Over 98% of Rs 2,000 bank notes have been returned: RBI
A total of 98.12% of the Rs 2,000 bank notes in circulation as on May 19, 2023, have been returned at the close of business on December 31, 2024.
A total of 98.12% of the Rs 2,000 bank notes in circulation as on May 19, 2023, have been returned at the close of business on December 31, 2024.
The Reserve Bank of India (RBI) on Monday directed all banks to put in place a facility to enable a remitter to verify the beneficiary bank account name before initiating a transaction using the RTGS or NEFT system.
The Indian economy and the domestic financial system are underpinned by strong macroeconomic fundamentals, healthy balance sheets of banks and non-banks with returns on assets at decadal highs, according to the RBI financial stability report released on Monday.
Employee attrition in private sector banks has witnessed an increase to about 25 per cent, RBI said in a report. It highlighted that this high turnover rate poses significant operational risk.
The foreign exchange reserves fell for a third consecutive week as of December 20, data from the Reserve Bank of India said on Friday.
Amidst the waves of economic optimism, the Reserve Bank of India (RBI) finds itself anchored by concerns over inflation, specifically the looming spectre of food price pressures.
The RBI has also showcased good numbers for the gross domestic product (GDP) and inflation.
In the country’s ever-shifting economic landscape, the Reserve Bank of India (RBI) finds itself positioned on a tight-rope, carefully weighing inflation concerns against the impending call for rate cuts.
“The Memorandum of Understanding (MoU) establishes a framework for the Bank of England to place reliance on the Reserve Bank of India's (RBI) regulatory and supervisory activities while safeguarding UK's financial stability," the RBI said in a statement.
The RBI had announced the withdrawal of Rs 2,000 denomination banknotes from circulation on May 19, 2023 as part of its clean note policy.
