The Reserve Bank of India (RBI) and the Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) on Thursday for establishing a framework to promote the use of local currencies -- the Indian Rupee (INR) and the Indonesian Rupiah (IDR) for cross-border transactions.
The share of UPI in digital payments in India has reached close to 80 per cent in 2023, informed Reserve Bank of India (RBI) Shaktikanta Das on Monday, as he outlined the growth of payments ecosystem in the country.
Union Minister of Finance and Corporate Affairs Nirmala Sitharaman addressed a meeting of the Central Board of Directors of the Reserve Bank of India (RBI) on Monday and discussed the thrust areas of the Union Budget.
Governor Das stated, "If you examine our track record over the past several years, the RBI has played a significant role in the widespread adoption of UPI. We have also introduced a regulatory sandbox, allowing for the trial of new and innovative ideas, technologies, or fintech applicatio
The RBI which has received several queries and clarifications on the issue of Paytm Payments Banks reiterated that it will issue a list of FAQs soon on this issue.
Reserve Bank of India Governor Shaktikanta Das said on Thursday that all its actions, including certain restrictions it imposed on Paytm's associate bank, are in the best interest of the public.
The Reserve Bank of India (RBI), while maintaining the status quo in the repo rate, pegged India's GDP growth for the next financial year 2024-25 (April-March) at 7 per cent.
The Monetary Policy Committee of the Reserve Bank of India (RBI) in its February review meeting unanimously decided to keep the policy repo rate unchanged at 6.5 per cent, thus maintaining status quo for the sixth straight time.
The Monetary Policy Committee of the Reserve Bank of India (RBI) in its February review meeting is expected to again put a pause on the repo rate, according to SBI Research.
Reserve Bank of India (RBI) Governor Shaktikanta Das feels digital currency or Central Bank Digital Currency (CBDC) will make cross-border payments more efficient and fast, in addition to being cost-effective.