Rupee falls 14 paise to 64.52 as RBI keeps rates unchanged, raises inflation forecast

Rupee falls 14 paise to 64.52 as RBI keeps rates unchanged, raises inflation forecast

The rupee weakened further by 14 paise to close at 64.52 against the US dollar after the Reserve Bank decided to keep rates unchanged and raised the inflation forecast on Wednesday. Besides, heavy capital outflows in anticipation of rate hike...
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RBI Says Linking Aadhaar Number To Bank Accounts Mandatory

RBI Says Linking Aadhaar Number To Bank Accounts Mandatory

Mumbai: The Reserve Bank of India (RBI) on Saturday dismissed media reports that it was not necessary to link national identity card numbers, known as Aadhaar numbers, to bank accounts. It said in a statement the requirement remained in force...
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Stimulus, farm waiver to push up fiscal deficit by 1%: RBI

Stimulus, farm waiver to push up fiscal deficit by 1%: RBI

Cutting its growth estimate for the current fiscal, the RBI warned on Wednesday that any economic stimulus and farm debt waivers could push up fiscal deficit by 1 percentage point, potentially stoking inflation. Such measure could lead to inflation surging...
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Demonetisation: RBI says 99% of banned Rs 500, Rs 1000 notes returned after PM Modi’s surprise move

Demonetisation: RBI says 99% of banned Rs 500, Rs 1000 notes returned after PM Modi’s surprise move

Indians returned almost all of the estimated Rs 15.4 lakh crore -15.5 lakh crore in high-currency bills removed from circulation in a shock move late last year, the Reserve Bank of India said in its annual report out on Wednesday....
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Demonetisation: RBI says 7.62 lakh pieces of fake notes detected in FY17

Demonetisation: RBI says 7.62 lakh pieces of fake notes detected in FY17

As many as 7,62,072 pieces of counterfeit notes were detected in the banking system last fiscal, a 20.4% increase over the previous year, the Reserve Bank said on Wednesday. During 2015-16, 6.32 lakh pieces of fake currency notes had been...
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NPA crisis: RBI deputy governor blames forbearance schemes for bad loan mess

NPA crisis: RBI deputy governor blames forbearance schemes for bad loan mess

The Reserve Bank of India (RBI) deputy governor Viral Acharya on Wednesday conceded that the Central bank’s “forbearance schemes” were partly to blame for the bad loan mess, and suggested a counter-cyclical approach to avoid its repeat in future. Stati...
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