Business news: Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Janmashtami bank holidays: Because of Janmashtami, both public and private sector banks will remain shut in several cities that will observe the holiday on Monday.
Denmark's Christian Kettel Thomsen and Switzerland's Thomas Jordan, Das was recognised for his effective management of inflation, economic growth, currency stability, and interest rates. This accolade highlights his successful monetary policies amidst global economic challenges.
RBI Governor Shaktikanta Das has been awarded an "A+" rating by Global Finance magazine, making him one of only three central bank governors globally to receive the top distinction for the second consecutive year. The rating recognises Das's leadership in navigating India's economic challenges.
Finance Minister Nirmala Sitharaman urged banks to prioritise their core business activities, emphasising the necessity of collecting deposits and lending with increased strictness.
RBI Governor Shaktikanta Das made several significant announcements today. Let's understand how these changes might impact the general public.
RBI Governor Shaktikanta Das also proposed creating a public repository of digital lending apps to curb unauthorized players and expressed concerns over the rising disbursals of top-up home loans.
This marks the ninth consecutive time the MPC has held the repo rate at 6.5%, maintaining its stance of 'withdrawal of accommodation' to steer inflation towards the desired target. The decision received majority support, with four out of six members in favour.
Cash pay-out refers to arrangements for amounts being transferred out of bank accounts to beneficiaries not having a bank account.
The RBI stated that the disruptions faced by these institutions have either been resolved or are currently being addressed. This reassurance comes in light of concerns over potential impacts on financial operations due to the global technical glitch.
With increased reserves, India is better positioned to manage currency volatility and maintain economic stability amidst global uncertainties. This growth in reserves also reflects the success of India's economic policies and reforms aimed at attracting foreign investments and boosting exports.
RBI Grade B recruitment 2024 detailed notification will be soon released by the Reserve Bank of India (RBI). Interested individuals can submit their online applications from the official website, rbi.org.in, once the registration forms are released. Check eligibility, how to apply, fee, and more.
In the SBI versus Rajesh Agarwal case, a Supreme Court bench led by CJI DY Chandrachud batted for the rights of the borrower to be heard before an account is classified as fraud.
A viral claim was made on social media that Rs 500 notes carrying 'Star' mark are fake. Know the truth behind the viral claim.
According to Reserve Bank of India data, India registered an annual employment growth rate of 6 per cent in the FY 24. Last year, the annual employment growth rate was 3.2 per cent only.
The current official estimate of GDP growth in 2023-24 is 8.2 per cent, accelerating from 7 per cent in the preceding year. Earlier this month, the Reserve Bank of India pegged the GDP growth rate for FY25 at 7.2 per cent.
Apart from home loans, credit cards, non-food bank credit, industries and agricultural activity loans saw a year-on-year growth in May 2024. However, the personal loan segment growth has moderated.
For FY24, the current account deficit narrowed to USD 23.2 billion or 0.7 per cent of GDP against USD 67 billion or 2 per cent of GDP in FY23, the RBI said in a release on the Developments in India's Balance of Payments.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
The Reserve Bank of India (RBI) has proposed a new facility to allow automatic replenishment of UPI Lite wallets to promote small-value digital payments. Currently, UPI Lite has a daily limit of Rs 2,000 and a per-transaction limit of Rs 500.
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