Tag Archives: RBI

RBI May Reduce Rates, Hope Builders

While the nation reels under the impact of non-availability of exchange posed by demonetisation, especially in terms of exchanging the old Rs. 500 and Rs. 1000 notes for new ones, home seekers might just end up with positive gains from the scenario, hope builders, despite being wary of removal of black money. “It looks like being ‘advantage home buyer’ on ...

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There’s Enough Cash with RBI, Says Govt; Exempts Court Fee, Co-op Store Purchases, Toll Plazas

Following hue and cry over the shortage of new currency in banks and ATMs, the government said on Friday that the payment of old and demonetised notes will be allowed now even in court fee, consumer cooperative stores with ID proof, utility bill payment, and toll plazas. While cancelling the legal tender character of the existing series of high denomination ...

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Ujjivan May Get Rs.260 Cr ($40 Mln) from IFC in 2 Days

Bangalore-based Ujjivan Financial Services may get a debt investment from the World Bank arm International Finance Corporation (IFC) to the tune of US$40 million (Rs.260 Crore) that may be announced after its Board meeting on Thursday. IFC’ debt support was an on-going infusion of funds into the microfinance company with which Ujjivan is expected to stabilize growth and manage liability ...

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Why Microfinance Sector is Galloping in Numbers and Reach?

The news story in Mint  suggested alarm bells over the rapid growth of microfinance industry in the last three years, not taking into consideration the vital impact of technology on widening the client base and serving them instantly. The rapid IT modernisation has yielded in higher operational efficiency and doubling the number of customers served by each field officer, compared ...

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BREXIT: India to Benefit But 2 Years Later

Now that the UK has done what was expected in the last one decade, exiting from the European Union, despite a brave face put up by the Indian government and analysts, the gloomy picture is looming large on the share market that plunged by more than 1,000 points in a single day. The government’s reaction is stereotypic that the economy ...

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RBI Ropes in Foreign Firms to Make Rs.1000, Rs.500 Notes More Secure

With numerous instances of fake currency in India, the RBI has decided to introduce a new numbering system with 7 new secure features inserted in Rs.1,000 and Rs.500 currency notes from now onwards, while the fake currency notes in other denominations will be tackled in the next phase. The Reserve Bank of India’s Bhartiya Note Mudran Pvt Ltd (BRBNMPL) and ...

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