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RBI directs Kotak Mahindra Bank to halt new customer onboarding and credit card issuance due to IT concerns found in the 2022-2023 examinations. The bank's failure to address issues led to service outages, prompting RBI intervention to ensure customer protection and system reliability.

In an interview, former RBI governor Raghuram Rajan said, "I want to know what will we do after becoming superpower. What is our plan? There is no issue in becoming one. Will we promote global peace or will we show our strength on others."

Ram Navami 2024: The Reserve Bank of India publishes list of bank holidays on its official website. According to the official bank holiday calendar of the RBI, both public and private sector banks will remain closed on Wednesday, April 17, in observance of Ram Navami. 

Leading Hair Transplant Surgeon Dr. Hari Kiran Chekuri nearly saved himself from being cheated by fake FedEx agents and fraud people identifying themselves as top-ranking officials from the RBI and police department. 

The Policy Repo Rate remains unchanged at 6.5%. RBI Governor Shaktikanta Das announced this decision following the two-day review meeting of the MPC, which commenced on April 3 and concluded on April 5. The decision was made with a 5:1 majority vote by the MPC

These rules aim to curb the practice of banks and finance companies imposing additional fees on borrowers for late payments or breaches of loan terms. Under the new directives, banks are prohibited from charging penal interest on late Equated Monthly Installment (EMI) payments and from adding extra charges to the interest rate.

Emblazoned with the iconic RBI emblem at its center, the coin bears the inscription "RBI@90" below, symbolizing the institution's enduring contribution to India's financial resilience.

DIGITA would verify and maintain a public register of authorized digital lending apps, aiding law enforcement efforts. Additionally, Google has removed over 2,200 digital lending apps from its PlayStore, aligning with RBI's policy changes to combat fraudulent practices.

The RBI last year announced that the Rs 2,000 bank notes were to be discontinued from circulation, and urged the public to deposit them in banks or exchange them.  As of February 29, the RBI said that approximately 97.62% of the Rs 2,000 currency notes have been returned to the banking system. 

Banks nationwide will remain open on Sunday, March 31, as per RBI's directive for fiscal year closure. NEFT and RTGS transactions will run until midnight. Government transactions including pensions, savings schemes, and Relief Bonds will be processed. Commercial banks act as agents for RBI, aiding in government banking needs. Central Accounts Division in Nagpur manages government accounts efficiently.

The RBI also revealed that India's net Foreign Direct Investment (FDI) inflow during April-December 2023 was notably lower at $8.5 billion compared to $21.6 billion in the same period of the previous year.

Rajan cautioned against embracing exaggerated narratives of India's economic prowess prematurely. He highlighted the necessity for sustained efforts to bridge the gap between rhetoric and reality, emphasizing the imperative for India to focus on substantive progress rather than superficial acclaim.

NHAI has advised Paytm FASTag users to obtain a new FASTag issued by another bank before March 15, 2024, to prevent penalties or double fee charges at toll plazas. This action aligns with RBI guidelines restricting transactions through Paytm Payments Bank after the specified date.

The Reserve Bank of India (RBI) and the Bank Indonesia (BI) have signed a Memorandum of Understanding (MoU) to establish a framework promoting the use of local currencies, the Indian Rupee (INR) and the Indonesian Rupiah (IDR), for cross-border transactions

The Reserve Bank of India has instructed credit card issuers to refrain from entering into agreements that limit customers' access to services provided by other card networks. This directive aims to enhance consumer choice and competition in the credit card industry