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RBI rejects 6 applications for setting up banks
Business

RBI rejects 6 applications for setting up banks

The RBI in a statement said the examination of six applications has now been completed as per the procedure laid down under the guidelines

SBI announces 10 basis points hike in MCLR: Here's how it will impact your home, car loan EMIs
Business

SBI announces 10 basis points hike in MCLR: Here's how it will impact your home, car loan EMIs

Introduced by the Reserve Bank of India in 2016, MCLR is the minimum interest at which banks can lend to their customers. MCLR is generally revised on a monthly basis

RBI's move to raise rates, good monsoon will help in containing inflation: CII president
Business

RBI's move to raise rates, good monsoon will help in containing inflation: CII president

CII estimates India's GDP growth to be in the band of 7.4 - 8.2 per cent, depending upon the global oil prices

At 7.79% retail inflation soars to eight-year high in April
Business

At 7.79% retail inflation soars to eight-year high in April

Inflation has remained above the RBI's comfort zone of 6 per cent for four months in a row mainly due to the Russia-Ukraine war which has impacted the prices of commodities across the globe

Rate hike wasn't surprising, timing was, says Finance Minister Nirmala Sitharaman
Business

Rate hike wasn't surprising, timing was, says Finance Minister Nirmala Sitharaman

The timing of RBI's rate hike came as a surprise but not the action itself as people thought it should have been done anyway

RBI hikes key interest rate by 40 bps to 4.40% in a surprise move to tackle inflation
Business

RBI hikes key interest rate by 40 bps to 4.40% in a surprise move to tackle inflation

Consequently, the standing deposit facility (SDF) rate stands adjusted to 4.15 per cent while the marginal standing facility (MSF) rate and the Bank Rate to 4.65 per cent.

Reserve Bank of India hikes interest rate by 40 bps to 4.40%
Business

Reserve Bank of India hikes interest rate by 40 bps to 4.40%

The decision follows an unscheduled meeting of the Monetary Policy Committee, with all six members unanimously voting for a rate hike while maintaining the accommodative stance

RBI Governor Shaktikanta Das to make statement at 2 pm today, here's direct link to watch online
Business

RBI Governor Shaktikanta Das to make statement at 2 pm today, here's direct link to watch online

It is not clear yet on what RBI Governor Shaktikanta Das will talk about, but his statement comes in the backdrop of inflation rates in India that have soared and remained over the central bank's upper tolerance band of 6 per cent

India's forex reserves slide to $600.42 billion; seventh straight weekly fall
Business

India's forex reserves slide to $600.42 billion; seventh straight weekly fall

India's forex reserves have fallen sharply after touching an all-time high of $642.453 billion on 3 September, 2021

It may take 12 years for Indian economy to overcome COVID losses, says RBI report
Business

It may take 12 years for Indian economy to overcome COVID losses, says RBI report

The RBI released the Report on Currency and Finance (RCF) for the year 2021-22 on Friday whose theme is ‘Revive and Reconstruct’ in the context of nurturing a durable recovery post-COVID and raising trend growth in the medium-term

Delhi HC seeks Centre, RBI stand on plea concerning accessible financial services for visually challenged
India

Delhi HC seeks Centre, RBI stand on plea concerning accessible financial services for visually challenged

The petitioner stated that his concern was not with respect to an absence of law to address access to financial services for the visually challenged but a lack of their implementation

Retail inflation rises to 6.95% in March, highest in 17 months
Business

Retail inflation rises to 6.95% in March, highest in 17 months

CPI-based inflation for urban India rose to 6.12 per cent in March 2022 from 5.75 per cent in the previous month

RBI regulated markets to start trading at 9 am from 18 April
Business

RBI regulated markets to start trading at 9 am from 18 April

From 18 April, the trading hours of these markets will be from 9 am to 3.30 pm, the central bank said in a release on Monday

RBI cuts FY23 growth forecast to 7.2% amid geopolitical uncertainties
Business

RBI cuts FY23 growth forecast to 7.2% amid geopolitical uncertainties

Earlier this year, the Economic Survey in January had projected a growth rate of 8-8.5 per cent for the current fiscal

Fuel pricing: The devil is in the nuances
Business

Fuel pricing: The devil is in the nuances

Despite the pandemic and geopolitical challenges, the government has largely been able to protect people from the full brunt of the global oil price vagaries without comprising fiscal prudence

RBI says sensitive to economic sanctions on Russia, no formal rupee-rouble payment platform in place yet
India

RBI says sensitive to economic sanctions on Russia, no formal rupee-rouble payment platform in place yet

RBI Deputy Governer also clarified that there is no new payment platform available between New Delhi and Moscow since the war erupted in late February

Now, cardless cash withdrawals to be available at all bank ATMs through UPI, says RBI
Business

Now, cardless cash withdrawals to be available at all bank ATMs through UPI, says RBI

The Reserve Bank of India's Shanktikanta Das announced the move to enhance the ease of transactions and help plug frauds such as card skimming, card cloning

RBI maintains status quo; leaves benchmark lending rate unchanged at 4%
Business

RBI maintains status quo; leaves benchmark lending rate unchanged at 4%

This is the 11th time in a row that the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das has maintained the status quo.

India's GDP to grow at 7.4% in 2022-2023, says Ficci Economic Outlook Survey
Business

India's GDP to grow at 7.4% in 2022-2023, says Ficci Economic Outlook Survey

The RBI is expected to continue supporting the ongoing economic recovery by keeping the repo rate unchanged in its April policy review, the survey said

RBI Assistant admit card 2022 out at rbi.org.in, check steps to download hall tickets here
India

RBI Assistant admit card 2022 out at rbi.org.in, check steps to download hall tickets here

The RBI Assistant prelim exam 2022 will be tentatively conducted on 26 and 27 March 2022. The exam will consist of three papers of objective-type multiple-choice questions.