Despite GDP and industrial growth rates being fragile and volatile, the RBI is likely to start raising the policy rate in the near future by up to 100 bps in 2022.
As per the cryptocurrencies pose immediate risks of frauds, to anti-money-laundering efforts, and fight aginst terror financing.
The statement from the RBI comes amid RBL Bank's Vishawvir Ahuja stepping down as MD & CEO of the bank, and the lender appointing Rajeev Ahuja as the interim Managing Director and Chief Executive Officer of the bank with immediate effect.
Entities involved in providing digital payment services incur costs, which are generally recovered from the merchant or customer or is borne by one or more of the participants.
RBI Governor Shaktikanta Das said managing a durable, strong and inclusive recovery is the central bank's mission.
This is the ninth consecutive time since the rate remains unchanged. The RBI had last revised the policy rate on May 22 last year.
The Reserve Bank of India has announced that the cash withdrawal charges on ATMs will be hiked from 1 January 2022.
The directions were contained in 'RBI (Fraud-Classification & Reporting by commercial banks & select FIs) Directions 2016', and 'Guidelines on Sale of Stressed Assets by Banks'.
I firmly believe that India has the potential to grow at a reasonably high pace in the post-pandemic scenario, said Reserve Bank of India Governor Shaktikanta Das.
Finance Minister Nirmala Sitharaman also thanked PM Modi for the initiatives. Narendra Modi launched 2 innovative customer-centric initiatives of RBI today.
Prime Minister Narendra Modi on Friday launched Reserve Bank of India's two innovative customer-centric initiatives. These initiatives are the RBI Retail Direct Scheme and the Reserve Bank - Integrated Ombudsman Scheme.
PM Modi said that RBI's two innovative customer-centric initiatives will increase investment avenues, make accessing capital market easier and safer.
The PMO said the RBI Retail Direct Scheme is aimed at enhancing access to the government securities market for retail investors.
Bank Holidays in November 2021: In some states, banks will be closed for two consecutive days, and in some others, for three days in November.
Reserve Bank Governor Shaktikanta Das said that there is a need to improve the quality and depth of audit as it instils confidence among citizens.
RBI said the company had reported instances of breach of the ceiling of 30 remittances per beneficiary during 2019 and 2020 and filed an application for compounding of the violation.
The Reserve Bank of India (RBI) on Monday said it has imposed a penalty of Rs one crore on the State Bank of India (SBI)
The penalty has been imposed for non-compliance with specific directions issued by RBI under the Supervisory Action Framework (SAF) and RBI directions on 'Frauds in UCBs: Changes in Monitoring and Reporting mechanism'.
The RBI has projected substantial softening in retail inflation in the near term on the back of easing food prices and favourable base effect.
The Reserve Bank of India has kept the policy rate unchanged 8th time in a row at 4 per cent.
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