Free Press Journal
  • All 14 types of Rs 10 coin valid, legal tender: RBI

    Mumbai: All the 14 designs of Rs 10 coin are valid and legal tender for transactions, the Reserve Bank said today amid reluctance by certain traders to accept the coins.

  • IBA: Banks will not end free services

    Mumbai : The Indian Banks’ Association on Wednesday clarified that social media rumours that all free services provided by banks would cease on Jan 20, were “baseless and false”. “…there is neither move by banks for such a blanket removal of free services nor such thing is being contemplated.

  • ‘Former RBI head warned against loan waiver promises by parties’

    New Delhi : An ex-Governor of the Reserve Bank of India (RBI) had pointed to the risks in the practice of political parties promising loan waivers during poll campaigns to the Election Commission, Parliament was informed on Friday.

  • Rupee closes at 32-month high of 63.36

    Mumbai : Continuing its winning spree, the rupee on Friday ended higher against the US dollar for the fourth session since the beginning of this calendar year, because of sales of the dollar by foreign portfolio investors and exporters, dealers said.

  • New Rs 10 note is out and this is how it looks

    New Delhi: The Reserve Bank of India (RBI) on Friday unveiled banknotes of Rs 10 denomination under the Mahatma Gandhi (New) Series. The new 63 mm x 123 mm notes are embossed with the signature of RBI Governor Dr Urjit Patel and have the motif of the Sun Temple, Konark on the reverse, depicting the country’s cultural heritage.

  • Remonetisation: RBI to issue new chocolate coloured Rs 10 note

    After the big denominations, now it’s time for Rs 10 to get a new makeover. Yes! According to reports, the Reserve Bank of India is all set to issue new Rs 10 note with chocolate brown colour as the base. Meanwhile, the new 10 rupee note wil bear the picture of the ‘Konark Sun Temple’ and the RBI has already printed 1 billion pieces of the new note.

  • Rupee hits fresh 2-1/2 yr high on sliding US dollar

    Mumbai : The rupee shot up to end at a nearly two-and-a-half year high of 63.48, surging by 20 paise against the US dollar as the bullish momentum continued strongly for the fourth-straight day driven by upbeat hopes on the macro front. An extremely bearish greenback sentiment has been one of the key factors driving the rupee higher at this juncture, reports the PTI. Besides, the heavy dollar unwinding by speculative traders

  • Parliamentary panel tells Govt to take urgent steps to contain NPAs

    New Delhi : Concerned over the rising NPAs of banks, a Parliamentary panel has asked the government to take urgent remedial measures to reduce the volume of stressed assets in the system and strengthen the vigilance mechanism.

  • Microfinance lender SV Credit Line raises 4 Million USD from Blue Orchard

    North India based microfinance institution (MFI) SV Creditline Ltd (SVCL) has been received long term Non-Convertible Debentures of about 4 Million USD from Blue Orchard, a leading impact investment manager worldwide, specialized in fostering inclusive finance and sustainable growth. The sanction is going to be used for expanding the energy efficiency and renewable energy portfolio. This will strengthen the financial position of the company and pave the path for future growth.

  • ‘RBI could be holding back Rs 2,000 notes’

    New Delhi : The Reserve Bank of India (RBI) may either be holding back Rs 2,000 notes or could have stopped printing high denomination currency, claims a SBI research report. Juxtaposing the data presented in the Lok Sabha recently with the one provided by the RBI in its Annual Report earlier, the SBI Ecoflash report said, on Wednesday, that “we observe” that the value of small denomination currency in circulation up to

  • ‘RBI’s MDR rationalisation to hurt merchant acquiring banks’

    Mumbai: Analysts today said the Reserve Bank move to reduce merchant discount rate (MDR) on debit cards is negative for acquiring banks like HDFC Bank and Axis Bank in the short-term as the surge in volumes is unlikely to make up for the losses.