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The Latest Breaking News from RBI

RBI move sparks race among banks to raise FCNR(B) deposit rates; smaller lenders offer over 7% on USD deposits

Banks are aggressively increasing interest rates on NRI dollar deposits. This move follows a special RBI dispensation to boost foreign currency inflows. Several lenders are now offering over 7 percent on US dollar FCNR(B) deposits. This initiative is expected to attract significant foreign currency into India. The competition among banks…

The Economic Times

ATMs hungry, but not for more cash

Many Indians face empty ATMs despite ample cash in circulation. This is due to serious disruptions in cash movement. UPI's rapid rise and increased operating costs weaken ATM operators. Banks are also changing withdrawal rules. The government is working on solutions like hybrid ATMs and post office ATMs to improve…

The Economic Times

Rupee drops to 95.76 vs USD on dollar demand from oil cos, nearly erases RBI-led gains

Thursday saw the Indian rupee slip against the U.S. dollar, negating earlier improvements that were supported by measures from the central bank. The currency's decline was influenced by ongoing demand from oil firms and soft indicators across Asia. Starting off weak, the rupee continued to face downward pressure throughout the…

The Economic Times

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Prabhudas Lilladher cuts Nifty target to 26,449, lists 16 high conviction stock picks

Amidst global market turmoil from the Iran-US war and El Nino, Prabhudas Lilladher lowered its Nifty 50 target to 26,449. The brokerage anticipates limited further downside but warns of sharp swings due to prolonged uncertainty. Rising geopolitical risks and import dependence are impacting India's economy, potentially curtailing consumption demand.

The Economic Times

378% return on SGB premature redemption date: This gold bond has turned Rs 1 lakh investment into Rs 4.78 lakh

The Reserve Bank of India has set the premature redemption price for Sovereign Gold Bond 2019-20 Series-I. Investors can redeem these bonds from June 11, 2026. The redemption price is fixed at Rs 15,038 per unit. This offers investors a significant return of approximately 378% on their initial investment.

The Economic Times

Canara Bank, Bank of Baroda increase lending rates: Why loan EMIs for these borrowers may rise

Bank of Baroda and Canara Bank have raised their lending rates. These changes are effective from June 12, 2026. Loans linked to these rates will become more expensive. This follows the Reserve Bank of India's decision to maintain the repo rate. HDFC Bank also adjusted its MCLR rates recently.

The Economic Times

India's economic growth rate to weaken at 6.6% in FY27 on slower investments, consumption: BMI

India's economic growth is expected to moderate to 6.6 percent in the current fiscal year. This slowdown follows a robust 7.7 percent growth in the previous year. Weaker investments and consumption are key factors. Trade disruptions from the West Asia crisis also pose challenges. The Reserve Bank of India's growth…

The Economic Times

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Contactless card payments on the rise as Indian shoppers swipe less, tap more

Indian shoppers are increasingly opting for contactless 'tap-and-pay' card transactions, with estimates suggesting they now account for up to a third of total card swipes. This trend is driven by younger consumers and a preference for speed, as contactless payment infrastructure expands across the country.

The Economic Times

RBI cancels registration certificates of 135 NBFCs

The Reserve Bank of India has cancelled the registration of 135 non-banking finance companies. Thirteen other companies have surrendered their licenses. These actions are due to various reasons including exiting the business or ceasing to be legal entities. Many of the cancelled companies were based in West Bengal. This move…

The Economic Times

RBI permits banks to lend only to SEBI-Registered REITs & InvITs; 80% cash-generating assets mandatory

The Reserve Bank of India has introduced new rules for bank loans to REITs and InvITs. All loans must be fully secured and repaid according to cash flows. Bullet or ballooning loan structures are now banned. These new directions will be effective from October 1, 2026. The move aims to…

The Economic Times

RBI's measures may attract USD 60-70 billion foreign capital, support rupee: India Ratings

New measures by the RBI and government aim to attract foreign capital. These steps are expected to bring in USD 60-70 billion. This influx will support the Indian rupee. Reforms also target increased foreign investor participation in government securities. These coordinated efforts strengthen India's financial standing and global market integration.

The Economic Times

Latest FCNR interest rates: HDFC Bank, SBI, ICICI Bank, PNB, Central Bank of India, BoB and more

Several Indian banks have updated their Foreign Currency Non-Resident Bank FCNR(B) interest rates. This comes after the government announced it would cover hedging costs for new 3 to 5 year FCNR(B) deposits. This initiative benefits Non-Resident Indians and others. Central Bank of India is offering a 6% interest rate on…

The Economic Times

Short-end Indian debt gains as RBI dollar measures spur buying

Short-term Indian government bond yields have dropped to their lowest in three months. This move steepens the yield curve significantly. Expectations are high that banks will invest funds from the RBI's dollar inflow measures into this segment. The Reserve Bank of India's steps to attract foreign currency deposits are expected…

The Economic Times

Indian 10-year bond yield down 0.10 pc on tax relief-driven FPI buying

In a notable shift, Indian government bond yields have plummeted, primarily fueled by a wave of foreign investment flooding the market. Recent tax reliefs on debt investments have acted as a magnet, pulling in global funds.

The Economic Times

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The Economic Times

RBI "opens the floodgates": Dhawal Dalal on why now may be the best entry point for debt investors in two years

India is attracting foreign debt capital by removing taxes and easing borrowing rules. This move is expected to inject significant liquidity by September 30. Experts believe this will lower short-term interest rates. Target maturity funds are recommended for investors to benefit from these changes. These funds offer predictable returns by…

The Economic Times

FCNR deposit in demand: $1,277 extra interest on $10,000 investment by NRIs after RBI's latest move?

FCNR interest rates: The Indian government will now cover hedging costs for fresh 3 to 5-year FCNR(B) deposits until September 30, 2026. This move allows banks to offer higher interest rates to Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs). An NRI may now earn an additional $1,277 on…

The Economic Times

Some lenders hike rates on FX deposits for non-resident Indians

Indian banks have significantly increased interest rates on foreign currency deposits for Non-Resident Indians, with some hikes reaching 350 basis points. This move follows the Reserve Bank of India's decision to bear hedging costs for longer-term deposits, aiming to attract dollar inflows and support the rupee. Several major lenders have…

The Economic Times

Is RBI replacing paper currency with plastic notes from June 30, 2026? Check details

Viral social media claims about the Reserve Bank of India replacing paper currency with plastic notes by June 30, 2026, are false. The Press Information Bureau's fact-check team has debunked these posts. The RBI is considering polymer currency but no final decision is made. Citizens should rely on official sources…

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The Economic Times

Rupee to average around 96/USD in FY27; risks from oil, dollar persist: Motilal Oswal

The Indian rupee is projected to average around 96 against the US dollar in FY27. However, this outlook faces potential challenges including dollar strength and crude oil price fluctuations. Despite a widening trade deficit, strong capital inflows and RBI intervention are expected to prevent a sharp depreciation.

The Economic Times

India's current account deficit to remain 1.5-1.7% of GDP in FY27 but RBI measures may turn BoP surplus: SBI Report

India's current account deficit is projected for FY27. However, Reserve Bank of India measures are anticipated to improve the country's external position. These steps aim to strengthen the Rupee and attract foreign capital. This could lead to a balance of payments surplus for FY27. Inflows are expected to boost foreign…

The Economic Times

India's current account deficit to stand at 1.8% of GDP for FY27: ICICI Bank Global Market Report

India is expected to see a current account deficit of 1.8 per cent of GDP in FY27 as against around 2 per cent projected earlier. This adjustment follows a stable outturn in the external sector during the preceding fiscal year despite a widening trade deficit.

The Economic Times

308% return on SGB premature redemption date: Gold bond turns Rs 1 lakh investment into Rs 4.08 lakh

The RBI has announced the premature redemption price for Sovereign Gold Bond (SGB) 2019-20 Series-VII, set at Rs 15,275 per unit. Investors can redeem these bonds from June 10, 2026, after the fifth year of issuance.

The Economic Times

How a simple home loan EMI calculation before you apply can reduce your interest burden

A home loan EMI calculator is an invaluable tool for financial planning, allowing users to estimate monthly repayments, total interest, and repayment schedules by inputting loan amount, interest rate, and tenure. It aids in comparing loan options, optimizing tenure, planning prepayments, and potentially saving significant interest costs.

The Economic Times

RBI measures likely to attract USD 55-65 billion inflows in FY27: SBI report

India anticipates USD 55-65 billion in foreign inflows this fiscal year. The Reserve Bank of India's recent measures aim to stabilize the rupee and boost the country's balance of payments. These initiatives are expected to attract more foreign capital and deepen the domestic debt market. The overall balance of payments…

The Economic Times

From tax exemption to FCNR(B) deposits: How India is trying to attract foreign capital

India is taking steps to attract foreign investment and boost its economy. The Reserve Bank of India and the government have introduced new measures. These aim to bring in more dollars and stabilize the rupee. The initiatives include special swap facilities and tax exemptions for foreign investors. These actions are…

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