The move comes as an effort by the central bank to reduce cash reserve ratio and review bank liquidity. India's banking system liquidity surplus stood at Rs 2.44 tn as of 23 June.
RBI lifted ceiling on interchange fee on ATM withdrawals through circular issued Friday. Interchange fee is amount one bank pays another to facilitate ATM transactions.
RBI Monetary Policy Committee member Ram Singh says Budget 2025 provides opportunity for govt to show it is doing its part to address growth-inflation dynamics.
In its first advance estimates for the current financial year, govt predicts growth to be slower than RBI’s prediction of 6.6% & much lower than 8.2% seen in FY24.
While gross FDI flows have stagnated over past few years, repatriation & disinvestment by foreign firms has surged. Indian companies, too, are investing much more abroad.
Narrowing of the wedge between credit and deposit growth, and the possible easing of the monetary policy, could weigh on the net interest margin of banks in 2025.
Indian political leaders will have to prepare their public for the prospect of concessions India never really held—just as Chinese leaders must admit Arunachal Pradesh and Ladakh were never theirs.
New bill aims to fix key issues with IBC 2016, including delays & patchy implementation, and protect creditors, with window for genuine promoters to retain control of their companies.
Putin sees this as a victory. Europeans have decided to deal with Trump on his terms for the sake of the larger Western alliance. We look at the lessons for us in India.
RBI doesn’t mandate to get documentary proof, but as per availability. A declaration on ownership will also suffice.
Also the 1kg limit is on gold ornaments and not on jewellery.