Indian stock markets opened higher on Wednesday, with gains led by the information technology and pharmaceutical sectors as investors anticipated the Reserve Bank of India’s (RBI) monetary policy decision, expecting the central bank to hold interest rates steady. As of 9:44 a.m. IST, the Nifty 50 index rose by 0.25% to 25,073 points, while the S&P BSE Sensex climbed 0.18% ...

In a pivotal move, the Reserve Bank of India (RBI) has kept its benchmark interest rates unchanged at 6.5%, but shifted its policy stance to neutral, signaling a potential rate cut in December. The announcement came after a three-day monetary policy committee (MPC) meeting that concluded today. Five out of the six members of the MPC voted to maintain the ...

As the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meets from October 7-9, experts are predicting that the central bank will maintain the current policy rates. The decision is expected to be influenced by persistent inflationary pressures and uncertainties in the global economic landscape. While the U.S. Federal Reserve has recently cut rates, signaling a potential easing cycle, ...

The Reserve Bank of India (RBI) has recently raised concerns over deficiencies in gold-lending practices, urging gold lenders to review their policies and practices and implement corrective measures within a three-month timeframe. This directive comes in the wake of a review conducted by the RBI, which revealed several irregularities in the gold loan sector. Gold loans, which are granted against ...

GDP for 2022-23 projected to grow at 7.0%. Internet banking facility to be started for Regional Rural Banks’ customers. Regulation of offline payment aggregators proposed. Repo Rate hiked to 5.90% The repo rate, the rate at which RBI lends money to commercial banks, has been hiked by 50 basis points again. Considering the prevailing adverse global environment, resilience in domestic ...

The government-run small savings schemes remained to provide the same interest rates since the past two years though the bank fixed deposit rates have considerably increased the interest rate. The small savings schemes’ interest rates were last revised in the first quarter of 2020-21, though banks have drastically hiked their home loan and term deposit rates after the Reserve Bank ...

As reported earlier, new Rs. 200 notes have entered the circulation with many ATMs being recalibrated to provide the notes which are similar in size to Rs.500 notes but vary in colour with the colour yellow dominating the appearance. The Reserve Bank of India, the central bank, has described the ne note as the missing link in the demonetisation process ...

As per data reported by the Reserve Bank of India (RBI), the number of cyber crime pertaining to credit card, ATM, debit card and Internet banking shows a marginal increase of 4.4% from 13,083 in 2014-15, to 13,653 in 2016-17. RBI has issued Cyber Security Framework in Banks, mandating banks to put in place a Board-approved cyber-security policy, which covers ...

The Ministry of Finance, Government of India through its Department of Financial Services(DFS) has asked all the Public Sector Banks(PSBs) and the Indian Bankers Association (IBA) to ensure hundred percent(100%) that deposits of new currency is properly reflected in the customers’ counterfoils. In a letter addressed to all the Managing Directors (MDs) & Chief Executive Officers (CEOs)/Chairman cum Managing Directors ...

Now that the UK has done what was expected in the last one decade, exiting from the European Union, Britain’s Prime Minister David Cameron has decided to quit from the office in October as the referendum went against his wish to continue in the Union. In India, the government’s reaction is on expected lines that the economy has enough "firepower" ...