India’s central bank, theReserve Bank of India(RBI), has joinedProject Nexus, an initiative to develop an instant cross‑border payment system between four countries in theASEAN, according to a 30 June 2024 statement. The initiative was founded by Malaysia, Philippines, Singapore and Thailand,...
TheReserve Bank of India (RBI)has announced new rules allowing foreign portfolio investments (FPIs) to be reclassified as foreign direct investments (FDIs) if they exceed the permitted 10% equity threshold in a local company. The notification, issued on 11 November 2024, outlines a streamlined ...
On 11 July 2022,The Reserve Bank of India(RBI) announced inRBI/2022-2023/90 A.P. (DIR Series) Circular No.10that Indian rupees can now be used for international trade settlements. Import and export transactions were previously in foreign currency, except for transactions with Nepal and Bhutan...
The Reserve Bank of India (RBI) is the central bank of India. It supports and directs monetary policy, issues and manages currency, acts as a bank to banks and the government, controls credit and manages the foreign exchange market (as well as tweaking rates from time to time). The RBI...
Setting up a cloud service built in partnership with local IT firms is a further step in the central bank's push for localization of payments and financial data. The RBI has invited only companies incorporated in India with prior experience of building cloud-related solutions to bid for the pr...
NEW DELHI, Dec. 7 (Xinhua) -- India's central banking institution Reserve Bank of India (RBI) said round-the-clock transactions will be available under the National Electronic Funds Transfer (NEFT) system from Dec. 16 to promote digital transactions, officials said Saturday. ...
NEW DELHI, June 8 (Xinhua) -- India's central bank, the Reserve Bank of India (RBI), on Wednesday raised the Repo Rate by 50 basis points to 4.90. This would lead to various types of loans getting dearer in the country. The repo rate is the rate at which the central bank of a ...
After IOB, RBI may pull up Allahabad Bank, Central Bank of India and Andhra Bank.The article reports that Reserve Bank of India may impose Prompt Corrective Action (PCA) on banks such as Allahabad Bank and Central Bank of India due to loan losses....
The Reserve Bank of India (RBI) has reportedly started a trial of providing unsecured loans to gig workers under its Innovation Hub.
ECONOMYNEXT – Sri Lanka’s central bank has repaid 450 million dollars to the Reserve Bank of India in the first six months of 2024, official data show. The central bank owed the RBI, 2001.43 million dollars by June 2024. When the numbers were first disclosed in 2023 third quarter the...