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Page 3 - Reserve Bank

Gold price declines Rs 10 to Rs 72,810, silver rises Rs 100 at Rs 87,300

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 72,960, Rs 72,810, and Rs 72,970, respectively

Gold price declines Rs 10 to Rs 72,810, silver rises Rs 100 at Rs 87,300
Updated On : 15 May 2024 | 7:54 AM IST

Gold price declines Rs 10 to Rs 73,250, silver down Rs 100 at Rs 86,400

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 67,290, Rs 67,140, and Rs 67,240, respectively

Gold price declines Rs 10 to Rs 73,250, silver down Rs 100 at Rs 86,400
Updated On : 14 May 2024 | 7:47 AM IST

Reserve Bank of India repurchases govt bonds worth Rs 10,512 crore

Most of the funds were picked up by state-owned banks and insurance companies, said market participants

Reserve Bank of India repurchases govt bonds worth Rs 10,512 crore
Updated On : 09 May 2024 | 7:24 PM IST

Dollar swap option returns to India after RBI rule change for lenders

The central bank, effective Friday, expanded the range of products banks can offer to eligible corporates, which included swaptions, or an option to enter into an interest rate swap

Dollar swap option returns to India after RBI rule change for lenders
Updated On : 03 May 2024 | 3:01 PM IST

India, Nigeria agree to early conclusion of local currency settlement

India and Nigeria have agreed to an early conclusion of a local currency settlement system agreement to further strengthen economic ties between the two countries. According to the department of commerce, a seven-member delegation from India led by Additional Secretary in the commerce ministry Amardeep Singh Bhatia visited Abuja, Nigeria for the second session of India-Nigeria Joint Trade Committee (JTC) on April 29-30. It was held after a gap of five years. Both sides have identified several focus areas to enhance bilateral trade and mutually beneficial investments. The sectors include crude oil, natural gas, pharmaceuticals, unified payments interface (UPI), local currency settlement system, power and renewable energy, agriculture and food processing, education, transport, railway, aviation, and MSMEs development. "Both sides agreed to the early conclusion of a local currency settlement system agreement to further strengthen bilateral economic ties," the department has said on ..

India, Nigeria agree to early conclusion of local currency settlement
Updated On : 01 May 2024 | 12:48 PM IST

RBI plans curbs on suspect bank accounts to fight cyber fraud: Report

The suspensions would target accounts frequently misused to transfer funds gained from cyber crime, both government sources said

RBI plans curbs on suspect bank accounts to fight cyber fraud: Report
Updated On : 25 Apr 2024 | 11:34 PM IST

RBI to soon launch app for retail investors to participate in govt bonds

The Reserve Bank on Friday announced the launch of a mobile app to enable retail investors to participate in government securities (G-Secs) or government bonds market. RBI Retail Direct Scheme, launched in November 2021, gives access to individual investors to maintain gilt accounts with the RBI and invest in government securities. The Scheme enables investors to buy securities in primary auctions as well as buy/sell securities through the Negotiated Dealing System - Order Matching system (NDS-OM) platform. "To further improve ease of access, a mobile application of the Retail Direct portal is being developed. The app will enable investors to buy and sell instruments on the go, at their convenience. The app will be available for use shortly," RBI Governor Shaktikanta Das said, while announcing the first bi-monthly monetary policy for the current fiscal. The government is planning for gross market borrowing of Rs 14.13 lakh crore for 2024-25. Out of this Rs 7.5 lakh crore, or 53 per

RBI to soon launch app for retail investors to participate in govt bonds
Updated On : 05 Apr 2024 | 12:40 PM IST

RBI MPC FY25: Repo rate kept unchanged at 6.5% for seventh consecutive time

The RBI MPC has also decided to keep its stance of "withdrawal of accommodation" unchanged with a majority of 5-1

RBI MPC FY25: Repo rate kept unchanged at 6.5% for seventh consecutive time
Updated On : 05 Apr 2024 | 10:34 AM IST

First FY25 RBI MPC meeting: When, where to watch RBI governor's speech

RBI monetary policy: The MPC decision will be announced by Shaktikanta Das at 10 am on Friday, followed by a press conference at noon

First FY25 RBI MPC meeting: When, where to watch RBI governor's speech
Updated On : 04 Apr 2024 | 6:51 PM IST

Services PMI registers strongest growth in 13.5 yrs, rises to 61.2 in Mar

In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction

Services PMI registers strongest growth in 13.5 yrs, rises to 61.2 in Mar
Updated On : 04 Apr 2024 | 12:16 PM IST

'No change in RBI's stance on underlying exposure to forex derivatives'

The RBI had said in January that effective April 5, exchanges may offer forex derivative contracts involving the rupee to users "for the purpose of hedging contracted exposure"

'No change in RBI's stance on underlying exposure to forex derivatives'
Updated On : 03 Apr 2024 | 12:28 PM IST

First RBI MPC meet for FY25 starts today: Here is all you need to know

RBI Policy Meet: Experts believe the RBI will keep the repo rate unchanged at 6.5% and focus on bringing inflation towards the 4% target

First RBI MPC meet for FY25 starts today: Here is all you need to know
Updated On : 03 Apr 2024 | 11:58 AM IST

Searing heat wave in the country boosts RBI case to wait on rate cuts

The pace of inflation in India has remained above the central bank's 4% target for the last few months, giving policymakers reason to remain cautious

Searing heat wave in the country boosts RBI case to wait on rate cuts
Updated On : 02 Apr 2024 | 12:26 PM IST

RBI has transitioned into being enabler for market economy: Shaktikanta Das

Shaktikanta Das stated that the RBI has evolved from a central bank focused on resource allocation during the planning era to an enabler for the market economy

RBI has transitioned into being enabler for market economy: Shaktikanta Das
Updated On : 01 Apr 2024 | 1:53 PM IST

India's forex reserves rise by $140 mn to hit fresh peak of $642.63 bn

India's forex reserves increased by USD 140 million to touch its all-time high of USD 642.631 billion during the week ended March 22, the Reserve Bank said. This is the fifth consecutive week of a jump in the overall reserves. The kitty had increased by USD 6.396 billion to USD 642.492 billion in the previous reporting week. The previous peak level was recorded in September 2021 when the country's foreign exchange reserves reached USD 642.453 billion. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year. For the week ended March 22, the foreign currency assets, a major component of the reserves, decreased by USD 123 million to USD 568.264 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves

India's forex reserves rise by $140 mn to hit fresh peak of $642.63 bn
Updated On : 30 Mar 2024 | 12:11 PM IST

Fitch raises GDP growth estimates for FY24, FY25, tempers view on rate cuts

The RBI has kept the repo rate unchanged at 6.50% for the last six consecutive meetings and has reiterated its commitment to reaching the 4% inflation target on a sustainable basis

Fitch raises GDP growth estimates for FY24, FY25, tempers view on rate cuts
Updated On : 14 Mar 2024 | 12:41 PM IST

RBI directs credit card issuers to give users choice of other networks

RBI on Wednesday said issuers of credit cards shall not enter into any arrangement or agreement with card networks that restrain customers from availing the services of other networks

RBI directs credit card issuers to give users choice of other networks
Updated On : 06 Mar 2024 | 10:36 AM IST

Indian economy still growing below its potential, says Jayanth R Varma

Varma says if the economy is not overheating, there is no need of a high real interest rate, which can choke growth

Indian economy still growing below its potential, says Jayanth R Varma
Updated On : 23 Feb 2024 | 11:13 PM IST

RBI press conference LIVE: It is supervisory action on Paytm, says Guv Das

RBI MPC Meeting Live Updates: RBI's MPC which began on February 6 has concluded today. The Central bank's MPC has decided to keep the repo rate unchanged at 6.5%. Catch all updates here

RBI press conference LIVE: It is supervisory action on Paytm, says Guv Das
Updated On : 08 Feb 2024 | 1:22 PM IST

RBI to introduce offline digital rupee transactions soon: Governor Das

Digital rupee users will soon be able to execute transactions in areas with limited internet connectivity as the RBI on Thursday announced that offline capability will be introduced on the Central bank digital currency (CBDC) pilot project. Reserve Bank of India Governor Shaktikanta Das said that programmability-based additional use cases will be introduced as part of the pilot project. RBI launched a pilot of the retail CBDC in December 2022 and achieved the target of having 10 lakh transactions a day in December 2023. It can be noted that other payment platforms, especially the very popular Unified Payments Interface (UPI), already offer offline possibilities. "it is proposed to introduce an offline functionality in CBDC-R (Retail) for enabling transactions in areas with poor or limited internet connectivity," Das said while announcing the bi-monthly monetary policy review. He said multiple offline solutions, which include both proximity and non-proximity based ones, will be tes

RBI to introduce offline digital rupee transactions soon: Governor Das
Updated On : 08 Feb 2024 | 1:21 PM IST