RBI

Cryptos can lead to dollarisation of economy: RBI officials to par panel

Photo source: AP (file image) Crypto could lead to dollarisation of economy: RBI officials on equal panel. Cryptocurrencies could be a “dollarisation” of a part of the economy that would be against India’s sovereign interests, top RBI officials told a parliamentary panel, according to sources. At a briefing of the Parliamentary Standing Committee on Finance, …

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Steps taken by RBI and govt to cut duration of high inflation: Finmin report

Photo source: FILLE PHOTO CPI (Consumer Price Index) -based inflation averaged 5.5 percent in FY22, 50 basis points lower than the upper limit of the RBI Monetary Policy Committee’s inflation band. The finance ministry on Thursday said the measures taken by the RBI and the government would curb the period of high fuel inflation due …

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SBI hikes interest rates on bulk term deposits by 40-90 basis points

Photo source: File photo Representative images. State Bank of India, the country’s largest lender, on Tuesday announced a 40-90 basis point increase in interest rates on several bulk term deposits. The revised interest rate on bulk term deposits of Rs 2 crore and above will be effective from Tuesday, the bank said. The interest rate …

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RBI imposes Rs 36 lakh fine on Central Bank of India for violating customer protection norms

Photo source: PTI RBI fines Central Bank of India Rs 36 lakh for violating consumer protection rules Highlights On Friday, the Reserve Bank said it had imposed a fine of Rs 36 lakh on the Central Bank of India. The RBI, by an order dated April 18, 2022, imposed a financial penalty. The penalty was …

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Card-less cash withdrawal facility across all banks’ ATM network soon: RBI

Photo source: PTI (file) Soon cardless cash withdrawal facility across ATM network of all banks: RBI Highlights The facility is proposed to be made available through Unified Payment Interface Such transactions will be settled through the ATM network To prevent fraud, the Reserve Bank on Friday decided to allow all banks to withdraw cardless cash …

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Will RBI increase interest rate in next bi-monthly monetary policy? What experts say

Photo source: PTI (file) Will the RBI raise interest rates in the first monetary policy of the current financial year? Which is what the experts say The Reserve Bank of India’s rate-setting panel on Wednesday began discussions to strengthen its next bi-monthly monetary policy, saying it could maintain interest rate stability but change its monetary …

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