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RBI to issue new Rs 10 notes, Here's how the new notes will look
The country will shortly have new Rs 10 denomination notes in circulation, the Reserve Bank of India (RBI) announced on Friday. The new Rs 10 note in the Mahatma Gandhi series is designed in the base...
Govt Asks Banks, Post Offices to Deposit Junked Notes at RBI by July 20
The government has permitted banks and post offices to deposit junked Rs 500 and Rs 1,000 notes with the Reserve Bank by July 20. This is the second window the government has provided to banks, post...
From Feb. 20, you can withdraw ₹50,000 a week, No limit from March 13: RBI
The Reserve Bank of India today announced that the weekly withdrawal limit for savings account will be raised to Rs 50,000 from February 20 and the limits on savings bank cash withdrawals post-...
Now From February 1, You Can Withdraw Cash From ATMs As Much As You Wish
In a big relief to people and small businesses, RBI on Monday announced lifting of restrictions on daily withdrawal of money from ATMs and from current accounts. " The daily and weekly limits imposed...
RBI restricts deposit of old notes, can deposit over Rs 5,000 only once till Dec 30
The RBI announced on Monday that demonetised currency above Rs 5,000 can now be deposited in bank accounts only once till December 30. People depositing the old Rs 500 and Rs 1,000 in excess of Rs 5,...
Banks garnered Old Notes worth Rs.12.44 lakh cr till Dec.10: RBI
The Reserve Bank of India (RBI) on Tuesday said that Rs 12.44 lakh crore of demonetised Rs 500 and Rs 1,000 notes have been deposited by the public, while they have issued Rs. 4.61 trillion (Rs 4.61...
PM Modi move to fight "the disease of black money"
In a announcement, Prime Minister Narendra Modi on Tuesday announced that from starting 8 November midnight, Rs 500 and Rs 1,000 currency notes will be illegal. As replacement for the scrapped...
REXIT: Rajan's Term As Governor Comes To An End
An era comes to an end- this is what a lot of people are saying about Raghuram Rajan's term that ended on Sunday. The term was short but the amount of work done was immense. Taking up a huge...
4% Inflation Rate Crucial for India’s Economic Growth
The rupee has been fairly stabilized to weather external exchange rate fluctuations caused by economic meltdown, Brexit and devaluation by countries like China and so on, including a possible US...
Urjit Patel will go one step higher and be the next governor
While curiosity was at its peak, the new RBI governor has finally been announced. Urjit Patel the present Deputy RBI governor will go one step higher and be the next governor. So let’s take some time...
Raghuram Rajan
The question on everyone’s mind has finally been answered by the RBI Governor, Raghuram Rajan . He wrote a mail to the RBI employees on Saturday to give this message out. The governor wrote a long...
Raghuram Rajan
Let's put all the controversies to rest and talk about this economist who brought our country's economy to a level that we can proudly say we are from India. Currently, Raghuram Rajan , the governor...
Raghuram Rajan
Days after being nominated to the Rajya Sabha, Bharatiya Janata Party ( BJP ) leader Subramanian Swamy pulled out his guns at Reserve Bank of India’s governor, Raghuram Rajan and said he should be...
Why RBI Has Kept Rates Unchanged In The Final Monetary Policy
Reserve Bank of India kept rates unchanged in its final monetary policy meet on Tuesday. Repo rate at which RBI lends money to banks is kept unchanged at 6.75%. Raghuram Rajan , Governor, RBI said...
RBI keeps repo rate unchanged, here are the key highlights of monetary policy review
Cautious ahead of the US Fed meeting, RBI kept its monetary policy steady on Tuesday amid lingering concerns over inflation, after having already cut the repo rate by a sharper 50 basis points at its...
RBI Governor Raghuram Rajan first Indian to be appointed BIS Vice Chairman
Raghuram Rajan , the governor of the Reserve Bank of India, became the first Indian to be elected the vice-chairman of the Bank for International Settlements, the bank for global central banks which...
RBI imposes Rs 1 cr penalty on Dhanlaxmi Bank
The Reserve Bank has imposed Rs 1 crore penalty on Dhanlaxmi Bank for violation of Know Your Customer (KYC) and Anti Money Laundering (AML) norms. It had issued a Show Cause Notice to the bank for...
Government, RBI in accord on monetary policy committee: Rajan
Reserve Bank of India Governor Raghuram Rajan said on Thursday that the government and the RBI have agreed on composition of the monetary policy committee (MPC) that will set the central bank's...
Indian economy poised to grow
Three important developments happened on September 29. The Reserve Bank of India ( RBI ) cut the repo rate (the rate at which it lends to banks) by 50 basis points, India moved up 16 places in the...
Indian companies’ second quarter revenues seen at four year-lows
Dismal second quarter earnings scenario may hurt investor confidence amid scepticism over Modi government’s reform policies, coupled with the US interest rate hike anxiety Revenues at India’s top...
4 Ways In Which The RBI Rate Cut Will Impact Your Money
Announcing its fourth repo rate cut in 2015, the Reserve Bank of India ( RBI ) lowered the benchmark repo rate by 50 basis points to 6.75% on 29 September. RBI's latest move comes as a positive...
SBI to charge up to 10 per cent for home loans
SBI may have cut its base lending rate by 40 basis points to 9.3 per cent following RBI 's latest policy rate cut, but home loan customers of the top lender will have to pay up to 0.7 per cent above...
PM Modi's Visits Need to be Backed Up With Action on Ground: RBI Governor
Reserve Bank Governor Raghuram Rajan on Wednesday described Prime Minister Narendra Modi as being "ahead of us" but said his visits abroad need to be backed up with "action on the ground". "I think...
RBI to issue ₹ 500 and ₹ 1000 Banknotes with Three Additional Features
The Reserve Bank of India will shortly put into circulation bank notes in the denominations of ₹ 500 and ₹ 1000 incorporating three new/revised features - (i) ascending size of numerals in the number...
RBI Governor Raghuram Rajan talks of strong institutions, slams 'jugaad'
Coming down hard on quick fixes like 'jugaad' way of working, Reserve Bank Governor Raghuram Rajan today did some plainspeak, saying the key to sustainable growth is strong institutional mechanisms...
Snapdeal and FreeCharge launch new mobile wallet
When ecommerce marketplace Snapdeal acquired mobile top-up site c in April – the biggest acquisition in India to date – the promise was to build a digital commerce ecosystem. An important piece of...
RBI Deputy Governor Says Banks Must Reduce Stressed Assets
Reserve Bank of India ( RBI ) Deputy Governor R. Gandhi said on Tuesday there was an "urgent" need for banks to reduce their stressed assets, given the impact on liquidity and capital in the sector...
“We will start India’s first payments bank”: Paytm founder
Paytm founder Vijay Shekhar Sharma wants to be the first player to launch a payments bank in the country. He was one of the two individuals besides nine other entities to get the Reserve Bank of...
PM Modi’s call to India Inc to take risks may fall on deaf ears; ball in govt's court
There are two key takeaways from Prime Minister Narendra Modi ’s three-hour long meeting with top industrialists, economists and central bank chief on Tuesday. For one, the government wants the...
Maha to seek RBI nod on DCC loan sanction in drought areas
The Maharashtra government will seek RBI's permission to allow the financially-strong district central cooperative banks (DCCs) to disburse loans to their neighbouring districts with weaker...
Prime Minister Narendra Modi To Meet India Inc. Today On Global Economic Scene
Prime Minister Narendra Modi will today hold wide-ranging discussions on global economic scenario with business leaders, including Reliance Industries head Mukesh Ambani , Tata Group Chairman Cyrus...
New Rs 1,000 notes with more security features coming soon
The Reserve Bank of India would soon start issuing Rs 1,000 notes with enhanced security features. These notes would come with the rupee symbol and inset letter 'L' with numerals in ascending size in...
India’s Flipkart buys payment services firm FX Mart
India’s largest e-commerce firm Flipkart has bought payments services start-up FX Mart Pvt. Ltd, which holds a prepaid wallet licence, so as to add a payment service on its platform and on that of...
Rajan is right: Salaried class can't afford a house
When Reserve Bank of India Governor Raghuram Rajan asked real estate developers to start reducing prices so that more people would be willing to buy, he was only stating the obvious. According to...
Raghuram Rajan only central banker I trust, he should get Nobel in Economics: Marc Faber
At a time when reports of differences between the government and the RBI pop up frequently, governor Raghuram Rajan has received a ringing endorsement of his capabilities as a central banker from...
India's economic data brings cheer amid worries over stalled reforms
India's retail inflation cooled to a record low in July and annual growth in industrial production hit a four-month high in June, bringing cheer to investors fretting that gridlock in parliament is...
RBI sets rupee reference rate at 63.7603 against dollar
The Reserve Bank of India on Thursday fixed the reference rate of rupee at 63.7603 against the US dollar and 69.7091 for the euro as against 63.8159 and 69.3104 respectively, yesterday. According to...
RBI ignores govt pressure, keeps key rates unchanged
Rebuffing pressure from the government to reduce cost of borrowing, Reserve Bank of India governor Raghuram Rajan on Tuesday kept key policy rates unchanged. Rajan, however, said that cost of funds...
Govt draft dilutes RBI governor's power; can't veto on policy rate
The central bank governor will not have a veto over interest rates and the government will have the power to appoint a majority of the members of the monetary policy committee, according to a revised...
Draft financial code: By undermining RBI’s independence, govt's playing with fire
If indeed the second draft of the Indian Financial Code, released on Thursday for public comments, is implemented in its entirety, Reserve Bank of India (RBI) governor will have no veto power in the...
Banks to take over Vijay Mallya's Goa villa, auction Kingfisher House
Banks are gearing up to take possession of Vijay Mallya's palatial villa in Goa by the month-end. A hearing with the district commissioner is scheduled for July 11, after which bankers are expected...
RBI gives Rs 100 note a makeover, check out the new security features here
In its uphill battle to fight fake currency notes, the Reserve Bank of India (RBI) has one more trick up its sleeve. RBI on Thursday announced that they have given the Rs 100 a makeover. Well, almost...
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