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.
Amid speculations at emergence of bank notes having a star (*) symbol in the number panel, the Reserve Bank of India (RBI) on Thursday clarified that these are the same as any other legal tender, with the only difference being that in the number panel, a star symbol is added between the prefix and the serial number.
The Reserve Bank of India (RBI) on Wednesday issued a draft circular on issuance of debit, credit, and prepaid cards, directing that card issuers shall issue cards across more than one card network and also give an option to customers to choose from any one among the multiple card networks.
A RBI panel has suggested that in the long run, India will achieve higher level of trade linkages with other countries, as a result of which the rupee is likely to reach a level where it would be widely used, and proposed the currency’s inclusion in International Monetary Fund’s (IMF) Special Drawing Rights (SDR) basket.
The Delhi High Court on Monday dismissed a Public Interest Litigation (PIL) seeking direction to quash the Reserve Bank of India's (RBI) decision to withdraw the Rs 2000 denomination banknotes from circulation.
Celebration of National Statistics Day, Das said, provides an opportunity for sensitising the general public, especially the younger minds, about the discipline of statistics.
