Varma, in an interview to PTI, said that inflation and inflationary expectations appear to be moderating and high inflation will certainly not become the 'norm' in the country.
RBI rate hike: In a report, the Germany-based bank said the RBI will respond with a slower pace of rate hikes from here, basing the expectation on the recently released minutes of the last meeting of the Monetary Policy Committee (MPC).
RBI growth forecast: India has a window of opportunity in terms of its demographic advantage, capability to boost manufacturing, increase in exports value as well as internalisation, Patra said while delivering a speech to celebrate 'Azadi Ka Amrit Mohotsav' organised by the Reserve Bank of India.
RBI to borrowing agents: While issuing additional instructions to regulated entities including banks, NBFCs and ARCs, Reserve Bank (RBI) said it has observed that recovery agents are deviating from its instructions with regard to the recovery of loans.
The 30-share BSE Sensex ended 89.13 points or 0.15 percent higher at 58,387.93 after facing volatility during the fag-end of trade. During the day, it climbed 350.39 points or 0.60 percent to 58,649.19. The broader NSE Nifty went up by 15.50 points or 0.09 percent to finish at 17,397.50.
RBI monetary policy: The RBI expects growth in the first quarter of the current fiscal at 16.2 per cent, which will taper to 4 per cent by the fourth quarter.
RBI rate hike: The Reserve Bank of India's rate-setting panel -- the Monetary Policy Committee -- is meeting to deliberate on the prevailing economic situation and announce its bi-monthly review on Friday.
RBI's composite financial inclusion index (FI-Index) capturing the extent of financial inclusion across the country rose to 56.4 in March 2022, showing growth across all parameters.
Replying to supplementaries, Sitharaman said interventions that are happening from the RBI side are more for containing volatility that is happening between the Indian rupee and the US dollar and so on.
The Reserve Bank's rate-setting panel -- Monetary Policy Committee -- will meet on August 3 for three days to deliberate on the prevailing economic situation and announce its bi-monthly review on Friday.
The restrictions imposed on the three banks under the Banking Regulation Act, 1949 the Reserve Bank would remain in force for six months and are subject to review.
The newly constituted RBI's digital payment index (RBI-DPI) stood at 349.3 in March 2022 against 304.06 in September 2021 and 270.59 per cent in March 2021.
RBI bank restriction: The restrictions have been imposed on Saibaba Janata Sahakari Bank, The Suri Friends' Union Co-operative Bank Ltd, Suri (West Bengal) and National Urban Co-operative Bank Ltd, Bahraich.
RBI had registered its concern over the adverse effect of cryptocurrencies on the Indian economy, the Finance Minister said.
Ola Financial Services Private Limited, a subsidiary of ride-hailing app Ola, offers financial services such as lending for two-wheelers, four-wheelers, personal loans and insurance products.
Apex exporters' body Federation of Indian Export Organisations (FIEO) said as per existing FEMA provisions, the final settlement has to be in free foreign exchange except for Nepal and Bhutan.
The merger proposal of HDFC and HDFC Bank remains subject to various statutory and regulatory approvals.
The RBI said the penalties are based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the banks with their customers.
The global economic outlook is clouded by the ongoing war in Europe and the pace of monetary policy tightening by central banks in response to mounting inflationary pressures, Reserve Bank of India (RBI) report said.
In a circular, the RBI said the industry stakeholders have highlighted some issues related to the implementation of the framework in respect of guest checkout transactions.
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