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
Courtesy: Reuters
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
Courtesy: NDTV
Rupee Falls By 49 Paise To Rs 81.89 Against US Dollar, Raises Economic Concerns
In closing the market, the rupee fell by 49 paise, to 81.89 against the US dollar. The fall in INR put selling pressure on the domestic equities and a spike in crude oil prices, on October 3. Moreover, a stronger greenback against key rivals and persistent foreign fund outflows impacted the domestic currency. The constant fall of rupee against USD, close at 82-mark, raises concern for RBI and traders.
Tags: business, Stock market, USD, Indian Currency, RBI
Courtesy: NDTV
RBI Raises Concern Over Unethical Loan Recovery Practices
The Reserve Bank of India raised concerns over the growing unethical loan recovery practices, usurious interest rates and data privacy issues, on September 21. It also flagged certain material concerns regarding the mushrooming of digital lending apps. Amid the need of the hour to ensure safety following a process of whitelisting and due diligence by the regulated entities, the RBI Governor Shaktikant Das raised the concerns.
Tags: Loan Apps Recovery, Unethical Recovery, RBI, SHAKTIKANTA DAS, New Policy
Courtesy: The New Indian Express
RBI Imposes Fines On 5 Cooperative Banks For Irregularities
The Reserve Bank of India has imposed penalties on five cooperative banks, on September 5. The penalty of Rs 25 lakh has been imposed on The Karnataka State Co-operative Apex Bank, Rs 15 lakhs on Thane Bharat Sahakari Bank Limited, Rs 5 Lakh Rani Laxmibai Urban Co-operative Bank, Jhansi, Rs 2 lakh on Nicholson Co-operative Town Bank and Rs Urban Co-operative Bank, Rourkela, for irregularities and other illegality,.
Tags: Irregularities, Cooperative Bank, RBI, penalty, business
Courtesy: The Free Press Journal
RBI Hikes Repo Rate By 50 Bps To Tame Inflation; Repo Rate At 5.40%
To tackle high inflation in the country, RBI's monetary policy committee has raised the repo rate by 50 bps, to 5.40%. Notably, the new repo rate is higher than that of pre-pandemic levels, which was 5.15%. Notably, demand in the economy is typically suppressed by increasing interest rates. The move "might have an immediate impact on home buying for short term," said… read-more
Tags: RBI, Inflation, repo rate, Bank Rate, Shakti Kanta Das
Courtesy: ANI
RBI Revises Repo Rate By 5.40%, Highest Since 2019
The Reserve Bank of India revised the benchmark lending rate, Repo Rate by 5.40% or 50 basis points, on August 5. RBI Governor Shaktikanta Das announced the latest hike, the repo rate or the short-term lending rate at which banks borrow has crossed the pre-pandemic level of 5.15%. Notably, this is the third time after the Covid-19 pandemic, that the reserve repo rate has been hiked, also the highest since… read-more
Tags: Reserve Repo Rate, RBI, Governor Shaktikanta Das, MPC, Bank Loan
Courtesy: NDTV
RBI Monetary Committee Concludes Meeting Over Policies
Aiming to curb rising domestic inflation in India, the Reserve Bank of India's monetary policy committee, held a meeting, to discuss various monetary policies. The six-member panel commenced the meeting on August 3, which will issue a revision of the interest rate hike, which is currently at 4.90%. Furthermore, the outcome of the recently concluded RBI Monetary Policy Committee will be announced in a press conference, on August 5.
Tags: RBI, Money Policies, Reserve Repo Rate, Committee, meeting
Courtesy: ANI