In its fifth bi-monthly monetary policy meeting for FY25, the Reserve Bank of India (RBI), led by Governor Shaktikanta Das, decided by a 4-to-2 majority to maintain a ‘neutral’ monetary policy stance.
View More RBI keeps Repo Rate unchanged at 6.5%, cuts CRR to 4% amid economic challenges
Retail inflation, after averaging 6.7% in FY23, declined to 5.4% in FY24, thanks to effective administrative and monetary policy responses. Food inflation rose from 6.6% in FY23 to 7.5% in FY24
View More Economic Survey 2023-24: Core inflation at 9-year low; Food inflation increased
The RBI’s directive, issued under Section 35A of the Banking Regulation Act, 1949, underscores the central bank’s concerns about deficiencies observed during its IT examinations of KMB for the years 2022 and 2023. Despite receiving corrective action plans from the RBI in both years, subsequent assessments revealed ongoing non-compliance by the bank.
View More RBI restricts Kotak Mahindra Bank from online customer onboarding
The RBI’s Monetary Policy Committee kept the repo rate unchanged at 6.5%, signaling stability amid a complex economic landscape.
View More RBI holds repo rate unchanged in first monetary policy of FY25
This decision marks the sixth consecutive time that the RBI has refrained from altering the rate for the financial year 2023–24, underscoring stability in monetary policy.
View More RBI holds repo rate steady at 6.5% amidst optimistic economic projections
NEW DELHI: Paytm CEO Vijay Shekhar Sharma came under limelight after the Reserve Bank of India (RBI) imposed restrictions on the Paytm Payments Bank, prohibiting…
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The central bank had declared the withdrawal of Rs 2,000 notes on May 19, 2023.
View More RBI confirms 97.26% of Rs 2,000 notes returned since May 19 withdrawal
Arvind believes Re 1 notes hold historical and intrinsic value
View More Meet Kerala notaphilist preserving legacy of Re 1 notes
NEW DELHI: In another evening surprise, the Reserve Bank of India (RBI) has withdrawn ₹2000 banknotes from circulation. But one need not to panic. The…
View More How can you still deposit ₹2000 notes in bank? RBI explains