Governor Shaktikanta Das on Monday said that permanent deletion of transactions can make the e-rupee or central bank digital currency (CBDC) become anonymous and make it at par with paper currency. Speaking at the BIS Innovation Summit, Das said India is also working on making the CBDC transferable in the offline mode along with introducing … Read more
KOLKATA: Central bankers may have to junk their historical economic models to handle crises in the future after they were found deficient during the pandemic, with the global economy undergoing a paradigm shift spawned by rapidly altering labour dynamics and advancements in artificial intelligence, said the governor of the Reserve Bank of India (RBI). Emerging … Read more
Reserve Bank Governor Shaktikanta Das on Monday said lower government borrowings than the market estimates will free more capital for the private sector resulting in easing of inflation and bolstering growth. “This year’s borrowing is lower than what initially the markets had expected. Lower quantum of borrowing means…it would ensure that much more resources will … Read more
The National Payments Corporation of India (NPCI) has asked its members to comply with the Reserve Bank of India’s (RBI’s) decision to increase the UPI transaction limit to Rs 5 lakh for hospitals and educational services by January 10. The NPCI has instructed banks, payment service providers (PSPs), and UPI applications to increase transaction limits … Read more
UPI transactions in 2023: India has witnessed an exceptional surge in Unified Payments Interface (UPI) transactions in 2023. In FY2022-23, 8,375 crore transactions were reported up from 92 crore transactions in FY 2017-18, showcasing a compound annual growth rate (CAGR) of 147% in terms of volume. UPI has emerged as a significant player in India’s … Read more
Indian banks are strong enough to withstand adverse macroeconomic and credit stress without compromising on the regulator-mandated capital position, but the wide adoption of technology and innovation are threatening financial stability, requiring regulators’ attention, the Reserve Bank of India said. Perception of riskiness of the Indian banking system has improved in relation to the global … Read more
Mumbai: When Reserve Bank of India (RBI) Governor Shaktikanta Das began Friday by saying that the monetary policy review was not just a ‘status quo’ one but would ‘reveal and give an idea of our approach not only to monetary policy but also to various aspects of monetary policy,’ few knew what was in store. … Read more
In the recently concluded meeting of the Monetary Policy Committee, chaired by Reserve Bank of India Governor Shaktikanta Das, the panel unanimously decided to keep the repo rate- the key lending rate- unchanged at 6.5 per cent for the fourth time in a row, also leaving its policy stance unchanged with focus on withdrawal of … Read more
RBI Governor Shaktikanta Das-headed Sub-Committee of the Financial Stability and Development Council (FSDC-SC) on Monday resolved to remain vigilant against any build-up in vulnerabilities in the financial system as well as in the broader economy amid uncertain global environment. With a view to strengthening and institutionalising the mechanism for maintaining financial stability, enhancing inter-regulatory coordination … Read more
Mumbai: Bajaj Housing Finance, the home finance subsidiary of Bajaj Finance, has sought more time from the Reserve Bank of India (RBI) to list on the local stock market, arguing that the October 2025 deadline is too soon for a housing finance company (HFC) that is just five-and-a-half years old. The request was made during … Read more