India's foreign exchange reserves are near-record high after they rose for the fourth straight week. The Reserve Bank of India's data shows that Forex reserves have hit 642.49 billion dollars.

Foreign exchange reserves hit $642.49 billion

The RBI bulletin notes that underlying fundamentals indicate that 8% or higher growth can be sustained and even built upon. But economic growth is likely to face a tough challenge from higher food prices, which could delay any easing of interest rates. Watch in for more details!

RBI's monthly bulletin gives a thumbs up to India's growth story

In a recent report by the Reserve Bank of India (RBI), the country's economic prospects have been painted with a bright hue, forecasting sustained GDP growth of 8 per cent.

RBI foresees 8 pc growth amid global slowdown, signals shifts in consumer demand

The Indian digital payments giant Paytm has secured a crucial lifeline the National Payments Corporation of India has granted Paytm a third-party application provider license. Well, this means that Paytm users can breathe a sigh of relief.

Paytm users can still use the app after banking the shutdown

The Reserve Bank of India (RBI) has asked Paytm Payments Bank to wind down its operations. In January 2024, the central bank ordered the Paytm Payments Bank, an associate of Paytm, to halt taking any fresh deposits in its account or wallet from February 29.

Paytm FASTag recharge will not be available after March 15. Here's a list of authorised banks

Cross border trade between India and Indonesia will now be much easier and much faster. The Reserve Bank of India and the bank Indonesia have signed a memorandum of understanding to establish a framework to promote the use of local currencies. The Indian rupee and the Indonesian rupiah for cross border transactions. Watch to know more!

India-Indonesia sign MoU, boosting trade & investment for both countries

In a move towards strengthening economic integration, the Reserve Bank of India (RBI) and Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) on Thursday, to establish a framework promoting the use of local currencies for cross-border transactions.

RBI and Bank Indonesia ink pact to boost bilateral trade using local currencies

The Reserve Bank of India governor, Shaktikanta Das, raised India's economic growth forecast for 2024, citing strong performances in manufacturing, construction, and rural demand. He expects the economy to grow close to 8% this year, exceeding previous estimates.

RBI Governor buoyant on India's growth

The Reserve Bank of India governor, Shaktikanta Das, raised India's economic growth forecast for 2024, citing strong performances in manufacturing, construction, and rural demand. He expects the economy to grow close to 8% this year, exceeding previous estimates. The governor also reiterated the RBI's commitment to controlling inflation despite ongoing geopolitical and weather uncertainties.

RBI Governor: India's growth forecast revised upward nears 8% this year

Digital payments in India have recorded a 90-fold increase in the last 12 years, Reserve Bank of India governor Shaktikanta Das said on Monday. He said that India accounts for nearly 46 per cent of the world’s digital transactions, adding that this is reflected in the Reserve Bank's Digital Payment Index, which has seen a four-fold rise in the last five years.

RBI Governor Shaktikanta Das hails UPI. Here's what he said

Paytm and its banking unit undergo major changes to comply with RBI's directives, impacting leadership and operational dynamics. The move aims to regain investor and regulatory confidence. Watch in for more details!

Paytm cuts ties with payments bank unit amid RBI regulatory crackdown

The Reserve Bank of India is taking a significant step towards enhancing transparency in the financial sector. In a bid to address the looming threat of climate change, the RBI has called upon lenders to disclose more structured information about their climate-related financial risks.

Reserve Bank of India mandates climate risk disclosure for financial institutions

In a bid to enhance regulatory alignment and spur innovation in the fintech sector, Indian Finance Minister, Nirmala Sitharaman, has proposed monthly virtual meetings between federal regulators, including the Reserve Bank of India (RBI), and startup and fintech companies.

India’s finance minister initiates monthly RBI meetings with fintech firms to foster regulatory compliance

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. India evaluates $21 bn semiconductor proposals to boost chip manufacturing industry The Indian government is reviewing proposals totalling $21 billion in investments aimed at fostering chip manufacturing within the country.

WION Business Wrap | India’s semiconductor proposal, Expedia’s restructuring and more

Paytm founder and CEO Vijay Shekhar Sharma has stepped down as the chairman of Paytm Payments Bank, according to an exchange filing, on Monday (Feb 26). This comes as the embattled company overhauled its board in the wake of a clampdown by India’s central bank – the Reserve Bank of India (RBI).

Paytm CEO Vijay Shekhar Sharma steps down from payments bank board amid crisis

India's central bank has asked the country's payments authority to examine digital payments firm Paytm's request to become a third-party payment app. If the request is approved, Paytm could continue processing payments via India's popular unified payments interface or UPI.

Decoding Paytm's latest request to RBI

India’s Reserve Bank (RBI) has ramped up scrutiny of fintech companies, signalling an end to lenient regulation of this pivotal industry. Following regular inspections in the past year, it was revealed that several fintech firms exhibited leniency in areas such as customer due diligence, prompting the RBI to take decisive action.

India’s central bank intensifies oversight of fintech sector through rigorous inspections

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Intel unveils ambitious plans to overtake TSMC with advanced chip manufacturing technologies At a technology conference in San Jose, California, Intel announced its ambitious plans to regain dominance in the semiconductor industry by surpassing its main competitor, Taiwan Semiconductor Manufacturing Co (TSMC).

WION Business Wrap | Intel’s plan to overtake TSMC, Struggles of US natural gas producers and more

The Reserve Bank of India (RBI) has released its February bulletin, painting a picture of stabilising inflation and promising economic prospects for India in 2024.

India's inflation prospects stabilise, economy poised for growth: RBI Bulletin

Amid regulatory challenges and uncertainties, Paytm's CEO, Vijay Shekhar Sharma, reaffirmed the continuity of the company's QR code and Soundbox services beyond March 15, providing reassurance to users amidst ongoing concerns.

Paytm assures users: QR Code, Soundbox to remain operational amid regulatory scrutiny

India's road tolling authority has excluded Paytm Payments Bank from its list of 32 authorised banks for purchasing FASTags, signalling significant changes for the estimated 20 million Paytm FASTag users.

Paytm Payments Bank excluded from authorised banks list for FASTags: Report

India retail inflation is at a 3-month low. In January, retail inflation rate dropped to 5.10%, down from 5.69% in December. This figure is in line with the 5.09% forecast by economists.

India's inflation eases to 3-month low

Indian central bank, the Reserve Bank of India (RBI), has asked banks in the country to ditch the traditional SMS-based second-factor authentication system and seek safer, advanced alternatives.

India: RBI asks banks to stop relying on OTP-based authentication, look for safer alternatives

Persistent non-compliance by Paytm with the regulatory guidelines despite nudges over a period of time ultimately led to the stern action against the fintech, the RBI said on Thursday and also made it clear that there are no systemic worries.

Persistent non-compliance led to Paytm action, no systemic worries: RBI

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