The fact-checking unit of the Press Information Bureau (PIB) has called the assertion as "fake" and added that it is unsupported by official data.
The Central Board of Reserve Bank of India (RBI) approved a record surplus transfer of Rs 2.87 trillion to the Central government for 2025-26.
Sanjay Malhotra said the rising energy prices due to the ongoing Iran war were testing India's flexible inflation targeting. This necessitates potential policy intervention by the central bank.
The central bank announced the withdrawal of ₹2,000 denomination banknotes from circulation on May 19, 2023.
When regulators move early, markets often complain. That familiar tension is now visible in India’s banking sector as the Reserve Bank of India pushes lenders toward a more rigorous, forward-looking assessment of loan risk.
The reserves stood at $534.568 billion for the week ended July 31.
The RBI Board had met via video conference on 14 August under the chairmanship of the central bank governor Shaktikanta Das.
Reserve Bank of India’s six-member Monetary Policy Committee decision to keep the repo rate unchanged at four per cent is a step in the right direction, especially when it is borne in mind that inflation is now on the rise.
Secretary, Hotel Association of India, Mr J K Mohanty said without such help from the RBI, the hotel industry in the country will collapse.
According to Union Information and Broadcasting Minister Prakash Javadekar, the move will give an assurance to 8.6 crore depositors in these banks that their money will stay safe.
