The Reserve Bank of India on 20 March advised all banks dealing with government transactions to open their branches on 31st March, Sunday. The central bank issued the advisory to the agency banks at the request of the union government. The Government of India requested all agency banks to keep their branches dealing with government receipts and … Read more
India’s foreign exchange reserves rose by USD 10.470 billion to USD 636.095 billion in the week that ended on March 8, as per the latest data released by the Reserve Bank of India (RBI). The foreign exchange kitty rose for a third straight week to hit an over two-year high. Before March 8 week, the … Read more
The Reserve Bank of India (RBI) and the Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) on Thursday for establishing a framework to promote the use of local currencies – the Indian Rupee (INR) and the Indonesian Rupiah (IDR) for cross-border transactions. The MoU was signed by the Governor, Reserve Bank of India, Shaktikanta … Read more