Page 35 - Latest Updates on Reserve Bank of India
Peerless group poised for growth, targets Rs 1,000 crore turnover
PGFI's revenues for the year ended March 31, 2022, had stood at around Rs 498 crore while profit for the year was at 102.76 crore. But pre-Covid, turnover was in the region of Rs 535 crore
 "Peerless group poised for growth, targets Rs 1,000 crore turnover")
FSDC discusses ways to ease inter-regulatory issues at IFSC-GIFT City
Council held meeting in Mumbai on Thursday, chaired by Union Finance Minister Sitharaman
 "FSDC discusses ways to ease inter-regulatory issues at IFSC-GIFT City")
RBI likely to raise repo rate by 50 basis points to 5.9%: Morgan Stanley
"We were earlier expecting a 35bp increase, however, sticky inflation and continued hawkish stance of DM central banks, warrants continued front loading of rate hikes, in our view," the report said
 "RBI likely to raise repo rate by 50 basis points to 5.9%: Morgan Stanley")
FSDC stresses on the need to monitor India's financial sector risks
Meeting discusses that it's endeavour of regulators to ensure incidents like the NSE colocation scam don't repeat and there are better ways to deal with the fallout
 "FSDC stresses on the need to monitor India's financial sector risks")
Top Headlines: Petro products export share rises; RBI rate hike, and more
With the price index surprising on the upside in August, many analysts have pencilled in a higher inflation print in September as well and accordingly expect the RBI to frontload policy rate hikes
 "Top Headlines: Petro products export share rises; RBI rate hike, and more")
Rupee slides as US CPI data stokes speculation of 100 bps Fed hike
Higher US interest rates typically leads to a stronger dollar and reduces the appeal of emerging market assets for global investors
 "Rupee slides as US CPI data stokes speculation of 100 bps Fed hike")
Expect $470-billion merchandise exports by year-end, says FIEO
Rupee trade mechanism with Russia to start soon, says FIEO
 "Expect $470-billion merchandise exports by year-end, says FIEO")
The new world of digital lending
The business model of the digital lenders has to change as they have lost their freedom to directly deal with the customers
Large corporates request RBI for customers' UPI data, says Dy Guv Sankar
Large corporates, including fintech, have requested the RBI on how they could access the data from UPI
 "Large corporates request RBI for customers' UPI data, says Dy Guv Sankar")
Players ready for migration as card-on-file tokenisation deadline nears
Tokenisation is the replacement of an actual or clear card number with an alternative code called the "token"
 "Players ready for migration as card-on-file tokenisation deadline nears")
Rupee doesn't need defending, it can take care of itself: CEA Nageswaran
Nageswaran said while international agencies were showing India's trend growth at 6%, the country could easily grow at 7% per annum for the rest of the current decade and beyond
RBI Sept monetary policy review: Another 35-50 bps repo rate hike on cards
Terminal repo rate seen at 6%; interest cost for retail, MSMEs went up by Rs 42,000 crore says SBI report
 "RBI Sept monetary policy review: Another 35-50 bps repo rate hike on cards")
India is not defending rupee, it can take care of itself: CEA Nageswaran
Chief Economic Advisor V Anantha Nageswaran said India is not defending the rupee and the RBI is taking steps to ensure that the movement of the rupee is gradual and in line with market trends
 "India is not defending rupee, it can take care of itself: CEA Nageswaran")
RBI may hike repo rates by 50 bps with inflation accelerating: Analysts
The Reserve Bank of India may raise interest rates by another 50 basis points this month after data showed inflation rose further above the central bank's tolerance limit in August, analysts said
RBI's expected soft landing for India means fast, if not fastest, growth
Economists see Reserve Bank of India Governor Shaktikanta Das and his monetary policy panel colleagues to begin dialing down the pace of interest-rate hikes this month
 "RBI's expected soft landing for India means fast, if not fastest, growth")
Retail inflation rises to 7% in Aug as food prices surge; IIP growth slows
FinMin blames adverse base effect, increase in food and fuel prices
 "Retail inflation rises to 7% in Aug as food prices surge; IIP growth slows")
State-owned lenders raise MCLR, month after third repo rate hike
RBI has increased benchmark policy rate by 140 bps cumulatively since May
 "State-owned lenders raise MCLR, month after third repo rate hike")
Buoyed by demand, banks want more long-term gilts, but RBI may not yield
Apart from long-term bonds, the market participants also requested the central bank to reduce issuance of floating-rate bonds and cap sizes of weekly primary auctions to Rs 30,000 crore
 "Buoyed by demand, banks want more long-term gilts, but RBI may not yield")
Data monetisation should have consumer consent: RBI deputy governor
Last month, the government withdrew the Personal Data Protection Bill from the Lok Sabha and IT Minister had said the Centre was hopeful of getting a new legislation passed by the next Budget Session
American Express India appoints Sanjay Khanna as chief executive officer
In his new role, Sanjay Khanna will be leading several business development initiatives for American Express, while steering collaboration across its diverse businesses in India
 "American Express India appoints Sanjay Khanna as chief executive officer")
