India's foreign exchange reserves

India’s Foreign Exchange Reserves Surge by $2.56 Billion to $644.15 Billion

India’s Foreign Exchange Reserves Surge by $2.56 Billion to Reach $644.15 Billion Significant Increase in Reserves India’s foreign exchange reserves saw a substantial increase of $2.56 billion, reaching $644.15 billion for the week ending May 10, 2024. This surge comes after a previous increase of $3.668 billion, marking a positive trend following three consecutive weeks…

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R. Lakshmi Kanth Rao RBI

RBI Appoints R. Lakshmi Kanth Rao as Executive Director: Significance and Key Takeaways

RBI Appoints R. Lakshmi Kanth Rao as Executive Director The Reserve Bank of India (RBI) has recently announced the appointment of R. Lakshmi Kanth Rao as its new Executive Director. This move comes amidst a crucial phase for the central bank, as it navigates through various economic challenges and policy decisions. R. Lakshmi Kanth Rao…

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Bank of Baroda World Mobile App

RBI Lifts Restrictions on Bank of Baroda’s World Mobile App: Promoting Digital Banking Solutions

RBI Lifts Restrictions on Bank of Baroda’s (BoB) World Mobile App The Reserve Bank of India (RBI) has recently lifted the restrictions imposed on Bank of Baroda’s (BoB) World Mobile App. This decision comes after the bank complied with the regulatory norms and rectified the issues pointed out by the central bank. The lifting of…

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Revenue-Based Financing

GetVantage Secures NBFC License from RBI: Empowering Entrepreneurs with Revenue-Based Financing

GetVantage Secures NBFC License from RBI: Pioneering RBF Start-up Introduction: In a significant development, GetVantage, a pioneering Revenue-Based Financing (RBF) start-up, has successfully secured a Non-Banking Financial Company (NBFC) license from the Reserve Bank of India (RBI). This milestone marks a pivotal moment in the realm of alternative financing in India, opening new avenues for…

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RBI margin funding limits

RBI Lowers Margin Funding Limits to 30% from 50%: Implications for Financial Markets

RBI Lowers Margin Funding Limits to 30% from 50% The Reserve Bank of India (RBI) has recently announced a significant change in margin funding limits, reducing it from 50% to 30%. This alteration is expected to have far-reaching implications on various sectors, particularly in the financial markets. Here’s a comprehensive overview of the development: Introduction…

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RBI approval REC subsidiary

RBI Approves REC to Establish Subsidiary in GIFT City: Boosting Infrastructure Financing

RBI Approves REC to Establish Subsidiary in GIFT City The Reserve Bank of India (RBI) has recently granted approval to Rural Electrification Corporation (REC) to establish a subsidiary in the Gujarat International Finance Tec-City (GIFT City). This move comes as a significant development in the financial sector, particularly in the realm of infrastructure financing. Why…

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Atanu Chakraborty HDFC Bank

RBI Approval: Atanu Chakraborty Re-appointed as HDFC Bank Part-time Chairman

RBI Approves Re-appointment of Atanu Chakraborty as HDFC Bank Part-time Chairman The Reserve Bank of India (RBI) has recently given its nod for the re-appointment of Atanu Chakraborty as the part-time chairman of HDFC Bank. This decision comes amidst a pivotal time in the banking sector, where stability and strategic leadership are paramount. Chakraborty, a…

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RBI license cancellation news

RBI Cancels AceMoney India NBFC License: Impact on Financial Sector and Consumer Protection

RBI Cancels AceMoney India NBFC License for Irregular Lending Practices The Reserve Bank of India (RBI) has taken stringent action against AceMoney India, a Non-Banking Financial Company (NBFC), by revoking its license due to irregular lending practices. The move comes in response to AceMoney India’s failure to comply with regulatory guidelines and norms set by…

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RBI Guidelines Universal Banks

RBI Guidelines for Voluntary Transition of Small Finance Banks to Universal Banks: Key Insights

RBI’s Guidelines for Voluntary Transition of Small Finance Banks to Universal Banks The Reserve Bank of India (RBI) recently released guidelines regarding the voluntary transition of small finance banks to universal banks. These guidelines come as a significant development in the banking sector and have implications for various stakeholders. Introduction to the Guidelines The RBI’s…

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IndusInd Bank RBI collaboration

Revolutionizing Agricultural Finance: IndusInd Bank’s Pilot Program with RBI’s Programmable CBDC

IndusInd Bank’s Pilot Program with RBI’s Programmable CBDC: Revolutionizing Agricultural Finance IndusInd Bank has embarked on a groundbreaking initiative in collaboration with the Reserve Bank of India (RBI) by launching a pilot program utilizing the central bank’s Programmable Central Bank Digital Currency (CBDC). This innovative endeavor seeks to transform the landscape of agricultural finance, offering…

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