RBI to shut Rs 2000 banknote exchange facility for a day on April 1
The facility for the exchange of the Rs 2000 banknotes has been available at the 19 issue offices of the RBI since May 19, 2023.
The facility for the exchange of the Rs 2000 banknotes has been available at the 19 issue offices of the RBI since May 19, 2023.
India recent economic indicators paint a mixed picture, marked by a noteworthy reduction in the current account deficit (CAD) alongside persistent challenges in the trade balance.
S&P Global credit analyst Geeta Chugh said: “India’s regulator has underscored its commitment to strengthening the financial sector.”
Paytm saw its worse after the Reserve Bank of India (RBI) put a ban over the operations of its payment bank services.
The RBI said the rupee is among the least volatile currencies and is steadily appreciating. "The INR has been bolstered by a pick-up in foreign direct investment by 11.4 percent year-on-year in October-December 2023," it said.
Banks are not allowed to grant loans against CDs, unless specifically permitted by the Reserve Bank.
It also lowered its forecast for the country's economic growth to 9.5 per cent for the current financial year ending March 31, 2022, from the previous estimate of 10.5 per cent.
In order to further enhance customer convenience, and to leverage the 24x7 availability of RTGS, NACH operation is being extended on all days.
"Upside risks to inflation emanate from persistence of the second wave and consequent restrictions on activity on a virtually pan-India basis," Das said.
Cryptocurrencies are digital or virtual currencies in which encryption techniques are used to regulate the generation of their units and verify the transfer of funds, operating independently of a central bank.