Indian Economic Growth May Decelerate to 6.1% in CY24: Moody’s Analytics
Moody’s Analytics pegs the Indian economic growth to slow down to 6.1% for the calendar year 2024 (CY24), a falloff from 7.7% in CY23, on the foot of sluggish recovery…
RBI Tightens Grip on Paytm Payments Bank, Freezes Deposits
The Reserve Bank of India (RBI) has imposed further restrictions on Paytm Payments Bank Limited (PPBL), effectively freezing its ability to accept new deposits, top-ups, and offer key banking services…
RBI mandates private banks to have at least 2 Whole-Time Directors
In a move to strengthen governance and succession planning in private banks, the Reserve Bank of India (RBI) on Wednesday has mandated that they have at least two Whole-Time Directors…
Macroeconomic fundamentals of India’s economy help it to continue to be robust, says RBI Governor
Shaktikanta Das, governor of the RBI, stated on Friday that despite a hostile and uncertain international environment, India’s economy continues to remain resilient, drawing strength from its macroeconomic fundamentals. Das…
Central Bank Digital Currency launch is a landmark moment in the history of currency: RBI Governor
RBI Governor Shaktikanta Das on Wednesday said that the e-rupee launch was a landmark moment in the history of currency in the country as it will transform the way business…
Finance ministry initiates crackdown on illegal loan apps, RBI to prepare a ‘whitelist’ of all the legal apps
Finance Minister Nirmala Sitharaman chaired a meeting on Thursday to discuss the various issues related to ‘illegal loan apps’ which do not fall under purview of the regular banking channels.…
RBI Announces Key Interest Rate Hike By 50 bps To 5.40% To Reign Unbridled Inflation
The Reserve Bank of India (RBI) announced increasing its lending rate by 50 basis points to 5.40 percent on Friday. RBI has increased the interest rate for a third consecutive…
India’s Retail Inflation To Top RBI’s Tolerance Band Until December, But Monetary Policy Holds Crucial Role To Play: RBI Governor
India’s apex bank is on the path to bringing ease to prices, but the retail inflation rate is likely to remain above the upper limit of the mandated target band…
India’s Current Account Deficit Decreases To $13.4 Billion In Q4FY22
India’s current account deficit (CAD) ebbed to $13.4 billion in January-March 2022 as against $22.2 billion in October-December 2021, according to Balance of Payment data released by the Reserve Bank…
RBI’s New Rules For Debit, Credit Card Transactions Effective From July 1, 2022. Check Details!
In a move to bid customer data protection, the central bank of India introduced some changes in the debit and credit card tokenization rules. The new norms say online merchants…