Forex Reserves Drop to 11-Week Low
India’s foreign exchange capital dropped for the third straight week to smash an eleven-week low of $561.27 billion for the week ended February 17, the...
Tag : Reserve Bank of India (RBI)
Yes Bank Launches Floating Rate Fixed Deposit Scheme
The Mumbai-based private bank said on February 23 that Yes Bank had launched a floating-rate fixed deposit scheme for domestic customers with a tenor of...
SBI to Launch UPI-Based Real-Time Cross-Border Remittance Service
On February 22, the State Bank of India (SBI) said it would allow real-time foreign inward and outward remittance services through the Unified Payments Interface...
Indians Spend $1 Billion monthly on Foreign Travel: RBI
Indians spend nearly $1 billion monthly on foreign travel, which is knowingly more than the pre-Covid stages, discloses Reserve Bank of India (RBI) data on...
Draft Norms on Lending of Government Securities Released
According to a press release on Friday, the Reserve Bank of India (RBI) has released draft guidelines on government securities lending. In its latest monetary...
SBI Loans to be Costlier as Bank Hikes Key Lending Rate
State Bank of India (SBI) has announced a 10 basis point (bps) hike in the marginal cost of fund-based lending rate (MCLR) across the tenor....
PhonePe Raises Another $100 Million from Tiger Global, Others at $12 Billion Valuation
Digital payments and financial services unicorn PhonePe has raised $100 million from Tiger Global, Ribbit Capital and TVS Capital as part of its larger ongoing...
India to Open UPI Payments for Foreign Tourists, Starting at Airports for Tourists from G20 Countries
The Reserve Bank of India (RBI) has proposed allowing foreign tourists to make merchant payments through the United Payments Interface (UPI) while in India. The...
Reliance Retail Partners with Banks to Accept Digital Rupee
The digital rupee was first launched by the Reserve Bank of India (RBI) on December 1, 2022, on a pilot basis in retail markets in...
RBI Sets 7.26% Coupon Rate for New 10-Year Benchmark Government Bond
The Reserve Bank of India (RBI) set a coupon rate of 7.26% on new 10-year benchmark government bonds due in 2033 on February 3, raising...