RBI holds Repo rate steady, reduces CRR to 4% maintains ‘Neutral’ stance
The Reserve Bank of India (RBI) announced its fifth bi-monthly monetary policy for FY25 today, December 6, 2024. The announcement comes amid economic challenges such as lower GDP growth, inflation, and concerns over tight liquidity conditions in the banking system. The RBI’s rate-setting committee (MPC) kept the benchmark key policy rates unchanged, Repo at 6.5%…
Read article Deepfake videos of RBI Governor: RBI warns public to be careful
The Reserve Bank of India on Tuesday placed on its website that the deepfake videos of the Governor are being circulated on social media that claim the launch of or support for some investment schemes by the RBI. “These videos attempt to advise people to invest their money in such schemes, through the use of…
Read article RBI carries out multiple amendments to KYC Norms effective from November 6.
RBI on a review amended KYC Master Direction on November 06, 2024. “The amendment has been necessitated to (a) align the instructions with the recent amendments carried out in the Prevention of Money Laundering (Maintenance of Records) Rules, 2005 vide Gazette Notification dated July 19, 2024, (b) incorporate instructions in terms of the corrigendum dated…
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UPI 123Pay transaction limit increased to ₹10,000 and UPI Lite wallet limit increased to ₹5,000
Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday (October 9) announced changes in transaction limits of UPI 123 and UPI Lite wallet. During the Statement on Developmental and Regulatory Policies announcement, Das said that the per-transaction limit for UPI 123Pay will be increased from ₹5,000 to ₹10,000, while the UPI Lite wallet limit…
Read article RBI maintains status quo on Repo, policy rates, but changes stance to Neutral
The Reserve Bank of India (RBI) announced its fourth bi-monthly monetary policy for FY25 today, October 9. The RBI’s rate-setting committee (MPC) kept the benchmark repo rate unchanged at 6.5% for the tenth straight meeting. However, RBI maintains the status quo on policy rates, but changes its stance to Neutral from ‘withdrawal of accommodation’; GDP…
Role of Financial Sector Regulators in an Economy
Financial regulators are government agencies responsible for overseeing and regulating financial institutions and markets. The role of regulators of financial sectors encompasses a comprehensive framework of laws, rules, and procedures established by governments and financial authorities. Its essential objectives are to maintain stability and integrity in the financial system, protect consumer interests, and foster fairness…
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