Finance News

RBI Monetary Policy: MPC hikes repo rate by 35 basis points, know what experts have to say The Reserve Bank of India (RBI) hiked the repo rate by 35 basis points (bps) to 6.25 per cent on Wednesday. RBI governor Shaktikanta Das said that the Monetary Policy Committee (MPC) voted 5-1 to raise the rates. RBI lowered its GDP ...

RBI extends dispensation on HTM bond books till March 2024 The Reserve Bank of India (RBI) said on Wednesday it has extended the dispensation of an enhanced limit of the held-to-maturity (HTM) portfolio for government bonds till March 31 next year, enabling banks to better manage their investment portfolios. It permitted banks to include securities purchased between ...

RBI Monetary Policy: How central bank’s stance on GDP, inflation changed in 2022 The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) on Wednesday continued with the repo rate hike, raising it 35 basis points (bps) to 6.25 per cent. In 2022, the repo rate was raised 225 bps from 4 per cent in April to 6.25 per ...

MPC ups inflation projection for Q3 and Q4, keeps it at 6.7% for full FY23 After writing to the government over its failure to contain the retail price inflation up to six per cent for three consecutive quarters, the Monetary Policy Committee (MPC) on Wednesday retained its projections for the rate of price rise at 6.7 per cent for ...

RBI introduces single-block-and-multiple debits functionality in UPI The Reserve Bank of India (RBI) on Wednesday announced introducing a single-block-and-multiple debits functionality in Unified Payments Interface (UPI). Customers can enable a payment mandate for a merchant by earmarking funds in their bank accounts for debits whenever required. According to RBI, the functionality will make payments easier for e-commerce ...

Over Rs 12 crore swindled from Kozhikode Corporation accounts in PNB Over Rs 12 crore have been swindled from several accounts of the Kozhikode Corporation in a Punjab National Bank here and the prime accused — a former senior manager of the bank — is still at large. The fraud came to light last month when the ...

RBI hikes repo rate by 35 bps to 6.25%; accommodation withdrawal continues On Wednesday, the Reserve Bank of India (RBI) hiked the repo rate by 35 basis points (bps) to 6.25 per cent. RBI governor Shaktikanta Das said that Monetary Policy Committee (MPC) voted 5-1 to raise the rates. RBI also lowered its GDP growth forecast for FY23 to ...

RBI set to raise rates today; outlook on growth, inflation in focus The Reserve Bank of India (RBI) is widely seen raising its key lending rate by 35 basis points on Wednesday as inflation continues to stay above its tolerance band but markets will be looking to its outlook on growth and prices for direction. A strong ...

What is credit score? Why is it important? You might need access to a loan for various reasons. A credit card can come in handy for small purchases on credit. And if you are carrying one, it is crucial that you have a good credit score because the easy availability of personal, consumer and other types of loans, along with ...

ICICI Bank, Axis Bank likely to raise Rs 5,000 cr each via bond sales Private sector lender ICICI Bank is likely to raise up to Rs 5,000 crore through the issuance of long-term bonds on Thursday, sources told Business Standard. The bonds, which are likely to have a maturity of seven years, include a base size of ...