RBI

Forex Reserves rise to record high of $620.57 billion

The increase in the increment of the reserves led to the gradual growth of foreign policy assets. Which proved to be a major element in general for all the reserves.

Rate sensitive stocks continue to trade solid as lending rates remain unchanged

The repo rate stands at 4% while the reverse repo rate remains unchanged at 3.5%. The auto index led by Amara Raja Batteries, Tata Motors, Maruti Suzuki, and Eicher Motors increased by 0.6% following the MPC announcement.

RBI keeps Repo rate unchanged at 4 per cent

In the previous week, IMF had lowered the growth projections from 12.5 per cent to 9.5 per cent for the fiscal year 2021-22 which was down by 3 per cent points which were continued by the second wave of the COVID-19 pandemic in the country.

RBI raises CPI-based inflation estimate for FY22 at 5.7%

CPI inflation for the first quarter of 2022-23 is estimated at 5.1%. The repo rates have been fixed at 4%.

RBI to enable policy normalization for this fiscal year, Details here

Economists, henceforth, anticipate RBI to start with policy normalization just after the fourth quarter of the current fiscal year.

Sensex hits new high, over 400 points today

RBI to make changes in ATM withdrawal, salary, EMI, others from August 1

The implementation of Doorstep service charges, changes in salary, EMI, increased cash withdrawal charges and updated charges of ICICI bank will not just change the personal finance but will transform the entire economy.

RBI shuts down a bank for securing trust of depositors on the banks

Various incidents happened in the past but this is the latest instance of the Central bank shutting down the weakly run collective bank. Institutional disappointments and instigated penal actions have been illustrated as the reason for closing off.

IDBI Bank’s Q1 net profit rises to ₹603 crore

IDBI’s standalone net profit increased 318 percent year-on-year (YoY) in Q1.

Pension, Salary and bank EMI’s rule to change from next month

NACH services are available only on days when banks are working, but from August 1, this facility will be available on all 7 days.

RBI planning to introduce central digital currency as a pilot project: Deputy Governor

On risks arising from such digital currencies, Sankar said, "There are associated risks, no doubt, but they need to be carefully evaluated against the potential benefits. "

Pension Fund Managers to be allowed to invest in IPOs soon

The PFRDA Amendment Bill, which aims at separating NPS from PFRDA, has been introduced in the Parliament.

Bank’s association to seek license from RBI for setting up a bad bank

The decision of setting up a bad bank that would take over the stressed assets of the banks was announced by Finance Minister Nirmala Sitharaman in her union budget 2021-22 speech.

With tapering of second wave, near-term prospects of economy seem bright: RBI

The tapering of the second wave has brightened near-term prospects for the Indian economy.

RBI restricts Mastercard from bringing on-board new customers from July 22

The banking regulator has taken supervisory action against Mastercard for its failure to comply with the directions issued by RBI on Storage of Payment System Data.