'Project Nexus': RBI ties up with ASEAN for instant cross-border retail payments
Project Nexus to connect faster payment systems of four ASEAN countries, including India, for efficient, faster, and more cost-effective cross-border payments
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July 2024
June 2024
Bank of Baroda slapped with ₹1,068 cr tax order; share dips
BoB says it has adequate factual and legal grounds to reasonably substantiate its position in the matter, and expects the entire demand to subside
Household debt warrants close monitoring: RBI
With overall household savings declining to 18.4% of GDP in 2022-23 from an average of 20% of GDP over 2013-2022, household debt warrants close monitoring, says RBI
Banks' gross NPA ratio hits multi-year low of 2.8%
Indian banks have been boosted by rising profitability and declining non-performing assets.
India’s external debt surges 6% to $663.8 bn in FY24
Despite this increase, the external debt-to-GDP ratio fell to 18.7% by the end of March 2024, down from 19% at the end of March 2023.
CBDC is future of money; no competition with UPI: RBI Governor
Shaktikanta Das says CBDC is interoperable -- with the same QR code, one can make UPI payments or CBDC payments
Restrictive policy will lead to growth sacrifice in 2025-26: MPC member Jayanth Varma
Jayanth Varma voted to reduce the repo rate by 25 basis points and to change the stance to neutral.
India’s economic growth averaged over 8% from 2021-24: RBI report
This suggests a shift in the trend growth rate post-pandemic, driven by domestic factors, write RBI economists
Revival in FPI inflows likely to ease pressure on rupee
INR closed marginally lower at 83.55 against the U.S. dollar on Friday, hovering near its lifetime low of 83.57, amid intervention by the RBI.
RBI imposes penalty worth ₹1.45 cr on Central Bank of India
The RBI also imposed a monetary penalty worth ₹96.40 lakh on Sonali Bank PLC for violation of certain rules
