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The Latest Breaking News from RBI

Supreme Court denies immediate intervention in plea challenging ₹2,000 notes' exchange

The Supreme Court on June 9 refused to entertain immediately a plea by advocate Ashwini Upadhyay challenging the notifications issued by the Reserve Bank of India (RBI) and State Bank of India (SBI) permitting the exchange of ₹2,000 currency notes without requirement of any identity proof.

The Hindu

RBI Governor: About Rs 1.80 lakh crore worth of Rs 2,000 notes have so far come back in banks

As on 31 March 2023, Rs 2,000 notes worth Rs 3.62 lakh crore were in circulation. Read further on Dynamite News:

Dynamite News

RBI keeps repo rate unchanged at 6.5 per cent as inflation softens

Repo rate refers to the interest rate at which the RBI lends to commercial banks. Read further on Dynamite News:

Dynamite News

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RBI holds rates, vows to keep price stability

The Reserve Bank on June 8 decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50% and retained the GDP growth projection for current fiscal year at 6.5%, on the back of supportive domestic demand conditions.

The Hindu

Supreme Court seeks report from Registry on urgent listing of plea challenging RBI decision on ₹2,000 note exchange

The Supreme Court on June 7 sought a report from its registry on the issue of urgent listing of a plea challenging the notifications enabling the exchange of ₹2,000 currency notes without any requisition slip and ID proof.

The Hindu

Private investments to move from promise to delivery this year: CII chief

The CII chief indicated the need for India to review its stance on import tariffs to attract more investments

The Hindu

SC refuses urgent listing of plea challenging RBI decision on ₹2,000 note exchange

The Supreme Court on June 1, 2023, refused to list for urgent hearing a plea challenging the notifications enabling exchange of ₹2,000 denomination currency notes without any requisition slip and ID proof.

The Hindu

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Economists see India’s first rate cut in 2024 for durable growth

NEW DELHI: Economists see India’s central bank holding interest rates this year before cutting 25 basis points in the first quarter of next year as inflation moderates and the economy stays resilient, according to the latest Bloomberg survey results.

The Times of India

Morning Digest | Wrestlers defer plan to immerse medals after Naresh Tikait’s appeal; Amit Shah appeals for 15-day peace in Manipur, and more

The Hindu’s Morning Digest brings readers a select list of stories to start the day

The Hindu

The short history of a large note

India’s monetary system has taken a serious credibility hit due to frequent changes and U-turns in currency management

The Hindu

Delhi HC reserves order on plea against withdrawal of ₹2,000 currency banknotes

The petitioner submitted that the Reserve Bank of India cannot withdraw from circulation or discontinue banknotes and only the Central Government is vested with such powers

The Hindu

Delhi HC dismisses plea challenging decision over ₹2,000 banknote exchange

The Delhi High Court on May 29 dismissed a plea challenging notifications enabling exchange of ₹2,000 currency notes without any requisition slip and ID proof.

The Hindu

Morning Digest | Recep Tayyip Erdogan wins historic Turkey runoff vote; IPL 2023 final moved to reserved day due to persistent rains, and more

The Hindu’s Morning Digest brings readers a select list of stories to start the day

The Hindu

Fuel outlets in T.N. to accept ₹2,000 notes till RBI deadline

The Tamil Nadu Petroleum Dealers Association (TNPDA) has urged customers not to believe messages on social media that fuel outlets are accepting ₹2,000 denomination notes only if motorists refuel for that value

The Hindu

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Dynamite News

Indian economy to surpass 7 per cent growth in FY 23: SBI research report

The Indian economy is on track to surpass 7 per cent growth rate in Fiscal Year 2023 with manufacturing being the key driver, according to a report released by the State Bank of India. Read further on Dynamite News

The Times of India

Indian economy to surpass 7% growth in FY 23: SBI research report

NEW DELHI: The Indian economy is on track to surpass 7 per cent growth rate in Fiscal Year 2023 with manufacturing being the key driver, according to a report released by the State Bank of India.

The Hindu

Fuel dealers in Punjab says facing ‘difficult situation’ similar to 2016 due to withdrawal of ₹2000

After the Reserve Bank of India (RBI) announced the withdrawal of ₹2,000 banknotes from circulation in pursuance of its ‘Clean Note Policy’, the fuel dealers in Punjab on Thursday said they were facing a “difficult situation” similar to the year 2016, when demonetisation was implemented.

The Hindu

Morning Digest | Ron DeSantis launches 2024 presidential bid to challenge Donald Trump; GDP growth may cross 7% in 2022-23: RBI Governor, and more

The Hindu’s Morning Digest brings readers a select list of stories to start the day

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The Hindu

Letters to The Editor — May 25, 2023

Readers’ mail to The Hindu’s Letters to The Editor

The Hindu

The fundamental value of the rupee

By casting a shadow on the public’s perception of what is legal tender, the RBI is destabilising confidence in the rupee

Dynamite News

PIL in Delhi HC challenges RBI decision to withdraw Rs 2000 denomination banknotes

A Public Interest Litigation (PIL) has been moved in Delhi High Court seeking direction to quash the Reserve Bank of India (RBI) Notification dated May 19, 2023, whereby the RBI has taken a decision to withdraw the Rs 2000 denomination banknotes from circulation under the clean note policy or otherwise.…

The Hindu

Centre should first explain why ₹2,000 note was introduced: Digvijaya

The RBI issued the withdrawal of all ₹2,000 currency notes on May 19, and has given the public till September 30 to deposit or exchange all the notes at banks.

The Hindu

Exchange of ₹2,000 notes begins; business as usual at banks in Telangana

High net-worth individuals, those dealing in realty, businessmen, liquor outlets, petrol bunks, fertilizer shops, farmers with large land holding primarily were among those who opted to deposit, ostensibly because there was no limit on such remittances.

The Hindu

Do not turn away customers who pay using ₹2000 notes: Consortium of Indian Petroleum Dealers

The Consortium of Indian Petroleum Dealers (CIPD), a body representing over 60,000 fuel outlets across the country, has urged dealers not to turn away customers who pay using ₹2,000 notes and, instead, handle them on a case-by-case basis to avoid complaints

The Hindu

Telangana continues to depend on financial accommodation facilities provided by RBI to meet requirements

In view of poor revenue receipts the government had to avail the financing options of the RBI to fund its spree of welfare programmes through most of March in the last fiscal

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