Mumbai, July 17 (IANS) India’s foreign exchange reserves increased by $964 million to $675.16 billion for the week ended July 10, according to data released by the Reserve Bank of India (RBI) on Friday.The latest increase follows a sharp rise of $7.26 billion in the previous reporting week, when the country’s forex reserves had climbed to $674.19 billion after reversing the decline recorded earlier.According to the RBI, foreign currency assets (FCAs), the largest component of the country’s forex…
Latest RBI News & Updates
Mumbai, July 17 (IANS) RBI Governor Sanjay Malhotra said on Friday that India’s fundamentals remain strong, with a decent pace of economic expansion despite geopolitical uncertainties triggered by the West Asia crisis.In an exclusive interview to Doordarshan, the RBI governor also admitted that the ongoing geopolitical tensions in West Asia and a potentially weak monsoon pose key risks to India’s economy.Malhotra defended the performance of the rupee in the backdrop of a strengthening US dol…
New Delhi, July 16 (IANS) India’s ground level credit disbursed to the agriculture sector has surged to Rs 32.50 lakh crore for FY 2025-26 which marks a more than fourfold jump from Rs 8 lakh crore in FY 2014–15, according to an official factsheet released on Thursday.The rural credit ecosystem has expanded by a robust 13 per cent every year during FY2014-15 to FY2023-24. To enhance ground level credit (GLC) in agriculture, the National Bank for Agriculture and Rural Development (NABARD) pro…
Mumbai, July 16 (IANS) The domestic equity market outlook has improved as easing crude oil prices, resilient domestic consumption, and moderating earnings risks strengthen the investment case, with the benchmark Sensex likely to touch 84,000 by the end of 2026, according to a report.According to an analysis by HSBC brokerage, the macroeconomic backdrop for Indian equities has improved significantly in recent weeks as crude oil prices have retreated to pre-conflict levels faster than expected. Th…
New Delhi, July 15 (IANS) HDFC Bank on Wednesday announced that it has received approval from the Reserve Bank of India (RBI) to appoint former Finance Secretary and ex-Chief Election Commissioner Rajiv Kumar as its part-time chairman for a period of three years, effective July 15, 2026.The private sector lender said in a regulatory filing that the appointment has been approved by the RBI under Section 10B(1A)(i) of the Banking Regulation Act, 1949. The approval follows the bank’s application to…
Mumbai, July 14 (IANS) The Reserve Bank of India (RBI) on Tuesday held its half-yearly meetings with the Managing Directors and Chief Executive Officers of Public Sector Banks and select Private Sector Banks in Mumbai, with Governor Sanjay Malhotra calling on lenders to harness artificial intelligence (AI), strengthen cybersecurity and maintain a strong customer-centric approach.The meetings were chaired by the RBI Governor and attended by Deputy Governors Swaminathan J., Dr. Poonam Gupta, S. C….
Mumbai, July 13 (IANS) The Reserve Bank of India (RBI) on Monday asked banks to empower their Internal Ombudsmen (IO) mechanism to strengthen customer service and redress grievances speedily in order to avoid external escalation of cases.Addressing the third annual conference of Internal Ombudsmen (IO) of banks and NBFCs here, RBI Deputy Governor Swaminathan J. exhorted the internal ombudsmen to provide a meaningful, fair, and effective resolution of customer complaints.The Deputy Governor also …
New Delhi, July 13 (IANS) Economists on Monday said India’s headline CPI inflation at 4.38 per cent for June is in line with their forecast, adding that over the next two quarters, inflation is likely to remain range bound at 4-4.5 per cent, with food as the key swing factor amid uneven monsoon progress and El Nino-linked rainfall variability.The commodities that posted the highest inflation during the month were silver jewellery which saw a 133.21 per cent jump in prices and gold jewellery whic…
New Delhi, July 13 (IANS) The chiefs of public sector banks (PSBs) and financial institutions informed Finance Minister Nirmala Sitharaman on Monday that there was a strong response from NRIs to the higher interests rates and incentives that have been announced across foreign currency non-resident bank deposits FCNR (B) deposits, External Commercial Borrowings (ECBs) and Overseas Foreign Currency Borrowings (OFCBs) swap initiatives.The banks expect funds flowing in from NRIs to pick up further m…
New Delhi, July 13 (IANS) India’s retail inflation, based on the new Consumer Price Index (CPI) series, was recorded at 4.38 per cent in June this year compared to the same month of the previous year, according to data released by the Ministry of Statistics on Monday.The commodities that posted the highest inflation during the month were silver jewellery, which saw a 133.21 per cent jump in prices and gold jewellery, which clocked a 36.82 per cent increase in prices. Overall food inflation in Ju…