The Indian government has given its approval to the Reserve Bank of India’s (RBI) plan to test polymer notes with denominations of ₹10 and ₹20, according to Monday’s statement from the Finance Ministry to Parliament. Pankaj Chaudhary, India’s Minister of State for Finance, informed the Lok Sabha in a written response that the country’s central […]
The Reserve Bank of India (RBI) has given the green light for state-owned lender Bank of Baroda (BoB) to form a wholly-owned subsidiary and engage in Standalone Primary Dealer (SPD) operations, the bank said Thursday to stock exchanges. According to the information provided by the regulatory body, the proposed subsidiary will get funding of up […]
To support the “sunrise sectors” vital to India’s economic growth, the State Bank of India (SBI) established the “CHAKRA” Centre of Excellence. Energy from renewable sources, advanced cell chemistry, electric mobility, green hydrogen, semiconductors, smart infrastructure, data centres, and decarbonisation will be the eight main areas of emphasis at the centre. More than Rs 100 […]
India’s Economic Survey 2025-26 commends the Reserve Bank of India’s (RBI) monetary policy under global uncertainty, stressing robust performance in the monetary and financial sectors during FY26. In order to lessen the impact of global financial shocks, it highlights the necessity of creative domestic financing channels. Effective money and credit market operation is said to […]
India is working to expand the global reach of its homegrown digital payment system, Unified Payments Interface (UPI), to more countries, with a special focus on East Asia, Financial Services Secretary M Nagaraju said on Tuesday. Speaking at the Global Inclusive Finance India Summit here, Nagaraju said UPI has played a key role in driving […]
The Reserve Bank of India’s Monetary Policy Committee (MPC) on Friday sharply lowered its inflation forecast for 2025–26 to 2%, revising it downward from the earlier estimate of 2.6%. The RBI said the drop reflects an unexpected and steep fall in food prices, along with the impact of recent GST rate cuts. RBI Governor Sanjay Malhotra noted that […]
RBI Governor Sanjay Malhotra indicated the potential for a repo rate cut during the upcoming December monetary policy review, citing favorable macroeconomic indicators and declining inflation. In an interview, he confirmed that the Monetary Policy Committee (MPC) had previously acknowledged the possibility of a rate cut, with recent data not diminishing this prospect. He emphasized […]
The Finance Ministry is set to hold a review meeting with public sector banks to assess the impact of the US 50% tariff hike on the micro, small, and medium enterprises (MSME) sector and assess their credit requirements. The meeting, chaired by Department of Financial Services Secretary M Nagaraju, aims to understand how external trade […]
RBI 50 basis points cut in the repo rate from 6 per cent to 5.5 per cent RBI Governor Sanjay Malhotra on Friday announced a jumbo 50 basis points cut in the repo rate from 6 per cent to 5.5 per cent to spur growth in the economy, as inflation has come down below the […]
