RBI to come up with new payment system LPSS to process critical transactions
The central bank says LPSS will operate on minimalistic hardware, software, and will be made active only on a need basis
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May 2023
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Currency in circulation falls during Diwali for first time in 2 decades: SBI
With the increased acceptance of digital payments in the country, the over reliance on cash is slowly fading away.
RBI cuts repo rate to arrest slowdown
The 35 basis point repo rate cut is not the first unconventional rate action from the central bank as two repo rate actions in March 2003 saw a 40 and 10 basis points reduction in a matter of 13 days.
Finance minister holds review meeting with bankers
FM Nirmala Sitharaman will hold similar meetings with representatives from MSMEs, auto, industry associations, financial market stakeholders, and others to address sector-specific issues.
Mapping India’s digital payments journey
A close look at the evolution of payment systems in India as the Reserve Bank of India removes charges on RTGS and NEFT systems.
