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Former RBI Governor came back to India to exchange old notes

Former Governor of Reserve Bank of India, Raghuram Rajan was no exception for the demonetisation and he himself had to come back to India to exchange scrapped currency since he had no clue about the demonetisation date. Ironically the process commenced when he was the Governor.   Rajan who was not given an extension of the RBI Governor post went ... Read More »

HDFC added in “Too Big to Fail” list by RBI

The Reserve Bank of India today included HDFC Bank in the list of ‘too big to fail’ lenders making it the third such bank after SBI and ICICI in 2015. These banks are placed under the category referred as D-SIB or domestic systemically important bank.    “The additional Common Equity Tier 1 (CET1) requirement for D-SIBs has already been phased-in ... Read More »

All eyes on RBI as it is set to announce rate cuts by 2:30PM

The Monetary Policy Committee, headed by Reserve Bank of India Governor Urjit Patel, is expected to announce a rate cut today. As per the information available, the announcement is expected to be made by 2:30PM today. The announcement will make a major impact on Stock Markets which has already breached 32,000 mark in BSE and even NIFTY reaching an all ... Read More »

New Rs 200 banknote ready to be released next month: Centre

After Rs 2000 notes, get ready for Rs 200 note in your wallet. Top level sources from the North Block have confirmed that RBI will be releasing Rs.200 note next month. “We have already started printing of the first batch of 200 rupee note in June. It takes 21 days for the printing process to complete. So we are on track to ... Read More »

Card, online payments made safer; customer liability cut

Electronic payments have become safer for consumers with the Reserve Bank of India introducing the concept of ‘zero liability’ and ‘limited liability’ for bank customers for any card or online fraud.  The central bank has also made it mandatory for banks to register all customers for text message alerts and permit reporting of unauthorized transactions through a reply to the alert ... Read More »

In coming days Bank Account Number may has portability option

It will be a great idea that account holder is having the same account even if he goes to another bank for getting an account. Reserve Bank of India’s deputy governor proposed the notion of bank account movability. He cited that banks should look into this direction of allowing bank number portability. An event organized by Banking Codes and Standard ... Read More »

RBI Governor Urjit Patel Hits Out At Farm Loan Waiver

Urjit Patel

Reserve Bank of India (RBI) Governor Urjit Patel said that there is a need for national consensus on loan waiver schemes that these promises are not made during elections. He said that a consensus is required at national level so that loan waiver promises are eschewed. Otherwise, sub-sovereign fiscal challenges could eventually affect the national balance sheet. He claimed that with such schemes the ... Read More »

Kerala’s Big Cash Crunch: ATMs, Salaries and Pensions Hit

The ghost of demonetisation has come back to haunt and this time the most literate state of India, Kerala, is facing the wrath.  Since the start if the April month, most people in Kerala are not able to withdraw money from ATMs due to the cash crunch. The Kerala government said that the cash crisis hit the treasury and is ... Read More »

India’s Current Account Deficit Jumps To 1.4% Of GDP In December Quarter: RBI


The Reserve Bank of India (RBI) has revealed that the current account deficit (CAD) widened to $7.9 billion in the Oct.-Dec. quarter of the current financial year. The current CAD is 1.4% of GDP as compared with $3.4 billion, or 0.6%, recorded in the preceding quarter. CAD was $7.1 billion in the third quarter of the fiscal 2015-16. The RBI has ... Read More »

RBI Launches BharatQR Code Interoperable Payment Acceptance Solution


Deputy Governor of Reserve Bank of India, R Gandhi launched the much anticipated BharatQR code in Mumbai today. It is an interoperable and low cost payment acceptance solution which is developed by National Payments Corporation of India (NPCI), MasterCard, and Visa. Now the consumers will not be required to scan different quick response (QR) codes at the same merchant provided by the different payment ... Read More »

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