Reserve Bank of India (RBI) has hiked the repo rate by 0.50%, taking it to 5.90% from 5.40%. It will result in raising interest on various loans such as housing, vehicle, personal, etc. leading to an increase in the EMI (Equated monthly instalment) for the borrowers.
Reserve Bank of India has alerted people instructing them not to fall prey to fraudsters. In today’s time, many people easily fall prey to fraudsters.
Sri Lanka is currently going through an economic crisis that is said to be the biggest in the last 70 years. There are indications that a similar crisis could befall Nepal, India’s other neighbour.
The cardless money withdrawal facility will curb things such as Card Skimming (a method of stealing the technical information and PIN of the ATM card).
Reserve Bank of India (RBI) has announced that Rs. 2,000 currency notes will not be printed in financial year 2021-22.
In view of rising online frauds, the Reserve Bank of India has laid down the guidelines to compensate the victims.
A few days ago media circulated a news that currency notes of Rs. 5, 10, and 100 denominations will be discontinued.
Apparently faced with a severe liquidity crunch due to a sharp fall in cash offerings by devotees to the Shri Venkateshwara temple on Tirumala, the Tirumala Tirupati Devasthanams on 28th August decided to convert its cash deposits worth over Rs 12,000 crore in various banks into the monthly mode.
To meet the regular expenses, Travancore Devaswom Board has decided to mortgage the Sabarimala temple’s gold at reserve bank.
The Central Cabinet, in a meeting have decided to bring 1,482 Urban Cooperative and 58 Multi-state Cooperative banks under the control of Reserve Bank, informed by Central Minister Prakash Javdekar.