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 …
Latest Reserve Bank of India News & Updates
New Delhi, July 12 (IANS) India has received $7 billion from foreign institutional investors (FIIs) after the government announced measures last month to attract more foreign funds and steady the volatility in the rupee, according to an SBI Research report. The Indian rupee has appreciated around 2.2 per cent till the end of June, a low of Rs 96.8 vis-a-vis the US dollar on May 20, 2026.Last month, the government and the Reserve Bank of India introduced a set of measures aimed at boosting foreig…
New Delhi, July 11 (IANS) HDFC Bank has reaffirmed its commitment to the highest standards of corporate governance, saying an independent legal review found that the concerns raised by former chairman Atanu Chakraborty in his resignation letter were not substantiated by records reviewed and witness interviews, according to the bank’s annual report released on Saturday.In its FY26 annual report, interim part-time Chairman Keki M. Mistry assured shareholders that the country’s largest private sect…
New Delhi, July 11 (IANS) Overall deposits in India’s banking system jumped by around Rs 7 lakh crore for the fortnight ended June 30, 2026, marking the third‑highest fortnightly growth in 29 years, a new report has said.The report from State Bank of India (SBI) Research said the surge reflected buoyant capital flows aided by recent Reserve Bank of India and government measures.Further, commercial paper and bank credit have expanded indicating that economic activity has surprised on the upsi…
New Delhi, July 10 (IANS) Finance Minister Nirmala Sitharaman is scheduled to meet heads of public sector banks (PSBs) and financial institutions on Monday to review the progress of foreign currency deposit mobilisation and overseas borrowing initiatives aimed at strengthening external capital inflows, as per sources.The meeting comes after the Reserve Bank of India (RBI) last month announced a series of measures to encourage banks to mobilise foreign currency deposits from Non-Resident Indians …
Mumbai, July 10 (IANS) India’s foreign exchange reserves surged by $7.260 billion to $674.193 billion in the week ended July 3, reversing the decline recorded in the previous week, according to data released by the Reserve Bank of India (RBI) on Friday.The value of India’s gold reserves rose by $2.669 billion to $105.205 billion during the reporting week.The country’s holdings of Special Drawing Rights (SDRs) with the International Monetary Fund also increased by $65 million to $18.623 billion.T…
New Delhi, July 10 (IANS) The Central government has made it mandatory for all operating Central Public Sector Enterprises (CPSEs) to route settlement of invoices for goods and services procured from Micro, Small and Medium Enterprises (MSMEs) through TReDS platforms authorised by the Reserve Bank of India, an official statement said on Friday.The notification requires CPSEs to disclose details of MSME invoices routed and settled through TReDS as specified by the RBI and to obtain a statutory au…
United Nations, July 8 (IANS) Astutely navigating the shoals of global economic uncertainties, India is holding on to its crown as the world’s fastest-growing major economy with the International Monetary Fund (IMF) projecting it to grow at 7 per cent during the current calendar year.The World Economic Outlook (WEO) Update released on Wednesday projected India’s gross domestic product to moderate in the next calendar year to 6.4 per cent.The Indian economy’s projected performance is “suppo…
New Delhi, July 8 (IANS) India’s macro backdrop has improved as falling oil prices and a June foreign exchange package have eased financial conditions and prompted inflows, a report said on Wednesday.Foreign investors signalled growing confidence, with $6.4 billion of bond inflows since early June and equities flows turning slightly positive in the past fortnight, the report from HSBC Global Investment Research.The firm forecasted that a balance of payment surplus and improved sentiment could …
New Delhi, July 8 (IANS) Shares of private lender South Indian Bank tumbled nearly 10 per cent on Wednesday after the lender announced that it had received the Reserve Bank of India’s (RBI) approval for the appointment of Mahesh Muralidhar Pai as its Managing Director and Chief Executive Officer (MD & CEO).The private banking stock declined as much as 9.86 per cent to Rs 43.02 on the BSE. At around 12:05 pm, it was trading at Rs 44.23, down more than 7 per cent.In a regulatory filing, the pr…