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The Latest Breaking News from RBI

RBI hikes UPI transaction limit for hospitals and educational institutions

The Reserve Bank of India raised the UPI payment limits for hospitals and educational institutions from ₹1 lakh to ₹5 lakh per transaction, said Governor Shaktikanta Das on December 8.

The Hindu

RBI maintains status quo in policy rate for 5th time now

The Monetary Policy Committee of the Reserve Bank of India (RBI) in its December review meeting unanimously decided to keep the policy repo rate unchanged at 6.5 per cent, thus maintaining status quo for the fifth straight time.

Dynamite News

Banks that funded coal plants need an escape plan | Data

Most loans to coal-fired plants were given by public sector banks of corporations

The Hindu

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Morning Digest | Exit polls show Congress win in Telangana, Chhattisgarh, but differ over M.P., Rajasthan; GDP surges 7.6% in Q2, goes past RBI forecast; and more

The Hindu Morning Digest gives a select list of stories to start the day. Read the top news today on November 26, 2023

The Hindu

GDP surges 7.6% in Q2, goes past RBI forecast

India's Q2 GDP grew 7.6%, higher than expected, driven by govt spends & manufacturing. GVA growth eased to 7.4%, but farm sector skidded to 1.2%. Construction & manufacturing led with 10.5% & 9.3% growth respectively. PFCE growth halved to 3.1%. RBI & govt expect 6.5% growth this year.

The Hindu

Ernakulam consumer rights panel asks bank to refund amount withdrawn beyond credit card holder’s remaining balance limit

Ernakulam District Consumer Disputes Redressal Commission orders nationalised bank to refund ₹39,507 to credit card holder and pay ₹35,000 compensation for unauthorised withdrawal. Commission cites Kerala High Court ruling that bank cannot deny liability despite RBI's limited liability circular. Bank should not have approved transaction exceeding established limit, highlighting flaw…

The Hindu

Banks cautioned against loan recovery from farmers

Banks in Mysuru district were instructed to desist from loan recovery from farmers given the prevailing drought in the region.

The Hindu

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What is RBI’s latest move to increase risk weight for lending about? | Explained

The RBI recently issued regulatory measures to banks and NBFCs to increase risk weights associated with consumer credit and bank credit by an additional 25 percentage points. We examine the rationale behind the move and its potential impact.

The Hindu

Former RBI Governor S Venkitaramanan passes away

Former Governor of the Reserve Bank of India S Venkitaramanan passed away here on Saturday, due to brief illness. Read further on Dynamite News:

Dynamite News

Former RBI Governor S. Venkitaramanan passes away at 92

Former Governor of the Reserve Bank of India S. Venkitaramanan, passed away on November 18 in Chennai at 92-years-old

The Hindu

RBI clears resolution plan for debt-ridden Reliance Capital

The Reserve Bank of India (RBI) on November 29, 2021, superseded the board of Reliance Capital in view of payment defaults and serious governance issues.

The Hindu

Efforts to destabilise Kerala’s economic foundation by targeting cooperative sector, says Chief Minister Pinarayi Vijayan

Kerala chief minister pinarayi Vijayan warns of attempts to destabilise Kerala's economic foundation by targeting its cooperative sector. He blames Central Govt & RBI for diverting investments towards corporate capital & recent financial irregularities. He stresses importance of distinguishing isolated cases from widespread corruption & vows to take strict action…

The Hindu

Rise in fake currency, cash in circulation: 7 years of demonetisation

On November 8, 2016, the Narendra Modi government had attempted a surgical strike against “black money”, “counterfeit currency”, and “corruption” by banning banknotes of higher denominations, which was 86 percent of the currency in circulation then.

Newslaundry

Rythu Bandhu next phase only after elections, election authority receives no request for releasing it

In Telangana, the Rythu Bandhu farmers investment support scheme's 2nd phase likely to be implemented by new govt. Election authority yet to receive any request from govt. to advance scheme. CM charged Congress for creating obstacles, which they refuted. New govt. faces challenge to implement scheme due to financial constraints.…

The Hindu

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The Hindu

RBI wins businessline Changemaker of the Year award; Amul is crowned Iconic Changemaker

In a glittering ceremony that featured humour-packed moments, a virtuoso violin recital, and a scintillating hula hoop dance performance, Power Minister R.K. Singh presented businessline’s Changemaker of the Year award to the Reserve Bank of India for steering the country through the turbulent period of the pandemic. The ‘utterly butterly’…

The Hindu

The legality of the electoral bonds scheme | Explained

With the Supreme Court set to hear final arguments on October 31, The Hindu looks at the contentious issues surrounding the legality of the scheme

The Hindu

Renewed risks: On the RBI and how global uncertainties have compounded

India’s macro fundamentals may well hold up through the latest global storm

The Hindu

Crushed by inflation, populace using loans to make ends meet: Congress

The October bulletin ‘shows extremely concerning economic trends’ as inflationary trends have remained above the RBI’s threshold level of 4%.

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The Hindu

PPF returns 41 bps behind formula rates

PPF and recurring deposits are still out of sync with a formula-based rates regime for small savings schemes adopted in 2016.

The Hindu

TDB to deposit 500 kg of gold in RBI for an annual interest of ₹6 crore

TDB to deposit 500kg gold in RBI for 5yrs; earn ₹6cr/yr. SBI Mumbai to assist. Gold to be smelted into biscuit form. Antique gold, artefacts, utensils to be catalogued, sorted. Fast-tag system for Sabarimala parking fees. Thirupathi model queue system for crowd control. No cardamom in Aravana Payasam. 6 lakh…

The Hindu

Fear factor: On the inflation battle

Inflation faced by consumers eased to 5% in September, but the preferred inflation rate remains 4%

The Hindu

Festive cheer: Urban consumer confidence at seven-year peak | Data

Urban consumers enter 2023 festival season w/ more confidence than 7 years ago. RBI's Consumer Confidence Survey finds 36% of respondents say general economic situation improved, 25% say income improved, & 91% say price levels of commodities increased. FEI hit highest level in 4 years.

The Hindu

All of Google’s eyes, now on Madras High Court

Al Jazeera

India’s Bank of Baroda expose worsens: Agents steal money from accounts

RBI has banned BoB from onboarding new customers on its app after an expose by The Reporters’ Collective-Al Jazeera.

The Hindu

Tightrope walk: On RBI holding rates

RBI’s Monetary Policy Committee decision to leave interest rates unchanged even as the central bank warned of the major risk that ‘high inflation’ poses to macroeconomic stability is a clear sign that monetary authorities find themselves caught in a cleft stick.

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