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Latest Articles in Reserve Bank of India RBI

RBI's New Rules On Interchange Fee, 24/7 Bulk Clearing Facility Functional

An interchange fee is a fee charged by banks to the merchant who processes a credit card or debit card payment.

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Macro Data, RBI Policy To Drive Markets This Week, Say Analysts

Among major earnings announcements, HDFC, PNB, Adani Ports and Special Economic Zone, Bank Of India, Bharti Airtel, State Bank Of India, and M&M would release their financial results.

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Data Storage Norms: Mastercard Submits Audit Report To RBI

The restrictions were put in place because of the company's failure to comply with local data storage norms that require payments companies to store data related to Indian customers only in the country.

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Non-Food Bank Credit Grows 5.9 Per Cent In June: RBI Data

Growth in loans to the services sector decelerated to 2.9 per cent in the reporting month from 10.7 per cent in June 2020, mainly due to contraction/deceleration in credit growth to commercial real estate, NBFCs and tourism, hotels and restaurants.

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Forex Reserves Down By USD 1.581 Bn To USD 611.149 Bn

The reserves had reached a lifetime high of USD 612.730 billion after rising by USD 835 million in the previous week ended July 16, 2021.

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RBI Cancels Licence Of Madgaum Urban Co-Operative Bank Ltd, Margao

The Office of Registrar of Cooperative Societies, Goa, has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank

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RBI Allows Non-Bank Psps To Participate In Centralised Payment Systems

PSPs include prepaid payment instrument (PPI) issuers, card networks, white label ATM (WLA) operators and trade receivables discounting system (TReDS) platforms.

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Digital Payments Up 30.2 % In FY21: RBI Data

The Reserve Bank had earlier announced construction of a composite Reserve Bank of India - Digital Payments Index (RBI-DPI) with March 2018 as base to capture the extent of digitisation of payments across the country.

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No Of Wilful Defaulters Rises To 2,494: FM

RBI has further apprises that the total number of unique wilful defaulters reported by PSBs was 2,017 as on March 31, 2019, 2,208 as on March 31, 2020 and 2,494 as on March 31, 2021

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Higher Inflation A Transitory Hump, To Help RBI Remain Dovish In Aug Review: Report

The repo rate has been at record low of 4 per cent since June 2020, after lowering it by 115 bps during the first half of the pandemic-hit year, and the reverse repo, which has become the effective rate given the surplus liquidity, at 3.35 per cent, after it was slashed by 155 bps during the same period, resulting in an asymmetric +25/-65 bps policy corridor.

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RBI Central Board Short Of 9 Non-Official Directors

The government is yet to appoint seven non-official directors from the category of people of eminence from various fields while representations from local board from western and southern areas are missing.

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RBI Eases Norms For Loans Given By Banks To Directors Of Other Banks

Sanction by the board/management committee for grant of loans to a company is required, where the relative of a director holds substantial interest which is defined as 10 per cent of paid-up capital or Rs 5 lakh, whichever is less.

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India's Inflation Situation 'Very Alarming'; Needs Better Curation Of Policy Between RBI, Finmin: Kaushik Basu

The wholesale price-based inflation eased marginally to 12.07 per cent in June as crude oil and food items witnessed some softening in prices, while retail inflation slipped a tad to 6.26 per cent in June although it remained above the comfort level of the Reserve Bank for the second consecutive month in a row.

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RBI Contemplating Pilot Launch Of Digital Currency In Near Future: Dy Guv

The Deputy Governor further said legal changes would be necessary as the current provisions have been made keeping in mind currency in a physical form under the Reserve Bank of India Act.

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RBI Launches Two Key Surveys

The SIOS survey will assess the business situation for the current quarter from selected companies in the services and infrastructure sectors in India and their expectations for the ensuing quarter.

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