RBI

21 Apr

RBI allows minors above 10 to operate bank accounts independently

Rajeev Sharma0 CommentsIndiafinancial literacy, minors banking, RBI

Mumbai, April 21, 2025 — In a significant move aimed at encouraging financial literacy among the youth, the Reserve Bank of India (RBI) has issued new guidelines allowing minors above the age of 10 to operate their bank accounts independently.The circular, released on Monday, directs all commercial banks to enable children in this age group to manage their accounts without the need for parental or guardian signatures. This policy aims to promote early financial discipline and equip children with the tools to understand banking and money management from a young age.Under the revised guidelines, banks are instructed to put in…

07 Feb

RBI Cuts Repo Rate by 25 Basis Points to 6.25% Under New Governor Sanjay Malhotra

nishuthapar10 CommentsBusinessRBI, Repo Rate

In his inaugural Monetary Policy announcement on Friday, Reserve Bank of India (RBI) Governor Sanjay Malhotra revealed that the Monetary Policy Committee (MPC) has unanimously decided to lower the policy rate by 25 basis points, bringing it down from 6.5% to 6.25%. Malhotra addressed the challenges posed by the current global economic landscape, noting that while high-frequency indicators point to resilience and growth in trade, overall global growth remains below historical averages. "Progress on global disinflation is stalling, hindered by rising services prices," he stated. He also discussed the dynamics of global financial markets, indicating that expectations regarding the size…