Finance News

RBI Governor Shaktikanta Das continues to bat for policy rate hikes In line with expectations, the six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) on Wednesday increased the policy repurchase or repo rate by 25 basis points (bps) to a four-year high of 6.5 per cent. The committee retained its stance ...

Moderation of pace of rate hikes gives RBI room to assess impact: Das The Reserve Bank of India’s Monetary Policy Committee (MPC) on Wednesday raised the repo rate by 25 basis points to 6.50 per cent in order to bring inflation back towards the central bank’s 4 per cent target. The RBI management, including Governor Shaktikanta Das ...

RBI to launch pilot project for QR-based coin vending machines in 12 cities Reserve Bank of India (RBI) Governor Shaktikanta Das said on Wednesday that the central bank would launch a pilot project on QR code-based coin vending machines (QCVM). These vending machines will dispense coins against a debit to the customer’s account using Unified Payments ...

Rupee appreciates 19 paise to end at 82.51 against US dollar The rupee appreciated 19 paise to close at 82.51 (provisional) against the US dollar on Wednesday after the Reserve Bank of India (RBI) hiked the repo rate by 25 basis points. A rally in the domestic equity markets and weakness in the greenback against ...

Ahead of ban order, RBI gave a list of apps working with NBFCs to govt The Reserve Bank of India gave a list of apps, which were working with non-bank lenders registered with the central bank, to the government ahead of the ban imposed on some apps earlier this week, officials said on Wednesday. “We ...

MPC’s optimistic growth outlook augurs well for credit demand In its February 2023 review, the Monetary Policy Committee (MPC) of Reserve Bank of India (RBI) has raised the policy rates for the sixth consecutive time since May 2022. With the recent hike of 25 basis points (bps), and a cumulative hike of 250 bps, the repo rate ...

RBI MPC increases repo rate by 25 bps, pegs FY24 inflation at 5.3% The Reserve Bank of India’s Monetary Policy Committee has raised the repo rate by 25 basis points to 6.50 per cent in order to bring inflation back towards the central bank’s 4 per cent target, said governor Shaktikanta Das on Wednesday. The ...

Travellers to India from G20 nations can use UPI for merchant payments: RBI The Reserve Bank of India (RBI) will let travelers to the country use UPI for merchant payments, expanding the scope of the ubiquitous funds transfer system. Unified Payments Interface (UPI) will be first extended to travellers from G-20 countries arriving at select ...

Rupee appreciated 4 paise to 82.66 against US dollar in early trade The rupee appreciated 4 paise to 82.66 against the US dollar in early trade on Wednesday, supported by a firm trend in domestic equities ahead of the Reserve Bank of India’s monetary policy decision. However, investors remained concerned over rising crude prices in ...

RBI Monetary Policy: Repo rate hiked by 25 bps to 6.5% as inflation eases On Wednesday, the Reserve Bank of India (RBI) governor Shaktikanta Das announced a repo rate hike of 25 basis points (bps), taking the key benchmark interest rate to 6.5 per cent. The MPC’s decision was split 4-2. This is the first rate hike ...