Core Viewpoint - A dispute has arisen between the Reserve Bank of India (RBI) and the State Bank of India (SBI) regarding allegations of plagiarism in research reports, specifically concerning the SBI 'Ecowrap' reports mirroring RBI's monetary policy reports [11][12]. Group 1: Allegations and Responses - An RBI economist accused SBI's 'Ecowrap' reports of verbatim replication of RBI's Monetary Policy Reports without proper attribution, claiming significant overlap in content and structure [12]. - SBI has rejected these allegations, labeling them as sensationalist, and emphasized that their research methodology is distinct from that of the RBI [5][12]. - A member of the SBI team defended their work by highlighting the differences in data focus, with SBI's research concentrating on recent one-year data compared to RBI's longer-term analysis [7][12]. Group 2: Context and Implications - The research topic at the center of the dispute is "spatial inflation convergence," which examines how inflation rates across different regions tend to align over time [7]. - The incident has drawn attention due to the unexpected public airing of grievances by an RBI official, suggesting underlying tensions between the two institutions [8][12]. - Economists have commented on the importance of proper attribution in academic work, with some suggesting that the situation reflects broader issues of collaboration and idea sharing in research [9][10].

Soon, one can have four nominees for deposit accounts and bank lockers. The government has notified November 1 as the appointed date to bring in key provisions related to the Banking Laws Amendment Act.As on date, only one nominee is permitted for deposit accounts and bank lockers. The provisions being brought into effect from November 1 through Sections 10, 11, 12 and 13 relate to nomination facilities in respect of deposit accounts, articles kept in safe custody, and the contents of safety lockers maintai ...

SynopsisState Bank of India has maintained its Marginal Cost of Funds Based Lending Rate (MCLR) and External Benchmark-linked Rates for October 2025. This decision follows the Reserve Bank of India's stance of keeping repo rates unchanged at 5.5% during its October 1, 2025 Monetary Policy Committee meeting. ...

Liquidity Management - India's central bank initiates new foreign exchange swaps to bolster liquidity [1] - Recent currency interventions by the central bank have drained cash from the banking system [1] Currency Intervention Impact - The central bank's interventions are impacting the banking system's cash reserves [1]

Businessmen and individual customers of banks continue to face delays in cheque-clearance even 10 days after the introduction of the same-day cheque clearance facility introduced by the Reserve Bank of India (RBI) on October 4, 2025.There are delays in the clearance of cheques, which used to be cleared in two to three working days in the previous system, but now take five to seven days.“As per feedback from our Micro, Small and Medium Enterprise (MSME) members, among others, the clearance of cheques is taki ...

Core Insights - India's financial landscape is undergoing a transformation with the potential adaptation to stablecoins, as highlighted by Finance Minister Nirmala Sitharaman, who emphasized the need for nations to adapt to new monetary architectures or risk exclusion [3][4][7] Regulatory Environment - Historically, India's courts and financial regulators have aimed to suppress cryptocurrency activities, with the Reserve Bank of India (RBI) opposing digital assets and warning against the risks posed by stablecoins [1][4][5] - The RBI has expressed concerns that stablecoins could fragment India's financial infrastructure and weaken the existing digital payment system [4][5] Central Bank Digital Currency (CBDC) and Tokenized Deposits - The RBI is actively piloting its Central Bank Digital Currency (CBDC), the e-rupee, which has been in a large-scale pilot for three years, covering both retail and wholesale transactions [6][7] - The RBI's latest initiative involves commercial banks exploring tokenized deposits, which are seen as a middle ground between stablecoins and CBDCs, being privately owned and fully backed by bank deposits [6][8]

BREAKING: 🇮🇳 RESERVE BANK OF INDIA TO LAUNCH PILOT FOR TOKENIZED BANK DEPOSITS. https://t.co/rsmHeacCoD ...

Core Insights - India is set to launch its own digital currency backed by the Reserve Bank of India (RBI), aiming to integrate blockchain technology into its financial ecosystem [1] - The initiative is designed to enhance transaction speed, safety, and transparency, operating under full government backing similar to regulated stablecoins in the US [2] - The Indian government remains cautious about privately issued digital currencies like Bitcoin, emphasizing the need for sovereign backing [3] Digital Currency Initiative - The new digital currency will allow for verifiable transactions, reducing the potential for illegal or untraceable transfers [2] - The RBI has consistently warned about the risks posed by unregulated digital assets and advocates for a Central Bank Digital Currency (CBDC) as a regulated alternative [4] Regulatory Environment - India has intensified its crackdown on crypto activities without a comprehensive regulatory framework, fearing that legitimizing crypto could make it systemic and harder to control [5] - Current taxation on crypto profits is set at a flat 30%, with a 1% Tax Deducted at Source (TDS) on transactions exceeding specific thresholds, and investors cannot offset crypto losses against other income [6] - Reports indicate that several Indian users have experienced bank account freezes related to peer-to-peer crypto transactions under investigation [6]

India to Roll Out RBI-Linked Digital Currency Amid Dismissal of Crypto With 'No Backing'► https://t.co/sTlKdtmiei https://t.co/sTlKdtmiei ...

India’s central bank unveils fresh steps to enhance international acceptance of the rupee https://t.co/TJ6ipIyXy6 ...