Reserve Bank of India (RBI)
-
GDP expected to grow 6-6.5 per cent in FY24: BoB Eco Research
Experts from various agencies have estimated India's economic growth for the fiscal year 2023-24 to be in the range of 6-6.5%. While there are slight variations in decimal points, the consensus suggests a positive outlook for the country's GDP growth....
Published On May 29th, 2023 -
RBI Approves Merger of Maratha Co-op Bank with Cosmos Co-op Bank
The Reserve Bank of India (RBI) has granted approval for the voluntary Scheme of Amalgamation of Maratha Sahakari Bank with The Cosmos Co-operative Bank. The merger is set to take effect from May 29, 2023, as announced by the RBI....
Published On May 27th, 2023 -
Gupshup Launches UPI Payments for Feature Phone Users, Bringing Financial Inclusion to All
Gupshup.io, a conversational engagement platform, has unveiled a groundbreaking solution that enables UPI payments for feature phone users through its native app called GSPay. This innovative approach allows seamless payment experiences using SMS, eliminating the need for internet connectivity. Leveraging...
Published On May 26th, 2023 -
RBI Projects Robust Economic Growth in India, Expects Q1 GDP Growth at 7.6%
The Reserve Bank of India (RBI) has announced its economic activity index nowcast, forecasting a strong GDP growth rate of 7.6% for the first quarter of the fiscal year 2023-2024 (Q1 FY24). The central bank's analysis indicates that India's domestic...
Published On May 24th, 2023 -
RBI Approves Rs 87,416 Crore Surplus Transfer to Government for FY23, Triple the Previous Year’s Amount
The Reserve Bank of India (RBI) has approved the transfer of Rs 87,416 crore surplus to the government for the financial year 2022-23. This amount is nearly three times higher than the previous year's transfer of Rs 30,307 crore. The...
Published On May 20th, 2023 -
RBI Announces Withdrawal of ₹2000 Banknotes from Circulation
RBI Announces Withdrawal of ₹2000 Banknotes from Circulation The Reserve Bank of India (RBI) has made a significant decision to withdraw the ₹2000 denomination banknotes from circulation. Although these banknotes will no longer be issued, they will retain their status...
Published On May 19th, 2023 -
RBI Cancels Certificate of Registration of 7 NBFCs and Surrender Permits of 14 NBFCs
RBI Cancels Certificate of Registration of 7 NBFCs and Surrender Permits of 14 NBFCs: The Reserve Bank of India (RBI) has taken significant actions in the financial sector, canceling the certificate of registration of seven non-banking finance companies (NBFCs) and...
Published On May 17th, 2023 -
RBI Launches 100 Days Campaign to Settle Unclaimed Deposits
RBI Launches 100 Days Campaign to Settle Unclaimed Deposits: The Reserve Bank of India (RBI) has announced the launch of a special 100-day campaign to trace and settle unclaimed deposits in every district of the country. Under the campaign, which...
Published On May 13th, 2023 -
RBI collaborates with GFIN to prevent ‘greenwashing’
RBI collaborates with GFIN to prevent 'greenwashing': The Reserve Bank of India (RBI) has joined forces with the Global Financial Innovation Network (GFIN) to participate in the Greenwashing TechSprint. The event aims to address concerns surrounding exaggerated, misleading, or unsubstantiated...
Published On May 13th, 2023 -
Reserve Bank’s gold reserves rose 4.5% to 794.64 tonnes in 2022-23
Reserve Bank’s gold reserves rose 4.5% to 794.64 tonnes in 2022-23: The Reserve Bank of India (RBI) has increased its gold reserves by 4.5% to 794.64 metric tonnes in the fiscal year that ended on March 31, 2023. The bank...
Published On May 10th, 2023
