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The former RBI governor also said that, however, the situation may change going forward as India is already the world's fifth largest economy, it is growing and has the potential to keep expanding

According to the report, the capital spending by states saw a robust 31.7% growth on year at INR 5.89 trillion in FY22

The central bank defines CBDC as a legal tender in a digital form issued by it. It is the same as a sovereign currency and is exchangeable at 1:1 par with fiat currency

The RBI said it had received nine applications under the fourth cohort, of which six entities have been selected for the 'test phase'

Six years after an eventful night, the Supreme Court upholds the decision and deems the demonetisation "legal"

The report also added that various options are being considered internationally in this context

RBI is among the pioneers, having launched a CBDC, the e-Rupee, for both wholesale and retail use

The RBI data reportedly revealed that PSBs estimated at 62% of the deposits of the scheduled commercial banks, while on the other hand on loans, they held 58% market share

The number of transactions per card also declined, in line with the reduction in expenditure per card - at 2.9 transactions versus 3.2 in October

RBI governor emphasized that fintech initiatives and startups are the important segments of aspirational India

With the piling grievances of financial customers, RBI receives complaints under its new scheme

As per reports, an out-of-turn meeting of the monetary policy committee (MPC) of the RBI was held in early November to bat around the report to be sent to the central government for failing to maintain the inflation mandate

On the data collection side, AI and ML technologies are used for real-time data reporting, effective data management and dissemination

Former RBI governor, D. Subbarao has said that anything digital that leaves a footprint can have various solutions

Also, RBI has plans to expand the scope of Bharat Bill Payment System (BBPS) to include all categories of payments and collections, both recurring and non-recurring in nature

The apex bank maintained its 6.7 percent inflation forecast for the current fiscal year ending March while saying that the battle against inflation is not over yet

With its wholesale and retail pilots being live, will the central bank be able to create a loyal user base?

The four-tiered regulatory framework, based on the size of deposits of UCBs, will come into force with immediate effect

The meeting will be chaired by financial services secretary Vivek Joshi and is also likely to see attendance from representatives of the Reserve Bank of India and Indian Banks' Association (IBA)

In its pursuit to popularize electronic alternate to currency, RBI sticks to its timeline for bringing Digital Rupee to the table

It is said that the company will not onboard new online merchants till the time approvals remain pending