Reserve Bank of India
UPI Lite Now Available on Smart Glasses: Revolutionizing Contactless Payments with "Look, Speak, Pay" Technology
Oct 08, 2025 02:34 am CST
NPCI has launched an innovative payment solution that integrates UPI Lite with smart glasses, enabling users to make hands-free payments through simple QR code scanning and voice commands. This advancement eliminates the need for smartphones or PIN authentication for small-value transactions, representing a significant step forward in India's digital payment ecosystem and wearable technology integration.
98.35% of Rs 2000 Notes Withdrawn: Only Rs 5,884 Crore Still in Circulation, Says RBI
Oct 02, 2025 01:44 am CST
The Reserve Bank of India reports that Rs 2000 denomination banknotes worth only Rs 5,884 crore remain in circulation, representing just 1.65% of the original amount when withdrawal was announced in May 2023. While still legal tender, these notes can be exchanged at 19 RBI offices nationwide or sent through India Post for bank account deposits.
RBI Governor Confirms No Plans to Charge for UPI Transactions While Considering Digital Enforcement for Credit Purchases
Oct 01, 2025 05:01 pm CST
RBI Governor Sanjay Malhotra has affirmed there are no plans to levy charges on UPI transactions, while the central bank evaluates a proposal for remotely locking phones purchased on credit during payment defaults. The RBI has also raised India's GDP growth projection to 6.8% for the current fiscal year, with Malhotra expressing confidence in continued economic growth alongside price stability.
RBI Maintains 5.5% Repo Rate Amid Economic Growth and Inflation Assessment: Growth Forecast Raised to 6.8%
Oct 01, 2025 01:27 pm CST
The Reserve Bank of India unanimously voted to keep its key repo rate at 5.50% for the second consecutive time while adopting a neutral stance. Despite previous rate cuts totaling 100 basis points in early 2025, the RBI is evaluating their impact alongside recent tax cuts. The central bank raised its GDP growth forecast to 6.8% while lowering inflation projections to 2.6%, creating potential space for future monetary easing as it balances domestic economic resilience against global trade challenges.
Prime Minister Modi Honors Dr. Manmohan Singh's Legacy on 93rd Birth Anniversary: Celebrating a Lifetime of Economic Reform and Public Service
Sep 26, 2025 02:11 pm CST
Prime Minister Narendra Modi paid tribute to former PM Dr. Manmohan Singh on his 93rd birth anniversary, recognizing his significant contributions to India's economic transformation. Dr. Singh, who served as India's 13th Prime Minister from 2004-2014, is remembered for implementing groundbreaking economic reforms, establishing the MGNREGA and RTI Act, and his commitment to inclusive growth. Congress President Mallikarjun Kharge also honored Singh's legacy of integrity, intellect, and selfless service to the nation.
Donald Trump's 50% Tariff A Challenge To 'Make in India' Push, Says Moody's
Aug 08, 2025 05:48 pm CST
US President Donald Trump's punitive 50 per cent tariff on imports from India could pose a serious challenge to New Delhi's self-reliance ambitions under the Atmanirbhar Bharat mission.
How Trump's 'Big, Beautiful Bill' Impacts Funds Transferred To India
Jun 07, 2025 12:20 pm CST
In Donald Trump's "One Big Beautiful Bill," recently pushed through the House of Representatives, lies a provision that could change global remittance flows, and India, the world's leading recipient of remittances, could be impacted the most.