India's Gross Domestic Product (GDP) is projected to grow at 6.4 per cent in the financial year 2024-25 down from 8.2 per cent growth recorded in 2023-24, according to the first advance estimates released by the Ministry of Statistics on Tuesday.
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 RBI had announced the withdrawal of Rs 2,000 denomination banknotes from circulation on May 19, 2023 as part of its clean note policy.
Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday expressed grave concern over the high “concentration” of credit that NBFCs were availing from banks to finance their lending operations and said this has emerged as “a risk” in the system.
The Reserve Bank of India approved the resolution plan for debt-ridden Reliance Capital on Friday.
There are many collaboration opportunities between India and Japan in semiconductors and resilient supply chains, rare-earths extraction, space technology, artificial intelligence, quantum computing, said RBI Governor Shaktikanta Das in Tokyo on Thursday.
Federal Bank was penalised as it issued some demand drafts, each for a value of rupees fifty thousand and above, without incorporating the name of the purchaser on the face of it.
