RBI

Sachs Predicts India’s GDP Growth To Soar At 6.7%

Sachs Predicts India’s GDP Growth To Soar At 6.7%

The renowned US-based financial institution Goldman Sachs, known to be a global investment bank, has revised its GDP forecast for India by 10 basis points to 6.7% for 2024. This revision is based on sustained growth momentum and the expectation of extra fiscal space due to a dividend transfer from RBI to the government.  The…

RBI To Retain Repo As Inflation Remains In Check

RBI To Retain Repo As Inflation Remains In Check

The Reserve Bank of India is all set to retain 6.5% short-term interest rates in its monetary policy review as inflation remains in its comfort zone and the economy’s growth rate increases steadily. The Governor of RBI, Shaktikanta will lead the 3-day deliberation of MPC from 6 to 8 December and can make the said…

The New CEO Of Kotak Mahindra Bank To Replace Uday Kotak

The New CEO Of Kotak Mahindra Bank To Replace Uday Kotak

The Succession of Kotak Mahindra Bank has been a hot topic for a long time now, but now it has been put to rest. The Reserve Bank Of India has appointed Ashok Vaswani as the new CEO of Kotak Mahindra Bank, replacing the billionaire founder Uday Kotak. Vaswani, the former Chief Digital Officer at Barclays…

RBI Begins Quarterly MPC Meeting- Repo Rate To Remain Same

RBI Begins Quarterly MPC Meeting- Repo Rate To Remain Same

The Monetary Policy Committee or MPC is a committee within the Reserve Bank Of India that is responsible for fixing the benchmark interest rates in India. To do this, the MPC meets at least once every quarter and this quarter MPC meeting has started with the sole aim of tackling the issue of high inflation…

Global Slowdown Signals India’s Growth Dip – Says Jahangir Aziz

Global Slowdown Signals India’s Growth Dip – Says Jahangir Aziz

According to Jahangir Aziz, head of emerging market economics at JP Morgan, the Indian economy may experience a slowdown in the second half of the year due to a global economic slowdown. However, he believes that this particular slowdown is essential to maintain financial stability and macroeconomics. He mentioned in an interview with the Economic…

RIL Receives RBI Approval to Retain Extra $2 Billion from Lenders

RIL Receives RBI Approval to Retain Extra $2 Billion from Lenders

Reliance Industries Limited, India’s largest conglomerate, has been granted approval by the RBI to retain an additional $2 billion from its lenders. This move by the RBI comes as a significant boost to RIL’s financial flexibility and underscores the company’s strong position in the Indian market. The approval allows RIL to retain the surplus funds…

India’s Digital Revolution: RBI Aims For 1M CBDC Users

India’s Digital Revolution: RBI Aims For 1M CBDC Users

In a bold move towards advancing India’s digital transformation, the Reserve Bank of India (RBI) is setting its sights on reaching one million Central Bank Digital Currency (CBDC) users by the end of this month. The Deputy Governor of RBI, alongside other key officials, announced this ambitious target as part of their commitment to fostering…

Withdrawal Of Highest Currency Note: Know The Impacts

Withdrawal Of Highest Currency Note: Know The Impacts

The Reserve Bank of India (RBI) on Friday, May 19, declared that the ₹2000 note will be withdrawn from circulation but will continue to be legal tender. However, this is not a demonetisation exercise; instead, it will remain legal tender, and the people can deposit or exchange their ₹2000 notes until September 30, 2023.  It…

RBI May Cut Dividend To Govt. Due To High-Interest Cost

RBI May Cut Dividend To Govt. Due To High-Interest Cost

Rbi Records The Lowest Surplus Transfer To The Government Of Rs.30,307 Crore In FY2022 As Compared To FY2021- The Indian Express The Reserve Bank Of India (RBI) is planning to cut the dividend to government due to the high-interest cost. During FY2022, RBI transferred the lowest surplus funds of Rs 30,307 crore to the government…

YES Bank Re-enters The Top 100 Most Valued Firms List

YES Bank Re-enters The Top 100 Most Valued Firms List

YES Bank re-entered the top 100 most valued companies list in terms of market capitalisation (market-cap). It is because the stock of private sector lenders zoomed 30% in the past three days after the Reserve Bank of India (RBI) agreed to raise capital from funds affiliated with global private equity investors Carlyle and Advent International. …