgage lender HDFC Ltd on Monday announced an increase in its benchmark lending rate by 25 basis points (bps), a move that will make loans dearer for both existing and new borrowers.

The Times of India

RBI prescribes norms for small finance banks looking to deal in forex

MUMBAI: The Reserve Bank on Monday said small finance banks which have completed two years of operations and have a minimum net worth of Rs 500 crore can deal in foreign exchange.

The Times of India

Explainer: What India’s external debt position tells about its economy

NEW DELHI: A depreciating rupee and contracting foreign exchange reserves raised concerns about India's external debt position.

The Hindu

Focused on inflation: On the RBI’s rate hike

A rate increase was needed to prevent inflation expectations from stymieing growth

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The Hindu

Senior citizen loses ₹2.20 lakh online after call from man posing as RBI staffer

Neelam Singh (62) got a call on his mobile phone on July 21.

The Times of India

ICICI Bank, PNB hike external benchmark based lending rates

NEW DELHI: Two major banks -- ICICI Bank and PNB -- raised their lending rates after the RBI increased the benchmark interest rate by 0.50 per cent on Friday.

The Times of India

Consumer confidence continues to improve in July, marginal rise in future expectations: RBI report

NEW DELHI: Consumer confidence continued to recover in July, but remained in pessimistic zone, the consumer confidence survey released by Reserve Bank of India (RBI) showed on Friday.

The Times of India

Loan EMIs to go up after RBI hikes rates by 50 basis points to 5.4%

NEW DELHI: Loan EMIs are set to rise, with the Reserve Bank of India on Friday hiking key repo rate by 50basis points (bps) to 5.4 per cent in a bid to tame inflation in the country and support growth.

The Hindu

Is the declining rupee a crisis or an opportunity?

There is an expectation of further depreciation, which can lead to further capital outflows

The Times of India

Premature redemption under Gold Monetisation Scheme payable only in rupees: RBI

MUMBAI: The Reserve Bank on Thursday said premature redemption under the Gold Monetisation Scheme will be payable in rupees, while on maturity the depositor may choose to opt for physical gold.

The Times of India

RBI's MPC starts monetary policy review, may raise interest rate on Friday

MUMBAI: The Reserve Bank of India's rate-setting panel on Wednesday began its three-day deliberations on the next bi-monthly monetary policy amid expectations of at least a 35-basis-point hike in the interest rate to check high inflation.

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