India’s bank credit growth has been powered by retail lending over the last few years and this is cyclical in nature, according to RBI’s June bulletin.
UPI transactions in May 2023 touched Rs 14.3 trillion in terms of value and 9.41 billion in volume.
A month after RBI started the process of withdrawal of Rs 2,000 notes, over 72% of these have been either exchanged or deposited in banks.
Bringing down inflation will revive consumer spending, boost corporate revenues and profitability, which is the best incentive for private capex, a Reserve Bank paper said.
RBI penalises Axis Bank, Bank of Maharashtra and Jammu & Kashmir Bank for violation of rules.
Minutes of June MPC show differences among the members about future course of rate hikes; Jayanth Varma says monetary policy stance is becoming disconnected from reality.
Madhivanan Balakrishnan has been elevated to the position of executive director and chief operating officer of IDFC First Bank following the Reserve Bank of India's approval.
Government appoints Swaminathan Janakiraman as RBI deputy governor for three years; he will succeed Mahesh Kumar Jain, whose tenure ends on 22 June.
Bank of Maharashtra presents dividend cheque of Rs 795.94 cr to Finance Minister Nirmala Sitharaman.
India’s retail inflation eases to 25-month low of 4.25% and falling below RBI’s upper tolerance limit of 6% for 3rd consecutive month.
State Bank of India will raise up to Rs 50,000 crore via debt instruments from Indian as well as overseas markets in the current fiscal.
India’s GDP growth is now on firm footing with urban demand showing good traction while the lagging rural demand is a cause of concern, according to a report by SBI.
About 85% of Rs 2,000 notes have returned in form of bank deposits, RBI Governor Shaktikanta Das said; no plans to re-introduce Rs 1,000 notes.
RBI permits RuPay to issue foreign currency cards, a move that will progressively bring it on par with global card networks such as Visa and Mastercard.
RBI keeps policy repo rate unchanged for second time in a row at 6.50% amid moderation in inflation; MPC votes 5 members to 1 to remain focused on withdrawal of accommodation.
