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A month after RBI had started a pilot in the digital rupee - wholesale segment, the central bank will launch the first pilot for retail digital rupee tomorrow
Banking

Reserve Bank of India to launch the first pilot of retail...

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RBI picks 8 banks, and 13 cities to test retail digital currency The Reserve Bank of India (RBI) will launch the first pilot for retail...
Centre makes changes to facilitate and ease international trade transactions in Indian Rupees
Banking

Centre amends Foreign Trade Policy; allows rupee settlement in export promotion...

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With the aim to boost trade, govt allows rupee settlement in export promotion schemes The Commerce Ministry said in a statement that the Central government...
‘Rural and Agricultural Farmers’ Co-operative Bank’ was active for nearly a year; it collected unauthorized deposits and advanced loans claiming to be an entity regulated by RBI
Banking

Tamil Nadu police bust fake bank operating in Chennai and 8...

PGurus Newsdesk - 1
How Tamil Nadu man starts own bank to con depositors After a complaint from the Reserve Bank of India (RBI), Chennai, the Central Crime Branch...
The lenders use the borrowers' confidential personal data like contacts, location, photos, and videos for blackmail and harassment
Law and Order

MHA seeks urgent action against predatory Chinese lending apps; writes to...

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MHA goes strict against Chinese lending apps, directs states, union territories to take action In a communication to all states and union territories, the Union...
Indian danks are discussing the currency pair for the payment mechanism and the options include the Indian rupee paired with the Russian ruble or Saudi Arabia's riyal
Banking

UCO Bank, YES Bank working with Russian banks on rupee trade...

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International trade in rupee: Two Indian banks drag feet on the mechanism As per a senior government official, Indian lenders UCO Bank and Yes Bank...
Dr. Swamy has alleged that the involvement of RBI officials in scams involving various entities such as Kingfisher, Bank of Maharashtra and Yes Bank had not been probed
Law and Order

Supreme Court seeks response from CBI, RBI on a plea by...

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Notice to RBI, CBI in the petition filed by Dr. Swamy in the 'bank loan fraud' case The Supreme Court on Monday issued notice to...
FM Nirmala Sitharaman announced in her budget speech in February that the RBI would come up with a CBDC during the current fiscal
Banking

RBI’s digital currency platform may help enforce black money regulations

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RBI to take a graded approach on CBDC, in line with monetary policy The proposed Central Bank Digital Currency (CBDC) platform is expected to generate...
The financial services arm of the Aditya Birla Group has expressed intent to pick up 51% stake of Reliance Capital in Reliance Nippon Life Insurance Company
Business

Aditya Birla Capital to buy 51% stake in debt-ridden Anil Ambani...

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Aditya Birla Capital joins the race to acquire life insurer Reliance Nippon Life Aditya Birla Capital Ltd has joined the race to pick up stake...
RBI has hiked the repo rate by 50 basis points to 5.90%, the fourth straight increase in the current cycle, to tame sustained above-target retail inflation rate
Economy

RBI hikes repo rate to subdue the inflation; pegs inflation at...

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RBI Governor Shaktikanta Das announces hike in repo rate by 50 basis points to subdue the inflation The Reserve Bank of India's Monetary Policy Committee...
The external environment remains challenging, with generally higher commodity prices vs. pre-pandemic
Economy

RBI likely to increase repo rate by 50 basis points in...

PGurus Newsdesk - 0
Morgan Stanley expects inflation to remain sticky around 7.1-7.4% in September Recent reports by Morgan Stanley state that the Monetary Policy Committee in the September...
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