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RBI to focus on disinflation, food inflation sticky to core, says RBI's MP
Updated : 1 year, 7 months ago IST
Das said, "Inflation is gradually trending down, but the pace is slow and uneven. The durable alignment of inflation to the target of 4.0 per cent is still some distance away. Persistent food inflation is imparting stickiness to headline inflation. Inflation expectations need to be kept a
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India's Manufacturing and services sector's performance reflected in Purch
Updated : 1 year, 7 months ago IST
The Purchasing Managers' Index (PMI) for Manufacturing, stood at 58.1 in July 2024. This figure is not only significantly above the long-term average but also among the highest recorded in recent years. The sector's expansion has been primarily driven by strong demand and a surge in producti
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Financial sector should enhance digitisation in credit delivery to help MS
Updated : 1 year, 7 months ago IST
Swaminathan J, Deputy Governor, Reserve Bank of India (RBI) on Wednesday said that the financial sector should leverage digitisation in credit delivery to help Micro, Small and Medium Enterprises (MSMEs).
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PhonePe launched 'Credit Line on UPI', expanding payment flexibility for c
Updated : 1 year, 7 months ago IST
The new offering allows consumers to link their credit lines from banks to the Unified Payments Interface (UPI) on the PhonePe platform, enabling seamless merchant payments and providing a new dimension to the digital payment ecosystem.
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PM Modi congratulates RBI Governor Das on A+ rating in Global Finance Repo
Updated : 1 year, 7 months ago IST
Prime Minister Narendra Modi, on Wednesday, congratulated Reserve Bank of India's (RBI) Governor, Shaktikanta Das for bagging an A+ grade rating in the Global Finance Central Banker Report Cards 2024.
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Deposit growth of banks will pick up from coming quarters: Axis Securities
Updated : 1 year, 7 months ago IST
The credit growth in the Indian banks will continue to be more than the deposit growth, a report by the 'Axis Securities' has said while also noting that bank deposit growth will pick up in the coming quarters.
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IndusInd bank shares up 2.6 pc, lender received RBI approval for AUM busin
Updated : 1 year, 7 months ago IST
The shares of IndusInd bank surged more than 2.67 per cent after the bank received approval from the Reserve Bank of India (RBI) to establish a wholly-owned subsidiary for undertaking the asset management business of Mutual Funds, the bank informed the exchange in a filing.
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RBI issues framework for recognition of Self-Regulatory Organisations in f
Updated : 1 year, 7 months ago IST
The framework was introduced given the potential role of Self-Regulatory Organisations (SROs) in strengthening compliance culture among their members and also providing a consultative platform for policy-making.
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RBI says demand conditions in Indian economy are gathering momentum
Updated : 1 year, 7 months ago IST
The demand conditions in the economy are gathering momentum after some slack in the first quarter of 2024-25, the Reserve Bank of India said in its monthly bulletin of August 2024.
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Deposit insurers may look for full coverage for small depositors, senior c
Updated : 1 year, 7 months ago IST
Asserting that full insurance coverage for all depositors appears somewhat financially non-viable, RBI Deputy Governor M. Rajeshwar Rao suggested that if this could be given to certain sections of the customers -- small depositors, senior citizens, or pools deposits of smaller depositors
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Rural economy is driving India's growth, Govt capex in infra will stimulat
Updated : 1 year, 7 months ago IST
The Rural economy of India has emerged as a significant driver of economic growth, outpacing urban areas largely due to increased government spending in the recent quarters, highlighted a report by Anand Rathi, a financial service company.
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India's economic stride strengthening rupee's internationalisation in new
Updated : 1 year, 7 months ago IST
With growing global fragmentation, and geopolitical and geostrategic shifts, de-dollarisation plans are gathering currency. On the other hand, BRICS countries are working on reducing dollar dominance in the global financial system by replacing it with a new global currency.
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