RBI to penalise banks for non-availability of cash in ATMs from Oct 1

Concerned over the inconvenience caused to the public due to the non-availability of cash in ATMs, the Reserve Bank has decided to penalise banks for failure to timely replenish currency notes in such machines. The RBI will start imposing penalty on banks in case the ATMs remain out-of-cash for a total period of 10…

ExplainSpeaking: Decoding RBI’s monetary policy stance

Dear Readers, Last week, the Monetary Policy Committee (MPC) of India’s central bank, the Reserve Bank of India, met and decided that it would neither increase nor decrease the benchmark interest rates in the economy. In fact, it did not even change its “stance” (or the approach to making policy…