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The rupee was trading in a narrow range against the U.S. dollar in early trade on May 8. | Photo Credit: REUTERS The rupee was trading in a narrow range against the U.S. dollar in early trade on May 8, amid a negative trend in domestic equities and strong American currency. Forex traders said significant…
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Representational file image. | Photo Credit: B. Jothi Ramalingam Extreme weather conditions may pose a risk to inflation, along with prolonged geopolitical tensions that could keep crude oil prices volatile, the Reserve Bank’s April Bulletin said on April 23. The retail based on the Consumer Price Index (CPI) has eased to 4.9% in March after…
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The spike in food prices has kept the Reserve Bank of India (RBI) worried even though overall inflation has moderated to a certain extent. On April 5, the Central bank’s Monetary Policy Committee decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50%. This is the seventh time that…
Well before Finance Minister Nirmala Sitharaman rose to present the Interim Budget for 2024-25, there were indications as to what its focus would be. Doubts that this would be anything more than a vote-on-account had been settled when Prime Minister Narendra Modi publicly declared that “when polls are this close, the government presents an interim…
Michael Debabrata Patra, RBI deputy governor, inaugurated the sub-office of the Reserve Bank of India, in Itanagar, Arunachal Pradesh, on October 20. File | Photo Credit: The Hindu Reserve Bank of India (RBI) has announced the opening of its sub-office in Itanagar, Arunachal Pradesh in the northeast of India. Dr. Michael Debabrata Patra, deputy governor, RBI,…
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In both cases, the RBI said the penalties are based on the deficiencies in regulatory compliance. File. | Photo Credit: EMMANUAL YOGINI The Reserve Bank on October 17 said it has imposed a penalty or ₹12.19 crore on ICICI Bank and ₹3.95 crore on Kotak Mahindra Bank for non-compliance of certain regulatory norms. The penalty…
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On May 19, 2023, the RBI announced its intent to withdraw the ₹2,000 notes introduced in 2016 for quick remonetisation. File | Photo Credit: The Hindu Governor Shaktikanta Das on October 6 said ₹3.43 lakh crore of ₹2,000 denomination notes have come back to the system so far, and reminded the public that they can…
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RBI governor Shaktikanta Das. File | Photo Credit: ANI With a view to strengthen customer grievance redressal system, RBI governor Shaktikanta Das on October 6 said the Central bank decided to effect certain changes and also consolidate and harmonise the Internal Ombudsman guidelines into a single master direction. “This will further strengthen the customer grievance…
The RBI’s decision will be influenced by several factors New Delhi: The Reserve Bank of India (RBI) will on Friday announce its bimonthly monetary policy statement which is closely watched by financial market participants. The statement by RBI Governor Shaktikanta Das on Friday morning will be followed by a press conference. The three-day bi-monthly monetary…
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After September 30, the Rs 2,000 notes can only be exchanged with the RBI. The last day for returning or exchanging Rs 2,000 denomination banknote is today. According to the Reserve Bank of India (RBI), from October 1, the Rs 2,000 currency note will cease to have its value and will be just another piece…
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