News on AIR

October 6, 2023 4:43 PM

RBI says about 3.37% of Rs 2000 banknotes, worth Rs 12,000 cr still remain in circulation

As the deadline to exchange or deposit 2000 rupee banknotes nears, the Reserve Bank has said that about 3.37 percent of the currency notes, worth 12 thousand crore rupees, still remain in circulation. Speaking to reporters in Mumbai today, RBI Governor Shaktikanta Das said notes worth about 3.43 lakh crore rupees have returned to the system. While 87 percent of these have come as bank deposits, the rest have been exchanged over the counter. The total value of Rs 2000 banknotes ...

September 6, 2023 8:22 PM

RBI Governor Shaktikanta Das addresses 4th edition of Global FinTech Festival in Mumbai

RBI Governor Shaktikanta Das expressed the urgent need to ensure that innovations are accompanied by prudential safeguards and responsible conduct. He was addressing the 4th edition of the Global FinTech Festival in Mumbai today. He expressed serious concerns about the illegal loan apps. He said, many of these apps had their origin in foreign jurisdictions and have led to serious concerns about breaches of data privacy, unethical business conduct, levying of exorbitant interest rates, and harsh ...

August 10, 2023 8:40 PM

RBI keeps repo rate unchanged at 6.5 percent; Projects real GDP growth for current fiscal at 6.5 percent

Reserve Bank of India has kept the key interest rate unchanged for third time in a row. Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) unanimously decided to keep the repo rate unchanged at 6.5 percent. Repo rate is the rate at which the RBI lends money to commercial banks. Mr Das said, the standing deposit facility (SDF) rate remains at 6.25 percent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent....

July 11, 2023 8:37 PM

RBI Governor Shaktikanta Das asks banks to be extra vigilant in view of various adverse global development

Reserve Bank of India's Governor Shaktikanta Das has asked banks to be extra careful and vigilant in view of various adverse global developments. Governor today held meetings with the MD & CEOs of public and select private sector banks in Mumbai. In introductory remarks, the Governor noted the good performance of the Indian banking system despite various adverse global developments and stressed that banks need to be extra careful and vigilant. As per RBI statement, The Governor al...