RBI announces launch of new ₹500 notes
RBI has announced the launch of new ₹500 note featuring the signature of the governor with the printing year 2017.
India’s retail inflation in May reaches to a 5-year low
Department of statistics announced that India's inflation rate in May 2017 reached to a 5 year low to 2.1%, compared to 2.99% in April 2017.
Home loans to become cheaper after RBI cuts provisions on individual loans
Reserve Bank of India has decided to cut down risk weight and provisions for individual home loans. This is set to cut down home loan EMIs.
Reserve Bank of India keeps repo rate unchanged at 6.25%
Reserve Bank of India has decided to retain the ongoing rate of repo rate, Statutory Liquidity Ratio and cash reserve ratio.
Amazon Pay plans to onboard government agencies to increase marketshare
Amazon Pay is in talks with government agencies to partner for their payment collection. This includes electricity departments and insurance companies.
Inducing funds no solution to increasing debt problem : RBI
Reserve Bank of India has clarified that infusing more funds in banks will not solve the problem of piling up debt and added that banks should take initiatives to recover…
RBI’s new moves may force mergers or shut down of banks
Reserve Bank of India is keeping a close watch over the banks with more than 6% of assets in bad loans. An action against these banks might be taken soon.
Open to sanction more funds for recapitalising banks : Arun Jaitley
Arun Jaitley has mentioned that the government is open to talk about proposal of providing more funds to banks in order to ensure recapitalisation.
No plan to withdraw ₹2000 notes : Arun Jaitley
In a written reply, Arun Jaitley on Friday stated in Lok Sabha that there was no plan of withdrawing ₹2000 banknote.
No plans to launch INR 1000 notes : Shaktikanta Das
Economic Affairs Secretory Shaktikanta Das on Wednesday denied the rumors indicating relaunch of INR 1000 notes and said that the focus is on the production of INR 500 notes.