[ad_1] (Bloomberg Opinion) — In the very near future, we will learn the identities of three new āexternalā members of the Reserve Bank of Indiaās six-person monetary policy committee. The system is relatively new. The government must use this opportunity to strengthen, not weaken it.Ā The very existence of a monetary policy committee is one…
[ad_1] The remarkable insights into the changing pattern of household consumption thrown up by the latest Household Consumption Expenditure Survey (HCES) 2023-24 are of special relevance for a wide range of policy decisions. Take, for instance, an issue that seemed to have become a bone of contention between the government and the Reserve Bank of…
[ad_1] Reserve Bank of India (RBI) Governor Shaktikanta Das expressed optimism about the future growth and global expansion of the Unified Payments Interface (UPI) during a recent press briefing. Das, who is currently on a five-day visit to a state, highlighted the ongoing discussions with several countries to extend UPI’s reach through QR codes and…
[ad_1] The Reserve Bank of India (RBI) has issued the framework for recognition of self-regulatory organisation (SROs) in financial markets. This framework released on Monday was done in the aftermath of āOmnibus Framework for recognition of SROsā which were issued early this year in March, 2024. It is noteworthy that RBI recently invited applications for…
[ad_1] The Reserve Bank of India (RBI) on Thursday said 97.92 per cent of the ā¹2,000 banknotes in circulation have been returned to the banking system. The total value of ā¹2,000 banknotes, which was ā¹3.56 lakh crore on May 19, 2023, when the withdrawal was announced, has declined to ā¹7,409 crore, the central bank said….
[ad_1] The Reserve Bank of India (RBI) imposed fines on payment system operators Visa Worldwide, Ola Financial Services and Manappuram Finance for deficiencies in regulatory compliance. The central bank imposed a penalty of ā¹2.4 crore on Visa Worldwide Pte Limited, ā¹41.5 lakh on Manappuram Finance Limited and ā¹87.55 lakh fine on Ola Financial Services in…
[ad_1] Kotak Mahindra Bank Ltd has appointed Grant Thornton Bharat as the external auditor as part of measures to plug gaps in its information technology (IT) systems, months after the banking regulator barred it from onboarding new customers through its website and mobile app. In April, the Reserve Bank of India (RBI) said it found…
