Page 32 - Latest Updates on Reserve Bank of India
Rupee ends beyond 81 against dollar for the first time; lags EM peers
RBI may have sold around $1 bn, but experts see pace of intervention declining
 "Rupee ends beyond 81 against dollar for the first time; lags EM peers")
Dubai-based Mark ab Capital invests Rs 350 crore in Shriram EPC equity
The Dubai-based company has bought 26.48% stake in the turnkey solutions firm and has become its promoter
 "Dubai-based Mark ab Capital invests Rs 350 crore in Shriram EPC equity")
NBFCs' recovery to be hit after RBI action against M&M Financial Services
Moreover, as lenders will not deploy their own staff for such activity, their operation costs may go up, said experts
 "NBFCs' recovery to be hit after RBI action against M&M Financial Services")
Rupee closes at new low against US dollar amid risk-off mood
The dollar index traded above 113-levels for the first time since 2002 as deep tax cuts in the UK sent the sterling to a record low
 "Rupee closes at new low against US dollar amid risk-off mood")
We've moved away from being a founder-run company: BharatPe's Suhail Sameer
In a Q&A, the firm's CEO asserts that the company is now professionally run and is focused on being IPO ready
 "We've moved away from being a founder-run company: BharatPe's Suhail Sameer")
S&P projects India's FY23 GDP growth at 7.3%, pegs inflation above 6%
S&P Global Ratings projected India's economic growth at 7.3% in current fiscal with downside risks and said inflation is likely to remain above RBI's upper tolerance threshold
 "S&P projects India's FY23 GDP growth at 7.3%, pegs inflation above 6%")
Govt draws up plans to address concerns of green bond investors
A government official aware of the developments said the treatment for such bonds had to be different from that for the money raised through various types of cess
 "Govt draws up plans to address concerns of green bond investors")
Navigating the affordable housing finance market
The demand for affordable housing finance is very high, but housing finance companies have not disbursed loans up to their potential, owing to a lack of awareness among customers about such firms
 "Navigating the affordable housing finance market")
Rupee has held back very well among peers against dollar: FM Sitharaman
Finance Minister Nirmala Sitharaman on Saturday said the rupee has "held back very well" when compared to other currencies against the US Dollar.
 "Rupee has held back very well among peers against dollar: FM Sitharaman")
Applying for a digital loan? Stick to loan apps on RBI's white list
The name of the bank or NBFC on whose behalf the app lends should be mentioned on the former's website
 "Applying for a digital loan? Stick to loan apps on RBI's white list")
RBI action has no impact on business, says M&M Financial Services
The RBI action of barring M&M Financial from outsourcing recovery agents comes after the Harazibagh incident where a pregnant woman was mowed down to death
 "RBI action has no impact on business, says M&M Financial Services")
We're looking to hire 1,700 bankers this year: Central Bank of India MD
Rao says he doesn't foresee much flight of CASA money into term deposits as deposit rates are hiked
 "We're looking to hire 1,700 bankers this year: Central Bank of India MD")
At 16.2%, credit growth in banking system at multi-year high: RBI data
But a widening credit-deposit gap is a concern for lenders
 "At 16.2%, credit growth in banking system at multi-year high: RBI data")
Will exit reconstruction scheme after lock-in period ends: YES Bank
The RBI has set three parameters for YES Bank before it can leave the reconstruction scheme
 "Will exit reconstruction scheme after lock-in period ends: YES Bank")
Rupee Cooperative Bank set to explore merger proposal, SFB conversion
On August 8, the RBI had ordered cancellation of the banking licence of the ailing UCB from September 22. The high court will take up the matter on October 17
 "Rupee Cooperative Bank set to explore merger proposal, SFB conversion")
India's forex reserves fall by $5.22 bn to near two-year low: RBI data
India's foreign exchange reserves fell for a seventh straight week, dropping to $545.652 bn in the week to Sept 16, its lowest level since Oct. 2, 2020
 "India's forex reserves fall by $5.22 bn to near two-year low: RBI data")
India OIS curve may steepen on overcooked rate hike bets: BofA Securities
BofA expects the Reserve Bank of India to raise rates by 25-35 basis on Sept. 30 and reckons the policy rate will reach 6.5% by end-2023, much later than what some investors are expecting
 "India OIS curve may steepen on overcooked rate hike bets: BofA Securities")
India, US 10-year yield spread at its lowest in 12 years, shows data
The current spread is nearly 142 bps lower than the 10-year average spread of 518 bps, and 66 bps lower than the 20-year average spread of 442.3 bps
 "India, US 10-year yield spread at its lowest in 12 years, shows data")
'Can't outsource recovery agents': RBI cracks the whip on M&M Financial
This is probably the first time the regulator has cracked down on lenders on recovery by coercive methods, which is typically a hallmark of outsourced recovery agents
 "'Can't outsource recovery agents': RBI cracks the whip on M&M Financial")
SBI least efficient in Asia-Pacific due to high cost-to-income ratio: Study
State-owned lender had the highest cost-to-income ratio, according to S&P Global Market Intelligence
 "SBI least efficient in Asia-Pacific due to high cost-to-income ratio: Study")
