The TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide…
MUMBAI: A month after raising over Rs 9,000 crore from TCS stake sale, Tata Sons has approached RBI seeking an exemption from a mandatory IPO. The holding company of the $150-billion salt-to-software Tata Group has informed RBI, in the fresh proposal, that it has reduced its debt significantly. Tata Sons needs to cut its debt…
RBI on Tuesday asked online payment firms to monitor transactions-related activities of merchants on their platforms and ensure that they meet its fresh guidelines, in a series of moves aimed at tightening the scrutiny of the sector.India’s burgeoning yet relatively less-regulated online payments industry has come under RBI’s cross-hairs given the lax oversight of some…
MUMBAI: In a move to boost transparency, RBI has asked all banks and finance companies to provide borrowers with a key facts statement that includes data on all fees and the annual cost of credit from Oct 1 besides basic loan information. The statement should also provide details on the policy on recovery agents, contact…
The Reserve Bank of India (RBI) has increased its gold purchases to enhance the diversity of its foreign exchange reserves amid fluctuations in the US dollar. The surge in the value of outstanding gold reserves accounted for more than 80% of the nearly $3-billion rise in forex reserves, which reached a record $648.5 billion as…
MUMBAI: RBI has allowed non-banks to issue wallets for the central bank digital currency, also known as eRupee. RBI has also launched “programmable CBDCs”, which will be issued to farmers for restricted usage of buying farm inputs, a move which may pave the way for fertiliser subsidies to be routed through this mechanism.For example, govt…
Mumbai: RBI‘s monetary policy committee on Friday decided to keep interest rates on hold for the seventh successive meeting, stating that “growth has surpassed all projections but cautioned that food price uncertainties continue to weigh on the inflation trajectory going forward”. RBI governor Shaktikanta Das said, “Two years ago, when inflation was at its peak…
UPI Access for Prepaid Payment Instruments (PPIs) through Third Party App: The Reserve Bank of India (RBI) governor Shaktikanta Das on Friday announced in his monetary policy committee (MPC) statement that individuals can now use prepaid payment instruments like digital wallets to make payments via UPI through third-party apps. RBI Governor Shaktikanta Das highlighted that…
Now you can deposit cash at Cash Deposit machines using your UPI! RBI governor Shaktikanta Das made this announcement as a part of the RBI Monetary Policy Committee (MPC)’s policy statement today. Source link
MUMBAI: RBI has deferred the implementation of its rules on exchange-traded currency derivatives by a month, resulting in traders scrambling to square off their positions.RBI’s circular, which was scheduled to come into effect on April 5, said that only traders with an underlying forex exposure can trade in currency derivatives. Exchange-traded currency derivatives, like futures…
