Nearly one-and-a-half years after the Reserve Bank of India (RBI) announced withdrawal of ₹2,000 denomination banknotes on May 19, 2023, the total value of banknotes which have yet not been returned stands at ₹6,977.6 crore as on Oct 31, 2024, shows the RBI data. The latest data revealed that the currency banknotes which have already been returned … Read more
India’s household savings as a proportion of our GDP is declining. In its latest Financial Stability Report (June 2024), the Reserve Bank of India has also noted that while net financial savings have declined in 2022-23, financial liabilities have gone up thanks to retail loans for consumption and investment. Rise of personal loans The personal … Read more
In 2024, despite the momentum in financialisation, the Nifty Bank index has underperformed, rising only 7% compared to the Nifty 50’s impressive 15.6% gain. This gap signals investor hesitation, with key banking stocks hovering around critical levels in both the public and private sectors. However, many banks maintain solid fundamentals and have the potential to … Read more
The Government of India has announced the buyback of its securities through auction for an aggregate amount of ₹25,000 crore (face value), announced Reserve Bank of India (RBI) on Friday. The G-securities with coupon rate of 7.72 percent will mature on May 25 next year. The securities with coupon rate of 5.22 percent will mature … Read more
If you are planning to open a fixed deposit (FD) account, it is advisable to first compare the interest rates offered by different banks. Although depositors tend to opt for the bank with which they share a long-term relationship, they can still choose a bank that gives them a higher rate of interest on fixed … Read more
The Reserve Bank of India (RBI) has issued the framework for recognition of self-regulatory organisation (SROs) in financial markets. This framework released on Monday was done in the aftermath of ‘Omnibus Framework for recognition of SROs’ which were issued early this year in March, 2024. It is noteworthy that RBI recently invited applications for recognition … Read more
The Reserve Bank of India (RBI) on Thursday said 97.92 per cent of the ₹2,000 banknotes in circulation have been returned to the banking system. The total value of ₹2,000 banknotes, which was ₹3.56 lakh crore on May 19, 2023, when the withdrawal was announced, has declined to ₹7,409 crore, the central bank said. For … Read more
The Reserve Bank of India (RBI) penalised five banks including Punjab National Bank (PNB) with various RBI directions, reported The Economic Times. RBI imposed a penalty of ₹1.31 crore on PNB, which became the fifth bank for getting the wrath of the banking regulator. Other banks fined by the RBI are The Gujarat Rajya Karmachari … Read more
Restrictions have been implemented by the Reserve Bank of India (RBI) to protect consumers from unsolicited credit cards. This law was put into effect by the RBI to safeguard you against unsolicited credit cards and the risks associated with them, such as Unwanted debt: Since you did not budget for the credit line, unanticipated debt may … Read more
Missing personal loan payments won’t land you in jail, but it can cause significant financial stress and damage your future credit opportunities. Here’s what can happen: Credit score damage: Late payments can significantly damage your credit score, which is a numerical representation of your creditworthiness. Negative marks from late payments indicate to lenders that you … Read more