reserve bank of india

Raghuram Rajan: Can India grow rich before growing old?

“By 2047-2050 we are going to start growing old. Are we going to be rich by then? Not at 6-6.5 per cent growth,” he said.

RBI restricts Kotak Mahindra Bank from online customer onboarding

The RBI's directive, issued under Section 35A of the Banking Regulation Act, 1949, underscores the central bank's concerns about deficiencies observed during its IT examinations of KMB for the years 2022 and 2023. Despite receiving corrective action plans from the RBI in both years, subsequent assessments revealed ongoing non-compliance by the bank.

India’s economic triumph is defying sceptics

India’s recent economic performance has once again demonstrated its resilience and dynamism, with a remarkable GDP growth of 8.4% in the October-December quarter of 2023-24, marking the highest growth rate in six quarters. This stellar achievement has firmly established India as the fastest-growing major economy globally, outpacing economic powerhouses like China, the US, and the […]

Caught on cam: Paytm CEO’s bizarre reaction when asked about RBI ban

NEW DELHI: Paytm CEO Vijay Shekhar Sharma came under limelight after the Reserve Bank of India (RBI) imposed restrictions on the Paytm Payments Bank, prohibiting the entity from providing additional banking services starting March 2024. Despite this grim situation of his company, Sharma still looked very flamboyant when spotted by The New Indian’s Executive Editor […]

RBI restricts Paytm Payments Bank services starting March 2024; here’s why

NEW DELHI: The Reserve Bank of India (RBI) has implemented restrictions on Paytm Payments Bank, prohibiting the entity from providing additional banking services starting March 2024. This action stems from concerns related to the breach of regulatory norms and compliance issues. “The Comprehensive System Audit report and subsequent compliance validation report of the external auditors […]

RBI confirms 97.26% of Rs 2,000 notes returned since May 19 withdrawal

The central bank had declared the withdrawal of Rs 2,000 notes on May 19, 2023.

Credit risk weight on exposure to increase by 25% for banks, NBFCs

NEW DELHI: The Reserve Bank of India (RBI) decided to increase the risk weight by 25 per cent on consumer credit exposure of commercial banks as well as non banking finance companies (NBFC), on Thursday. Before the notification was made, the risk weight was slated at 100 per cent. However, following the development, it has […]