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Savings account limit exceeded: Know the tax implications

Savings account limit exceeded: Know the tax implications

Although digital payments have gained popularity everywhere in India, savings bank accounts have become a common way of holding money. Most individuals do not know that crossing a particular monetary threshold in their accounts can attract a check from the tax department, which can lead to hefty penalties as savings account limit exceeded. Savings account […]

BharatPe Secures RBI License for Online Payment Aggregation

BharatPe Secures RBI License for Online Payment Aggregation

The RBI has granted BharatPe Group company Resilient Payments full authorization to function as an online payment aggregator. According to a BharatPe release, the authorization would enable Resilient to support a range of payment-related services, including transactions via its own payment gateway. The Reserve Bank of India (RBI) has granted Resilient Payments Pvt Ltd, a […]

RBI Lowers Growth Forecast to 6.5% Amid Tariff Tensions

RBI Lowers Growth Forecast to 6.5% Amid Tariff Tensions

During the policy announcement on Wednesday, Reserve Bank of India (RBI) Governor Sanjay Malhotra emphasized that India’s real GDP is revised downward to increase at 6.5 percent in the current fiscal year 2025–2026 from an earlier expectation of 6.7%. The Governor emphasized that the Ministry of Statistics and Programme Implementation (MOSPI) issued data showing a […]

RBI to Announce Key Monetary Policy Decision Today at 10 AM

RBI to Announce Key Monetary Policy Decision Today at 10 AM

RBI’s Monetary Policy: On Wednesday, the Monetary Policy Committee (MPC) of the Reserve Bank of India is scheduled to make its announcement regarding the policy rates. At 10:00 AM, RBI Governor Sanjay Malhotra will deliver the Monetary Policy Statement. At noon, the governor will respond to questions from the media and explain the committee’s reasoning […]

RBI to Announce Repo Rate Cut Tomorrow: What to Expect

RBI to Announce Repo Rate Cut Tomorrow: What to Expect

The meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) will end tomorrow. On the last day of this three-day meeting on April 9 at 10 am, RBI Governor Sanjay Malhotra will announce the decisions taken in the meeting. It is believed that RBI can cut the repo rate this […]

Poonam Gupta Appointed as RBI’s New Deputy Governor

Poonam Gupta Appointed as RBI’s New Deputy Governor

Former World Bank economist Poonam Gupta was appointed deputy governor of the Reserve Bank of India. She is going to occupy a crucial role at the central bank during a period of monetary policy easing. Poonam Gupta, a veteran economist for the World Bank and International Monetary Fund. She was named a Deputy Governor at […]

RBI Official Statement: IndusInd Bank’s Financial Health Report

RBI Official Statement: IndusInd Bank’s Financial Health Report

In the latest news, RBI has officially released a statement about IndusInd Bank’s Financial Health. The speculations around the stability of Induslnd Bank’s financial health started due to the Rs. 1600 crore impact from a past currency derivative transaction that would potentially impact the bank’s net worth around 2.34%. (A currency derivative transaction is a […]

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