The private sector bank offers special interest rate of 7.20 percent on a tenure of 35 months and 7.25 per cent of 55 months. The new rates will come into effect from Feb 9 i.e., Friday.
The digital currency is primed for launch, with the pilot project under way. On July 11, 2023, RBI Deputy Governor T. Rabi Sankar in his speech at Moneycontrol Startup Conclave touched upon the possibilities that can bring innovation and efficiency in CBDC.
According to Vivek Joshi, secretary of the finance ministry s Department of Financial Services, Paytm must resolve the regulatory problems faced by its payments bank with the Reserve Bank of India.
RBI MPC Meeting 2024 Live Updates: RBI Governor Shaktikanta Das has announced MPC’s 5-1 decision to keep interest rates steady at 6.5 per cent. Das said that inflation is moving closer to the RBI’s target but yet to reach the 4 per cent mark. RBI has kept standing deposit facility rate steady at 6.25%
RBI has projected real growth at 7 per cent and inflation at 4.5 per cent for next fiscal. This is higher than the govt’s nominal growth assumption of 10.5 per cent in the interim budget.