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RBI Issues Master Direction for Asset Reconstruction Companies
Updated : 1 year, 11 months ago IST
According to the directions, to commence the business of securitisation or asset reconstruction, an ARC is required to have a minimum net owned fund (NOF) of Rs300 crore and thereafter, on an ongoing basis.
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PayU Receives RBI's In-Principle Approval to Operate as a Payment Aggregat
Updated : 1 year, 11 months ago IST
New Delhi [India], April 24: PayU, one of India's leading digital financial services providers, today announced that it has received the in-principle authorisation from the Reserve Bank of India (RBI) with regard to its online payments aggregation (PA) business.
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Meet Yaksha and Yakshi doorkeepers of RBI
Updated : 1 year, 11 months ago IST
Inspired by ancient Indian religious texts, the famous Indian sculptor Ram Kinkar Baij crafted these sculptures to represent the sibling demi-gods who serve Kubera, the deity of wealth. According to mythology, Yaksha and Yakshi are entrusted with the sacred duty of safeguarding the treasures
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India must annually grow 8-10% to achieve its developmental goals: RBI
Updated : 1 year, 11 months ago IST
To achieve its developmental goals over the next three decades, the Indian economy must grow at a rate of 8-10 per annum over the next decade to reap the demographic dividend that started accruing from 2018 and, as calculations show, will last till 2055, according to an article in the Reserv
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Outpacing merchandise exports, India's services capturing larger share of
Updated : 1 year, 11 months ago IST
India's services exports, in US dollar terms, grew at a robust compound annual growth rate (CAGR) of more than 14 per cent over the last 30 years (between 1993 and 2022), significantly higher than India's merchandise export growth (10.7 per cent) as well as world services export growth (6.8
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RBI announces premature redemption price for SGB: Investors to receive Rs
Updated : 1 year, 11 months ago IST
According to the Government of India notification dated October 06, 2017, and October 08, 2018, premature redemption of SGB may be permitted after the fifth year from the date of issue, aligning with the date on which interest is payable on the bond.
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IPO Bound Shivalic Power Control Limited Is Emerging As A Prominent Player
Updated : 1 year, 11 months ago IST
Mumbai (Maharashtra) [India], April 22: Shivalic Power Control Limited, is an ISO-certified LT and HT electric control panel manufacturer with a rich operating history of 20 years, offers a diversified range of electric control panels, including PCC, IMCC, Smart, MCC, DG Synchronization, Out
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High-interest rates sacrifice growth: RBI monetary policy member Varma fav
Updated : 1 year, 11 months ago IST
Noting that that economic growth in 2024-25 is projected to slow by over half a percent relative to 2023-24, Varma said it was a reminder that high interest rates entail a growth sacrifice.
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Inflation remains main concern against rate cuts: RBI policy minutes
Updated : 1 year, 11 months ago IST
Inflation continues to remain the main concern for the Reserve Bank of India's monetary policy committee members before it goes ahead and loosens its stance on key interest rates.
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Food prices a challenge for final descent in inflation: RBI policy minutes
Updated : 1 year, 11 months ago IST
Pressure in food prices has been interrupting the ongoing disinflation process in India, and posing challenges for the final descent of inflation trajectory to the 4 per cent target, as per minutes of RBI's monetary policy meeting that was held earlier this month.
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India's forex exchange reserves decline after seven-week rise
Updated : 1 year, 11 months ago IST
As per the latest data released by the Reserve Bank of India (RBI), the country's foreign exchange kitty declined by USD 5.401 billion to USD 643.162 billion in the April 12 week
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RBI seeks comments on draft rules to regulate payment aggregators
Updated : 1 year, 11 months ago IST
Comments or feedback on the draft directions may be sent by email or by post to the Chief General Manager-in-Charge, Department of Payment and Settlement Systems, Reserve Bank of India, Central Office, 14th Floor, Shahid Bhagat Singh Marg, Mumbai-400001, on or before May 31, 2024.
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