RBI

Banking

RBI Decides To Keep Repo Rate Unchanged At 6.5 Per Cent

Opportunity India Desk Apr 06 2023 - 6 min read

The Reserve Bank of India (RBI) on Thursday announced the bimonthly monetary policy and decided to keep the repo rate unchanged, RBI governor Shaktikanta Das said after the monetary policy committee meeting. The repo rate is at 6.5 per cent with 'readiness to act should the situation so warrant', Das said. “We are witnessing unprecedented ...

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Economy

RBI Increases Repo Rate By 25bps, EMIs Likely To Go Up

Opportunity India Desk Feb 08 2023 - 4 min read

The Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday announced the increase in the repo rate by 25 basis points (bps) to 6.50 per cent after the three-day Monetary Policy Committee Meeting. The central bank had raised 35 bps. The RBI has increased the rate by 250 basis points since May last year ...

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Banking

IDFC Bank, Sa-Dhan and NextGen collaborate to Offer Financial Solutions for Feature Phone Users

Opportunity India Desk Dec 07 2022 - 3 min read

Leading private sector lender IDFC First Bank has joined hands with Micro Finance Institution’s association, Sa-Dhan and fintech solutions provider NextGen, in to bring digital micro finance solutions to millions of feature phone users in the country users, which is around 45 percent of the mobile phone using population and about 94 million beneficiaries under ...

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Banking

RBI Cancels CoRs of Eight NBFCs

Opportunity India Desk Oct 13 2022 - 3 min read

The Reserve Bank of India (RBI) has cancelled four non-banking finance companies’ (NBFCs) certificates of registration (CoR) while four other NBFCs surrendered their CoRs to the central bank. Also, market regulator Securities and Exchange Board of India (SEBI) has also cancelled the certificate of registration of Brickwork Ratings India Pvt Ltd. The four NBFCs whose ...

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Banking

RBI Announces 50 bps Hike In Repo Rate

Opportunity India Desk Sep 30 2022 - 2 min read

In order to contain the rising inflation in India, the Reserve Bank of India (RBI) has announced a 50 basis points hike in the repo rate. Repo is the rate at which the central bank lends short-term funds to banks. One bps is one-hundredth of a percentage point. With the latest rate hike, the repo ...

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