Exchange Of Rs 2,000 Continues, SBI Collected Rs 17,000 Crore
The withdrawal of Rs 2,000 notes from circulation has been a ruckus for businessmen as they rush to banks for exchange. Despite a span of four months given by the Reserve Bank of India, the flow of money exchange continues. Notably, a considerable number of people are disposing of Rs. 2,000 notes. Furthermore, within a week, the State Bank of deposits and exchanged currency worth Rs 3,000 crore.
Tags: Bank, SBI, Indian Business, RBI, Rs 2000 Notes
Courtesy: The Free Press Journal
Delhi HC Rejects Plea Filed Over Rs 2,000 Note Exchange
The Delhi High Court dismissed a public interest litigation (PIL) filed against the decision of no identity proof and requisition slip, in order to exchange Rs 2,000 notes. The PIL opposed the Reserve Bank of India's (RBI) decision and demanded the court to direct the agency to reverse its order. However, the HC bench led by Justice Satish Kumar Sharma, refused to entertain the petitioner
Tags: RBI, Delhi HC, Notes Exchange, Rs 2000, Petition
Courtesy: Press Trust Of India
Delhi HC Lists PIL Against Rs 2,000 Note Withdrawal By RBI On May 29
The Delhi court, which was hearing a PIL challenging the RBI's decision to withdraw the banknote from circulation, posted the matter for hearing on May 29. The withdrawal of Rs 2000 denomination banknotes from circulation was a “currency management exercise”, said RBI. A bench headed by Chief Justice Satish Chandra Sharma is reviewing the matter, and asked the RBI to defer the decision of the withdrawal of Rs 2,000 notes.
Tags: Delhi HC, Indian government, RBI, Rs 2, 000 note
Courtesy: Press Trust of India
RBI Keeps Reserve Repo Rate Unchanged At 6.5%
In a major business development, the Reserve Bank of india (RBI) kept repo rate unchanged at 6.5%. The last time RBI Monetary Policy Committee announced a hike in reserve repo rate by 25% was in 2023 February. The decision was taken considering the current inflation and economic crisis, globally. However India and its made in India initiative is working wonders, with India maintaining its economic situation.
Tags: RBI, monetary policy committee, Reserve Repo Rate, Indian Business, Inflation
Courtesy: Live Mint
RBI Likely To Hike Repo Rate By 25 Basis Points
To maintain the inflation in India, the Reserve Bank of India is likely to go for another hike in rates. Notably, the Central Bank will announce its bi-monthly monetary policy on April 6. If experts are to be believed, the RBI will hike its repo rate by 25 bps, to control inflation. In February, India’s retail inflation stood at 6.44%, while in January, it was at 6.52%.
Tags: RBI, repo rate, Inflation, National Business, News 2023
Courtesy: The Indian Express
RBI Likely To Pause Its Interest Rate Hike In April
The Reserve Bank of India (RBI) is expected to pause its interest rate hike and the current 6.5 percent repo rate could be the terminal rate for now, said SBI Research in its latest Ecowrap report. The repo rate is the interest rate at which the RBI lends money to all commercial banks. The next monetary policy meeting is scheduled for the first week of April 2023.
Tags: business, RBI, Interest Hike, banking sector, MPC Committee
Courtesy: Zee News India
RBI To Soon Launch Rs 100 Coin With Image Of NTR
The Reserve Bank of India (RBI) is soon to launch Rs 100 coin with the image of the former CM of Andhra Pradesh and founder of the TDP N.T. Rama Rao. The decision was taken by the Central Government, to honour the services of NTR. Furthermore, the coin composed of 50% silver, 40% copper, 5% nickel and 5%zinc, will be available in the market after two months, at Rs 4,160.
Tags: NTR, Andhra Pradesh, Silver Coin, RBI, Rs 100 Coin
Courtesy: The Hans India
RBI Announces Hike In Repo Rate To 6.5%
The Reserve Bank of India hiked the repo rate by 25 basis points to 6.5%, on February 8. Governor Shaktikanta Das announced the decision of the monetary policy committee of six members, taken with a majority of 4 votes. In December 2022, the repo rate was raised by 0.35 percentage points to 6.25%. While repo rate hiked, there was no change in the reverse repo rate of 3.35%.
Tags: RBI, SHAKTIKANTA DAS, Reserve Repo Rate, repo rate, Indian Banks
Courtesy: Hindustan Times
RBI Seeks Details Of Exposure Of Adani Group Money In Local Banks
The Reserve Bank of India (RBI) on February 2, intervened in the ongoing Hindenburg and Adani Group matter. The Central Bank sought details from local banks about their exposure to Adani Groups and submit a report regarding the same. The decision to intervene in the matter was taken after the recent $100 million downfall of the… read-more
Tags: Adani Groups, RBI, Legal Report, Hindenburg V/S Adani, FPOs
SEBI Hikes Interest Rates, EMIs, Loans To Be Expensive
The country's largest public sector lender, the State Bank of India (SEBI) has increased the repo & reverse repo rate, making loans expensive for customers. The loan rate with a hike of 50 basis point, after the announcement of the RBI's new repo rate by 0.5% to take it to 5.90%, which came into effect from October 1, making EMIs to get costlier across all loan categories, including home loans.
Tags: SEBI, business, Expensive Loan, RBI, interest rate