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India pressed ahead with banknote ban despite RBI concerns

NEW DELHI/MUMBAI India pushed ahead with its decision to scrap banknotes even as the Reserve Bank of India's (RBI) own board expressed concern whether the cash could be replaced quickly enough, the central bank has said in written testimony to parliament.

Asia gold demand slows on higher prices

MUMBAI/BENGALURU Gold demand slowed in India this week as buyers postponed purchases on expectation of a cut in import duty and after a rebound in prices, while it was tepid across other major trading centres in Asia.

Supreme Court to hear plea seeking to defer annual budget

NEW DELHI The Supreme Court said on Friday it would hear a plea at the start of next week that seeks to postpone the government's annual budget, due to be delivered on Feb. 1, until after five forthcoming state elections are held.

RBI working on plan to reduce online charges - sources

NEW DELHI The Reserve Bank of India is working on a plan to reduce online transaction costs as it tries to encourage more digital banking, two parliamentary panel members quoted central bank governor Urjit Patel as saying on Friday.

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