RBI
RBI Governor stresses fintech's role as a force multiplier
"Technology, innovation and fintech are working in tandem and contributing to the dynamism of the sector. In our journey towards higher level of sustainable development and financial inclusion, these forces morphed into force multipliers," Das said.
Paytm tokenizes over 52 mn cards across VISA, Mastercard & RuPay
The company has tokenized 52.3 million cards across VISA, Mastercard and RuPay in its effort to make card transactions safer and drive convenience for consumers.
RBI ready to bring card tokenisation norms into effect from Oct 1
Several people were cheated in the last few years by cyber frauds because they have stored their card data on the merchants website for future payments. Lets us understand what these new norms are and why you should tokenise your card.
Amid rising prices, monetary policy may keep inflation expectations firmly anchored: RBI Bulletin
The RBI's monthly bulletin for September 2022, in its chapter on the "State Of Economy" has said that the loss of momentum in global economic activity may be taking the edge off inflation. At the same time, it noted that the economy is poised to shrug off the modest tapering of growth momentum in the first quarter of 2022-23.
RBI likely to increase repo rate by 50 basis points to 5.9% in Sep policy: Morgan Stanley
The inflation which is ranging above the upper tolerance band of the Reserve Bank of India (RBI) for the eighth straight and therefore Morgan Stanley too expect inflation to remain sticky around 7.1-7.4 per cent in September as well, driven by increases in food prices as per high frequency food price trend.
RBI committed to hold rupee at 80 to USD; global headwinds likely to ease
Citing the trade deficit is increasing sharply and with analysts calling for a weaker rupee to help exports Mecklai said: "My sense though, is that RBI is fully committed to protecting Rs.80 to the dollar and I think that is when the global winds ease. The rupee may even strengthen back to Rs.79 or a bit better." The fall in global oil prices will help to reduce the trade deficit.
RBI using forex reserves 'sensibly' to defend rupee, lower outflow in festive season
"The erosion in the forex reserves amid the central bank's filling the gap between dollar demand-supply. The RBI has very well managed the inflows and outflows in the last couple of years," said Dilip Parmar, Research Analyst, HDFC Securities. According to the data compiled from the RBI's website, the central bank, since the start of this calendar year, has spent $94.752 billion till date to defend rupee from a free fall.
Digital currency to be launched as pilot project this year: RBI Deputy Governor
Addressing the India Ideas Summit, RBI Deputy Governor T. Rabi Sankar said that Central Bank Digital Currency (CBDC) is the most efficient system for cross-border payments. Finance Minister Nirmala Sitharaman had announced in the Union Budget that CBDC would be launched during 2022-23.
Rupee has held its own despite sharp depreciation in other currencies: RBI Governor
"The recent commentary from the US Fed at Jackson Hole on the future trajectory of US monetary policy has infused substantial volatility into global financial markets, with large spillovers and knock-on effects on emerging market economies (EMEs)," RBI Governor Das said while delivering a speech during the annual event of Fixed Income Money Market and Derivatives Association of India (FIMMDA).
NTT DATA Payment Services gets RBI nod for payment aggregator license
"This significant development also brings us closer to our vision, that is, to develop NTT DATA Payment Services India as one of the top three payment service providers in the country through better services and superior products," said Dewang Neralla, CEO of NTT DATA Payment Services.
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