RBI

India’s Axis Bank executes first onshore INR non-deliverable derivative trade with a South-based domestic corporate client following RBI directives

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A customer enters a branch of Axis Bank in Mumbai

India’s third largest private sector lender Axis Bank announced on June 8 that Axis Bank has executed its first onshore INR non-deliverable derivative trade with a large domestic corporate client based in the South within the guidelines of the Central Bank. Read Also: Axis Bank acquires Citibank’s Indian retail consumer business for $1.6 billion The … Read more

RBI to withdraw ₹2000 banknotes from circulation; Notes to be exchanged in banks from May 23

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INR 2000 notes

On 19 May 2023, the Reserve Bank of India (RBI) announced that the ₹2000 banknote has now been withdrawn from circulation. The ₹2000 banknote was introduced after the Narendra Modi-led government demonetised the ₹500 and ₹1000 denomination banknotes on 8 November 2016. The ₹2000 banknote was introduced under Section 24(1) of the Reserve Bank of … Read more

International trade settlement in Indian Rupees via Special Rupee Vostro account

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Indian rupee notes

On Monday 11 July 2022, the Reserve Bank of India (RBI) announced that the settlement of international trade can be done in Indian Rupees (INR) in order to boost the growth of global trade and to emphasize exports from India. And this additional arrangement has been made for invoicing, payment, and settlement of imports and … Read more

RBI Monetary Policy: RBI hikes repo rate to 4.90%, inflation at 6.7, GDP growth forecast at 7.2% in FY23

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RBI Monetary Policy: Document with Financial Data

RBI Monetary Policy: On Wednesday, 8 June 2022, the Reserve Bank of India (RBI) increased the repo rate by 50 basis points to 4.90% and this is the second time in five weeks the repo rate has been increased by 50 basis points. Whereas the Monetary Policy Committee (MPC) had hiked the repo rate by … Read more

Market slips amid rate hikes by central banks RBI, BoE, Fed

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Stock Price: Market slips amid rate hikes by central banks RBI, BoE, Fed

Almost all major markets are down since the beginning of 2022. US Fed, Bank of England, and RBI (Reserve Bank of India) have already started rate hikes and the market is expecting that the rates will be hiked further. Due to this the Indian market is also in a downward trend as high inflation is … Read more

RBI Monetary Policy: Repo rate unchanged at 4%, GDP growth forecast at 7.2% in FY23

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RBI Monetary Policy: Document with Financial Data

The Reserve Bank of India (RBI) on Friday 8th April 2022, for the 11th consecutive time, the Monetary Policy Committee (MPC) kept the lending rate or repo rate unchanged at 4% while the reverse repo rate has also been kept unchanged at 3.35%. This is the first meeting of the Monetary Policy Committee (MPC) of … Read more