rbi: RBI takes steps to attract dollar in bid to check rupee’s slide

(This story originally appeared in on Jul 07, 2022) MUMBAI: To make up for the multi-billion-dollar outflow due to selling by foreign portfolio investors (FPIs) and a record trade deficit, the RBI has taken steps to boost debt inflows. The move comes amid the rupee sinking to record lows of late. Though on Wednesday, the … Read more

forex reserves: RBI moves to boost forex inflows, arrest Re slide

The Reserve Bank of India (RBI) Wednesday took the first step to attract dollar inflows amid an unabated outflow of portfolio funds, seeking to salvage the sinking rupee from its lifetime lows against the US currency and conserve a fast-depleting foreign exchange stockpile assiduously accumulated when global liquidity was plentiful. The central bank eased several … Read more

RBI takes steps to attract foreign flows, says growth prospects stay strong

The Reserve Bank of India (RBI) on Thursday announced a series of measures to attract foreign flows in a bid to protect the local currency amid depleting foreign exchange reserves. India’s foreign exchange reserves have depleted by $38 billion to below $600 billion since the Russian invasion of Ukraine late February. … Read more

How to exchange damaged torn and taped currency notes in India? – RBI Rule

Soiled, mutilated or imperfect currency notes are not useless. Such notes can be exchanged by any bank branch or Reserve Bank of India (RBI) issue office on the condition that they are not fake. Importantly, notes on which religious or political slogans are written cease to be legal tender … Read more

RBI examining PPI credit, BNPL models; in talks with fintechs on concerns

The Reserve Bank of India (RBI) is examining the practices and models of prepaid payment instruments (PPI) and Buy Now Pay Later (BNPL) service providers days after the central bank reiterated its stance that regulated activities that require license cannot be practiced by fintech players, without authorisation, under the garb of innovation. … Read more

War in Europe may snuff out global recovery: RBI Dy Governor Michael Patra

The current geopolitical situation arising from Russia’s invasion of Ukraine threatens to ‘snuff out’ global economic recovery post the Covid-19 pandemic, Reserve Bank of India Deputy Governor Michael Patra said on Friday. “Emerging markets bearing the brunt of the Russia-Ukraine war despite being bystanders,” said Patra, addressing an event … Read more