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How is Google’s GPay operating without authorisation: Delhi HC asks RBI

The Delhi High Court on Wednesday asked the Reserve Bank of India (RBI) how Google’s mobile payment app, GPay, was facilitating financial transactions without the requisite authorisation from it. A bench of Chief Justice Rajendra Menon and Justice A J Bhambhani posed the query to RBI while hearing a PIL which claimed that GPay was

RBI proposes VRR to attract long-term investment

RBI proposes VRR to attract long-term investment

RBI proposes VRR to attract long-term investment. The Reserve Bank of India, alongside the announcement of the bi-monthly monetary policy statement, proposed the introduction of a Voluntary Retention Route (VRR) to encourage Foreign Portfolio Investors (FPIs) willing to undertake long-term investments.Under the proposed route, the RBI said FPIs will have more operational flexibility in terms

99.3% demonetised notes returned to banks: Reserve Bank of India

99.3% demonetised notes returned to banks: RBI

99.3% demonetised notes returned to banks: RBI. The Reserve Bank of India (RBI) in its annual report for the year 2017-18 stated that 99.3 per cent of the demonetised Rs 500 and Rs 1,000 notes have returned to the banking system. According to the report, the total value of Specified Bank Notes (SBNs) in circulation as on November 08, 2016, post

RBI proposes VRR to attract long-term investment

RBI rate hike a ‘win-win’ situation for markets, banks

RBI rate hike a ‘win-win’ situation for markets, banks. The Reserve Bank of India’s (RBI) decision to raise the repo rate by 25 basis points (bps) to 6.50 per cent is a “win-win” situation for both markets and the banks as inflation is expected to rapidly decelerate to sub-5 per cent in coming months, suggests

RBI denomination banknotes

RBI to issue new Rs 100 denomination banknotes RBI to issue new Rs 100 denomination banknotes

The Reserve Bank of India (RBI) will shortly issue Rs 100 denomination banknotes in the Mahatma Gandhi (New) Series, bearing the signature of the bank’s governor, Dr Urjit R. Patel.However, all the existing banknotes of the same denomination issued by the Reserve Bank in the earlier series will continue to be legal tender, it clarified. The

RBI to raise $30-35 bn via NRI bonds to support rupee

RBI to raise $30-35 bn via NRI bonds to support rupee

NEW DELHI: The Reserve Bank of India is expected to raise USD 30-35 billion through NRI bonds to support the rupee and offset the slowdown in FPI flows amid rising oil prices, says a report. FPI inflows to India will be impacted by Chinese firms listing in global benchmark indices like MSCI, it said.According to

IDBI Bank MD Mahesh Kumar Jain appointed RBI Dy. Governor

IDBI Bank MD appointed RBI Dy. Governor. The Centre on Monday announced the appointment of IDBI Bank managing director (MD) and chief executive officer (CEO) Mahesh Kumar Jain, as the fourth deputy governor of the Reserve Bank of India (RBI). Department of Financial Services (DFS) Secretary Rajeev Kumar tweeted that Jain will serve as the

Industries have more NPA as compare to Agriculture

Industries have more NPA as compare to Agriculture

Chandigarh(Narinder Jagga): Non-performing Assets (NPA) are increasingly in Industry sector in compare to farming sector. In the Agriculture sector there is Rs 88446 outstanding and NPA is Rs 6681 crore, but in the Industry Sector, the outstanding is Rs 48,638 crore and NPA is Rs 6791 crore. But suicide rates are much higher in the

Sensex rises 570 pts, Nifty above 10,300 as RBI holds policy rates

The market indices on Thursday rallied after the Reserve Bank of India (RBI) kept its repo rate and reverse repo rate unchanged at 6 percent and 5.75 percent respectively.The Sensex rose 571.31 points or 1.73 percent to 33,590.38 and the Nifty gained 185.90 points or 1.84 percent at 10,314.30. Shares on BSE advanced, with all sectoral indices were in the

India APP Bitcoins Newyork Pluto

India’s first bitcoin trading app launched

At a time when bitcoins are in focus for all the wrong reasons, cryptocurrency dealer Pluto Exchange on Thursday announced the launch of India’s first mobile application for transacting in the virtual currency. In a press conference here, Pluto Exchange Founder and Chief Executive Bharat Verma said that his company is all set to launch

Swiss Par Panel agreed to info exchange with India on 'Black Money'

Swiss Par Panel agreed to info exchange with India on ‘Black Money’

Swiss Par Panel agreed to info exchange with India on ‘Black Money’ NEW DELHI: Paving the way for India to get instant access to details on Indians with Swiss accounts, a key parliamentary panel in Switzerland has approved an automatic information exchange pact between the two countries. The Commission for Economic Affairs and Taxes of

CM orders  clearance of pending paddy payment to farmers in 48 hours

CM orders clearance of pending paddy payment to farmers in 48 hours

CM orders clearance of pending paddy payment to farmers in 48 hours Chandigarh – Chief Minister Captain Amarinder Singh has ordered clearance of all pending paddy procurement payment of the farmers within 48 hours, following enhancement of the Cash Credit Limit (CCL) by the Reserve Bank of India (RBI). The Chief Minister has made it

Note ban anniversary: RBI says still verifying returned notes

New Delhi, Oct 29, Nearly a year after Prime Minister Narendra Modi announced demonetisation, the Rs 500 and Rs 1,000 bills returned to banks are still being “processed in all earnest” through a sophisticated currency verification system, the RBI has said. In reply to an RTI query, the central bank said it has processed about

Punjab procure over 118 lakh tonnes paddy

Punjab procure over 118 lakh tonnes paddy

Punjab procure over 118 lakh tonnes paddy. Agrarian state Punjab have procured over 118.18 lakh tonne of paddy this season so far, Food and Supplies Department officials said here on Saturday. Government agencies have procured 98.1 per cent of the paddy arriving in grain markets in Punjab. The rest of the paddy has been procured by rice

Bank Aadhaar linking: RBI says never issued any order, RTI reveals

The Reserve Bank of India has clarified that it has not issued any order making it mandatory to link Aadhaar numbers to bank accounts, failing which accounts will be suspended. The central bank added that it “has not issued any instruction so far regarding mandatory linking of Aadhaar number with bank accounts.” Moreover, the RTI also

RBI brings fresh guidelines for wallet users

RBI brings fresh guidelines for wallet users

RBI brings fresh guidelines: The Reserve Bank of India (RBI) in a set of fresh guidelines, has introduced stricter Know Your Customer (KYC) norms for wallet users, allowed interoperability and brought in fraud detection norms to prevent fake wallet transactions steps which will change the scope of operations for mobile wallets.Customer can now move money

Demonetisation adversely affected GDP growth: Manmohan Singh

Demonetisation adversely affected GDP growth: Manmohan Singh

Demonetisation adversely affected GDP growth: Manmohan Singh. Former Prime Minister Manmohan Singh once again targeted the Modi government and warned of demonetisation and hasty implementation of GST adversely impacting GDP growth.In an interview, Manmohan said that GDP growth in the first quarter of current fiscal slumped to a three year low of 5.7 percent down

Google to launch Digital Payment App ‘Tez’ in India soon

Google to launch Digital Payment App ‘Tez’ in India soon

Google is all set to join the race of digital payment in the world of e-cash which makes easy and quick payments through payment Apps. Google is reportedly launching a Unified Payments Interface (UPI)-based digital payment service called “Tez” as early as next week. UPI is a payment system launched by the National Payments Corporation

RBI includes HDFC Bank in 'too big to fail' list

RBI includes HDFC Bank in ‘too big to fail’ list

RBI includes HDFC Bank in ‘too big to fail’ list. RBI today included HDFC Bank in the list of ‘too big to fail’ lenders, referred to as D-SIB or domestic systemically important bank. India’s largest lender SBI and private sector major ICICI Bank were classified as D-SIBs in 2015.With the inclusion of HDFC Bank in

Only 100 rupee notes will be withdrawn from ATM

Only 100 rupee notes will be withdrawn from ATM

The Reserve Bank of India (RBI) has already reduced the number of 2000 in ATM and now the number of RS.500 notes will also be reduced. Only 100 rupees note will be released from ATM at the end of the year.The RBI has ordered to banks at least 10 percent cash withdrawal of hundred rupees