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Reserve Bank of India (RBI) on Thursday directed all payment system operators in India to store data within the country.

Business

Expert views on RBI policy rate hike

The reverse repo rate was also raised by 25 basis points to 6.00 per cent.

6 Jun 2018 3:24 PM IST

India has the potential to innovate on the lines of Silicon Valley but it needs to do more for expanding the innovation ecosystem as it aspires to become a middle income country, World Bank India head Junaid Kamal Ahmad said today.

Business

World Bank forecasts 7.3 per cent growth for India

India's growth potential is about 7 per cent, and it is currently growing at a pace above its potential.

6 Jun 2018 3:05 PM IST

Domestic investors were reluctant to expand their portfolios ahead of the RBIs monetary policy review, brokers said.

Business

After four and a half yrs, RBI hikes repo rate by 25 basis points to...

RBI has increased the reverse repo rate -- the rate at which RBI borrows from commercial banks -- to 6 per cent.

6 Jun 2018 2:40 PM IST

IDFC Bank on Wednesday said it has received RBIs approval for merger of Capital First, Capital First Home Finance and Capital First Securities with the company.

Business

IDFC Bank and Capital First get RBI nod for merger

Earlier in January, the company said its board of directors has approved amalgamation of the three entities with IDFC...

6 Jun 2018 11:51 AM IST

Prime Minister Narendra Modi said, Ujjwala Yojana has strengthened the lives of the poor, marginalised, Dalits, Tribal communities. (Photo: Screengrab/narendramodi.in)

Business

Govt has eased norms, provided funds to promote startups: PM Modi

Adequate capital, courage and connecting with people are required for excelling in the startup sector.

6 Jun 2018 11:10 AM IST

Business

Finance Ministry raps central tax officers for poor GST show

After registering highest GST collections of Rs 1,03,458 cr in April, revenue has fallen to Rs 94,016 cr in May.

6 Jun 2018 9:29 AM IST

$With multiple agencies probing the alleged Rs 13,000-crore fraud at state-run Punjab National Bank, the Reserve Bank of India (RBI) says it has conducted its scrutiny and the matter is currently under examination for \enforcement action\.$ Business

RBI to announce second bi-monthly Monetary Policy of 2018-19 today

The last rate hike was announced by RBI in January 2014 when the repo rate was increased to 8 per cent.

6 Jun 2018 8:52 AM IST

Police insist that banks get details of each customer verified by a permanent employee of the bank, and that the entire process gets linked with the Aadhaar card. (Representational Image)

Business

Banks gross NPA may peak at around 11.5 per cent this fiscal: Crisil

The rating agency expects gross NPAs in the banking system to peak at around 11.5 per cent of advances this fiscal and...

6 Jun 2018 1:04 AM IST

Traders and sellers in the city who usually offer huge discount on products have suddenly stopped offering it in the name of Goods and Services Tax (GST).

Business

Govt planning to revamp GST AAR mechanism

The AARs in different states have so far passed about 60 orders under the GST law.

5 Jun 2018 5:14 PM IST

Business

Banks gross NPA may peak at around 11.5 per cent this fiscal: Crisil

In FY18, the banking system reported a net loss of Rs 40,000 crore because of the sharp rise in NPAs.

5 Jun 2018 3:51 PM IST

RBI Governor Urjit Patel, will announce the resolution of the MPC on its first bi-monthly monetary policy for financial year 2018-19 later in the day.

Business

RBI's interest setting panel continues deliberations for 2nd day

Retail inflation, a key data for RBI, has remained above 4 per cent since November 2017.

5 Jun 2018 3:22 PM IST

Indian services sector activity returned to its growth track in March, driven by greater inflows of new work.

Business

India services PMI contracts in May; falls to 3-month low

Nikkei India Services Business Activity Index fell to 49.6 in May from 51.4 in April.

5 Jun 2018 12:19 PM IST