RBI: Page 3

News and Trends

Digital Rupee Has 50,000 Users And 5000 Merchants: RBI

The pilot project started on December 1 has witnessed 7.70 lakh transactions, and is now being carried out in five cities

News and Trends

RBI Hikes Repo Rate By 25 Basis Points To 6.50 Per Cent

While the central bank has increased rates, it called the Indian economy resilient

News and Trends

SBI Granted Loans Worth INR 21,000 Crore To Adani Groups, Half Of What Allowed Under Rules: Report

The report also claimed that more than INR 1600 crore of the amount was granted to Adani Group through SBI's overseas units

News and Trends

IDFC FIRST Bank And ToneTag Partner To Launch CBDC Payments

The digital rupee offers features of physical cash like trust, safety and settlement finality

News and Trends

No Issue With Cryptocurrency In India If Laws Are Followed: Rajeev Chandrasekhar

The minister's remark contradicts the central bank's view advising investors to stay away from crypto

News and Trends

Too Premature To Think India Will Replace China In Influencing Global Economic Growth: Raghuram Rajan

The former RBI governor also said that, however, the situation may change going forward as India is already the world's fifth largest economy, it is growing and has the potential to keep expanding

News and Trends

States Should Mainstream Capital Expenditure Planning: RBI

According to the report, the capital spending by states saw a robust 31.7% growth on year at INR 5.89 trillion in FY22

Finance

Marching Towards Future Of Money

The central bank defines CBDC as a legal tender in a digital form issued by it. It is the same as a sovereign currency and is exchangeable at 1:1 par with fiat currency

News and Trends

RBI Allows Six Entities To Test Fintech Products To Deal With Financial Frauds

The RBI said it had received nine applications under the fourth cohort, of which six entities have been selected for the 'test phase'

News and Trends

4:1, SC Upholds the Demonetisation Decision

Six years after an eventful night, the Supreme Court upholds the decision and deems the demonetisation "legal"

News and Trends

It Is Important To Have a Common Approach For Crypto Assets: RBI Report

The report also added that various options are being considered internationally in this context

News and Trends

There Is Global Consensus For Use Of E-Currency: RBI Report

RBI is among the pioneers, having launched a CBDC, the e-Rupee, for both wholesale and retail use

News and Trends

Indian Banks' Balance Sheet Grows In Double Digits: Report

The RBI data reportedly revealed that PSBs estimated at 62% of the deposits of the scheduled commercial banks, while on the other hand on loans, they held 58% market share

News and Trends

Credit Card Spends Fall For First Time Since July: RBI Data

The number of transactions per card also declined, in line with the reduction in expenditure per card - at 2.9 transactions versus 3.2 in October

News and Trends

RBI To Promote Innovation In Fintech Sector, Says Shaktikanta Das

RBI governor emphasized that fintech initiatives and startups are the important segments of aspirational India