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RBI makes no change in policy rates, growth rate expected 9.5 %
Reserve Bank of India (RBI) has not made any change in Repo Rate, Reverse Repo Rate, MSF Rate. RBI Governor Shaktikanta Das held a press conference on 04 June 2021 regarding the decisions of the central bank’s MPC on key rates. RBI Governor Shaktikanta Das said that the Monetary Policy Committee of the RBI has decided to keep the monetary stance liberal as long as it is needed to eliminate the impact of Covid-19. This is the sixth time in a row that the RBI has kept these rates constant. This means that the repo rate has been kept constant
Big decision of RBI, RTGS service now available 24X7
The Reserve Bank of India (RBI) has announced that from 14 December 2020 the real time gross settlement system (RTGS) in the country will start working 24×7 hours throughout the year. This will facilitate a lot of people doing digital transactions. This service will be available to customers all the time from 12:30 pm today (December 14). According to the Reserve Bank of India, RTGS facility will be available 24 hours a day from 14 December. This means that you will be able to transfer money through RTGS anytime and anytime. RBI Governor Shaktikanta Das says that online transactions have
RBI directs HDFC Bank to stop selling new credit cards
The Reserve Bank of India has asked a private sector lender, HDFC Bank, to discontinue the new sourcing of credit cards to customers on a temporary basis, along with its digital launch. The central bank has also asked the bank to stop launching digital business-generating activities that are employed under Digital 2.0 as well as other proposed business IT applications. The RBI order came after HDFC’s mobile banking, internet banking and payment utilities reported outages in the last 2 years. Complaints of the bank’s payment system and Internet banking were also included in the complaints dated November 21, 2020, due
USA becomes India’s second largest FDI source in first half of FY 2020-2021
According to data provided by the Ministry of Commerce and Industry, the United States emerged as the second largest source of foreign direct investment (FDI) for India during April-September 2020. It has replaced Mauritius during the first half of the financial year 2020. According to the data shown by the department to promote industry and internal trade, India has earned FDI of US $ 7.12 billion from USA and USD 2 billion has been invested in India from Mauritius, making this country Has slipped to fourth place during April-September 2020. Earlier during the same period in 2019-20, Mauritius was the
India Officially Enters Recession, GDP Contracts By 7.5 Percent In 2020-21 Q2
According to government data released on November 27, 2020, the Indian economy declined by 7.5 percent in the second quarter (July to September) of FY 2020-21. With this contraction, India has officially recorded a technical slowdown for the first time. This contraction is a rebound from the first quarter of FY 2020-21. India’s economy had declined by 23.9 percent in the April to June quarter (first quarter, FY 2020-21), marking the first contraction in 40 years as the Kovid-19 epidemic led to consumer demand and private investment dominating. Be influenced by According to the Ministry of Statistics and Program Implementation,
Finance Minister Nirmala Sitharaman to announce incentive package soon
On November 03, 2020, Economic Affairs Secretary Tarun Bajaj said that Finance Minister Nirmala Sitharaman will soon announce another stimulus package to speed up the economy affected by the Coronavirus crisis. In a conversation with reporters through video conference, he said that the Finance Ministry is looking into the suggestions and requests received from various sectors of the economy. Tarun Bajaj further said that despite the situation of corona virus epidemic, our growth, which we feel is intact, is now being accepted by others too, who are ready to invest in India. We are seeing a steady recovery in the
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