RBI Advocates for direct Rupee-Dirham Settlements.
In a strategic move to bolster trade relations and reduce dependence on the US dollar, the Reserve Bank of India (RBI) is encouraging banks engaged with the United Arab Emirates (UAE) to explore direct settlements using the Indian rupee and the Emirati dirham. This initiative aims to streamline trade payments and enhance financial stability in […]
UPI Transactions Surge to ₹60 Trillion in 2024.
The digital payment landscape in India is witnessing an unprecedented transformation, with Unified Payments Interface (UPI) transactions soaring to new heights. According to recent reports from Pankaj Chaudhary ,Minister of State for Finance. UPI transactions for the first quarter of the fiscal year have jumped a remarkable 36% compared to the previous year, reaching an […]
RBI takes back all their restrictions on Bajaj Finance’s Insta EMI Card.
In a significant development for the lending sector, the Reserve Bank of India (RBI) has officially lifted restrictions on Bajaj Finance’s eCOM and Insta EMI Card services. This regulatory relief comes as a result of corrective actions implemented by Bajaj Finance following compliance issues flagged by the RBI in 2023. With the restrictions now removed, […]
Why is the Reserve Bank of India (RBI) asking banks/NBFCs to disclose loan fees upfront?
It is to significantly improve transparency in securing loans in the country that the Reserve Bank of India has recently asked banks/NBFCs to reveal complete information about the loan fees. Typically, by providing loan borrowers with a document called ‘Key Facts Statement’. As per the RBI, it should include all data on loan fees along […]
Why is now the best time for you to buy your ‘Dream Home using the cheapest home loan available?
It was decided during the Reserve Bank of India (RBI) Monetary Policy Committee (MPC) meeting held on April 5th, 2024 to keep the repo rate unchanged at 6.5%. This was done for the seventh consecutive time by India’s Central Bank. Similar to the US Fed, the RBI also decided to keep the repo rate unchanged. […]
Great News for homebuyers! As RR rates remain unchanged
The revenue department of Maharashtra has decided to keep the Ready Reckoner or RR rates unchanged for the new financial year beginning in April. A move that is set to boost the real estate and home-buying market. In the last year, the registration department has achieved the target RR revenue of Rs 50,000 crore by […]
Why has the US Fed decided to keep interest rates unchanged & how has it affected the Indian economy?
Why has the US Fed decided to keep interest rates unchanged & how has it affected the Indian economy?In an attempt to deal with ‘Elevated’ inflation in the American economy, the US Federal Reserve has decided to keep the interest rates unchanged. This decision was taken at a recent Central Bank of America meeting, which […]
Indian Central Bank RBI Decides to Hold Rates in Line with US Federal Bank
Indian Central Bank RBI Decides to Hold Rates in Line with US Federal Bank RBI is supposed to hold loan fees after its financial arrangement panel’s meet finishes up on Feb 8. The global rates moving down faster has eased after the US Fed signalled that rate cuts are unlikely in March and the UK […]
Home Loans show a change in value from affordable to higher value in Mumbai
There are indications that the growth in home loans in mumbai is moving from low-cost properties to higher-priced properties. From Rs 20.2 lakh in FY20 to Rs 24.7 lakh in FY23, the average size of home loans has grown by 22%. Home loan originations are shifting, both in terms of volume and value, from the […]
HDFC Becomes 1st Bank To Hit 2 Crore Credit Cards Achievement
HDFC has crossed the magical number of two crore credit cards in force, the company said in a statement. With 9.6 crore cards issued by banks overall, the private lender holds 21% market share, according to RBI data. According to the bank, as of March 31, 2023, its proportion of spending will be 28.6%. Among […]