RBI Expands Gold Hedging Options for Residents Amidst Price Surge The Reserve Bank of India (RBI) has recently announced an expansion in gold hedging options for residents amidst a significant surge in gold prices. This move comes as a response to the growing demand for hedging mechanisms among residents to mitigate risks associated with gold…
NeoBank Revolut India Receives In-Principle Approval for PPI License from RBI The Reserve Bank of India (RBI) has granted an in-principle approval to NeoBank Revolut India for a Prepaid Payment Instrument (PPI) license. This move marks a significant development in the fintech sector in India. NeoBank Revolut, known for its digital banking services, has been…
RBI Projects CPI Inflation at 4.5% for FY25 The Reserve Bank of India (RBI) has recently projected the Consumer Price Index (CPI) inflation to be at 4.5% for the fiscal year 2024-25 (FY25). This projection comes amidst the backdrop of various economic factors influencing inflation rates. The RBI’s forecast holds significance for government exam aspirants,…
Rakesh Mohan Appointed to World Bank Economic Advisory Panel In a recent development, Rakesh Mohan, an eminent economist and former Deputy Governor of the Reserve Bank of India (RBI), has been appointed to the Economic Advisory Panel of the World Bank. This appointment comes as a recognition of Mohan’s vast experience and expertise in the…
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…
PM Modi’s Address on RBI’s 90th Foundation Day Prime Minister Narendra Modi addressed the Reserve Bank of India (RBI) on its 90th Foundation Day, highlighting the pivotal role of the central bank in India’s economic landscape. His speech underscored the importance of financial stability, innovation, and inclusivity in the banking sector. In his address, PM…
Indian Government’s Stake Sale in State-Run Companies Falls Short in 2023-24 In the fiscal year 2023-24, the Indian government’s efforts to sell stakes in state-run companies have fallen short of expectations, raising concerns about meeting disinvestment targets. Despite ambitious plans, the government struggled to attract investors, leading to a shortfall in revenue from divestment initiatives….
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 Imposes Monetary Penalties on 5 Co-operative Banks In a recent development, the Reserve Bank of India (RBI) has imposed monetary penalties on five co-operative banks for various violations. This action comes as part of the central bank’s efforts to ensure compliance and maintain the stability of the banking sector. Penalties Imposed: Response from RBI:…
SP Global Ratings Forecasts 75 Basis Points Repo Rate Cut in India in 2024-25 In a recent forecast by SP Global Ratings, a significant monetary policy move is anticipated for India in the fiscal year 2024-25. The forecast suggests a substantial reduction of 75 basis points in the repo rate, a key monetary policy tool…
