Former Revenue Secretary Sanjay Malhotra has been appointed Governor of the Reserve Bank of India (RBI). He will take over on Wednesday and be in office for three years, the government said in a statement. Mr. Malhotra was drafted in the 1990 batch and is a Rajasthan cadre Indian Administrative Service (IAS) officer. He graduated … Read more
The Reserve Bank recommended on Friday to allow small financing institutions to provide pre-approved credit lines via the Unified Payments Interface (UPI). UPI is a real-time payment system designed by NPCI for mobile transactions. In September 2023, the scope of UPI was increased to allow commercial banks to link pre-sanctioned credit lines through UPI and … Read more
The Reserve Bank of India (RBI) has officially launched applications for its 2024 Summer Internship Programme. Eligible candidates can apply online at the RBI’s official website. The program is offered to students doing postgraduate studies or integrated five-year degrees in Management, Statistics, Law, Commerce, Economics, Econometrics, Banking, and Finance. Candidates who have completed a three-year … Read more
The Reserve Bank of India plans to host a number of events around the nation to mark its 90th anniversary. For college students studying undergraduate courses across all streams, the bank will host a nationwide quiz. RBI wants to celebrate 90 years by encouraging interaction with the student body. In addition to encouraging undergraduate students … Read more
Governor of the Reserve Bank of India Shaktikanta Das stated on Saturday that the country’s growth in the first quarter of current fiscal year was less than anticipated because the general elections caused a decline in government expenditure and a downturn in the agriculture sector. India’s gross domestic product (GDP) growth was 6.7 per cent … Read more
RBI Grade B Admit Card 2024 is now available from the Reserve Bank of India Services Board. The Phase I examination admit card for Officers in Grade ‘B’ (DR) – General – PY 2024 has been made available. The admission card may be downloaded by candidates via the RBI’s official website, rbi.org.in. The admission card … Read more
Governor Shaktikanta Das of the Reserve Bank of India (RBI) has received a “A+” rating in the Global Finance Central Banker Report Cards for the second year in a row. In addition to the European Union, the Eastern Caribbean Central Bank, the Bank of Central African States, and the Central Bank of West African States, … Read more
The Reserve Bank of India (RBI) has provided significant relief to UPI customers. The central bank has raised the limit for making UPI payments from Rs 1 lakh to Rs 5 lakh. Following the three-day bimonthly Monetary Policy Committee (MPC) meeting, RBI Governor Shaktikanta Das told the media that UPI has become the most popular … Read more
Moody’s stated on Thursday that the Reserve Bank of India’s latest draft guidelines, which aim to improve banks’ ability to manage liquidity in the face of increased digital transactions, are credit positive. Last month, the central bank issued a set of preliminary guidelines, which suggested that banks would be compelled to allocate an additional 5% … Read more
The Reserve Bank of India (RBI) releases a list of bank holidays each month so that customers can plan their branch visits accordingly. Banks in several states will be closed on Wednesday, July 17, for Muharram. Odisha Meghalaya will observe a holiday for U Tirot Sing Day on the same date. Apart from the national … Read more
RBI Governor Shaktikanta Das on Thursday said that the Indian financial system is in a “much stronger position,” characterized by robust capital adequacy, low levels of non-performing assets, and healthy profitability of banks and non-banking lenders. Underscoring the imperative of fostering a future-ready ethos within the financial sector, Das also stressed the critical role of … Read more
REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has received a ‘No Objection Certificate’ (dated May 3, 2024) from the Reserve Bank of India, for setting up a wholly owned subsidiary in International Financial Services Centre (IFSC), Gujarat International Finance Tec-City (“GIFT”), Gandhinagar, Gujarat. The decision … Read more
The Indian Highways Management Company Ltd (IHMCL), the state-owned NHAI’s toll collection arm, has recommended highway users to purchase FASTags from 32 approved banks other than Paytm Payments Bank (PPBL) for hassle-free travel. The 32 authorized banks include Airtel Payments Bank, Allahabad Bank, Bank of Baroda, HDFC Bank, ICICI Bank, IDBI Bank, Punjab National Bank, … Read more
The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) is releasing All India Consumer Price Index (CPI) on Base 2012=100 and corresponding Consumer Food Price Index (CFPI) for Rural (R), Urban (U) and Combined (C) for the month of November 2023 (Provisional) in this press note. CPIs for Sub-Groups and Groups for … Read more
In a recent development, the Reserve Bank of India (RBI) has directed Bajaj Finance to halt the issuance of new loans through its ‘eCOM’ and ‘Insta EMI Card’ due to non-compliance with digital lending guidelines. This action stems from the company’s failure to provide Key Fact Statements (KFS) to borrowers and deficiencies in the KFS … Read more