Mumbai: The Reserve Bank of India (RBI) announced on Wednesday that it has cancelled the licence of The Karwar Urban Co-operative Bank Ltd in Karnataka as it does not have adequate capital and earning prospects. Consequently, the bank ceases to carry on banking business, with effect from the close of business on July 23, 2025..
New Delhi: A recent report from the Reserve Bank of India (RBI) highlights a significant increase in retail digital payments in India, soaring from 162 crore transactions in the financial year 2012-13 to over 16,416 crore transactions in 2023-24—an approximately 100-fold rise over the past 12 years. This growth is also reflected in the RBI’s.
New Delhi: The Central government on Monday appointed Sanjay Malhotra, Secretary (Revenue) in the Ministry of Finance as the next Reserve Bank of India Governor. He will replace Shaktikanta Das, who with a six-year stint is the second-longest serving RBI Governor. Sanjay Malhotra is a 1990 batch Indian Administrative Service (IAS) officer of the Rajasthan.
New Delhi: Indian stock indices closed with significant gains on Monday, maintaining the early momentum. This marked a strong start to the new week and helped recover some of the recent losses. The Sensex closed at 80,109.85 points, up by 992.74 points or 1.25 per cent, while the Nifty ended at 24,221.90 points, gaining 314.65.
Mumbai: India’s foreign exchange reserves stood at $657.89 billion while the gold component of the kitty was valued at $65.75 billion, as of November 15, according to official figures released by the RBI on Friday. India’s foreign exchange reserves were at $675.65 billion on November 8 but since the RBI has been releasing dollars in.
New Delhi : India’s retail inflation was at 6.21 per cent in October, breaching the Reserve Bank of India’s 6 per cent upper tolerance level. According to data released by the Ministry of Statistics and Programme Implementation on Tuesday, food inflation was at 10.87 per cent. Notably, vegetable Inflation was at 42.18 per cent. Corresponding.
New Delhi : The Reserve Bank of India (RBI) on Thursday took action against four NBFCs-Asirvad Micro Finance Ltd, Arohan Financial Services Ltd, DMI Finance and Navi Finserv — citing material supervisory concerns, and asked these entities to cease and desist sanction and disbursal of loans, effective from October 21. The central bank said the.
