REC gets RBI’s nod to set up subsidiary in Gujarat’s GIFT City
The subsidiary will engage in several financial activities as a finance company within GIFT, including lending, investment, and other services.
The subsidiary will engage in several financial activities as a finance company within GIFT, including lending, investment, and other services.
According to the RBI directions, they can access overdraft facilities in nostro accounts solely for operational use.
"The value of these Rs 2,000 notes had come down to Rs 8,202 crore at the close of business on March 29, 2024," the RBI had said on April 1 as part of its currency update.
Inflation is expected to remain above the Reserve Bank of India's target level of 4 per cent over the forecast period due to strong economic activity, Majumdar said.
The Reserve Bank of India (RBI) on Thursday cautioned the public against Prepaid Payment Instruments issued by unauthorised entities.
In the narrative of a nation’s economic performance, GDP growth often takes centre stage, like the star student’s report card that parents eagerly await.
Coming as a positive development for the Indian economy, the Fitch rating agency has raised its estimate for India's economic growth for this fiscal year and next.
Every year, a day before the Union Budget, the Chief Economic Adviser comes out with the Economic Survey for the year. This year, breaking with tradition, since an interim budget was being presented, the Government deferred publication of the Economic Survey.
The MoU covers all current account transactions, permissible capital account transactions and any other economic and financial transactions as agreed upon by both countries, it added.
In a bold move to revolutionise its digital payments ecosystem, the Reserve Bank of India (RBI) has set its sights on launching an interoperable payment system for internet banking in 2024.
