Page 23 - Latest Updates on Reserve Bank of India
A healthy debate: The case for and against interest rate hike
Having raised policy rates to about 6 per cent, does India's Monetary Policy Committee need to do more? And, if so, is more front-loading warranted?
 "A healthy debate: The case for and against interest rate hike")
RBI fines Vakrangee Rs 1.76 cr for violating order on ATM deployment goals
Central bank had first issued show-cause; latest action follows company's response to the notice
 "RBI fines Vakrangee Rs 1.76 cr for violating order on ATM deployment goals")
Key role for banks in offering best intermediation services: RBI's Patra
Calls for world-class financial intermediation services with Indian economy poised to surpass Germany and Japan a few years and nation's population set to become world's largest and youngest
 "Key role for banks in offering best intermediation services: RBI's Patra")
US markets set for a year-end rally despite recession concerns: Chris Wood
A rally in the US markets amid hope of a softer central bank (US Fed) action going ahead, analysts believe, has the potential to fuel a rally in other global equity markets, including India
 "US markets set for a year-end rally despite recession concerns: Chris Wood")
On high inflation, here is what RBI needs to tell govt: It is your fault
All the research since 1980 shows that loose fiscal policy causes inflation, and the RBI MPC needs to tell the govt just that
Credit card base of major issuers erodes in Q2 over RBI's norms
SBI Card was exception as gains card base, market share
 "Credit card base of major issuers erodes in Q2 over RBI's norms")
Remove withdrawal restrictions on digital BSBD accounts payment: Report
Such a fee imposed on e-commerce merchants and institutions who cannot transact in currency notes would be more in line with 'digital payment facilitation fee'
Top Headlines: CBIC seeks details on digital assets, govt to form GACs
Business Standard brings you the top headlines at this hour
 "Top Headlines: CBIC seeks details on digital assets, govt to form GACs")
Foreign exchange reserves fall to $525 billion, lowest since July 2020
So far in 2022, the Indian currency has weakened 9.9 per cent against the US dollar
 "Foreign exchange reserves fall to $525 billion, lowest since July 2020")
RBI steps up fund infusion as system liquidity 'almost neutral'
Rates on CPs, CDs surge; pressure mounts on banks to raise deposits
 "RBI steps up fund infusion as system liquidity 'almost neutral'")
Bengal breached borrowing limit by seeking loan of Rs 10K cr from RBI: BJP
Suvendu Adhikari claimed that West Bengal has "breached its borrowing limit" under the Fiscal Responsibility & Budget Management (FRBM) Act
 "Bengal breached borrowing limit by seeking loan of Rs 10K cr from RBI: BJP")
RBI release suggests Nov MPC meet only to discuss inflation target failure
MPC may decide RBI's response to govt on the matter; Unlike earlier off-cycle meetings in which interest rate action was taken outside schedule without prior notice, this one was announced in advance
 "RBI release suggests Nov MPC meet only to discuss inflation target failure")
India's forex reserves touch $524.5 bn, lowest level since July 2020
The primary reason for the decline is foreign currency assets, which recorded a dip of $3.5 billion to $465 billion
 "India's forex reserves touch $524.5 bn, lowest level since July 2020")
RBI reviewing regulation for governing non-core business of banks
The modifications in relation to banks' non-core business could be made by amending the Banking Regulation Act
 "RBI reviewing regulation for governing non-core business of banks")
Infibeam Avenues gets RBI in-principle nod for payment aggregator licence
The RBI allowed another window to PAs existing as of March 2020 to apply to the central bank for a license
FATF called for enhanced due diligence on Myanmar following blacklist: RBI
Earlier in February 2020, Democratic People's Republic of Korea (DPRK) and Iran was put on blacklist by the anti-terror financing and anti-money laundering watchdog
 "FATF called for enhanced due diligence on Myanmar following blacklist: RBI")
Future sentiment score hints a decline in housing market momentum in Q4
The Current sentiment score has declined marginally from 62 in the second quarter of 2022 to 61 in the third quarter of 2022.
 "Future sentiment score hints a decline in housing market momentum in Q4")
SBI Card Q2 net profit jumps 52% to Rs 526 crore on low provisions
Impairment losses and bad debts declined 8 per cent YoY to Rs 546 crore, but increased 21 per cent sequentially
 "SBI Card Q2 net profit jumps 52% to Rs 526 crore on low provisions")
Explained: Mahatma to Mangalyaan, how currency notes evolved in India
Delhi's Chief Minister Arvind Kejriwal said that efforts to make India wealthy would only bear fruit with blessings from gods and goddesses.
 "Explained: Mahatma to Mangalyaan, how currency notes evolved in India")
Reserve Bank to hold additional monetary policy meeting on November 3
The MPC hiked the policy repo rate by 50 basis points (bps) to 5.9 per cent in the last policy review, announced on September 30
 "Reserve Bank to hold additional monetary policy meeting on November 3")
