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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

CAD

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

BharatQR

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 »

RBI Monetary Policy Preview: A Possibility Of 25 Basis Points Rate Cut

RBI MPC

The Reserve Bank of India will have to take the interest rate related decision as the two day meeting of six-member Monetary Policy Committee (MPC) meeting starts today. The MPC will be considering the impacts on note ban, budget and inflation numbers. Most of analysts and bankers have been expecting a cut of 25 basis points in the repo rate. ... Read More »

New Rs 100 Notes Soon: Reserve Bank of India

Urjit Patel

The Reserve Bank of India (RBI) will start the circulation new Rs 100 banknotes very soon as per the recent notification from the central bank. The new notes will be quite similar to the design of Mahatma Gandhi Series-2005 bank notes. The RBI said that it very issue new Rs 100 denomination banknotes in the ongoing Mahatma Gandhi Series-2005. The upgraded note ... Read More »

RBI Removes Cash Withdrawal Limit From ATM For Current Accounts

RBI

The Reserve Bank of India (RBI) took another step to ease out the pain of common public which it suffered due to withdrawal limits from ATM and Bank Accounts. The RBI has removed the withdrawal limits from Current Account ATMs from February 1. It also said that the limit on Saving Account withdrawal of Rs. 24,000 a week will continue. ... Read More »

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