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MUMBAI: RBI governor Sanjay Malhotra on Tuesday asked bank chiefs to use technology to cut down intermediation costs so as to work with lower spreads and support sustainable growth. At the same time, he asked banks to guard against the growing number of digital frauds by using intelligence-driven safeguards.Malhotra met with the managing directors and…
Multiple factors are affecting the rupee negatively. (AI image) The Indian rupee is under pressure and has been hitting new lifetime lows – crossing the 90 mark versus the US dollar. The rupee has depreciated 4.9% against the dollar in 2025, positioning itself as the third-worst performer among 31 major currencies, surpassed only by the…
The Reserve Bank of India on Tuesday pressed banks to fully transmit policy rate cuts to borrowers, as Governor Sanjay Malhotra urged lenders to support sustainable growth and improve customer outcomes, PTI reported.Malhotra met managing directors and chief executives of public sector banks and select private lenders in Mumbai, asking them to pass on the…
NEW DELHI: Banking regulator RBI and the country’s largest PSU bank SBI Monday told Supreme Court it was not possible to give personal hearings to account holders before declaring an account fraud in view of the massive number of banking frauds.The country witnessed 60,000 cases of bank fraud in the last two financial years involving…
Home loan borrowers are set to get relief as several major banks have started cutting lending rates after the Reserve Bank of India lowered the repo rate by 25 basis points to 5.25% on December 5, 2025. Following the repo rate cut from 5.50%, lenders have moved to reduce MCLR-, RLLR- and RBLR-linked rates, paving…
A low inflation environment, characterised by low core inflation, primarily provided policy space. (AI image) By Dipti DeshpandeAfter a five-month pause, the Monetary Policy Committee (MPC) of the Reserve Bank of India reduced the repo rate again.This action was complemented by additional liquidity-easing measures aimed at speeding up transmission to the real economy at a…
MUMBAI: RBI has granted in-principle approval for Fino Payments Bank to convert into a small finance bank, allowing it to enter lending, widen its product suite and build a stronger liability franchise while continuing current operations until final clearance. It is the RBI’s first such approval for any payments bank. Fino said it is reworking…
MUMBAI: RBI’s plans to add nearly Rs 1.5 lakh crore to money markets will provide temporary relief but that may not be enough, analysts say. Further action could be required in the fourth quarter of the current fiscal, they said. If the rupee remains under pressure, RBI may need to use its reserves to limit…
MUMBAI: The RBI delivered its first rate cut since June 2025 on Friday, lowering the repo rate by 25 basis points to 5.25%. The move is expected to soften home loan rates, which may fall to a record low.The RBI also raised the growth projection for FY26 to 7.3% from 6.8% while lowering the inflation…
MUMBAI: RBI deputy governor Poonam Gupta has responded to recent IMF comments questioning the quality of India’s growth data and classifying the rupee’s exchange rate regime as a “crawling peg” within a managed float system.On the concern regarding data quality, Gupta said that the IMF’s critique is more procedural than substantive. “The point that they’re…
