Differences between the Center and the Reserve Bank of India over interest rate cuts and inflation targeting appear to be intensifying. On Tuesday, Chief Economic Advisor (CEA) V Anantha Nageswaran stated that retail inflation is largely driven by a few key commodities—namely tomato, onion, potato (TOP), gold, and silver. Excluding these items, he noted, the…
Jio Payment Solutions, part of Jio Financial Services (JFS), has received regulatory approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator, beginning October 28, 2024. This authorization allows Jio Payments to manage digital transactions between merchants and consumers, positioning it as a competitor in the payment services sector, similar…
The Reserve Bank of India’s yen for gold seems unstoppable, notwithstanding the increase in price of the yellow metal. This is underlined by the fact that the share of gold in India’s total foreign exchange (Fx) reserves increased from 8.15 per cent as at end-March 2024 to about 9.32 per cent as at end-September 2024…
The Reserve Bank of India (RBI) has introduced new transaction limits for UPI Lite Wallet and UPI 123Pay, a significant step towards enhancing digital payment systems in India. RBI Governor Shaktikanta Das shared these updates during the monetary policy statement on Wednesday. He emphasized the impact of Unified Payments Interface (UPI) on transforming the financial…
Mumbai, Oct 09 (ANI): Reserve Bank of India (RBI) Governor Shaktikanta Das delivers the Monetary Policy statement, in Mumbai on Wednesday. (ANI Photo) Photo Credit: ANI With the inflation closer to the 4 per cent target and growth sustaining its momentum, the RBI’s rate setting panel voted unanimously to change the monetary policy stance from…
RBI, Reserve Bank of India(Photo: Reuters) 2 minutes read Last Updated : Oct 07 2024 | 11:30 PM ist The Reserve Bank of India’s (RBI’s) draft proposals to align businesses of banks and their non-bank subsidiaries is likely to have an impact on major private sector banks, including HDFC Bank, Axis Bank, Kotak Mahindra Bank,…
On the deposits front, it was able to post over 19 per cent growth, ensuring that the gap between credit and deposit growth is minimal. Image: Wikimedia Commons South India-based Federal Bank on Wednesday reported a 16.74 per cent growth in consolidated net profit to Rs 1,027.51 cr for the June quarter, helped by higher…
