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TREND | 01 Aug 2025

2,000 notes worth 6,017 crore still in circulation, shows RBI data

Business Standard

The high-value Rs 2,000 notes worth Rs 6,017 crore are still in circulation even after more than two years of the Reserve Bank withdrawing the currency, according to official data released on Friday. Rs 2,000 banknotes continue to be legal tender. On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2,000 denomination banknotes from circulation. In a statement, the RBI said the total value of Rs 2,000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023 has declined to Rs 6,017 crore at the close of business on July 31, 2025. "Thus, 98.31 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, has since been returned," it said. The facility for exchange of the Rs 2,000 banknotes is available at the 19 issue offices of the Reserve Bank since May 19, 2023. From October 9, 2023, RBI Issue Offices are also accepting Rs 2,000 banknotes from individuals/entities for deposit into their bank accounts. Fu

India's forex reserves rise by $2.7 bn to reach $698.1 bn in July

Business Standard | 01 Aug 2025

Indian Economy

TREND | 01 Aug 2025

Fifteen More Banks To Implement RBI's MuleHunter In Next Two Months

NDTV Profit

MuleHunter is based on artificial intelligence and machine learning-based algorithms, and being given free to banks for now, Suvendu Pati, a chief general manager at RBI, said at an ICAI event here.

Indian Economy

TREND | 01 Aug 2025

15 more banks to adopt RBI's MuleHunter fraud detection tool by October

Business Standard

At least 15 more banks are set to implement the RBI-developed MuleHunter platform over the next two months to intensify efforts to tackle fraud by identifying accounts used for fraudulent transactions, a senior official said on Friday. Five lenders, including Canara Bank, Punjab National Bank, Bank of India, Bank of Baroda and AU Small Finance Bank, have already implemented the platform developed by the RBI Innovation Hub, a fully-owned subsidiary of the central bank, while Federal Bank is set to adopt it over the next few days, the official added. Mule accounts, or accounts created by fraudsters to receive, transfer or launder illicit funds collected from unsuspecting victims, have been a big challenge for the banking system because such accounts, which are generally opened using fraudulently obtained credentials, are used for transferring proceeds of financial frauds. Usually, there are multiple layers of such accounts from where funds are transferred within a short time to ensure

Indian Economy

TREND | 01 Aug 2025

RBI okays scheme of amalgamation of fraud-hit New India Co-op Bank with Saraswat Co-op Bank

Business Line

The scheme will come into force with effect from August 4

RBI approves merger of New India Co-operative Bank with Saraswat Bank

Business Standard | 01 Aug 2025 9 more

Indian Economy

TREND | 01 Aug 2025

Tariff woes temporary, India's equity story still intact: Seshadri Sen

Economic Times

Seshadri Sen of Emkay Global Financial Services discusses the Indian market. He believes tariffs pose a limited threat. A cyclical recovery in consumption is expected. This will be driven by the Reserve Bank of India's monetary stimulus. Earnings are mixed, but not alarming. Consumer discretionary and industrials are favored sectors.

Indian Economy

TREND | 01 Aug 2025

For the RBI, managing households' inflation expectations is critical, too

Business Standard

It is now well known that expectations significantly affect economic outcomes. Therefore, central banks focus a great deal on managing inflation expectations

Indian Economy

TREND | 31 Jul 2025

Muted response to RBI's VRRR as overnight rates rise, reducing arbitrage

Business Standard

With WACR and tri-party repo rates climbing, banks park only 13,075 crore against RBI's 50,000 crore offer in overnight VRRR auction

Indian Economy

TREND | 31 Jul 2025

Fiscal deficit hits 17.9% of full-year target in Q1FY26: CGA data

Business Standard

The central government's fiscal deficit stood at 17.9 per cent of the full-year target at the end of June, according to data released by the Controller General of Accounts (CGA) on Thursday. It was at 8.4 per cent of Budget Estimates (BE) of 2024-25 in the first three months of the previous financial year. In absolute terms, the fiscal deficit, or gap between the government's expenditure and revenue, was Rs 2,80,732 crore in the April-June period of the 2025-26 fiscal year. The Centre estimates the fiscal deficit during 2025-26 at 4.4 per cent of the GDP, or Rs 15.69 lakh crore. According to the CGA, Centre's net tax revenue was Rs 5.4 lakh crore, or 19 per cent of corresponding BE 2025-26 of total receipts, up to June 2025. In the corresponding period of the previous fiscal year, the net tax revenue was at 21.3 per cent of that year's BE. The data on monthly accounts showed that the total expenditure during the first quarter was at Rs 12.22 lakh crore, or 24.1 per cent of BE. In

Indian Economy

TREND | 31 Jul 2025

RBI unlikely to revive daily fixed-rate lending despite market demand

Business Standard

The policy, called fixed rate liquidity operations, will help banks manage their needs better, several bankers proposed to the RBI in meetings held over the last few months

RBI unlikely to re-introduce fixed-rate liquidity operations, sources say

Business Line | 31 Jul 2025 9 more

Indian Economy

TREND | 30 Jul 2025

RPI Repo Rate: Amid Status Quo Expectations, Will US Tariffs, Growth Concerns Force MPC To Rethink?

NDTV Profit

Chances of an offside rate cut remain, amid fresh headwinds from US President Donald Trump's imposition of 25% tariffs, suggest economists.