The Reserve Bank of India (RBI) has appointed Neeraj Nigam as Executive Director with immediate effect, the central bank said in a release on Monday. As Executive Director, Nigam will look after Consumer Education and Protection Department, Financial Inclusion and Development Department, Legal Department, and Secretary’s Department. Prior to being promoted as […]
Jairam Ramesh writes to RBI, SEBI seeking investigations on Adani Group
Congress leader Jairam Ramesh has written to Reserve Bank of India Governor Shaktikanta Das and SEBI chairperson Madhabi Puri Buch, in two separate letters, seeking an investigation on the allegations levelled against the Adani Group by Hindenburg Research. Citing the Adani Group’s large size, his letter to the SEBI chief said investigations must be […]
Banking sector remains resilient, stable: RBI
RBI said on Friday that according to its current assessment, the banking sector remains resilient and stable and noted that it maintains a constant vigil on the sector and on individual banks with a view to maintain financial stability. Without naming the Adani Group, RBI said in a statement that there have been media […]
RBI’s services, infra outlook survey to assess business situation of fourth quarter of FY23
The Reserve Bank of India has launched the 36th round of the quarterly Services and Infrastructure Outlook Survey (SIOS) for January-March 2023. The survey assesses the business situation for the current quarter (Q4:2022-23) from selected companies in the services and infrastructure sectors in India and their expectations for the ensuing quarter (Q1:2023-24) based on qualitative responses […]
Supreme Court’s Constitution Bench seeks Centre, RBI response on demonetisation
The Supreme Court’s Constitution Bench on Wednesday asked the Centre and Reserve Bank of India (RBI) to file a comprehensive affidavit on the decision to demonetize currency notes of Rs 500 and 1,000 in 2016. A five-judge bench of Justices Abdul Nazeer, BR Gavai, AS Bopanna, V Ramasubramanian and BV Nagarathna […]
RBI hikes repo rate by 50 bps to 5.90 pc, inflation projection retained at 6.7 pc
The Reserve Bank of India (RBI) on Friday hiked repo rate”>rate by 50 basis points to 5.90 percent in order to control the rising inflation, keeping in line with the aggressive policies of central banks and the volatile markets prevalent across economies. RBI Governor Shaktikanta Das announced the rate”>rate hike today. In […]
RBI seeks public feedback on changes in payment systems
The Reserve Bank of India (RBI) has invited feedback from the public on the various changes proposed in the payments system, including the possibility of imposing tiered charges on transactions done through the Unified Payments Interface (UPI). As announced in the Statement on Developmental and Regulatory Policies dated December 08, […]
Bank credit grows 14.5 per cent as on July 29, shows RBI data
Bank credit grew 14.5 percent year-on-year as on July 29, data released by the Reserve Bank of India on Wednesday showed. As of July 29, banks’ outstanding loans were at Rs 123.69 trillion, as against Rs 108.00 trillion during the same period last year. Besides, banks’ deposits were at Rs […]
Indian stocks largely steady, RBI’s policy outcome in focus
Indian stocks traded largely steady this morning ahead of the Monetary Policy statement of the Reserve Bank of India Governor Shaktikanta Das scheduled at 10 a.m., where he will announce the outcomes of the latest monetary policy review meeting. At 9.26 IST, Sensex traded at 58,467.96 points, up 169.16 points or 0.29 percent, whereas […]
RBI likely to hike policy interest rates; raise inflation forecast today
The Reserve Bank of India (RBI) is likely to hike the policy repo rate by 40 basis points to 4.80 percent on Wednesday and increase the inflation forecast for the current fiscal to above 6 percent from its earlier projection of 5.7 percent, according to market analysts and economists. The […]
Vacancy in Reserve Bank of India(RBI) , check details
Reserve Bank of India (RBI) invited applications from eligible candidates belonging to the Scheduled Tribe (ST) category to fill up the post of Bank’s Medical Consultant (BMC) on a contract basis. The applications must reach to the Regional Director, Reserve Bank of India, Hoshangabad Road, PB No 32, Bhopal – […]
RBI raises repo rate by 40 basis points to 4.40 pc with immediate effect
In a surprise move, the Reserve Bank of India (RBI) on Wednesday increased the policy repo rate by 40 basis points to 4.40 percent with immediate effect. Addressing a press conference, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) has unanimously voted to increase the policy repo rate […]
RBI keeps repo, reverse repo rates unchanged for 11th time in row
Reserve Bank of India’s (RBI) Monetary Policy Committee on Friday voted to keep the benchmark repo and reverse repo rates unchanged for the 11th consecutive time. “MPC voted unanimously to leave the repo rate unchanged at 4 percent. MPC also voted unanimously to keep the stance accommodative,” RBI Governor Shaktikanta Das […]
Bombay HC directs RBI to allow petitioner to exchange demonetized notes worth Rs 1.6 lakhs
The Bombay High Court on Friday directed the Reserve Bank of India (RBI) to allow a petitioner, Kishor Sohoni to exchange Rs 1.6 lakhs worth of demonetised notes. In an old case of cheating where Sohoni was a complainant, a Kalyan court magistrate in March 2016 had directed the accused to deposit Rs […]
Real estate sector welcomes RBI’s status quo on policy rates
Real estate sector has welcomed the Reserve Bank of India (RBI) decision to maintain the status quo on key policy rates saying the low-interest rate regime would boost the growth of the housing sector. Welcoming the RBI’s decision, Aditya Kushwaha, CEO and Director, Axis Ecorp said, “MPC has decided to […]