"In order to attract more capital inflows, RBI has decided to increase the interest rate ceilings on FCNR (B) deposits. Accordingly, with effect from today (December 6, 2024), banks are permitted to raise fresh FCNR(B) deposits of 1 year to less than 3 years maturity at rates not exc...
In December 2023, the percentage of term deposits with interest rates higher than 7% increased from 54.7% to 61.4% of all term deposits. About ₹201 lakh crore was the total amount of deposits held by SCBs as of December 29, 2023. Of this, 88% came from TDs, with the remaining 4% ...
While the contradictory information around the whitelist continues to grow, so does the problem of predatory loan apps, which are flourishing on app stores, targeting vulnerable borrowers, charging them exorbitant interest rates, and resorting to extortion and blackmail tactics to collect repayments. Ad...
The HFC Directions were updated to consolidate various circulars that have been issued since its last update on March 21, 2024. A significant change in this edition is the introduction of a new format for the Most Important Terms and Conditions (MITC) following the rollout of the Key Facts ...
"The MPC unanimously decided to keep rates unchanged in this meeting with readiness to act if the situation so warrants," Das said announcing the decisions of MPC. "The MPC will not hesitate to take further action as may be required in its future meetings." RBI has raised interest rate by...
MP Anil Yashwant Desai also asked the Ministry about vulgar content during the current parliamentary session. Desai asked the government about steps it has taken to curb “anti-Indian and anti-Indian family values” on social media. To this, the Ministryresponded, that inMarch 2024it blocked 18...
2024 10 best growth stocks to buy for 2025 as global growth slows, high-quality growth stocks may start disappearing. wayne duggan dec. 16, 2024 7 best russell 2000 etfs to buy lower inflation and falling interest rates are good news for these small-c...
The RBI acts as a regulator and supervisor of the overall financial system. This injects public confidence into the national financial system, protects interest rates, and provides positive banking alternatives to the public. Finally, the RBI acts as the issuer of national currency. For India, th...
The central bank has since lowered its projection for GDP growth for fiscal year 2025 ending in March to 6.6% from 7.2% in its recent monetary policy meeting. The incoming governor said little on India's growth-versus-inflation debate in his first public address. However, he underscored the ...
that. becoming sfbs will allow them to directly take deposits, which will bring down their cost of funds and translate into lower interest rates for clients. regional rural and urban cooperative banks ought to have performed this role, which they clearly haven’t — not least due to political...