RBI Report Highlights Major Digital Economy Concerns
Recently, the RBI released its Report on Currency and Finance (RCF), which highlights some of the major concerns in the Indian banking and financial sector. The report mentions that the financial sector in India has undergone some major changes in the last decade due to the mass adoption of technological advancements. This shift has negatively…
Himanshu
SBI’s New ‘Amrit Vrishti’ Plan: Is It A Risky Bet?
India’s largest bank, SBI, has launched one of its highest interest rates, bearing FD: Amrit Vishti. According to the bank, the FD will offer an interest rate of 7.25% on deposits for 444 days and is open for domestic and non-resident Indian customers. They added that the interest rate for senior citizens will increase by…
Rising External Debt, Falling Debt-to-GDP Ratio
In its latest report, the Reserve Bank of India has provided key insights into India’s economic indicators. The report highlights that India’s external debt has increased by $39.7 billion, reaching a total of $663.8 billion by the end of March 2024. These figures would have been slightly higher if the valuation effect had not been…
Shipra Prajapati
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…
Bhumika
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 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…
Chandan Kumar
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…
Yash Sharma
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
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
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…
