Page 16 - Latest Updates on Reserve Bank of India
Don't hike repo rate by more than 25-35 bps: Assocham's advice to RBI
With Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) set to meet to decide on the policy rate revision, industry lobby body Assocham has urged the former for a moderate hike
 "Don't hike repo rate by more than 25-35 bps: Assocham's advice to RBI")
Core activities of a bank should not be outsourced, says RBI's AK Choudhary
"While outsourcing it is very important that adequate safeguards are established to seal the situation as well as the financial stability of the banking system," Choudhary added
 "Core activities of a bank should not be outsourced, says RBI's AK Choudhary")
Retail CBDC a game-changer, should improve monetary transmission: SBI chief
Anonymity factor is critical for its acceptance, asserts Dinesh Khara
 "Retail CBDC a game-changer, should improve monetary transmission: SBI chief")
Forex reserves rise for third week in a row; up $2.9 bn to $550.14 bn
Fall in US dollar index seen providing revaluation boost to RBI reserves
 "Forex reserves rise for third week in a row; up $2.9 bn to $550.14 bn")
Bank credit grows 17.2% YoY to Rs 129.48 trn in fortnight to Nov 18
Deposit growth rises 9.6%, analysts cite FPI flows, govt spending
 "Bank credit grows 17.2% YoY to Rs 129.48 trn in fortnight to Nov 18")
Assocham asks RBI to moderate rate hikes to avoid impact on recovery
Industry body Assocham on Friday asked the Reserve Bank, which has hiked the key policy rate by 190 basis points since May, to moderate the interest rate hikes
 "Assocham asks RBI to moderate rate hikes to avoid impact on recovery")
India's forex reserves rise for third straight week to $550.14 billion
India's foreign exchange reserves rose for the third straight week, to $550.14 billion in the week through November 25, RB) weekly statistical supplement showed on Friday
 "India's forex reserves rise for third straight week to $550.14 billion")
Bank credit grows nearly 17% for fortnight ended Nov 18, says RBI
Indian banking system's outstanding credit grew by 16.96 per cent for the fortnight ended November 18, the Reserve Bank said on Friday
Rupee premiums close to bottoming, RBI key moving part, says report
The 1-year rupee overnight index swaps declined about 30 bps in November, helped by a better inflation outlook domestically
 "Rupee premiums close to bottoming, RBI key moving part, says report")
India's CAD likely to shoot up as net exports hit nine-year low
India's CAD stood at 2.8 per cent of GDP in Q1FY23, compared with 1.5 per cent of GDP in the January-March quarter of 2021-22
 "India's CAD likely to shoot up as net exports hit nine-year low")
IBC process: Resolution and distribution of funds may be separated
IBC amendments likely in the Budget Session, MCA also rethinking priority given to govt dues in the waterfall mechanism
 "IBC process: Resolution and distribution of funds may be separated")
Independent valuations 70% more than bankrupt Reliance Capital bids
In November last year, the Reserve Bank of India had sent the company to debt resolution after it defaulted on its loans worth Rs 24,000 crore
 "Independent valuations 70% more than bankrupt Reliance Capital bids")
RBI conditional approval to Carlyle, Advent's stake buy in YES Bank
The fund-raising would be conducted through a combination of $640 million (Rs 5,100 crore) in equity shares and $475 million (Rs 3,800 crore) through equity share warrants, YES Bank had said
Reserve Bank of India issues framework for Indian banks' foreign biz
The framework also specifies the applicability of these instructions to International Financial Services Centres in India, including Gujarat International Finance Tec-City
 "Reserve Bank of India issues framework for Indian banks' foreign biz")
e-Rupee: RBI creates Rs 1.71 crore of digital currency for retail pilot
Aims to involve 50,000 merchants, customers in the next few days
 "e-Rupee: RBI creates Rs 1.71 crore of digital currency for retail pilot")
e-Rupee: India's digital currency fails to excite interest, say bankers
Seven bankers told Reuters that using the e-rupee of the Reserve Bank of India (RBI) was much the same as internet-based banking that users were already satisfied with
 "e-Rupee: India's digital currency fails to excite interest, say bankers")
Low-value transactions via digital rupee to be kept anonymous: Report
On December 1, some users will receive a CBDC wallet containing notes signed by the RBI governor
Robust activity in services sector holds up 6.3% GDP growth in Q2
GDP grew 7.6 per cent in the September quarter of FY23 over the comparable period in FY20, which was before the pandemic
 "Robust activity in services sector holds up 6.3% GDP growth in Q2")
FM Nirmala Sitharaman confident of strong growth, low inflation in 2023
Sitharaman declined to describe specifics from the letter, but added that the government's top three priorities for 2023 will be "growth, health and education."
 "FM Nirmala Sitharaman confident of strong growth, low inflation in 2023")
ESMA deadlock: European regulator's interference unfortunate, says RBI DG
"Potential disruption to the forex markets can be serious"
 "ESMA deadlock: European regulator's interference unfortunate, says RBI DG")
