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Delhi based global telecommunication service provider, Bharti Airtel recently got approval from the Department of Telecommunications (DoT) to increase the Foreign Direct Investment (FDI) limit up to 100% of the paid-up capital from the earlier limit of 49%. The company already received permission from the Reserve Bank of India(RBI) for overseas portfolio investors to invest ..
The Reserve Bank of India (RBI) recently canceled the Certificate of Authorisation (CoA) of Vodafone M-Pesa after it voluntarily surrendered its authorization. RBI authorizes the Payment System Operator to set up and operate in India under the Payment and Settlement Systems Act, 2007. The absence of long term business led to continuing losses was the ..
On Wednesday, 8th January 2020, the Washington D.C based international financial institution, World Bank has lowered India’s growth rate to 5 percent for the Financial Year (FY) 2019-2020 from the earlier projected growth rate of 6 percent, following the projection of 5 percent growth rate by both the India’s central bank- the Reserve Bank of ..
India’s central bank, Reserve Bank of India(RBI) has launched a mobile app named ‘MANI’ on Wednesday, 1st January 2019 that will help in identifying the denomination of currency notes for the visually challenged persons. MANI stands for Mobile Aided Note Identifier is available for download from Google Play Store and Apple app store- iOS operating ..
The regulator of the entire banking system in India, the Reserve Bank of India (RBI) has introduced a new semi-closed type payment instrument system under the Prepaid Payment Instruments (PPIs). Earlier this month, on the 5th of December, the Reserve Bank of India has issued the fifth Bi-monthly monetary policy statement, in which the RBI ..
The Reserve Bank of India (RBI) under the open market operations has announced a simultaneous sale and purchase of the government bonds. This will be the first time in the country that the government bonds will be on simultaneous sale and purchase, the entire mechanism will be in line with an operation adopted by the ..
India’s foreign exchange reserves have crossed the USD 450 billion mark for the first time on 3rd December 2019. The Reserve Bank of India Governor, Shaktikant Das in a press conference informed that the foreign exchange reserves hit a new high on 3rd December 2019 were at USD 451.7 billion. This financial year the foreign ..
The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) headed by the Governor of RBI, Shaktikant Das, voted unanimously to keep the policy rate unchanged and announced the 5th bi-monthly monetary policy of 2019-20 on Thursday, 5th December 2019. Highlights from the 5th bi-monthly monetary policy: The earlier projected GDP growth ..