Tag Archives: Reserve Bank of India

The Reserve Bank of India (RBI) has penalized Union Bank of India with a Rs 1 crore fine and RBL Bank with a Rs 64 lakh fine for non-compliance with regulatory directions and violations, respectively. The penalties were issued after a thorough review of the banks' responses and oral submissions made during the personal hearing.

The Reserve Bank of India (RBI) reiterates that September 30, 2023, is the final day for exchanging ₹2,000 denomination banknotes, after which they will lose their value.

India is set to introduce 50-year bonds for the first time in response to increasing demand from insurance and pension funds, diversifying its debt offerings and extending its yield curve. This move aligns with the changing landscape of India's sovereign debt market and aims to reduce the government's reliance on bank purchases for funding record borrowings.

-commerce giant Amazon has announced that it will discontinue the acceptance of Rs. 2,000 banknotes for cash on delivery (COD) services starting September 19, 2023. This move comes as the deadline for exchanging or depositing Rs. 2,000 notes approaches its end.