The e-rupee, or the digital rupee, is a digital currency issued by the RBI [File] | Photo Credit: REUTERS The story so far: Fintech companies including Google, PhonePe, Amazon Pay, Cred, and Mobikwik are looking to join the Indian central bank’s digital currency project by allowing their users to transact in e-rupee via Unified Payments … Read more
The Reserve Bank of India’s (RBI’s) decision to keep the policy repo rate unchanged offers significant relief to home loan borrowers. As RBI maintains a status quo, the equated monthly installments (EMIs) are unlikely to see a surge. Borrowers who were bracing for a hike can breathe a sigh of relief. The RBI’s Monetary Policy … Read more
The Manipur government has declared that the whole State of Manipur has been affected by riots and violence, impacting the economic activities and livelihood of majority of the general public. To provide relief to the affected people and businesses, the State government has invoked a rarely used Reserve Bank of India (RBI) provision pertaining to restructuring … Read more
Represenatational image | Photo Credit: G. Ramakrishna Bank unions AIBOC and AIBEA have opposed the Reserve Bank’s move to allow lenders to settle loans of wilful defaulters under compromise settlement. The RBI’s recent ‘framework for compromise settlements and technical write-offs’ is a detrimental step that may compromise the integrity of the banking system and undermine … Read more