Search results
Results from the WOW.Com Content Network
The Government of India, in consultation with RBI, notified the 'Inflation Target' in the Gazette of India Extraordinary dated 5 August 2016 for the period beginning from the date of publication of the notification and ending on 31 March 2021 as 4%. At the same time, lower and upper tolerance levels were notified to be 2% and 6% respectively.
Reserve Bank of India, abbreviated as RBI, is the central bank of India, and regulatory body responsible for regulation of the Indian banking system and Indian currency. Owned by the Ministry of Finance, Government of India, it is responsible for the control, issue, and maintenance of the supply of the Indian rupee. It also manages the country ...
[29] [30] [31] On 27 October 2016, the Hindi daily Dainik Jagran published a report quoting RBI sources speaking of the forthcoming of ₹2,000 banknotes alongside withdrawal of ₹500 and ₹1,000 banknotes. [32] [33] On 21 October 2016, The Hindu Business Line had also covered a story on demands to withdraw the banknotes to prevent hoarding ...
Narasimham was a RBI research officer who served as an additional Secretary to the Department of Economic Affairs prior to becoming the governor. 14 I. G. Patel: 1 December 1977 — 15 September 1982 4 years, 288 days Patel was an economist who served as a secretary in the Ministry of Finance prior to becoming the governor.
This was the highest currency note printed by RBI that was in active circulation, ever since the 1,000 rupee note was demonetised in November 2016. [3] [4] [5] Before the official announcement by RBI, the media reported that ₹2000 notes had been printed from the currency printing press in Mysuru by the end of October 2016. [6]
The committee suggested a five-member MPC - three members from the RBI and two nominated by the government. [5] The government initially proposed a seven-member committee [6] - three from the RBI and four nominated by it. Subsequent negotiations led to the current composition of the committee, with the external members having a four-year term.
Each participating bank will test e₹-R among 10,000 to 50,000 people. RBI will collaborate with PayNearby and Bankit to integrate CBDC as payment option while National Payments Corporation of India (NPCI) will manage the backend infrastructure. [50] RBI will also undertake cross border transactions using Digital Rupee during the pilot project ...
Based on the latest assessment of the Economy of India for the financial year 2010–11, the EAC has highlighted the following: [22] Economic growth projected at 8.6% for FY2010-11 and 9% for FY2011-12; Inflation estimated to be at 7% by March-end; Agriculture sector projected to grow 5.4% in 2010-11