Tag Archives: Reserve Bank of India

The Central government has appointed Poonam Gupta, the current Director General of the National Council of Applied Economic Research (NCAER), as the Deputy Governor of the Reserve Bank of India (RBI). She replaces MD Patra, who demitted office in January.

In a significant move, the Government of India has appointed Sanjay Malhotra, the current Revenue Secretary, as the 26th Governor of the Reserve Bank of India (RBI). The announcement was made on Monday through an official notification issued by the Centre's cabinet committee. Malhotra will succeed Shaktikanta Das, whose tenure is set to conclude on Tuesday.

According to recently released government data, retail inflation in India climbed to 5.08% in June, up from 4.8% in May 2024 and 4.87% in June 2023. The increase was primarily attributed to higher prices of essential kitchen items, highlighting ongoing economic challenges.

The Reserve Bank of India (RBI) has issued a red alert against unauthorized Prepaid Payment Instruments (PPIs) issued by certain entities, cautioning the public to exercise vigilance when dealing with such platforms. The alert specifically mentions TalkCharge Technologies Pvt. Ltd., located in Gurgaon, Haryana, for issuing PPIs without the necessary authorization from RBI.

India's retail inflation has hit a 10-month low, standing at 4.85% for the month of March 2024, compared to 5.09% in the previous month. This decline, below earlier predictions, marks a significant easing in inflationary pressures.

The Reserve Bank of India (RBI) has taken strict regulatory action against IDFC First Bank and LIC Housing Finance, imposing penalties for non-compliance with certain norms. Additionally, the RBI has canceled the certificate of registration of four Non-Banking Financial Companies (NBFCs) and received voluntary surrenders from five other NBFCs.

The Reserve Bank of India (RBI) has unveiled a significant initiative that will revolutionize banking transactions by enabling cash deposits through the popular Unified Payments Interface (UPI). This announcement was made during the first bi-monthly monetary policy of the current financial year by RBI Governor Shaktikanta Das.

In a recent development, the Reserve Bank of India (RBI) has issued a directive instructing agency banks to remain open for public transactions on March 31, 2024, which falls on a Sunday. This decision comes in light of the upcoming holidays for Holi and Good Friday, ensuring continued access to banking services during this period.

The Reserve Bank of India (RBI) has unveiled a significant drop in the circulation of ₹2000 denomination banknotes since their withdrawal announcement on May 19, 2023. According to recent data released by the central bank, the total value of ₹2000 banknotes in circulation has dwindled from ₹3.56 lakh crore to a mere ₹8,470 crore by February 29, 2024, marking a substantial decrease.

In a significant move aimed at promoting digital transactions and enhancing convenience for commuters, the Reserve Bank of India (RBI) has announced that prepaid payment instruments (PPIs) managed by both banks and non-banking institutions can now be utilized for making payments across various public transport systems.