New Delhi, June 6 (IANS) The Reserve Bank of India (RBI) is examining a proposal to introduce polymer or plastic currency notes, although no final decision has been taken yet, Governor Sanjay Malhotra has said.Malhotra has said that the proposal remains under consideration and is still at a preliminary stage.He stated that as far as polymer notes are concerned, the proposal is under consideration, adding that as soon as any decision is taken on it, we will inform you.Malhotra acknowledged that r…
Latest Reserve Bank of India News & Updates
New Delhi, June 6 (IANS) India’s GDP growth is expected to moderate in FY 2027 at 6.6 per cent after a stronger‑than‑expected 7.7 per cent expansion in fiscal 2026, a report has said.The report from Crisil Ratings said that a sharp rise in crude prices, a below‑normal monsoon and higher inflation will weigh on consumption and growth.”Growth outperformed expectations in fiscal 2026 due to fiscal support to private consumption, rate cuts by the Reserve Bank of India, healthy global growth,…
New Delhi, June 6 (IANS) The latest measures by the government and the Reserve Bank of India (RBI) to boost rupee and foreign capital could improve the balance of payments (BoP) by more than $30 billion in the short run, by both narrowing the current account deficit (CAD) and raising capital inflows, according to HSBC.Ahead of the June policy meeting, markets were focused on two fronts: rupee support measures and the policy rate decision. “We think the RBI took a split approach, going ‘all i…
New Delhi, June 5 (IANS) India could return to a growth rate of over 7 per cent by FY28 if macroeconomic stability is maintained and supply-side reforms continue, Chief Economic Adviser V. Anantha Nageswaran said on Friday. His statement comes at a time when global uncertainties continue to cloud the near-term economic outlook.The remarks were made shortly after the Reserve Bank of India revised its GDP growth forecast for FY27 downward to 6.6 per cent, compared to 6.9 per cent projected in Apri…
New Delhi, June 5 (IANS) Industry chamber ASSOCHAM on Friday praised Reserve Bank of India’s decision repo rate pause as steps to support trade and industry, as stable rate shields growth from supply‑side shocks.Nirmal Kumar Minda, President, ASSOCHAM said stable interest rates “will support demand and potentially benefit investments, consumption, employment, and overall economic growth.”The “well-calibrated measures by the RBI will create a promising approach to growth and to control inflat…
Mumbai, June 5 (IANS) India’s foreign exchange reserves rose by $938 million to $682.321 billion in the week ended May 28, reversing the decline recorded in the previous week, according to data released by the Reserve Bank of India (RBI) on Friday.The country’s forex reserves had fallen by $7.511 billion to $681.384 billion in the preceding reporting week.Despite the recent volatility, India’s reserves remain among the highest globally, although they are below the record high of $728.494 billion…
Mumbai, June 5 (IANS) The Reserve Bank of India (RBI) on Friday imposed a penalty of Rs 41.80 lakh on Canara Bank for not complying with certain provisions of directions issued by the central bank on ‘Know Your Customer (KYC)’ and ‘Unclaimed Deposits and Inoperative Accounts in banks’.An inspection of Canara Bank carried out by the RBI revealed that the bank did not upload KYC records of certain customers onto the Central KYC Records Registry (CKYCR) within the prescribed timeline. Canara Bank a…
Mumbai, June 5 (IANS) Indian equity markets ended lower on Friday as investors reacted to the Monetary Policy Committee (MPC) decision and continued to assess global economic uncertainties.The benchmark indices closed lower, with the Nifty declining 49.85 points, or 0.21 per cent, to settle at 23,366.70. The Sensex also slipped 116.67 points, or 0.16 per cent, to close at 74,243.34.Commenting on Nifty technical outlook, experts said that the 23,450–23,550 region continues to serve as a key imm…
New Delhi, June 5 (IANS) The Reserve Bank of India’s (RBI) decision to keep policy repo rate unchanged focuses on preserving financial stability and will keep growth prospects intact in the long term, economists and industry leaders said on Friday.Dr Ranjeet Mehta, CEO and Secretary General, PHDCCI, said the policy decision reflects a balanced view of upside risks facing the economy. While external uncertainties have increased, RBI’s move created a conducive environment to keep medium to long …
New Delhi, June 5 (IANS) The Indian rupee appreciated sharply against the US dollar on Friday after the Reserve Bank of India eased investment norms for foreign portfolio investors (FPIs) and announced measures aimed at improving capital flows, boosting investor sentiment.The domestic currency strengthened by 50 paise to 95.24 against the US dollar in intraday trade after opening at 95.72 in the interbank foreign exchange market. The currency had settled at 95.74 against the dollar in the previo…