Page 17 - Latest Updates on Reserve Bank of India
Reserve Bank of India, Japanese regulator hold talks on clearing houses
Dialogue on clearing houses come after CCIL derecognition by ESMA, BoE
 "Reserve Bank of India, Japanese regulator hold talks on clearing houses")
Fintech lenders align business model with RBI's digital lending norms
The RBI came out with the guidelines on digital lending in September and gave time until November 30 for players to comply with the 'existing loan' category
 "Fintech lenders align business model with RBI's digital lending norms")
RBI's modified digital lending norms to come in effect from Dec 1
The Reserve Bank's modified guidelines on digital lending that seek to protect customers from exorbitant interest rates by certain entities will come into effect from Thursday
 "RBI's modified digital lending norms to come in effect from Dec 1")
Economic uptick boosts credit offtake beyond 20% in retail, services
The rise in credit was largely driven by housing and vehicle loans segments
 "Economic uptick boosts credit offtake beyond 20% in retail, services")
Retail e-rupee pilot begins tomorrow: Here's what you can expect from it
The transactions using the retail CBDC can be both person-to-person as well as person-to-merchant, and payments can be made using QR codes shown at merchant locations
 "Retail e-rupee pilot begins tomorrow: Here's what you can expect from it")
Retail CBDC pilot starts Dec 1, to be tested in 4 banks, 4 cities initially
RBI says digital rupee for retail segment will be in the form of a digital token that represents legal tender, to be issued in same denominations as paper currency and coins
 "Retail CBDC pilot starts Dec 1, to be tested in 4 banks, 4 cities initially")
Forex reserves likely to show revaluation gains now, say analysts
RBI said to have been actively buying dollars for the past couple of weeks, say currency traders
 "Forex reserves likely to show revaluation gains now, say analysts")
Union Bank raises Rs 2,200 cr in tier II capital for business growth
Public sector lender plans tier I bond of Rs 700 crore before financial year closes
 "Union Bank raises Rs 2,200 cr in tier II capital for business growth")
ESMA to derecognise CCIL: Banks, RBI discuss alternative clearing methods
Fresh clearing options came up in discussions with RBI, banks in touch with offshore regulators
 "ESMA to derecognise CCIL: Banks, RBI discuss alternative clearing methods")
RBI imposes Rs 1.25 crore penalty on Zoroastrian Co-operative Bank
The Reserve Bank of India has imposed a penalty of Rs 1.25 crore on Zoroastrian Co-operative Bank, Mumbai for non-compliance with certain directions, including one related to discounting of bills
PNB plans to raise up to Rs 4,000 crore through issuance of tier-2 bonds
The latest round of fundraising by banks comes at a time when credit growth has shown sustained momentum even as growth in deposits continues to lag
 "PNB plans to raise up to Rs 4,000 crore through issuance of tier-2 bonds")
Savings deposit growth in Q2 slumps to 9.4% YoY while FDs gain traction
Growth of money kept in current accounts moderated to 8.8% this September, from 17.5% a year ago
 "Savings deposit growth in Q2 slumps to 9.4% YoY while FDs gain traction")
Festivals boost credit card spends to record high of Rs 1.29 trillion
On a year-on-year (YoY) basis, spends were up over 25 per cent, despite a high base
 "Festivals boost credit card spends to record high of Rs 1.29 trillion")
Paytm dips 4% intra-day as RBI asks arm not to onboard new online merchants
This has no material impact on our business and revenues, since the communication from RBI are applicable only to on boarding of new online merchants, Paytm said
 "Paytm dips 4% intra-day as RBI asks arm not to onboard new online merchants")
Top Headlines: Air India on metro-to-metro routes; RBI rate hike & more
A Business Standard poll shows that the Reserve Bank of India's (RBI's) Monetary Policy Committee (MPC) is likely to announce a 35-basis point (bp) hike in the repo rate on December 7
 "Top Headlines: Air India on metro-to-metro routes; RBI rate hike & more")
Public Credit Registry: What's that?
PCR needs to be backed and governed by a comprehensive Public Credit Registry Act in consultation with the govt, and it must follow the latest privacy guidelines based on a laid-down consent framework
Economists see 35 bps rate hike, then a pause: BS monetary policy poll
Some expect a slight reduction in GDP growth forecast
 "Economists see 35 bps rate hike, then a pause: BS monetary policy poll")
Indian industries urge RBI to consider moderating pace of rate hikes
In order to reduce the multi-year high inflation, the RBI has increased the policy repo rate by 190 basis points since May of the ongoing fiscal year
 "Indian industries urge RBI to consider moderating pace of rate hikes")
India seeks to shrink budget deficit by 50bps as global headwinds loom
What complicates matters for Sitharaman is that her food and energy bills are inflated by the war in Ukraine and given India runs a current-account deficit as well, the rupee has been weakening
 "India seeks to shrink budget deficit by 50bps as global headwinds loom")
Forex reserves rise for second week in a row; up $2.5 bn to $547.25 bn
The latest data marks the first time since May that the RBI's reserves have risen for two consecutive weeks
 "Forex reserves rise for second week in a row; up $2.5 bn to $547.25 bn")
