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The Reserve Bank of India (RBI) was established on April 1 1935 and is the country’s central bank that is responsible for creating financial stability and regulating the country’s currency and credit systems. RBI was established under the Reserve Bank of India Act. It is responsible for regulating the Indian banking system and also managing the country’s main payment systems. Under a specialized division of the RBI- Bharatiya Reserve Bank Note Mudran- it also mints Indian banknotes and coins. Under the Foreign Exchange Management Act 1999, the RBI also manages all the foreign exchange. It facilitates external trade and payments to promote the development of the foreign exchange market in India. Until the Monetary Policy Committee was established in 2016, it also had full control over monetary policy in the country. A 23 member central board of directors are heading the RBI. This includes the governor, four deputy governors, two finance ministry representatives (usually the Economic Affairs Secretary and the Financial Services Secretary), ten government nominated directors and four directors who represent local boards of Mumbai, Kolkata, Chennai and Delhi. Each of these local boards consists of five members who represent regional interests and the interests of co-operative and indigenous banks. More

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  • Exporters lobby RBI for weaker Rupee to offset US tariffs

    Exporters lobby RBI for weaker Rupee to offset US tariffs

    A weaker rupee rate for exporters would be risky for the central bank, though. It could damage broader sentiment toward the currency, which, in turn, could force the central bank to step up intervention in the foreign exchange market, causing a rapid erosion of India’s reserves.

  • Private capex likely to rise 21.5% to Rs 2.67 lakh crore in FY26: RBI article

    Private capex likely to rise 21.5% to Rs 2.67 lakh crore in FY26: RBI article

    The ability of firms to convert intentions into execution will be critical in shaping the next phase of India’s growth

  • Online gaming law: Payment companies seek sufficient time from MeitY and RBI for processing customer refunds, chargebacks

    Online gaming law: Payment companies seek sufficient time from MeitY and RBI for processing customer refunds, chargebacks

    During a meeting held on August 29, government officials also sought suggestions from the industry on the rules for the Promotion and Regulation of Online Gaming Act, 2025

  • Ganesh Chaturthi 2025 Bank Holiday: Will banks function on August 27? Check complete city-wise list

    Ganesh Chaturthi 2025 Bank Holiday: Will banks function on August 27? Check complete city-wise list

    August 2025 Bank Holidays: Banks are also closed on every 2nd and 4th Saturday, and every Sunday as regular weekly holidays.

  • Banks bet on 10-12% credit growth in H2FY26 amid festive season despite US tariffs uncertainty

    Banks bet on 10-12% credit growth in H2FY26 amid festive season despite US tariffs uncertainty

    According to the Reserve Bank of India (RBI) data, bank credit growth touched 10.22 percent year-on-year in the fortnight ended August 8, the fastest pace in over three months

  • Lenders told to step up checks on funds flowing indirectly from Pakistan

    Lenders told to step up checks on funds flowing indirectly from Pakistan

    Direct flows of funds from Pakistan to India are largely prohibited with every transaction requiring the central bank's approval

  • Technical factors contribute to wider spreads in longer dates G-Secs, what next?

    Technical factors contribute to wider spreads in longer dates G-Secs, what next?

    Rising long-end yields driven by elevated SDL issuance, subdued demand from long-term investors, and RBI's neutral stance, may moderate if growth slows or tenor adjustments are made

  • GST reform rollout: From consumer durable sales impact to a possible double bonanza | MC Editor's Picks

    GST reform rollout: From consumer durable sales impact to a possible double bonanza | MC Editor's Picks

    In this episode of Moneycontrol Editor’s Picks, we have a special focus on the GST reform rollout and its impact on consumer durables, the economy of lottery-dependent states, revenue collection, and the green signal it gives to the RBI to introduce another expected rate cut by the end of 2025.

  • RBI's 8.05% Floating-Rate Bond: A smarter alternative to bank FDs?

    RBI's 8.05% Floating-Rate Bond: A smarter alternative to bank FDs?

    Bank FD rates are falling, but the RBI's Floating Rate Savings Bond (FRSB) is currently yielding 8.05%—will it prove to be the smarter choice?

  • MeitY to relay IT industry's concerns on draft export-import rules to RBI

    MeitY to relay IT industry's concerns on draft export-import rules to RBI

    Exporters caution against added paperwork, want GST-based compliance system

  • Nasscom flags RBI draft export-import rules with MeitY, calls for simplified compliance for IT sector

    Nasscom flags RBI draft export-import rules with MeitY, calls for simplified compliance for IT sector

    At a meeting held on August 1, Nasscom flagged that the draft proposes a new Export Declaration Form (EDF) for services, including software, in place of the existing SOFTEX form. However, the industry fears the new EDF would only add extra paperwork.

  • No cut, one cut, or two? Economists split on RBI MPC’s next move

    No cut, one cut, or two? Economists split on RBI MPC’s next move

    With inflation at multi-year lows and global trade risks looming, economists are split on whether the RBI will resume rate cuts in October.

  • Analysts trim FY26 CPI forecast to 2.7% after July print, may undershoot RBI's estimate

    Analysts trim FY26 CPI forecast to 2.7% after July print, may undershoot RBI's estimate

    India’s retail inflation eased to 1.6 percent in July, the lowest in over eight years, prompting economists to cut FY26 CPI forecasts below the RBI’s estimate.

  • Not in regulatory domain of RBI: Governor Sanjay Malhotra on minimum balance for savings accounts

    Not in regulatory domain of RBI: Governor Sanjay Malhotra on minimum balance for savings accounts

    Public sector banks generally have lower balance requirements than private lenders, with Jan Dhan accounts exempt from such norms

  • Govt favours retaining current inflation targeting framework from FY27 for another 5 years

    Govt favours retaining current inflation targeting framework from FY27 for another 5 years

    This is because the weight of food in the CPI basket is likely to come down; therefore, the RBI may continue to target headline inflation, with a mandate of keeping the rate at 4 percent along with a tolerance band of 2 percentage points on either side. The current framework is valid until March 2026.

  • India’s Distressed Asset Market: Ready for growth

    India’s Distressed Asset Market: Ready for growth

    The IBC and new RBI frameworks are transforming India’s distressed asset market, improving transparency, recovery rates, and investor confidence, while regulatory reforms and strategic partnerships create growing opportunities for global private equity participation

  • Banks recommend new GST slab of Rs 1 crore to curb merchants ditching digital payments

    Banks recommend new GST slab of Rs 1 crore to curb merchants ditching digital payments

    DFS sought comments from banks, RBI and NPCI on the existing GST slab of Rs 40 lakh for shopkeepers, whether it should be raised, and by how much, sources said

  • Sovereign gold bonds due for premature redemption on August 11 delivered upto 20% CAGR

    Sovereign gold bonds due for premature redemption on August 11 delivered upto 20% CAGR

    The 2019-20 Series IX (issued in February 2020) and the 2020-21 Series V (issued in August 2020) will be redeemed at Rs 10,070 per gram

  • May engage with regulator to understand NOFHC requirement: Sanjay Agarwal, MD & CEO, AU Small Finance Bank

    May engage with regulator to understand NOFHC requirement: Sanjay Agarwal, MD & CEO, AU Small Finance Bank

    Speaking exclusively to Moneycontrol, Agarwal said he will approach the regulator soon to understand why the requirement to convert his stake into a non-operative finance holding company was imposed as a licensing condition.

  • Mint Road signals watchful pause

    Mint Road signals watchful pause

    In a world marked by uncertainty, anchoring expectations and a data-driven policy approach remain key to preserving macroeconomic stability

  • Keep calm and carry on is RBI’s message

    Keep calm and carry on is RBI’s message

    A calibrated approach while steering policies to bolster domestic growth and preparing to act if external shocks, especially tariffs, begin to weigh more heavily on recovery can be the most prudent way forward. RBI will thus remain data dependent, closely tracking the evolving developments, especially on external front

  • Average daily surplus liquidity under RBI’s LAF doubled to Rs 3 lakh crore in four months

    Average daily surplus liquidity under RBI’s LAF doubled to Rs 3 lakh crore in four months

    The sharp increase in the liquidity can be attributed to the durable liquidity infusion since start of this year by the RBI through various instruments such as open market operations (OMOs) purchases of governments securities and USD/INR buy-sell swap auctions.

  • No major inflation risk seen if Russian oil imports fall, says RBI Guv Sanjay Malhotra

    No major inflation risk seen if Russian oil imports fall, says RBI Guv Sanjay Malhotra

    Crude oil is a key factor in inflation, but impact depends on sourcing mix, global prices and government response, says Deputy Governor Poonam Gupta

  • Extended pause in RBI’s policy rate has likely started

    Extended pause in RBI’s policy rate has likely started

    With unchanged rates in this meeting, an extended pause is now underway. By the time the data starts showing a slowdown in quarterly GDP growth prints, inflation will likely have normalised to above 4%. This would surely constrain further monetary easing, going ahead 

  • RBI Governor clarifies UPI stance: Costs exist but who pays remains unclear

    RBI Governor clarifies UPI stance: Costs exist but who pays remains unclear

    RBI Governor Sanjay Malhotra clarified, "I never said UPI cannot be free forever. The question, I believe, was whether charges like MDR would be passed on to consumers. I responded by saying that there are costs involved."

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