The Reserve Bank has lifted its ban on the 'sanction and disbursal of loans' by Asirvad Micro Finance and DMI Finance Pvt Ltd, in a big relief to the two microfinance companies, according to an RBI circular issued on Wednesday.
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.
In the ever-fluctuating realm of economics, forecasts serve as guiding stars for policymakers, investors, and citizens alike.
RBI’s ban on onboarding customers via BOB World can affect the growth trajectory of Bank of Baroda in the retail product segments over the near term, analysts said.
The central bank said in its notification that the action is based on certain material supervisory concerns observed in the “manner of onboarding” of their customers onto this mobile application.
The Reserve Bank of India (RBI) has maintained its resolute stance on inflation control, holding the key lending rate at 6.5 per cent for the fourth consecutive policy meeting.
In its last three meetings in April, June, and August, the RBI kept the repo rate unchanged at 6.5 per cent.
