Fixed deposit (FD) investors have benefited from rising interest rates over the past 1-2 years, with rates reaching their peak and remaining there for a considerable time. However, this favorable situation is not expected to continue indefinitely. Although the Reserve Bank of India (RBI) has maintained the repo rate, it is anticipated that this may…
NEW DELHI: There is not likely to be any impact on loan EMIs as the Reserve Bank of India‘s monetary policy committee had decided to keep the repo rate unchanged at 6.5%.“The monetary policy committee decided by a 4:2 majority to keep the policy repo rate unchanged at 6.5%. Consequently, the standing deposit facility (SDF)…
NEW DELHI: India’s foreign exchange reserves surged by $4 billion to reach $670.857 billion for the week that ended on July 19, according to the Reserve Bank of India (RBI) on Friday.The overall reserves had jumped by $9.699 billion to an all-time high of $666.854 billion in the last week that concluded on July 12.The…
Paytm layoffs: One97 Communications Limited, the parent company of Paytm, is currently undergoing a restructuring process that involves an undisclosed number of people being laid off. According to a PTI report quoting the company statement, Paytm is providing outplacement support to these employees, collaborating with over 30 companies that are currently hiring and assisting those…
India is poised for a long-awaited economic take-off, driven by rising aggregate demand and increased non-food spending in the rural economy, according to the Reserve Bank of India‘s May Bulletin released on Tuesday. Rising aggregate demand The RBI’s article on the ‘State of the Economy’ highlighted a quickening momentum in aggregate demand. Recent indicators show…
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…
Are you being overcharged on loan interest? The Reserve Bank of India (RBI) has identified instances of unfair lending practices by banks and other financial institutions when it comes to charging interest on loans. In response, the RBI has issued a directive urging these institutions to correct their practices and ensure fair treatment of borrowers.Here…
Bank holidays April 2024: Do you do your banking on Saturdays? If so, remember that banks are open only on the first, third, and fifth Saturdays if the month has a fifth Saturday. They are closed on the second and fourth Saturdays, as well as every Sunday.Banks will be closed on Saturday, April 27, 2024,…
Kotak Mahindra Bank share price today: The Reserve Bank of India‘s (RBI) decision to temporarily halt Kotak Mahindra Bank’s onboarding of new customers through online and mobile banking channels, as well as the issuance of new credit cards, has led to a significant drop in the bank’s share price. The stock fell by up to…
The Reserve Bank of India (RBI) has instructed Kotak Mahindra Bank to immediately stop onboarding new customers through its online and mobile banking channels and cease issuing new credit cards. This regulatory action was taken due to concerns about the bank’s compliance and risk management practices.However, RBI has directed Kotak Mahindra Bank to continue providing…
