The directions will have immediate effect, says the RBI. The RBI has taken the action against ECL Finance Ltd and Edelweiss Asset Reconstruction Company Limited under the SARFAESI and the Reserve Bank of India Act, 1934 The Reserve Bank of India (RBI) on Wednesday imposed business restrictions on ECL Finance Ltd and Edelweiss Asset Reconstruction … Read more
Last Updated: May 10, 2024, 21:12 IST Rao has the experience of over three decades in the Reserve Bank of India. As ED, Rao will look after the Deposit Insurance and Credit Guarantee Corporation, the Right to Information Act (FAA), and the Department of Communication The Reserve Bank of India (RBI) on Friday appointed R … Read more
The Rs 2000 banknotes continue to be legal tender, says the RBI. RBI says Rs 2,000 banknotes in circulation, which amounted to Rs 3.56 lakh crore as at the close of business on May 19, 2023, has now declined to Rs 7,961 crore The Reserve Bank of India (RBI) on Thursday said 97.76 per cent … Read more
Union Ministers Nirmala Sitharaman and Smriti Irani (FIle Image: PTI) The former RBI governor in his memoir wrote that there was ‘little understanding and sensitivity’ in the erstwhile UPA government on the importance of the RBI’s autonomy The Bharatiya Janata Party on Tuesday attacked the Congress party over former RBI Governor Duvvuri Subbarao’s claim that … Read more
Union Minister Anurag Thakur on Tuesday alleged that the Congress-led UPA government “seized” the RBI to paint an illusion of economic growth during its tenure in office. Referring to the revelations made by former RBI Governor D Subbarao in his memoirs, Thakur said, “From 2004 to 2014, under the guise of governance, the Congress-led UPA … Read more
The RBI emphasised that the regulatory framework for ETCDs has remained consistent over the years and that there was no change in the central bank’s policy approach. The RBI says it had permitted users, for the ease of doing business, to take positions of up to $100 million across exchanges without providing documentary evidence to … Read more
The previous peak level was recorded in September 2021 when the country’s foreign exchange reserves reached $642.453 billion. Gold reserves rise $347 million to $51.487 billion during the week ended March 22; special drawing rights (SDRs) were down by $57 million to $18.219 billion India’s forex reserves rose $140 million during the week ended March … Read more
Image for representation purpose only. | Photo Credit: K. PIchumani The Telangana Government has decided to raise ₹2,000 crore open market borrowings through auction of securities. The government has submitted an indent to this effect to the Reserve Bank of India (RBI) which will take up the auction process through its core banking solution e-Kuber … Read more
The MoU covers all current account transactions, permissible capital account transactions and any other economic and financial transactions as agreed upon by both countries, says RBI. The MoU on establishing a framework for cooperation in the area of cross-border transactions in local currencies between India and Indonesia aims to promote the use of Indian Rupee … Read more
File picture of RBI Governor Shaktikanta Das, who said that India accounts for 40% of all digital payments in the world | Photo Credit: ANI Reserve Bank of India Governor Shaktikanta Das said on Monday that digital transactions in India have grown 90-fold in 12 years. Mr. Das was speaking at the RBI headquarters in … Read more
