Reserve Bank of India

Retail Inflation 2021 In August Eases To A Four-Month Low. Know Why

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Retail Inflation 2021: Prices of vegetables fell 11.68 percent from a year ago, while cereals fell 1.42 percent. New Delhi: The lifting of foreclosure restrictions in several states in August helped lower retail price inflation to its lowest level in four months, as supply-side constraints were reduced, paving the way for economic recovery. Lower food …

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Forex investments rose by $ 32.29 billion in six months: RBI

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The foreign exchange ( forex ) reserves reached $ 576.98 billion from March 31, 2021 from $ 544.69 billion at the end of September last year, the RBI reported. Foreign exchange assets (FCA), which is a major component of the reserves, have risen to $ 536.693 billion since March-end 2021 from $ 502.162 billion, the …

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Banking Central: How reliable is the MPC’s further guidance?

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The minutes of the meeting of the Reserve Bank of India’s Monetary Policy Committee used to be largely repetitive of policy details – going into the details of analysis and decisions, but this changed in October 2020 when the MPC was introduced to include new faces Was reorganized. Since then, extensive issues have been discussed …

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RBI’s checks and balances: Barriers to new NPCI-like umbrella entity for pan-India retail payments

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Last year, the Reserve Bank of India (RBI) came out with a licensing framework to establish several payment processing companies. The idea was to create another type of institution for the National Payment Corporation of India (NPCI) to expand sales payments and promote innovation in the financial system. While NPCI has established a game-changing payment …

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Will the second wave of COVID, new state-level restrictions, add to the NPA’s banking problems?

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The RBI announced a six-month deferment and a one-time restructuring for banks. This helped in avoiding huge increase in their non-performing assets (NPAs). A loan becomes an NPA if interest or principal is not repaid for a period of 90 days. The time when the Indian economy was trying to take out its second wind …

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RBI imposes a fine of Rs 25 Lakh on Axis bank for non-compliance with standards

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Axis Bank Limited has been fined by the RBI for contravention of/non-compliance with certain provisions of directions issued by it.  New Delhi: The Reserve Bank of India (RBI) on Wednesday imposed a fine of Rs 25 lakhs on Axis Bank Limited for contravention / non-compliance with certain provisions of the instructions issued by it. “RBI …

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RBI Annual Report: Allocation of Rs 2,000 Distributed Notes falls to FY21

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The allocation of Rs 2,000 notes distributed at 2% at the end of FY21 from 2.4 percent in March 2020, reflects the Reserve Bank of India’s (RBI) annual report for 2020-21. Over the course of the year, money laundering increases in the economy with the onset of Covid-19, according to the RBI’s annual report. A …

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The NEFT service will not be available for hours on May 23: RBI

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The Reserve Bank of India (RBI) on May 17 said the National Electronic Funds Transfer (NEFT) service would not be available for 14 hours on May 23 due to technological advances. On May 23, 2021, the development of NEFT technology, aimed at increasing efficiency and resilience, was planned after the business ended on May 22, …

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RBI expands digital fund limit to Rs 2 lakh, allowing Prepaid Payment Instruments interaction

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The Reserve Bank of India (RBI) has approved the collaboration of Prepaid Payment Instruments (PPIs) to increase the account limit to Rs 2 lakh of digital wallets. This was part of a larger Bank of Monetary Policy Committee (MPC) move announced on April 7.In a statement in this regard, the RBI stated that this “promotion …

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MFIs welcome RBI’s decision to give priority tag for SFB loan to small microleaders, but want more

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Microfinance industry officials have welcomed the steps announced by the Reserve Bank of India (RBI) to support small microleaders severely affected by the second wave of the epidemic. However, the industry was expecting more measures, including postponement of payments by borrowers for at least a few months, given the difficult operating environment. Announcing the measure …

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