As expected, the Reserve Bank of India's (RBI) dividend to the central government for 2022-23 is much larger than what the Union Budget for 2023-24 had penciled in.On May 19, the RBI's central board of directors approved the transfer of Rs 87,416 crore as a dividend, nearly Rs 40,000 crore more than the Rs 48,000 crore the government had expected to get. The dividend is nearly three times the Rs 3...

As we transit towards digital economy, it is expected that the international monetary system will go through a transformation through the concept of Central Bank Digital Currency (CBDC). Market analysts believe that CBDCs can pave the way for global financial inclusion. Further it can also support payment mechanisms at the the time of global emergencies.According to the Reserve Bank of India (RBI)...

Global central banks have been on a spree to raise interest rates to tame inflation.An analysis by Emkay Global Financial Services Ltd showed that the Reserve Bank of India (RBI) is closer to its inflation mandate compared with other central banks. The domestic brokerage house points out that inflation measured via the consumer price inflation (CPI) in India is around 100 basis points (bps) ahead ...

The country’s top digital finance companies including credit-card challenger brands and lending firms are joining together to petition the union government and the central bank for clarity on the regulatory directive barring non-bank wallets and pre-paid cards from offering credit lines on their platforms, people briefed on the matter said. The Payments Council of India (PCI), under the Internet...

Global stock and bond markets are at risk of a sell-off because central banks including the Federal Reserve may be forced to raise interest rates more than investors anticipate to tame inflation, a top International Monetary Fund official said.The odds of a major market sell-off would be increased if monetary policy tightening is combined with a recession, Tobias Adrian, director of the IMF’s mo...