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.
Several questions were raised over the sudden rush of people in exchange for Rs 2000 notes and ED, Economic Offense Wing Officials are investigating the matter.
The Indian rupee is facing headwinds as higher yields on US bonds and rising crude oil prices in the global market have firmed up the demand for dollars.
Governor Das discussed the multifaceted challenges confronting the global economy, emphasizing the intricate balance required in policymaking amidst these complexities.
he RBI has slapped a Rs 5.39 crore fine on Paytm Payments Bank for not complying RBI guidelines related to know your customer (KYC) norms and not reporting incidents of cyber security breaches in time.
In the ever-fluctuating realm of economics, forecasts serve as guiding stars for policymakers, investors, and citizens alike.
