RBI News

Beware! RBI cautions public against KYC frauds, Know how you may be fooled

Beware! RBI cautions public against KYC frauds, Know how you may be fooled

New Delhi: The Reserve Bank of India (RBI) on September 13 cautioned people against frauds related to Know Your Customer (KYC) updation. In a statement, the RBI alleged that it has been receiving complaints/reports about customers falling prey to frauds being perpetrated in the name of KYC updation. The central

India’s macroeconomy ready for faster growth: Economist Ashima Goyal

India’s macroeconomy ready for faster growth: Economist Ashima Goyal

New Delhi: Even though Reserve Bank of India (RBI) has slashed country’s GDP growth projection for the current financial year to 9.5 per cent from 10.5 per cent estimated earlier, noted economist Ashima Goyal believes that India’s macroeconomy is more healthy as she claimed on Sunday that it is ready for faster growth

RBI to launch e-currency by Dec, know how will it be different from crypto

RBI to launch e-currency by Dec, know how will it be different from crypto

Mumbai: Reserve Bank of India (RBI) governor Shaktikanta Das recently made a strong argument in favour of a central bank digital currency (CBDC) for India, dropping hints about the launch of its digital currency as early as December this year. RBI’s digital currency will supposedly be known as a digital rupee. “The Reserve

Tough times ahead for policy makers as Indian companies look to shock consumers

Tough times ahead for policy makers as Indian companies look to shock consumers

New Delhi: As ‘transitory’ inflation reaches tipping point for Indian companies disabling them to absorb rising raw material costs, the central bank is now forced to unwind stimulus faster-than-expected and threaten a stock market rally that has earned billions for investors. Companies from the Indian unit of Unilever Plc to Tata Motors

RBI announces to give India its own digital currency to counter crypto

RBI announces to give India its own digital currency to counter crypto

Mumbai: Making a strong argument in favour of a central bank digital currency (CBDC) for India, the Reserve Bank of India (RBI) said that it is working towards a phased implementation strategy for its digital currency and examining use cases where it can be deployed with little disruption. The top bank

RBI projects India’s GDP growth rate at 10.5% for FY22

RBI projects India’s GDP growth rate at 10.5% for FY22

New Delhi: The Reserve Bank of India (RBI) on Thursday projected India’s gross domestic product (GDP) rate at 10.5% for Financial Year 2022, though country’s economy is limping due to devastating Coronavirus pandemic. RBI’s Monetary Policy Committee had projected this estimate during the policy announcement in April. Last month, the

ED issues show-cause notice to crypto exchange WazirX’s directors: Report

ED issues show-cause notice to crypto exchange WazirX’s directors: Report

NewDelhi: The Enforcement Directorate (ED) on Friday issued a show-cause notice to cryptocurrency exchange WazirX and its directors Nischal Shetty and Sameer Mhatre for allegedly violating money laundering guidelines in connection with transactions worth Rs 2,790.74 crore. The notices were issued under the Foreign Exchange Management Act (FEMA), 1999, after