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The Reserve Bank of India (RBI) has announced the withdrawal of ₹2000 denomination banknotes from circulation, while reassuring the public that they will remain legal tender. This decision comes after the demonetisation of ₹1000 and ₹500 banknotes six-and-a-half years ago. Notably, the move follows the recent state assembly elections in Karnataka, won by the Congress […]
The Reserve Bank’s decision to hike key policy rates will impact the growth of real estate industry and may hit the housing demand, according to industry players. The Reserve Bank of India (RBI) on Wednesday hiked the benchmark lending rate by 40 basis points (bps) to 4.40 per cent to contain inflation. It also raised […]
The Reserve Bank of India has imposed a penalty of Rs 1 Crore each on payment system operators One Mobikwik Systems Private Limited and Spice Money Limited for deficiencies in regulatory compliance. The central bank, in a press note, said it noticed that the two companies had not complied with the directions issued by it […]