RBI Bans Flipkart founder Sachin Bansal’s Navi and Three Other NBFCs Over Pricing Policy Violations

17 Oct 2024

The Reserve Bank of India (RBI) has imposed a ban on four non-banking financial companies (NBFCs), including Navi Finserv, founded by Flipkart co-founder Sachin Bansal, from sanctioning and disbursing new loans. The ban, effective from October 21, 2024, also includes Asirvad Micro Finance, Arohan Financial Services, and DMI Finance Private....

RBI Issues Guidelines to Improve Accessibility of Digital Payments for Persons with Disabilities

13 Oct 2024

The Reserve Bank of India (RBI) has introduced new guidelines aimed at enhancing the accessibility of digital payment systems for persons with disabilities (PwDs). With the increasing use of digital payment platforms, the RBI has directed payment service providers (PSPs), including banks and authorized non-bank payment operators, to modify their...

RBI Holds Repo Rate Steady at 6.5% for the 10th Consecutive Meeting

09 Oct 2024

In its monetary policy meeting held on Wednesday, the Reserve Bank of India (RBI) decided to maintain the repo rate at 6.5 percent for the tenth consecutive time. However, the rate-setting panel shifted its stance from ‘withdrawal of accommodation’ to ‘neutral.’ Impact on Borrowers This decision implies that all external...

M Rajeshwar Rao’s Tenure Extended as RBI Deputy Governor for One More Year

07 Oct 2024

The Central government has extended the tenure of M Rajeshwar Rao as Deputy Governor of the Reserve Bank of India (RBI) for one more year, effective from October 9, 2024, or until further orders. This marks his second extension, having first been appointed to the role in September 2020 for...

RBI is unlikely to cut rate in Oct 9 monetary policy: BoB Report

02 Oct 2024

The Reserve Bank of India (RBI) is anticipated to keep both policy rates and stance unchanged for the tenth consecutive time in its upcoming October policy meeting, according to a report by the Bank of Baroda (BoB). The Monetary Policy Committee (MPC) is expected to take a cautious approach, awaiting...

India’s Forex Reserves Surge by USD 66 Billion in 2024, Reaching USD 689 Billion

15 Sep 2024

India's foreign exchange reserves have seen a significant rise in 2024, gaining USD 66 billion so far this year, according to the latest data from the Reserve Bank of India (RBI). The country’s forex reserves now stand at USD 689.235 billion, marking several all-time highs in recent months. The rise...

RBI Introduces UPI Cash Deposits At ATMs, No Debit Card Needed

31 Aug 2024

The Reserve Bank of India (RBI) has introduced a new feature allowing cash deposits at ATMs via Unified Payments Interface (UPI), eliminating the need for physical debit cards. This UPI Interoperable Cash Deposit (UPI-ICD) service was launched by Deputy Governor T. Rabi Sankar at the Global Fintech Fest 2024 in...

RBI May Cut Rates in October: Crisil Report

11 Aug 2024

The Reserve Bank of India (RBI) is anticipated to start reducing interest rates around October, contingent on stable external factors like weather conditions and global commodity prices, according to a report by Crisil, a credit rating agency. Crisil predicts that there will be "two rate cuts this fiscal year." The...

RBI Announces These Major Changes In UPI Payment This Week

11 Aug 2024

The Reserve Bank of India (RBI) has announced a significant increase in the transaction limit for tax payments through UPI, raising it from ₹1 lakh to ₹5 lakh per transaction. This move, expected to simplify the process of making larger tax payments digitally, was revealed by RBI Governor Shaktikanta Das...

FM Nirmala Sitharaman attends RBI Board of Directors meeting

10 Aug 2024

Union Finance Minister Nirmala Sitharaman on Saturday attended a meeting of members of the Central Board of Directors of Reserve Bank of India (RBI) here in the national capital. The meeting as held after the Union Budget 2024-25 and days after the Lok Sabha passed the finance bill, with a...

rbi

RBI Bans Flipkart founder Sachin Bansal’s Navi and Three Other NBFCs Over Pricing Policy Violations

RBI Issues Guidelines to Improve Accessibility of Digital Payments for Persons with Disabilities

RBI Holds Repo Rate Steady at 6.5% for the 10th Consecutive Meeting

M Rajeshwar Rao’s Tenure Extended as RBI Deputy Governor for One More Year

RBI is unlikely to cut rate in Oct 9 monetary policy: BoB Report

India’s Forex Reserves Surge by USD 66 Billion in 2024, Reaching USD 689 Billion

RBI Introduces UPI Cash Deposits At ATMs, No Debit Card Needed

RBI May Cut Rates in October: Crisil Report

RBI Announces These Major Changes In UPI Payment This Week

FM Nirmala Sitharaman attends RBI Board of Directors meeting

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