Introduction: ADB’s Optimistic Outlook for India’s Economy The Asian Development Bank (ADB) has projected India’s Gross Domestic Product (GDP) to grow by 6.7% in the fiscal year 2025 (FY2025), as per its April 2025 Asian Development Outlook. This projection underscores India’s economic resilience amidst global uncertainties and highlights the country’s robust domestic demand and policy…
Introduction: RBI’s Decision on FPI Investment Limits In a recent announcement, the Reserve Bank of India (RBI) has decided to keep the investment limits for Foreign Portfolio Investors (FPIs) in government securities and corporate bonds unchanged for the financial year 2025-26. The decision reflects a cautious approach to managing capital inflows while ensuring financial stability…
RBI Data Reveals Credit Cards Breach 100 Million Mark in India In a significant milestone, data released by the Reserve Bank of India (RBI) has unveiled that the number of credit cards in circulation in India has surpassed the 100 million mark. This revelation underscores the burgeoning trend of digital transactions and the increasing reliance…
India’s Foreign Exchange Reserves Reach Record High India’s foreign exchange reserves have recently hit a record high, showcasing the resilience and strength of the nation’s economy. The Reserve Bank of India (RBI) reported that the country’s forex reserves surged to a remarkable $642.453 billion in the week ending March 25, 2024. This achievement marks a…
RBI Allows UPI Payments via Third-Party Apps for PPI Holders The Reserve Bank of India (RBI) has made a significant move by permitting Unified Payments Interface (UPI) payments via third-party applications for Prepaid Payment Instrument (PPI) holders. This initiative aims to enhance the ease of digital transactions and promote financial inclusion by expanding the scope…
Introduction Digital payments in India have witnessed rapid growth over the past few years, driven by the increasing adoption of online transactions, government initiatives, and technological advancements. In February 2025, key digital payment systems such as Unified Payments Interface (UPI), Immediate Payment Service (IMPS), FASTag, and Aadhaar Enabled Payment System (AEPS) continued to show significant…
The Reserve Bank of India (RBI) has announced a significant measure to address the prevailing liquidity crunch in the banking sector by initiating a $10 billion foreign exchange (forex) swap. This three-year swap auction is scheduled for February 28, 2025, and aims to infuse approximately ₹870 billion into the banking system. This move underscores the…
RBI Penalizes Three Financial Institutions for Non-Compliance The Reserve Bank of India (RBI) has imposed monetary penalties on Citibank N.A., Asirvad Micro Finance Ltd., and JM Financial Products Ltd. for failing to comply with regulatory guidelines. The central bank took action after identifying lapses in their operations, violating specific provisions of the Banking Regulation Act,…
The RBI Ombudsman and Its Role in Customer Grievances Introduction to the RBI Ombudsman System The Reserve Bank of India (RBI) Ombudsman is a key component of the financial system designed to resolve customer grievances related to banking services. Established as part of the broader consumer protection initiative, the Ombudsman acts as an intermediary to…
RBI Clears Kotak Mahindra Bank’s Digital Onboarding Ban – A Game-Changer for Banking Sector Introduction to the News The Reserve Bank of India (RBI) has officially lifted the ban on Kotak Mahindra Bank’s digital onboarding process. The ban was imposed in 2022 due to concerns over certain regulatory issues with the bank’s procedures for onboarding…
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