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Maharashtra Transport Bank Accused of Financial Mismanagement

NCP MLA Rohit Pawar raises concerns about financial irregularities at the Maharashtra State Transport Cooperative Bank, including the appointment of a 23-year-old managing director and interest rate cuts leading to deposit withdrawals....

Indian Banks Boost Global Presence: Subsidiaries Soar, Foreign Branches Retreat

Indian banks saw a surge in their global footprint, with subsidiaries growing from 399 to 417 and foreign branches witnessing a decline from 858 to 774 in 2022-23....

Asset Monetization: A Key Strategy for States to Enhance Non-Tax Revenue

The Reserve Bank of India's annual report on state budgets highlights the potential of asset monetization in sectors like roads, transport, and power to boost non-tax revenues and accelerate infrastructure development....

After Onion, Garlic Prices Increase Pressure On Indian Household Budget, Rates Double In 6 Weeks

Garlic prices have almost doubled in the last six weeks, with retail prices for 1 kg of garlic touching Rs 250. According to The Economic Times report, the average wholesale prices are around Rs 130-140 per kg, while, the wholesale rate ...

UPI transaction Limit Raised To Rs 5 Lakh: What Fintech Sector Should Know From RBI Dec 8 Meeting

In a big move, on the concluding day of the three-day RBI Monetary Policy Committee (MPC) meeting, Reserve Bank of India Governor Shaktikanta Das on Friday raised the limit of UPI transactions for specific purposes from Rs 1 lakh to Rs ...

Former RBI Governor S Venkitaramanan Passes Away at 92

Former Reserve Bank of India Governor S Venkitaramanan passed away on Saturday at the age of 92. He had served as the 18th Governor of the RBI between December 1990 and December 1992....

Banking system needs Rs 84,000 crore of excess capital: SBI economists

The banking system will need Rs 84,000 crore of excess capital due to revised unsecured loans risk weights introduced by the Reserve Bank of India, economists at the country's largest lender SBI said on Friday....

Technology Impact: RBI Shows Interest in Innovation for Transformation

The deputy governor of the Reserve Bank of India (RBI), T Rabi Sankar, stated that technology has a significant impact on human activities and fintech is transforming the global financial system. Find out why central banks are increasingly involved in technology and why the RBI participated in a hackathon....

RBI Maintains Status Quo: Remains Vigilant of the Inflation and Liquidity

The Reserve Bank of India (RBI) paused for 4th time in a row, kept the repo rate unchanged and maintained stance as "withdrawal of accommodation". It was the fourth bi-monthly monetary policy of FY24 and decision was unanimous to keep the ...

RBI Raises Monetary Ceiling Of Gold Loans Under Bullet Repayment Scheme For Select UCBs

The Reserve Bank of India's (RBI) Monetary Policy Committee meeting (MPC) which concluded on Friday made an important announcement with respect to gold loans that can be granted under the bullet repayment scheme in a bid to incentivize Primary (Urban) Co-operative ...

RBI Kept Repo Rate Unchanged: How Would It Impact On Mutual Fund Investments?

As the the RBI Monetary Policy Committee maintained the key policy repo rate at 6.5% the Debt mutual funds can breathe easy. At its fourth consecutive meeting, the MPC kept the repo rate unchanged. Earlier at its meeting in February 2023, ...

Reserve Bank's UDGAM Portal Expands: Now Includes 30 Banks for Easy Access to Unclaimed Deposits

The Reserve Bank of India's UDGAM portal, which enables people to claim and search unclaimed deposits, has onboarded 30 banks. This initiative covers around 90% of such unclaimed deposits in value terms....

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