New Delhi: India’s Gross Domestic Product (GDP) is projected to grow at 6.4 per cent in the financial year 2024-25 down from 8.2 per cent growth recorded in 2023-24, according to the first advance estimates released by the Ministry of Statistics on Tuesday. The projection is lower than the recent RBI’s estimate of 6.6 per…
New Delhi: AU Small Finance Bank (AUSFB) on Tuesday submitted an application to the RBI seeking approval for a universal bank licence. The RBI in April invited applications from small finance banks meeting specified criteria, including a minimum net worth of Rs 1,000 crore, for becoming regular or universal banks. AUSFB submitted an application to…
Read More “AU Small Finance Bank Submits Application To RBI For Universal Bank Licence” »
The Rs 2000 banknotes continue to be legal tender, says the RBI. RBI says Rs 2,000 banknotes in circulation, which amounted to Rs 3.56 lakh crore as at the close of business on May 19, 2023, has now declined to Rs 7,961 crore The Reserve Bank of India (RBI) on Thursday said 97.76 per cent…
Read More “97.76% of Rs 2000 Banknotes Returned, Rs 7,961 Crore Yet To Be Deposited: RBI – News18” »
New Delhi: In a move towards enhancing digital security, the Reserve Bank of India (RBI) has expanded the scope of tokenization for debit and credit cards. Previously limited to merchant applications or websites, individuals can now tokenize their cards conveniently through the Internet and mobile banking services. The RBI has permitted the use of Card-on-File…
Read More “RBI Expands Card Tokenization To Internet And Mobile Banking: Check” »
Last Updated: December 08, 2023, 10:08 IST RBI MPC Meeting December 2023: Reserve Bank of India (RBI) on Friday, December 8, kept repo rate unchanged, maintaining status quo on the previous policy. RBI Governor Shaktikanta Das said that the monetary policy committee has decided to keep repo rate at 6.5 per cent unanimously. With RBI…
Read More “RBI Keeps Repo Rate Unchanged, Home Loan EMIs Likely to Remain The Same – News18” »
New Delhi: In a significant move to enhance the work-life balance for banking professionals, India’s banking sector, through the Indian Banks Association (IBA), has put forth a proposal to declare all Saturdays as banking holidays. The union finance ministry confirmed this proposal in Parliament, shedding light on the potential shift from the current two Saturdays off…
Read More “Banks Will Open Five Days In A Week? Check What Banking Association Has Demanded” »
Implemented by the RBI on April 1, 2016, MCLR serves as the minimum lending rate below which a bank is not allowed to lend. Source link
New Delhi: Staples like cereals and pulses are unlikely to offer relief in the near term amid hardening international prices and subdued sowing domestically. This raises the likelihood of inflation remaining above 7 per cent in August, said a research report by broking firm, Prabhudas Lilladher. In July, India witnessed a surge in CPI inflation,…
