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The Reserve Bank of India has officially excluded Paytm Payments Bank from the Second Schedule to the RBI Act following court orders to wind up the entity.
The Reserve Bank of India increases the repo rate by 25 bps to 5.50 percent, signaling no immediate room for interest rate cuts.
The RBI has raised the repo rate to 5.50% and ruled out immediate rate cuts, focusing on inflation risks and economic growth.
The RBI has introduced a one-time approval mechanism for mutual funds and insurers to acquire up to 10% stake in banks, simplifying regulatory processes.
RBI data reveals India's external debt rose to USD 778.2 billion in the June quarter, even as the debt-to-GDP ratio remains stable.