RBI maintains interest rates to remain the same

RBI maintains interest rates to remain the same

Mumbai: – Reserve bank of India (RBI) announced its bi-monthly credit policy. Everyone was apprehensive about what decisions the RBI would take in the credit policy, while there is a massive price rise, as the Coronavirus pandemic is rampant again. RBI did not make any change in the interest rates, as expected by the markets. […]

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Central Government passes ordinance to bring cooperative banks under RBI control 

Central Government passes ordinance to bring cooperative banks under RBI control 

 New Delhi: – Government banks, Urban Cooperative Banks and Multi-State Cooperative Banks have been brought under complete control of the Reserve Bank of India (RBI). The Union Cabinet of Ministers has approved an ordinance regarding this. Last year major scams had been reported from cooperative banks. In Maharashtra, funds of thousands of customers were stuck […]

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RBI reduces repo rate

RBI reduces repo rate

Mumbai: – Shashikant Das, the Governor of the Reserve Bank of India (RBI), announced a reduction in the repo rate to 4%, saying that the Gross Domestic Product (GDP) has been severely hit because of reduced domestic demand and the drastic fall in exports. He also announced moratorium for the next three months, bringing major […]

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Coronavirus Pandemic: Indians withdraw a whooping ₹53,000 crore from banks

Coronavirus Pandemic: Indians withdraw a whooping ₹53,000 crore from banks

New Delhi: The Indian population has withdrawn a significant amount of money from the banks given the current threat of the Novel Coronavirus. The Reserve Bank of India (RBI) has informed that the citizens have withdrawn a whooping ₹53,000 crore from the banks as of 13th of March. The number of Coronavirus cases in the […]

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RBI sets up a special ‘Cryptocurrency’ and ‘Blockchain’ technology research unit

RBI sets up a special ‘Cryptocurrency’ and ‘Blockchain’ technology research unit

New Delhi: The Reserve Bank of India has established an independent unit for research on Cryptocurrency, Blockchain and Artificial Intelligence. This particular unit is reportedly responsible not only for keeping an eye on the new emerging technologies of Cryptocurrency and Blockchain but also for drafting rules and regulations regarding the same. RBI has issued a […]

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