Tag: RBI
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RBI sanctioned a historic dividend of Rs 2.11 lakh crore to the government for the financial year 2024 !
The Reserve Bank of India (RBI) sanctioned a dividend of almost Rs 2.11 lakh crore for the central government for the fiscal year 2024, showing an almost 140% surge from the previous fiscal year. In FY23, the RBI had allocated Rs 87,416 crore to the Centre as surplus. At the 608th Meeting of the Central…
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RBI Maintains Status Quo on Key Lending Rate Amid Inflation Convergence with Targets
The Reserve Bank of India (RBI) decided to maintain its key lending rate at 6.5% for the seventh consecutive time during the bi-monthly Monetary Policy Committee (MPC) meeting held in New Delhi. RBI Governor Shaktikanta Das announced that the decision was made by a 5:1 majority. With the repo rate unchanged, it is expected that…
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Paytm explained regarding the RBI order, outlining the impact on Paytm Users both presently & after Feb 29th.
Paytm has issued a response to the recent directive from the Reserve Bank of India, which entails a set of limitations on the company’s diverse range of services. This directive will have an impact on Paytm Wallets, Paytm FASTags, fund transfers, and other associated functionalities. Let us now explore the implications of these restrictions on…
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Paytm’s shares experience a decline following the regulatory action taken by the RBI against the payments bank !
On Thursday, Paytm witnessed a significant decline in its market value as it was instructed by the RBI to cease its operations at Paytm Payments Bank. This resulted in a loss of one-fifth of its market value. New Delhi: Paytm, a digital payments company, experienced a significant decline in its market value on Thursday following…
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“The RBI’s Impact on Paytm’s Banking Operations”
Following an order from the RBI, Paytm Payments Bank is required to discontinue the acceptance of fresh deposits in its accounts or popular wallets starting from February 29, 2024. New Delhi: Paytm Payments Bank has been directed by the Reserve Bank of India (RBI) to cease accepting fresh deposits in its accounts or popular wallets…
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RBI increased the UPI Transaction limit for Hospitals and Educational Institutions to ₹5 lakh.
In his latest monetary policy statement, RBI Governor Shaktikanta Das brought joy to consumers by announcing an increase in the UPI limit for specific transactions. The limit for payments made to hospitals and educational institutions through UPI apps has been raised from Rs 1 lakh to Rs 5 lakh per transaction. This enhancement enables individuals…