“Nexus, conceptualised by the Innovation Hub of the Bank for International Settlements (BIS), aims to connect the FPSs of four ASEAN countries (Malaysia, Philippines, Singapore, and Thailand); and India, who would be the founding members and first mover countries of this platform,” read a statement issued by the RBI.
Tag: RBI
2,000-rupee notes being withdrawn by RBI; lifecycle ends on September 30
The 2,000-rupee banknotes are still legal tender, but all of them must be deposited in bank accounts by September 30, 2023, or they can be exchanged with banknotes of other denominations at any bank.
NRIs remit highest ever USD 107 billion in FY 2022-23: RBI Governor
The Governor of the Reserve Bank of India in a statement announced that inward gross remittances from the NRI for FY 2022–23 had reached a record high of USD 107.5 billion.
In a 4:1 majority, SC upholds Centre’s demonetisation move
The Supreme Court upheld the decision of the Central government taken in 2016 to demonetise the currency notes of INR 500 and INR 1000 denominations.
Emirates NBD mulls plans for expansion in India
One of the major banking groups in the Middle East North Africa and Turkey (Menat) region, Emirates NBD, has announced its plans for further expansion in India, following approval from the Reserve Bank of India (RBI) to open two additional branches.
RBI, MAS announce plan to link e-payment systems across India, Singapore
Singapore News: The Reserve Bank of India and the Monetary Authority of Singapore announced a project to link their respective fast payment systems. While India uses Unified Payments Interface (UPI) as a fast payment method, Singapore uses the PayNow system.
Indian companies’ overseas investment fell 35% in February 2021, says RBI
According to banking data, India Inc’s overseas direct investment fell by 31% to USD 1.85 billion in February this year.
Indian Supreme Court overturns central bank ban against cryptocurrency traders
The Supreme Court of India on Wednesday overturned a ban against cryptocurrency traders imposed by the Reserve Bank of India in April 2018.
Panglossian outlook and deepening of the India Bonds Market
Global central banks have moved to a rate softening regime to boost slowing economic growth. This has fuelled bond market rallies worldwide.
RBI cuts rates to support sagging Indian economy; announces measures
The Reserve Bank of India on Thursday cut interest rates by 25 basis points in its latest credit policy for the third time this year. It also signalled the possibility of more rate cuts as it looks to support a sagging Indian economy.