New Delhi: A recent study by the State Bank of India (SBI) has recommended that the Reserve Bank of India (RBI) consider a 25 basis points (bps) reduction in the key benchmark lending rate in its forthcoming monetary policy. The recommendation comes amid expectations of continued benign retail inflation into the next financial year. Since...
Prime Minister Narendra Modi announced on Saturday that India’s foreign exchange reserves have surged to a record high, while S&P Global Ratings has upgraded the country’s long-term sovereign credit rating for the first time in nearly two decades. Addressing The Economic Times World Leader Forum in New Delhi, PM Modi said, “We have missed several...
Reserve Bank of India (RBI) Governor Sanjay Malhotra has clarified that he never stated that Unified Payments Interface (UPI) cannot remain free forever. Speaking at the post-RBI policy conference, Malhotra said, “I want to clarify that I never said UPI can’t remain free forever. There are costs, and these costs have to be paid by...
The government on Sunday dismissed as “untrue” a viral WhatsApp message claiming that the Reserve Bank of India (RBI) had directed banks to stop issuing Rs 500 notes through ATMs by September 30, 2025. It clarified that no such instruction has been issued and Rs 500 notes remain legal tender. The misleading message further alleged...