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The Latest Breaking News from RBI

Urban co-operative banks to have 4-tiered regulatory framework: RBI

MUMBAI: The RBI on Tuesday said it has decided to adopt a simple four-tiered regulatory framework for urban co-operative banks (UCBs) based on size of deposits, with an aim to strengthen their financial soundness.

The Times of India

Kisan Congress’ plea to RBI

Banks urged not to deduct amount from farmers without their consent

The Hindu

Under RBI’s ombudsman scheme, 7,813 complaints received against digital apps and recovery agents

Public can seek redressal through its ombudsman scheme, says Minister in LS

The Hindu

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RBI wants to prohibit cryptocurrencies; govt seeks international collaboration: Nirmala Sitharaman

NEW DELHI: Finance minister Nirmala Sitharaman on Monday said the RBI has expressed concerns over cryptocurrencies saying that they should be prohibited as they can have destabilising effect on the monetary and fiscal stability.

The Times of India

Business: RBI wants govt to prohibit cryptocurrencies, says FM Sitharaman

The RBI mentioned that cryptocurrencies are not a currency because every modern currency needs to be issued by the central bank or the government, Finance Minister Nirmala Sitharaman said. Read more on Dynamite News:

Dynamite News

Explained | Will RBI move help greater trade in rupee?

Which countries are likely to be interested in India’s rupee settlement facility? Will payment issues with Russia ease?

The Hindu

Forex reserves fall $8.062 billion to $580.252 billion

MUMBAI: The country's foreign exchange reserves declined by a massive $8.062 billion to $580.252 billion in the week ended July 8, according to RBI data.

The Times of India

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Momentum in economy holding up better than expected: Finance ministry report

NEW DELHI: India’s macro risks have receded in the last six weeks due to the steps taken by the Centre and the Reserve Bank of India (RBI) and the decline in oil prices due to global recession fears, the finance ministry said in a report on Thursday, asserting that the…

The Times of India

State to go ahead with raising OMBs

₹4,000 crore of ₹9,000 cr projected during the quarter already raised

The Hindu

Rupee hits fresh low of 79.64/$ at close as FIIs continue to exit

MUMBAI: The rupee weakened by four paise to close at a new low of 79.63 in the foreign exchange market on Wednesday. The currency opened strong at 79.55. Dealers said that June inflation numbers coming in at 7.01%, which was better than expected, was a positive.

The Times of India

Uber faced intense scrutiny in India, suggests International Consortium of Investigative Journalists expose

BENGALURU: The Uber Files' expose by the International Consortium of Investigative Journalists (ICIJ) suggests that Uber came under intense scrutiny from RBI, Central Consumer Protection Authority (CCPA), and Indian tax authorities.

The Times of India

Govt watchful of price situation; pointed attack on inflation to continue: Finance minister

NEW DELHI: With consumer price inflation remaining high, finance minister Nirmala Sitharaman on Tuesday said the government is watchful of the price situation and will continue the pointed attack on inflation.

The Times of India

RBI chief signals policy won’t sacrifice growth too much

Reserve Bank of India governor Shaktikanta Das said monetary policy is mindful of the economy’s growth needs, signaling that tightening will be geared to ensure there isn’t a massive slowdown.

The Times of India

At above 7%, retail inflation stays stubborn

Food price inflation, as per the Consumer Food Price Index, eased to 7.75%, from 7.97%, but remained above 8% in urban areas, at 8.04%.

The Hindu

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The Times of India

Retail inflation at 7.01% in June as against 7.04% in May

NEW DELHI: India's retail inflation based on consumer price index (CPI) stood at 7.01% in June, data released by government showed on Tuesday.

The Hindu

The scam faultline is damaging Indian banking

More steps to prevent frauds are needed which include tightening the internal and external audit systems of banks

The Hindu

RBI sets up system to settle trade in rupees

Mechanism may enable Indian exporters to receive advance payment against exports from overseas importers in rupees

The Times of India

RBI introduces mechanism for international trade settlements in rupees

NEW DELHI: The Reserve Bank of India (RBI) on Monday announced certain measures to settle international trades in rupee, in order to promote global trade with emphasis on exports from India.

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The Hindu

Surveillance mechanism to identify illegal loan apps urged

State concerned over steep rise in crimes relating to loan apps

The Times of India

Bangalore University retired professor sues bank after losing Rs 13 lakh to conmen, wins refund

BENGALURU: A retired Bangalore University (BU) professor had not opted for net banking or mobile banking but lost his retirement funds of nearly Rs 13 lakh from his savings bank account to online fraudsters. Denied a refund, the 65-year-old man approached a city consumer court, which has now ordered the…

The Hindu

Data | Making sense of Rupee’s record slump to 79 per dollar

While the rupee has fared better than other emerging market currencies, it is the worst performer among the BRICS countries

Newslaundry

Hafta letters: Abortion terminology, discussion quality, saying goodbyes

I didn’t see any letters read out for Let’s Talk About, so I’ve sent it to Hafta. I would like to offer some of my thoughts on the LTA religion discussion. The question as to why religion exists has been answered in The Sapiens by Dr YNH. It’s the same…

The Times of India

RBI imposes restrictions, withdrawal caps on 4 co-op banks

MUMBAI: The Reserve Bank on Friday imposed several restrictions, including a cap on withdrawals for the depositors, on four cooperative banks for six months given their deteriorating financial positions.

The Times of India

RBI imposes penalties on Federal Bank, Bank of India

MUMBAI: Reserve Bank of India (RBI) on Friday said it has imposed a penalty of Rs 5.72 crore on Federal Bank for deficiencies in regulatory compliance.

The Hindu

RBI cautions TS and other States to reduce borrowings

TS example quoted in longer term bonds as they reduce rollover risks

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