Home loan EMIs to go up as HDFC hikes interest rate; ICICI Bank, PNB increase MCLR
Business | June 01, 2022 17:12 ISTThe upward revision in interest rates by HDFC, PNB and ICICI Bank follow an off-cycle rate increase by the Reserve Bank in May.
The upward revision in interest rates by HDFC, PNB and ICICI Bank follow an off-cycle rate increase by the Reserve Bank in May.
RBI said that the registrations of five NBFCs were cancelled for violating norms related to outsourcing and fair practices code in their digital lending operations.
In addition to agencies nominated by the RBI and by DGFT, Qualified Jewellers as approved by International Financial Services Centers Authority were permitted to import gold in January.
RBI Governor Shaktikanta Das said that there will be some hike but how much I will not be able to tell now... to say that 5.15 (per cent) may not be very accurate.
RBI said that the National Payments Corporation of India (NPCI) has been advised to facilitate Unified Payments Interface (UPI) integration with all banks and ATM networks.
The economists said they did a study of the Russian invasion's impact on inflation, which revealed that 59 per cent of the jump in prices is due to geopolitical events.
PIB fact check busts rumours claiming currency notes of Rs 500 are fake in which the proximity of the green strip is not near to the Reserve Bank of India (RBI) Governor's signature.
On what changed since April 8 -- when the last scheduled policy meet decided to maintain status quo -- and May 4, the source said the inflation print at near 7 per cent for March came way above RBI's expectations, and the momentum is likely to continue in April as well.
The Reserve Bank of India in a surprise move on Wednesday (May 4) announced to hike the repo rate by 40 basis points to 4.40 per cent, the first hike since August 2018.
The 30-share BSE benchmark Sensex had jumped 897.77 points or 1.61 per cent to 56,566.80 during the day. But it pared most of the gains and closed just 33.20 points or 0.06 per cent higher at 55,702.23. Similarly, the NSE Nifty inched up 5.05 points or 0.03 per cent to 16,682.65.
RBI Governor Shaktikanta Das said that all six members of the MPC unanimously voted for a rate hike to contain inflation that has remained stubbornly above the target of 6 per cent for the last three months.
It is proposed to enable customer authorisation through the use of UPI while settlement of such transactions would happen through the ATM networks.
In its earlier policy review in February, the RBI had projected retail inflation to be at 4.5 per cent in 2022-23.
RBI on Friday kept the benchmark interest rate unchanged at 4 per cent and decided to continue with its accommodative stance despite rising inflation.
The Monetary Policy Committee (MPC), headed by RBI Governor Shaktikanta Das, is holding its first meeting in the current financial year. The meeting will be on from April 6 to 8 and the outcome will be announced on April 8.
RBI Governor Shaktikanta Das said that UPI '123PAY' will allow India's 40 crore feature phone users to access the payment service.
The RBI’s list of holidays falls into three categories. These are state-wise celebrations, religious holidays and festival celebrations.
As per the official notification, RBI Assistant Recruitment 2022 registrations will begin from February 17, 2022. The last date to submit the online application forms and payment of examination fees is March 8, 2022.
We have seen that crypto-technology is underpinned by a philosophy to evade government controls. Cryptocurrencies have specifically been developed to bypass the regulated financial system. These should be reason enough to treat them with caution, RBI Deputy Governor T Rabi Sankar said.
The Reserve Bank of India and the Union government have not given any sort of recognition to cryptocurrencies and, therefore, they are not legal in the country right now, the Union minister of state for finance, who had come here to attend a function, told reporters.
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