NEW DELHI: After the Reserve Bank of India (RBI) allowed banks to increase charges on ATM cash withdrawals beyond the mandatory free monthly usage, Tamil Nadu chief minister MK Stalin on Sunday said the move would “nullify” the objectives of the financial inclusion of poor people and termed it ” institutionalised extraction”.“The Union Government urged…
India intends to extend privileges previously exclusive to overseas Indians to all foreign investors. (AI image) The Reserve Bank of India (RBI) plans to raise the investment limit for individual foreign investors in listed companies to 10% from 5%, aiming to enhance capital inflows, according to senior government officials and documents seen by Reuters.Foreign portfolio…
This fee, charged between card-issuing and ATM-operating banks, ultimately affects customer banking expenses. (AI image) ATM withdrawals will cost more soon! The Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) have sanctioned an increase of ₹2 in ATM interchange fees for cash withdrawals to ensure business sustainability. These revised charges…
March 2025 bank holidays: With the financial year drawing to a close, people and businesses typically hasten to finalise their banking activities, including tax submissions, investment decisions and monetary settlements. Whilst many prefer conducting bank visits on Saturdays to avoid workday conflicts, it is essential to verify bank operating hours as per the Reserve Bank…
RBI’s 2003 regulation granted ‘non-resident Indian’ (NRI) status to overseas students. (AI image) The Reserve Bank of India (RBI) is reportedly examining the utilisation of a two-decade-old foreign exchange regulation that was initially established to assist Indian students studying abroad. Students have been quietly facilitating international money transfers for years, a practice that is now…
NEW DELHI: The government of India on Saturday appointed former Reserve Bank of India (RBI) Governor Shaktikanta Das as Principal Secretary-2 to Prime Minister Narendra Modi, according to an official order.His tenure will be “co-terminus” with the term of the PM or until further orders, whichever comes first.“The Appointments Committee of the Cabinet has approved…
Are banks open on March 31, 2025? March 2025 bank holidays: RBI has directed all agency banks handling government transactions to remain operational on March 31, 2025 (Monday), despite it being a holiday in several states. This measure ensures accurate financial reporting for FY 2024-25 by recording all transactions within the same period.According to an…
NEW DELHI: Retail inflation eased to a five-month low in January as vegetable prices moderated, bringing much-needed relief to authorities battling stubborn price pressures, while industrial output growth slowed, led by a sluggish manufacturing sector. Data released by the National Statistical Office (NSO) on Wednesday showed retail inflation, as measured by the consumer price index…
Kolkata: Gold crossed the ₹85,000 mark for the first time on Monday in the physical market as safe-haven demand for the metal surged on fears of a global trade war after US President Donald Trump announced new tariff plans. The precious metal was trading at ₹85,665 per 10 gm, up from ₹84, 699 per 10…
MUMBAI: Reserve Bank of India‘s (RBI) decision to introduce exclusive domains for banks will make it easier to identify genuine banking websites and avoid phishing scams. Customers can verify a bank’s authenticity by checking if its website has the ‘bank.in’ extension before making transactions.RBI governor Sanjay Malhotra said rising fraud in digital payments is a…
