Mumbai, — The Reserve Bank of India (RBI) has decided to retain the policy repo rate at 6.5% for the eighth consecutive meeting, indicating a cautious attitude on inflation. This decision came after the RBI’s Monetary Policy Committee (MPC) met for the first time after the Lok Sabha election results were released. RBI Governor Shaktikanta…
The Reserve Bank of India (RBI) and NPCI International Payments (NIPL) have set an ambitious aim of expanding the Unified Payments Interface (UPI) to 20 countries by fiscal year 2029, according to the RBI’s FY24 annual report. This effort is scheduled to commence in fiscal year 25 and demonstrates the central bank’s commitment to expanding…
In a significant development, the Reserve Bank of India (RBI) has successfully transferred approximately 100 tonnes (1 lakh kilograms) of gold from the United Kingdom to its vaults in India, marking the first such large-scale transfer since 1991. This strategic move is aimed at reducing storage costs and diversifying the location of its gold reserves,…
