The central bank said it found 'several' instances of 'unreasonable elongation of tenor' of floating rate loans by lenders without proper consent and communication to the borrowers.
The total value of Rs 2,000 notes in circulation declined to 3.56 trillion rupees as of 19th May from 3.62 trillion rupees as on 31st March, the central bank said in a statement.
The wholesale price index (WPI) in June fell 4.12%; lowest since September 2015. RBI keeps interest rates on hold, stable rates expected by economists till 2023.
The central bank also said card issuers should not enter any arrangement or agreement with card networks that restrain them from availing the services of other card networks.
Data collected from banks indicated that about 87% of the banknotes received by the lenders was in the form of deposits, while around 13% had been exchanged for other denominations.
The recent resignations of its seniormost judges are among the most pointed institutional protests Pakistan has witnessed since the lawyers’ movement of the late 2000s.
Without a Congress revival, there can be no challenge to the BJP pan-nationally. Modi’s party is growing, and almost entirely at the cost of the Congress.
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