Days after the Union Budget proposed taxing cryptocurrencies, which gave rise to apprehensions of legitimising them, an Reserve Bank of India (RBI) official has asked for a complete ban on such virtual currencies citing threat to macroeconomic stability. In a speech to bankers on Monday, RBI deputy governor T Rabi Sankar demolished all the arguments for allowing cryptocurrencies in India as […]
By Administrator_India Capital Sands RBI Monetary Policy LIVE Updates: The Monetary Policy Committee (MPC) has decided to maintain status quo and keep interest rates unchanged. Currently, the repo rate is 4 percent and reverse repo rate is 3.35 percent. Reserve Bank of India (RBI) Governor Shaktikanta Das said the policy stance continues to be “accommodative”. […]
By Administrator_India Capital Sands The Reserve Bank of India (RBI) on Wednesday allowed authorised non-bank payment system providers (PSPs) to participate in centralised payment systems (CPS), such as real-time gross settlement (RTGS) and national electronic fund transfer (NEFT), as direct members. PSPs include prepaid payment instrument (PPI) issuers, card networks, white label ATM (WLA) operators […]
By Administrator_India Capital Sands The Reserve Bank of India (RBI) on December 14 allowed certain exemptions in new current account rules which will come into effect from December 15 onwards. Under the new rules, all the scheduled commercial banks and payments banks will be excluded from the RBI’s August 6 circular, in which the regulator […]
By Administrator_ India Capital Sands The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) that decides on key lending rates on October 7 started its three-day meeting. There is a broad consensus that the committee will adopt a status quo on policy rate decision, to be announced on October 9, as […]