Key insights on Economy, Business optimism for 2025 By RBI Governor Sanjay Malhotra
Posted Date : 31-Dec-2024 , 05:40:11 pm | Posted By CASANSAAR
RBI Governor Sanjay Malhotra shares key insights on economy, business optimism for 2025.
In the foreword to the Financial Stability Report, Malhotra emphasised the RBI’s commitment to maintaining financial stability, which he sees as crucial to supporting sustained growth for the India...
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RBI introduces name lookup for RTGS and NEFT
Posted Date : 31-Dec-2024 , 10:31:45 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) announced on Monday the launch of a new beneficiary bank account name verification feature for both the Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) systems.
This facility will allow remitters to verify the beneficiary's name ...
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RBI seen loosening stranglehold on rupee in 2025
Posted Date : 30-Dec-2024 , 07:07:26 pm | Posted By CASANSAAR
RBI seen loosening stranglehold on rupee in 2025
The Reserve Bank of India might have to adjust its foreign exchange strategy as the rupee is overvalued. This could lead to a weaker and more volatile rupee by 2025. Factors such as the U.S. Federal Reserve's rate cut cycle, Donald Trump's ...
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Prospects of economy expected to improve in 2025: RBI Governor
Posted Date : 30-Dec-2024 , 06:58:38 pm | Posted By CASANSAAR
Prospects of economy expected to improve in 2025: RBI Governor
RBI Governor Sanjay Malhotra states Indian economy is expected to improve in 2025 with high consumer and business confidence. Despite a slowdown in the first half of 2024-25, robust balance sheets and high profitability are predicted ...
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RBI Financial Stability Report: India's Macro Fundamentals Strong, All Key Indicators in Positive Zone
Posted Date : 30-Dec-2024 , 06:39:45 pm | Posted By CASANSAAR
RBI Financial Stability Report: India's Macro Fundamentals Strong, All Key Indicators in Positive Zone
The Reserve Bank of India's December 2024 Financial Stability Report shows that the Indian financial system is resilient. Scheduled commercial banks exhibit strong profitability an...
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India's forex reserves fall to $644.39 billion, down $8.4 billion as of Dec 20
Posted Date : 27-Dec-2024 , 07:10:40 pm | Posted By CASANSAAR
India's forex reserves fall to $644.39 billion, down $8.4 billion as of Dec 20
India's foreign exchange reserves dipped by $8.4 billion to $644.39 billion as of December 20, according to data shared by the Reserve Bank of India (RBI) on Friday. For the previous week, India's for...
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Scope for Credit growth to Outpace Economy - RBI
Posted Date : 27-Dec-2024 , 06:55:15 pm | Posted By CASANSAAR
Scope for Credit growth to Outpace Economy - RBI
According to the RBI, India’s Credit- to- GDP ratio was 90.1% in 2022, indicating potential for Higher Credit growth Compared to Advanced and Emerging markets. This growth can boost Economic development. The analysis also find that income Gro...
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RBI red flags increased risk of cyber-attacks, Digital Frauds and Data Breaches
Posted Date : 27-Dec-2024 , 03:10:37 pm | Posted By CASANSAAR
RBI red flags increased risk of cyber-attacks, Digital Frauds and Data Breaches
The Reserve Bank of India (RBI) highlighted increased cyber risks due to digitisation and called for stronger risk management, IT governance, and transaction monitoring in banks and NBFCs. It noted the rise in digital...
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RBI sets up 8-member panel on ethical use of AI
Posted Date : 27-Dec-2024 , 11:59:59 am | Posted By CASANSAAR
RBI sets up 8-member panel on ethical use of AI
The Reserve Bank has formed an eight-member committee to develop a framework for ethical AI in the financial sector. Headed by IIT Bombay professor Pushpak Bhattacharyya, the committee will assess AI adoption, review regulatory approaches, identify ...
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RBI sets up 8-member panel on ethical use of AI
Posted Date : 27-Dec-2024 , 11:48:28 am | Posted By CASANSAAR
RBI sets up 8-member panel on ethical use of AI
The Reserve Bank has formed an eight-member committee to develop a framework for ethical AI in the financial sector. Headed by IIT Bombay professor Pushpak Bhattacharyya, the committee will assess AI adoption, review regulatory approaches, identify ...
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RBI imposes Rs 27.30 lakh penalty on IndusInd Bank
Posted Date : 21-Dec-2024 , 06:43:09 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has fined IndusInd Bank Rs 27.30 lakh for violating deposit interest rate regulations. An inspection revealed savings accounts opened for ineligible entities. The RBI clarified the penalty addresses compliance issues and doesn't invalidate the bank's customer ...
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RBI Prioritizing inflation control amid slowing Economic Growth
Posted Date : 21-Dec-2024 , 06:40:44 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) held its benchmark interest rate steady at 6.25% in December, prioritizing inflation control amid slowing economic growth. Outgoing Governor Shaktikanta Das emphasized the need to balance inflation and growth, while two MPC members favored a rate cut to stimulate the ...
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Rate cut would help in reviving economic growth without worsening the inflationary situation
Posted Date : 21-Dec-2024 , 01:54:34 pm | Posted By CASANSAAR
Rate cut would help in reviving economic growth without worsening the inflationary situation: MPC's Nagesh Kumar
RBI MPC member Dr. Nagesh Kumar advocated for a 25-basis point repo rate cut and a 50-basis point CRR reduction to stimulate economic growth without exacerbating inflation. He and ...
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RBI board reviews global, domestic Economic Situation
Posted Date : 20-Dec-2024 , 06:13:18 pm | Posted By CASANSAAR
RBI board reviews global, domestic Economic Situation
The Reserve Bank of India's central board, led by new Governor Sanjay Malhotra, convened to assess the global and domestic economic landscape. The board acknowledged Shaktikanta Das's contributions during his six-year tenure as governo...
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RBI advises states to be more prudent in managing finances
Posted Date : 20-Dec-2024 , 04:50:04 pm | Posted By CASANSAAR
RBI advises states to be more prudent in managing finances
The Reserve Bank of India commends states for fiscal deficit reduction but urges adherence to the 'golden rule' of financing current expenditure with current revenue. The RBI also criticizes excessive subsidies and cash transfer...
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RBI May face tougher path in Feb rate cut as Fed reshaped global monetary Policy Expectations
Posted Date : 19-Dec-2024 , 01:55:12 pm | Posted By CASANSAAR
RBI May face tougher path in Feb rate cut as Fed reshaped global monetary Policy Expectations
RBI faces a tougher decision on cutting interest rates in February due to a shift in the U.S. Federal Reserve's stance. The Fed's hawkish pause, stronger dollar, and higher U.S. bond yields creat...
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The year of the pause: - How RBI maneuvered its policy in 2024
Posted Date : 18-Dec-2024 , 06:17:33 pm | Posted By CASANSAAR
The year of the pause: - How RBI maneuvered its policy in 2024
India's benchmark interest rate, held steady at 6.5% since late 2018, remains unchanged as inflation control remains a key focus. Despite a 5.4% GDP growth slump in Q2 2024, the RBI prioritizes disinflation efforts, citing persi...
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Revenue secretary Sanjay Malhotra appointed as new RBI Governor
Posted Date : 09-Dec-2024 , 08:03:25 pm | Posted By CASANSAAR
Revenue secretary Sanjay Malhotra has been appointed as the new Reserve Bank of India governor, an official notification from the Centre's cabinet committee stated on Monday.
Malhotra, a 1990 batch Rajasthan cadre IAS Officer, will replace Shaktikanta Das, whose tenure comes to an end on Tues...
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RBI allows Small Finance Banks to Give Credit on UPI
Posted Date : 07-Dec-2024 , 07:22:49 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Friday allowed small finance banks (SFBs) to offer pre-sanctioned credit lines through Unified Payments Interface (UPI). Till now, only scheduled commercial banks were allowed to offer pre-sanctioned credit lines on the flagship payments platform.
The cent...
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Amendment to Framework for Facilitating Small Value Digital Payments in Offline Mode
Posted Date : 04-Dec-2024 , 06:38:13 pm | Posted By CASANSAAR
RBI/2024-25/93
CO.DPSS.POLC.No.S908/02-14-003/2024-25
December 04, 2024
The Chairman / Managing Director / Chief Executive Officer Authorised Payment System Operators and Participants (Banks a...
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Rs 1 Trillion stuck in inoperative accounts, RBI asks banks to monitor resolution
Posted Date : 03-Dec-2024 , 11:58:01 am | Posted By CASANSAAR
The Reserve Bank has prodded bankers to resolve the mounting issue of inoperative accounts and the huge amount of unclaimed deposits in them by asking lenders to monitor the resolution process at the board level.
In a circular to all heads of banks Monday, the regulator advised banks to take nece...
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RBI cautions public on deepfake videos of Top Management circulated over social media giving financial advice
Posted Date : 20-Nov-2024 , 01:35:00 am | Posted By CASANSAAR
It Has Come to The Notice of Reserve Bank of India That Fake Videos of The Governor Are Being Circulated in Social Media That Claim Launch of Or Support to Some Investment Schemes by the RBI. These Videos Attempt to Advise People to Invest Their Money in Such Schemes, Through Use of Technological To...
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RBI issues framework for reclassification of FPI to FDI
Posted Date : 12-Nov-2024 , 11:35:49 am | Posted By CASANSAAR
The Reserve Bank of India on Monday issued an operational framework for reclassification of investment made by a foreign portfolio investor to foreign direct investment (FDI) if the entity breaches the prescribed limit. Markets regulator Sebi too has issued a circular on procedure for reclassificati...
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Government invites applications for RBI Deputy Governor
Posted Date : 04-Nov-2024 , 09:12:01 pm | Posted By CASANSAAR
The Centre has invited applications for the post of a deputy governor by November 30 to succeed Michael Patra at the Reserve Bank of India (RBI). Patra's extended term ends in January.
Applicants need to have at least 25 years of work experience in public administration or similar years of ex...
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RBI adds 13 more entities in 'Alert List' of unauthorised forex trading
Posted Date : 23-Oct-2024 , 08:25:15 am | Posted By CASANSAAR
The Reserve Bank on Tuesday updated the 'Alert List' of unauthorised forex trading platforms by adding 13 more entities, including TDFX and Inefex, taking the total to 88.
The Alert List contains names of entities which are neither authorised to deal in forex under the Foreign Exchange Ma...
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RBI proposes beneficiary name verification for RTGS and NEFT transactions
Posted Date : 10-Oct-2024 , 04:41:38 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has proposed to provide a facility to the remitter to verify the name of the receiver (beneficiary) before initiating a payment transaction in Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT).
Payment Systems like UPI and IMPS p...
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RBI flags irregularities in Gold Loan Practices, asks lenders to review policies
Posted Date : 30-Sep-2024 , 09:49:22 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has uncovered significant irregularities in the processing of loans against gold jewellery by supervised entities.
Following a recent review and on-site inspections of select financial institutions, the RBI found several deficiencies in processing of gold loans, an...
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RBI allows foreign investors in IFSC to invest in Sovereign Green Bonds
Posted Date : 30-Aug-2024 , 10:33:07 am | Posted By CASANSAAR
The Reserve Bank on Thursday introduced a scheme to permit foreign investors in the International Financial Services Centre (IFSC) to invest in sovereign green bonds to facilitate wider non-resident participation in such instruments.
The government issued sovereign green bonds (SGrBs) in January ...
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RBI increased UPI transaction limit from Rs 1 lakh to Rs 5 lakh
Posted Date : 10-Aug-2024 , 08:43:54 am | Posted By CASANSAAR
In a latest move to facilitate higher payments through UPI, the RBI proposes to increase the per transaction limit under the payment system from Rs 1 lakh to Rs 5 lakh.
According to the RBI, the increased limit will further ease tax payments by consumers through UPI.
In another proposal, the R...
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RBI announces Continuous Clearing of Cheques under CTS
Posted Date : 09-Aug-2024 , 12:41:29 am | Posted By CASANSAAR
For expeditious clearance of cheques, the RBI has announced measure on Continuous Clearing of Cheques under Cheque Truncation System (CTS). Once implemented cheques would be cleared within hours of submission instead of two days taken currently.
CTS currently processes cheques with a clearing cyc...
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