The Reserve Bank of India’s (RBI) Governor Shaktikanta Das on Wednesday announced to raise the transaction limits of UPI 123 and UPI Lite, thus expanding the scope of UPI for an increasingly large number of people. While acknowledging that Unified Payments Interface (UPI) has transformed India’s financial landscape by making digital payments more inclusive, the … Read more
After the US Fed lowered policy rate by 50 bps from its 23-year high, the Reserve Bank of India (RBI) is likely to follow suit and cut the benchmark policy rate, perhaps later this year. And with interest rate cut cycle set to commence in December, investors are recommended to lock their money in fixed deposits (FDs) … Read more
The Indian stock market began October on a disastrous note, with Dalal Street witnessing carnage due to across-the-board selling pressure on weak global cues. The domestic indices experienced a sharp downturn, breaking its three-week winning streak. The significant decline has been attributed to a combination of fundamental challenges, which prompted short-term profit-taking. In the second … Read more
The fund house is betting big on exchange traded funds (ETF) and believes it has the strongest back-end to be the best in this space. In an interview with Mint, Swarup Mohanty, vice chairman & CEO, Mirae Asset Investment Managers (India) discussed upcoming RBI policy, GDP growth, changing risk profile of investors, plans in GIFT … Read more
This is believed to be either the last or perhaps second last meeting before the interest rates are eventually slashed after a long hiatus. A Reuters poll predicted that the RBI is expected to cut rates in the Sept quarter. Notably, the banking regulator had raised the repo rates by a cumulative of 250 basis points … Read more
With the Unified Payments Interface (UPI) having gained massive popularity for an array of transactions, depositors will soon be able to use this phone banking interface service to deposit cash at cash deposit machines (CDMs) at ATMs and bank branches. Although it is a natural progression in the continuum of fintech evolution we are all … Read more