RBI Reserve Bank of India has announced a significant overhaul to the current Cheque Truncation System (CTS), shifting from batch-based to continuous clearing and settlement on realisation. This reform aims to drastically reduce cheque clearance times from up to two working days to just a few hours. Phase 1 Starting October 4, 2025.Single cheque presentation […]
Amid Sweet Jumlas of “Achhe Din”, “Amrutkal” According to sources, the latest Report of the RBI Reserve Bank of India has revealed a cautious picture of Indian economy. The anti-people policy of the Modi government at the Center, failure in Economic Sector, Inflation, Unemployment, Farmer’s Suicides, said Manish Doshi Spokesman of Gujarat Pradesh Congress Committee, […]
Today RBI Reserve Bank of India has reduced the repo rate by 50 basis points to 5.5%. This marks the third consecutive rate cut this year, totaling a 100 basis point reduction since February. Lowered to 5.5% from 6.0%. Cash Reserve Ratio Reduced by 100 basis points to 3%, implemented in four staggered tranches. Shifted […]
BOI Bank of India has reduced interest rates on short-term and medium-term fixed deposits for select periods with effect from April 15. It has withdrawn the special fixed deposit scheme for 400 days term where the interest rate was highest of 7.3 %. Today on 12th April decision came post RBI Reserve Bank of India […]
RBI Reserve Bank of India has reduced interest rates by 0.25% amid a spate of downgrades to growth following Donald Trump’s tariff announcements. RBI reduced repo rates from 6.25% to 6%, a second cut since February when rates were brought down after 5 years. The move is expected to lower home and auto loan EMIs, offering […]
RBI Reserve Bank of India has approved hike in ATM interchange fees by Rs 2 for financial transactions and Re 1 for non-financial transactions and the revision will be effective from May 1, as per media source. The cash withdrawal fee will go up to Rs 19 from Rs 17 per transaction, and the balance check […]
December 6, 2024 Today RBI Reserve Bank of India has decided to retain the repo rate unchanged at 6.5%, Governor Shaktikanta Das announced. For the 11th consecutive time the repo rate has remained unchanged at 6.5%. Meanwhile, the RBI cut the CRR cash reserve ratio by 50 basis points to 4%. This comes at a […]
Releases commemorative coin to mark 90 years of RBI “RBI plays a pivotal role in advancing our nation’s growth trajectory” “RBI has witnessed both the pre and post-independence eras and has created an identity around the world based on its professionalism and commitment” “Today we have reached a point where the Indian banking system is […]
Mr Abheek Barua, Chief Economist, HDFC Bank, on the monetary policy commented of the RBI policy, which was status quo as the central bank kept its policy rate and stance unchanged, as expected. However, the RBI seemed less hawkish on liquidity management compared to the previous policy which could be seen as a signal of […]
RBI Reserve Bank of India has decided to withdraw Rs 2,000 currency notes from circulation. However, the notes will continue as legal tender, the central bank said in a circular on Friday. The RBI has advised banks to stop issuing Rs 2,000 currency notes with immediate effect. In a circular, the central bank said that […]
