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The Latest Breaking News from RBI

Delhi HC dismisses PIL against withdrawal of ₹2,000 notes

The Delhi High Court on July 3 dismissed a public interest litigation (PIL) challenging the Reserve Bank of India (RBI’s) decision to withdraw ₹2000 denomination currency notes from circulation.

The Hindu

AP Mahesh Co-operative Urban Bank Ltd penalised for lapses leading to loss of ₹12.48 crore

The Hindu

Apple In Talks To Launch Its Credit Card In India With HDFC Bank

Apple CEO Tim Cook met with HDFC Bank Chief during his April visit to India to discuss plans for the launch.

Zenger

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Raghuram Rajan on why democracy is ‘biggest advantage’ for India’s economy

In a conversation with Newslaundry CEO Abhinandan Sekhri, former RBI governor Raghuram Rajan spoke about the role of artificial intelligence in economic development, competition in the news industry, and India’s response to environmental threats, among other issues.

Newslaundry

Banks cannot use muscle power to recover loan amount, says Madras High Court

If banks have to recover outstanding loan amount, the same has to be recovered in accordance with the procedure established by law. Coercive method of recovery by private agents, if appointed by banks, is not permissible. The banks certainly cannot use muscle power to recover the loan amount, the Madras…

The Hindu

Former RBI Governor Raghuram Rajan’s paper lacks understanding of economics, says Minister Rajeev Chandrasekhar

RBI Governor Raghuram Rajan was met with a furious response from Minister Union Minister Rajeev Chandrasekhar when the former scrutinised the Union Government’s Production-Linked Incentive (PLI) scheme for mobile phone manufacturing on LinkedIn.

The Hindu

Data | Less than half of urban consumers pessimistic about the economy

When asked about their current perception of the economy, 48.9% said it has worsened

The Hindu

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Base boost: On inflation and the consumer

Policymakers have their task cut out to convince consumers that inflation will be tamed so as to not erode their purchasing power and savings

The Hindu

Did Modi Government pressurise RBI to help loan defaulters: Congress

Congress questioned the latest Reserve Bank of India (RBI) instructions to the banks allowing for “technical write-offs” for accounts categorised as wilful defaults and allowing such accounts to take fresh loans after a cooling-off period.

The Hindu

Bank unions oppose RBI's decision to allow compromise settlement for wilful defaulters

Bank unions AIBOC and AIBEA opposed RBI’s move to allow lenders to settle loans of wilful defaulters under compromise settlement.

The Hindu

India leads global digital payments with 89.5 million transactions in 2022: MyGovIndia data

In 2022, India accounted for 46% of the global real-time payments, adding that the digital payment transactions in India are more than the other four leading countries combined.

The Hindu

Unwavering focus: On the Monetary Policy Committee’s approach to policy

Achieving durable disinflation must remain a non-negotiable goal, especially amid widening income inequality and high unemployment

The Hindu

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

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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:

The Hindu

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

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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

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

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