Page 22 - Latest Updates on Reserve Bank of India
RBI's MPC meets to draft letter to govt on missing inflation target
The meeting was chaired by RBI Governor Shaktikanta Das and attended by all the other five members of the rate setting panel
 "RBI's MPC meets to draft letter to govt on missing inflation target")
Rate setting panel meets to draft report on missing inflation target: RBI
It was the first time since the monetary policy framework came into effect in 2016 that RBI had to give an explanation to the government
 "Rate setting panel meets to draft report on missing inflation target: RBI")
RBI Meeting: All you need to know about additional monetary policy meet
Under Section 45ZN of the RBI Act, 1934, the central bank is required to write a letter to the Centre if it fails to maintain the inflation target
 "RBI Meeting: All you need to know about additional monetary policy meet")
After Fed hike, experts can't form consensus on expected MPC response
In September review, panel talked about aggressive monetary policy actions and stances across the world
 "After Fed hike, experts can't form consensus on expected MPC response")
RBI's MPC to explain first inflation miss since 2016 to government today
This is the first time the Reserve Bank of India is writing such a letter after the country switched to a flexible inflation-targeting regime and formed a committee in 2016 to set interest rates
 "RBI's MPC to explain first inflation miss since 2016 to government today")
Bankers take to streets with megaphones, enlist grocers to lure customers
Rising loan demand from companies and consumers has pushed annual credit growth to a decade high of 17.95% as of October, compared to a five-year average of 9.7%
 "Bankers take to streets with megaphones, enlist grocers to lure customers")
RuPay credit card UPI to succeed if small transactions under 10%: Asbe
RuPay credit card on UPI feature is yet to see a high number of transactions as large issuers of credit cards have not onboarded the feature
 "RuPay credit card UPI to succeed if small transactions under 10%: Asbe")
Treasury Bill yields at multi-year high on near-term liquidity fears
Yields across both securities rose 7-8 basis points over the previous week's auction
 "Treasury Bill yields at multi-year high on near-term liquidity fears")
Not in a hurry to launch CBDC; have to proceed carefully: RBI Guv Das
Central bank to consider findings of pilot projects before decision, he says
 "Not in a hurry to launch CBDC; have to proceed carefully: RBI Guv Das")
Abuse of Liberalised Remittance Scheme for offshore betting under CBIC lens
Separate investigation on home-grown online gaming companies shows tax evasion of up to Rs 80,000 crore
 "Abuse of Liberalised Remittance Scheme for offshore betting under CBIC lens")
RBI won't immediately release letter on inflation response to govt
RBI Governor Das said on Wednesday a letter that will be sent to the government will not be made public after the Nov 3 special meeting because the bank does not have the authority to release it
 "RBI won't immediately release letter on inflation response to govt")
Manufacturing PMI recovers to 55.3 in Oct amid contained price pressures
Manufacturing employment increases at 'marked rate' as factories report rise in orders, says survey
 "Manufacturing PMI recovers to 55.3 in Oct amid contained price pressures")
RBI's e-rupee pilot takes off; Day 1 bond trade deals hit Rs 275 crore
SBI, BoB hammer out first gilt deal using digital rupee; 48 transactions carried out
 "RBI's e-rupee pilot takes off; Day 1 bond trade deals hit Rs 275 crore")
Reserve Bank starts pilot digital currency program for select banks
Banks traded Rs 275 crore ($33.3 million) of bonds on the first day using the new form of currency, data showed
 "Reserve Bank starts pilot digital currency program for select banks")
RBI has been prudent in its exchange rate management: Deepak Parekh
Currency's depreciation not a reflection of the economy, says HDFC Ltd chairman
 "RBI has been prudent in its exchange rate management: Deepak Parekh")
RBI starts pilot of its digital currency, allows 9 banks to use it
The e-rupee is set to be test launched within a month for retail use in select locations and users, the Reserve Bank of India had said in a statement Monday
Onset of festive season pushes credit growth across sectors in September
Housing and vehicle loans lead surge in retail credit, which was up 19.6% YoY
 "Onset of festive season pushes credit growth across sectors in September")
Growth of core sector output recovers to 3-month high in September
The Reserve Bank of India last month also revised its growth forecast for FY23 to 7 per cent from 7.2 per cent estimated earlier
 "Growth of core sector output recovers to 3-month high in September")
Centre's fiscal deficit in H1 touches 37.3% of full-year target
The Centre is hopeful of keeping the fiscal deficit at 6.4 per cent of nominal GDP in FY23
 "Centre's fiscal deficit in H1 touches 37.3% of full-year target")
India's inflation numbers may be lower than official data suggests: Report
India's inflation numbers might be better than official data suggests once the massive impact of a government food program is factored in, according to a report released Monday
 "India's inflation numbers may be lower than official data suggests: Report")