by AIP Online Bureau | Nov 1, 2022 | Banking & Bancassurance, Eco/Invest/Demography, Indian News, Technology
The e-rupee will be tested for retail use within a month in some locations, the Reserve Bank of India said on Monday. The launch comes as India steps up its fight against private digital currencies. Officials announced a new tax regime this year that decimated volumes...
by AIP Online Bureau | Nov 1, 2022 | Banking & Bancassurance, Eco/Invest/Demography, Indian News, Regulation
Michael Debabrata Patra,Deputy Governor, Reserve Bank of India There is one commercial bank branch for every 9,000 citizens now from one branch for 40,000 citizens in 1972. Banks today operate around 2.25 lakh customer service points, including over 1.75 lakh ATMs. In...
by AIP Online Bureau | Oct 31, 2022 | Indian News, Regulation, Technology
Settlement in central bank money would reduce transaction costs by pre-empting the need for settlement guarantee infrastructure or for collateral to mitigate settlement risk Nine banks — State Bank of India (SBI), Bank of Baroda, Union Bank of India, HDFC Bank,...
by AIP Online Bureau | Oct 17, 2022 | Eco/Invest/Demography, Indian News, Life, Non-Life
With inflation remaining above the 6 per cent level, RBI, now, will have to give a report to the central government giving reasons for failure to contain inflation at 4 per cent with a bias of 2 per cent on either side Mumbai: The fight against inflation will be...
by AIP Online Bureau | Oct 17, 2022 | Banking & Bancassurance, Indian News, Regulation
Swamy has alleged that the involvement of RBI officials in scams involving various entities such as Kingfisher, Bank of Maharashtra and Yes Bank had not been probed New Delhi: The Supreme Court on Monday agreed to examine BJP leader Dr Subramanian Swamy’s plea...
