Last Updated:February 18, 2025, 18:00 IST From April 01, 2016, the payment of interest on Savings Bank Account is on a quarterly basis. Thus, the Savings Bank interest calculated on daily product basis will be paid at quarterly intervals on 30th June, 30th September, 31st December & 31st March each year. Kotak Mahindra Bank. Kotak…
New Delhi: The Reserve Bank of India (RBI) said that 97.76 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, when their withdrawal was announced, have now been returned. “The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on…
The Rs 2000 banknotes continue to be legal tender, says the RBI. RBI says Rs 2,000 banknotes in circulation, which amounted to Rs 3.56 lakh crore as at the close of business on May 19, 2023, has now declined to Rs 7,961 crore The Reserve Bank of India (RBI) on Thursday said 97.76 per cent…
Last Updated: October 20, 2023, 13:45 IST India’s monetary policy needs to stay focused on slowing inflation, Shaktikanta Das, the governor of the Reserve Bank of India said on Friday, noting the uncertain outlook for food and oil prices. “In the current situation, monetary policy must remain actively disinflationary to ensure that ongoing disinflation process…
Curated By: Business Desk Last Updated: October 17, 2023, 12:54 IST The new rules will come into effect on December 1, 2023. RBI has set a penalty of Rs 5,000 per day for delay in returning the original documents. The Reserve Bank of India (RBI) has recently declared a new property rule. According to RBI,…
RBI said the bank has been directed to ensure that existing ‘bob World’ customers do not face any disruption on account of this suspension. (Representative image) The action, the RBI added, is based on certain material supervisory concerns observed in the manner of onboarding customers onto the application. The Reserve Bank of India on Tuesday…
RBI Governor Shaktikanta Das (File photo) The RBI, which had initially given time till September 30, for getting the notes deposited or exchanged, extended the same by a week till October 7, on the last date Governor Shaktikanta Das on Friday said Rs 3.43 lakh crore of Rs 2,000 denomination notes have come back to…
RBI MPC Meeting October 2023: The Reserve Bank of India’s decision to hold benchmark interest rate is on expected lines, and its focus on withdrawal of accommodative monetary stance will help in bringing down inflation while supporting growth, according to different industry experts. The Central Bank left its key interest rate unchanged as inflation remains…
Governor Shaktikanta Das said the RBI has identified high inflation as a major risk to macroeconomic stability and sustainable growth and remains resolutely focused on aligning inflation to the 4% target on a durable basis. (PTI/File) RBI Governor Shaktikanta Das said the monetary policy committee has decided to keep the repo rate unchanged at 6.5%….
The Reserve Bank of India on Friday (October 6) decided to keep the policy rate unchanged for the fourth time in a row as it maintains a tight vigil on inflation. The rate increase cycle was paused in April after six consecutive rate hikes aggregating to 250 basis points since May 2022. Also Read: RBI…