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RBI to set up portal to search across multiple banks for unclaimed deposits

SBI tops the chart of unclaimed deposits worth Rs 8,086 crore followed by Punjab National Bank Rs 5,340 cr, Canara Bank Rs 4,558 cr and Bank of Baroda Rs 3,904 cr. ....

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RBI permits banks to offer non-deliverable fx derivatives to resident users

IFSC Banking Unit or an "IBU" is a bank permitted by the Reserve Bank of India to operate from an International Financial Services Centre (IFSC). ....

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RBI proposes expanding UPI digital payments system to allow credit

In March 2023, UPI recorded 8.65 billion transactions, amounting to 14.05 trillion rupees, its highest-ever since inception, data from the National Payments Corporation of India showed. ....

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Rupee slips 2 paise to 81.92 against US$ post-RBI policy decision

Forex traders said the Indian rupee witnessed volatility after the Reserve Bank of India (RBI) surprised the market by pausing the rate hike. ....

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RBI appoints Neeraj Nigam as executive director

As executive director, he will look after consumer education and protection department; financial inclusion and development department, legal department, and Secretary's department, the RBI said. ....

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