The Reserve Bank of India’s Monetary Policy Committee (MPC) kept the repo rate unchanged at 6.5 per cent for the eight consecutive times. RBI India’s GDP (gross domestic growth) projection to 7.2 per cent for FY 25, up from 7 per cent that it had expected earlier. Consequently, the standing deposit facility (SDF) rate remains unchanged at 6.25 per cent… Continue reading "RBI keeps rates unchanged for eighth consecutive time"
The Reserve Bank of India (RBI) on Friday kept its key lending rate unchanged at 6.5% for the seventh consecutive time. The decision was taken by a 5:1 majority at the bi-monthly Monetary Policy Committee (MPC) meeting, said RBI Governor Shaktikanta Das. An unchanged repo rate means the loan interest rates too are likely to remain unchanged. The RBI had… Continue reading "Reserve Bank of India keeps repo rate unchanged"
The Reserve Bank of India has announced its decision to withdraw Rs 2,000 notes from circulation. The central bank has asked citizens to exchange them at banks by September 30. All banks have been asked to provide deposit or exchange facilities for Rs 2,000 banknotes till September 30. The central bank also said in order to ensure operational convenience and… Continue reading "RBI to withdraw Rs 2000 notes from circulation"
The RBI on Wednesday mandated that digital loans must be credited directly in the bank accounts of borrowers and not through any third party, as it put in place strict norms to curb rising malpractice in digital lending space. Besides, the Reserve Bank of India said digital lending entities and not the borrowers should pay fees or charges payable to… Continue reading "RBI issues new norms for digital lending"