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IMF sees India’s economy grow at 6.3% in current fiscal year

Unique Times December 19, 2023 0

The International Monetary Fund (IMF) has forecasted a 6.3% growth for India’s economy in the current fiscal year and the following one, citing support from macroeconomic and financial stability. According to the IMF’s Article IV consultation report, India’s growth will be Continue Reading

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RBI Tightens Norms For Personal Loans, Credit Cards Amid Demand Surge

Unique Times November 17, 2023 0

On 16th November, the Reserve Bank of India (RBI) implemented stricter regulations on personal loans and credit cards, increasing the risk of a slowdown in loan growth. These new rules, involving higher capital requirements, are expected to raise the cost of such loans, potentially restricting the growth in these sectors that has surpassed the overall […]Continue Reading

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RBI Proposes To Launch Code-Based Coin Vending Machine In 12 Cities

Unique Times February 8, 2023 0

Shaktikanta Das, the governor of the Reserve Bank of India, announced on Wednesday that the institution would begin a pilot programme for QR code-based coin vending machines (QCVM) in 12 cities across the nation. Instead of physically presenting banknotes, these vending machines will issue coins in exchange for a debit to the customer’s account utilising […]Continue Reading

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RBI To Launch Retail Digital Rupee On December 1 On Pilot Basis

Unique Times November 29, 2022 0

The retail digital rupee will be introduced on December 1, 2022, as the Reserve Bank of India (RBI) said today. Eight banks have been chosen by the central bank to take part in this trial in stages. A digital token that stands in for legal cash will be used to represent the retail digital rupee. […]Continue Reading

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India’s Forex Reserves Fall To Lowest Since July 2020

Unique Times October 28, 2022 0

The RBI said on Friday that India’s foreign exchange holdings decreased by USD 3.847 billion to USD 524.52 billion for the week ending October 21. Since July 2020, this is the lowest level. The aggregate reserves have been falling for several months now, falling by USD 4.50 billion to USD 528.37 billion in the preceding […]Continue Reading

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RBI Announces Digital Rupee. E-Rupee To Launch Soon On Pilot Basis

Unique Times October 7, 2022 0

In an effort to test digital currency in India, the Reserve Bank of India announced today that it will shortly start a trial rollout of the digital rupee, or e-Rupee, for particular use cases. In a concept note on Central Bank Digital Currency, the central bank stated, “As the range and scope of such pilot […]Continue Reading

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RBI Hikes Key Lending Rate To 3-Year-High Of 5.9%, Fourth Increase In A Row

Unique Times September 30, 2022 0

The Reserve Bank of India increased its benchmark lending rate by 50 basis points to 5.90%, a three-year high spurred by high inflation, aggressive monetary policies worldwide, and market volatility. The monetary policy committee (MPC), which is made up of three members from the RBI and three outside members, hiked the key lending rate, also […]Continue Reading

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RBI Hikes Key Rate By 0.50% To 5.40%, Highest Since 2019

Unique Times August 5, 2022 0

The Reserve Bank of India increased its benchmark lending rate by 50 basis points on Friday, bringing it to pre-pandemic levels of 5.40 percent. This was the third consecutive increase to the rate, which was raised to combat this year’s persistently high inflation. The monetary policy committee (MPC) increased the benchmark lending rate, often known […]Continue Reading

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BJP pushes country to financial emergency, alleges Congress

Unique Times August 30, 2019 0

The Grand Old Party alleged that the Saffron Party had pushed the country to the state of financial emergency. The Congress claimed that the BJP government had forcefully taken a huge sum of 1.76 lakh crore Indian rupees from the Reserve Bank of India to hide a serious economic slowdown. According to the Congress party’s […]Continue Reading

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Surgical strike on black money: Govt withdraws 500, 1000 Rs notes

Unique Times November 9, 2016 0

    In what could be termed as a surgical strike on black money, the Indian government last day had scrapped 500 and 1000 rupee banknotes.As per the report, the surprise move is aimed at reducing the circulation of fake notes. The report added that the move would help the Indian economy to grab an […]Continue Reading