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.
While bond yields tend to fall amid low inflation & interest rate cuts, market experts say they’ve been rising due to concerns over tax collections, fiscal deficit & potential impact of US tariffs.
To be truly functional and durable, even eternal, a state doesn’t just need a leader, a party or an ideology. It needs functional and robust institutions.
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.