The second bi-monthly Monetary Policy Statement of the current fiscal projects the GDP growth rate at 6.4-6.7 per cent till September but expects it to pick up pace to as much as 7.5 per cent in the second half of the fiscal

Such defiance is unprecedented. But FinMin and the RBI are playing wink-wink in the name of  institutional independence. Hey, haven't we heard that before!

The Resere Bank of India (RBI) took the decision to set up the committee in view of persistent demands to change the ATM charges and fees.

MPC meet: RBI has also announced the setting up of a committee to examine the entire gamut of ATM charges and fees. The committee will be under the chairmanship of CEO Indian Banks' Association (IBA).

The repo rate cut coupled with the MPC's decision to change the policy stance to accommodative means that those shopping around for home loans, car loans et al may land a cheaper deal soon

Share Market Update: All the sectoral indices closed on the red, with major declines seen in PSU Bank, which was down by almost 5.20 % and PVT bank down at 2%, followed by other major indices like Pharma, Realty, Media and Metal, each declining over 1%. 

The latest data released by the National Payments Corporation of India (NPCI) shows that the number of Unified Payment Interface (UPI) transactions has fallen to 733.54 million in May 2019 from 781.79 million in the previous month, but their value shot up 7 per cent in the same period

The Reserve Bank of India has extended the timings for customer transactions through Real Time Gross Settlement (RTGS) from 4:30 pm to 6:00 pm.

Aiming at a 'cash-lite' society, the RBI last week released the vision document for ensuring a safe, secure, convenient, quick and affordable e-payment system as it expects the number of digital transactions to increase

The RBI's latest vision document for payment and settlement systems, which outlines the road map for 2019 to 2021, aims to achieve a cash-lite society . To that end it proposes to examine round-the-clock availability of various payment systems, including NEFT

The RBI said the payment systems landscape will continue to change with further innovation and entry of more players which is expected to ensure optimal cost to the customers and freer access to multiple payment system options

The banking ombudsman (BO) has faced some peculiar complaints with regards to banking services like credit cards, ATM transactions, savings account and electronic transactions. Here are some of the cases in which the banks were hauled up

Tax offices, for both income tax and GST, will remain open on Saturday and Sunday as the departments race against time to meet the revenue collection targets.