New Delhi, June 3 (IANS) The government on Wednesday dismissed claims that the Reserve Bank of India (RBI) sold gold worth around $12 billion, calling a media report fake.In a post on X, the Press Information Bureau (PIB) Fact Check unit rejected claims that the RBI had offloaded a significant portion of its gold reserves, citing official data released by the central bank.“According to RBI, the share of gold in India’s foreign exchange reserves rose from 13.92 per cent at the end of Septembe…
Latest Reserve Bank of India News & Updates
New Delhi, June 3 (IANS) The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) begins its three-day policy meeting on Wednesday, with experts widely expecting the central bank to maintain status quo on interest rates amid volatile global conditions, driven by ongoing tensions in West Asia. The policy decision will be announced on Friday by Governor Sanjay Malhotra.The June review comes amid sustained geopolitical tensions and volatile global crude and gas prices, which have complic…
Mumbai, June 2 (IANS) The approval of the Rs 36,585 crore Punyashlok Ahilyadevi Holkar Farmers’ Loan Waiver Scheme has sparked critical debate over its dual impact on Maharashtra’s economic health and banking infrastructure. The scheme bridges urgent short-term relief for the rural population with complex structural challenges for the state’s economy.The immediate fiscal challenge lies in absorbing a massive Rs 36,585 crore cash outflow without violating statutory fiscal discipline.Accordi…
New Delhi, June 2 (IANS) NPCI International Payments Limited (NIPL) — the international arm of the National Payments Corporation of India (NPCI) — in partnership with ACLEDA Bank Plc., on Tuesday launched Unified Payments Interface (UPI) acceptance in Cambodia through KHQR, the country’s national QR code system.The launch was marked by a formal ceremony in Phnom Penh attended by H.E. Dr. Chea Serey, Governor of the National Bank of Cambodia (NBC), along with representatives from the Reserve …
New Delhi, June 2 (IANS) The Reserve Bank of India is expected to keep policy rates unchanged in the upcoming Monetary Policy Committee meeting, although its communication may turn more hawkish as rising oil prices and a weaker rupee complicate the inflation outlook, according to an economist at HSBC.Pranjul Bhandari, HSBC’s chief India economist and macro strategist, projects a gradual tightening with about two rate hikes beginning in the fourth quarter of 2026 rather than an aggressive tight…
New Delhi, June 1 (IANS) The Reserve Bank of India’s Monetary Policy Committee is likely to maintain a wait‑and‑watch stance at its June meeting and hold rates unchanged amid rising inflationary pressures and external volatility, a report said on Monday.The report from CareEdge Ratings said inflationary concerns have intensified due to projected below‑normal monsoon and recent retail fuel price hikes.A sharp rise in WPI inflation also raises the risk of a faster second-round pass-through…
Gandhinagar, June 1 (IANS) A coordinated statewide crackdown on cyber-enabled financial crime in Gujarat has led to the exposure of Rs 2,289 crore in fraud linked to mule bank accounts, alongside hundreds of arrests and large-scale enforcement action across multiple agencies.The operation, from December 1 to December 31, 2025, named ‘Operation Mule Hunt 1.0’, was conducted by the Cyber Centre of Excellence of the Gujarat Police with the involvement of police units across districts, including loc…
New Delhi, June 1 (IANS) The Reserve Bank of India’s Monetary Policy Committee (MPC) is expected to keep interest rates on hold on June 5, as a sharp correction in Brent crude prices has eased concerns around inflation, a report said on Monday.The report from Emkay Global Financial Services noted that a significant improvement in India’s outlook for the external account over the past two weeks due to 22 per cent correction in Brent on hopes of a US‑Iran memorandum of understanding.”We expe…
New Delhi, June 1 (IANS) Several financial changes affecting consumers and businesses have come into effect from June 1, ranging from security measures for Unified Payments Interface (UPI) transactions and changes in ATM withdrawal rules to tax-related deadlines and higher commercial LPG prices.One of the key changes relates to UPI payments, where additional security measures are expected to be introduced for high-value transactions. Under the new framework, larger transactions may require extra…
New Delhi, May 31 (IANS) The Reserve Bank of India (RBI) is widely expected to keep its benchmark policy rate unchanged at 5.25 per cent when the Monetary Policy Committee (MPC) concludes its three-day meeting on June 5, as policymakers weigh mounting global uncertainties and their potential impact on inflation and economic growth.Market participants and economists anticipate that the central bank will maintain its cautious stance, choosing to closely monitor evolving developments in West Asia a…