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.
In May, RBI withdrew Rs 2,000 notes from circulation but they remain legal tender until 30 Sept. Some establishments, like Ahmedabad Nini's Kitchen, are using this to attract customers.
The Indian planning system did not encourage individuals based on ‘what they knew’, but on ‘whom they knew’. Many left for countries that recognised their talent.
The new law, which the government has framed as a moral duty, forced major platforms like Dream11 & Zupee to shut operations, wiping out hundreds of crores in market capitalisation.
Joint Doctrine for Special Forces Operations, released Wednesday, also outlines plans for the future expansion of AFSOD and the creation of Joint Service Training Institutes.
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.
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