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.
ICICI Bank was the top gainer in the Sensex pack, rising around 4 per cent, followed by UltraTech Cement, Sun Pharma, Bharti Airtel, HUL, SBI, L&T, Axis Bank and IndusInd Bank.
Currently, RTGS is available for customers from 7.00 am to 6.00 pm on all working days of a week, except second and fourth Saturdays of every month.
The RBI has also decided to formulate guidelines on dividend distribution by NBFCs keeping in view the increasing significance of NBFCs in the financial system and their interlinkages with different segments.
RBI Governor Shaktikanta Das said that inflation is likely to remain elevated, barring transient relief in the winter months from prices of perishables.
RBI had last revised its policy rate on May 22, in an off-policy cycle to perk up demand by cutting interest rate to a historic low.