RBI slaps ₹1 crore penalty on Paytm Payments Bank

  The Reserve Bank of India on Wednesday fined Paytm Payments Bank Ltd (PBBL) ₹1 crore for submitting information that did not reflect the factual position in its application for a final Certificate of Authorization (CoA). A central bank press statement said that the offence comes under the Payment and Settlement Systems Act, 2007 (PSS Act). […]

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Parked your money in bank FDs? You have a reason to worry

Senior citizens and others depending upon income from bank fixed deposit (FD) schemes will be at the receiving end with the retail inflation exceeding the interest rates. The Reserve Bank of India (RBI) in its latest monetary policy review has projected retail inflation at 5.3 per cent for the current financial year. Last week, the […]

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RBI Rule: Good News! Torn note came out of an ATM, then replace it like this; Know the rules of RBI

Exchange Torn Currency: Many times it is heard that even torn or mutilated notes come out from ATMs. Along with this, mutilated notes keep running in the market too. What would you do if you came across such a torn note? Today we are going to tell you the guidelines of Reserve Bank of India […]

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RBI working on offline digital payments framework, hikes IMPS limit to Rs 5 lakh

The Reserve Bank of India (RBI) on Friday made a series of announcements on the payments system, including an increase in the per-transaction limit for Immediate Payment Service (IMPS) to Rs 5 lakh from Rs 2 lakh and the introduction of geo-tagging for payment system touch points. The per-transaction limit in IMPS, effective from January […]

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Transfer Money Without Internet: RBI Announces Retail Digital Payments for Offline Users

Reserve Bank of India Governor, Shaktikanta Das, on Friday announced a new scheme on retail digital payments solutions in the offline mode. “A scheme to test technologies that enable digital payments even in remote places where internet connectivity is either absent or barely available was announced in August 2020. Given the encouraging experience gained from […]

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RBI raises IMPS transaction limit; Check limits on RTGS, NEFT transfers

The Reserve Bank of India (RBI) on Friday proposed to increase the per transaction limit on the Immediate Payment Service (IMPS) from the existing Rs 2 lakh to Rs 5 lakh. IMPS managed by the National Payments Corporation of India (NPCI) is a payment system providing 24×7 instant domestic funds transfer facility and is accessible […]

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10-year bond yields surge to 18-month high on RBI taper

  MUMBAI: The yield on the 10-year government bonds rose 5 basis points to hit an eighteen-month high on Friday after the Reserve Bank of India suspended its government securities acquisition programme, which analysts believe is a hawkish step. The yield on the 10-year government was at 6.307% – a level last seen on 17 […]

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Rate-Sensitive Auto, Banking Shares Trade Mixed Post RBI Policy

  The rate-sensitive auto and banking shares are trading mixed post the Monetary Policy announcement. The RBI maintained the status-quo on benchmark rates, keeping the repo rate unchanged at 4 per cent and the reverse repo rate steady at 3.35 per cent, the RBI Governor Shaktikanta Das said at the end of the bi-monthly Monetary Policy Committee (MPC) review […]

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RBI may signal stimulus to tackle inflation concerns

  Reserve Bank of India (RBI) is poised to leave its key interest rate unchanged for an eight straight meeting to support economic growth, while likely signaling readiness to unwind some pandemic-era stimulus to tackle inflation concerns. All 30 economists surveyed by Bloomberg as of Wednesday expect the six-member Monetary Policy Committee to leave the repurchase […]

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Deepening energy crisis in India raises inflation alarm as RBI meets

  Higher oil prices and coal shortages risk fanning inflation and slowing economic growth in India ahead of a central bank meeting, while punishing the nation’s currency and bonds. A lack of coal means factories could shut, while forcing India to import more fossil fuels at a time when crude prices at a seven-year high […]

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