Page 46 - Latest Updates on Reserve Bank of India
RBI 'correct' to use FX reserves to tackle rupee volatility: Econ adviser
The RBI is justified in using the country's foreign exchange reserves to smooth out volatility in the rupee's moves against the dollar, a member of the Economic Advisory Council said
 "RBI 'correct' to use FX reserves to tackle rupee volatility: Econ adviser")
Banks flag concerns on rupee, floating rate bonds ahead of RBI policy
The discussions were held ahead of the RBI's next monetary policy statement, scheduled August 5
 "Banks flag concerns on rupee, floating rate bonds ahead of RBI policy")
Amount involved in bank fraud declines to Rs 3,785 crore in FY22: Karad
As per the RBI data, frauds involving the amount of Rs 11,800 crore were detected in 2020-2021, the Minister of State for Finance said in a written reply to the Lok Sabha.
 "Amount involved in bank fraud declines to Rs 3,785 crore in FY22: Karad")
Tactile features included in currency for visually impaired persons: RBI
The Reserve Bank of India (RBI) on Monday told the Bombay High Court it has included several tactile features in currency notes for the visually impaired.
 "Tactile features included in currency for visually impaired persons: RBI")
As rupee continues to slide, RBI may be back to spot intervention
Reserve Bank of India's foreign-exchange reserves have fallen by about $30 billion since the end of May to $573 billion, according to its data
 "As rupee continues to slide, RBI may be back to spot intervention")
Axis Bank Q1 result today: A look at the numbers in the last four quarters
Axis Bank Q1 Results: In FY22, the bank doubled its net profit to Rs 13,025 crore. The operating profit of the bank grew by 13 per cent YOY & 5 per cent QOQ, in Q4FY22
 "Axis Bank Q1 result today: A look at the numbers in the last four quarters")
Rupee at 80: What can be done?
We need to maintain the gap of interest rate differential with the US by raising rates in a measured way and allow the rupee to find its own level
 "Rupee at 80: What can be done?")
RBI imposes Rs 57.75-lakh penalty on Suryoday Small Finance Bank
"This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon validity of any transaction or agreement entered into by the bank with its customers," RBI said
No plan to pass interest rate hike to MFI customers: Suryoday SFB's Babu
R Baskar Babu, managing director & chief executive officer of Suryoday Small Finance Bank, tells Manojit Saha in an interview that the regulator wants these lenders to rebalance the portfolio
 "No plan to pass interest rate hike to MFI customers: Suryoday SFB's Babu")
Digital lending firms should operate under licence granted: RBI governor
Central bank last month banned the loading of prepaid payment instruments from credit lines
 "Digital lending firms should operate under licence granted: RBI governor")
YES Bank's deal with Carlyle, Advent on $1 bn stake investment gathers pace
Carlyle's top executives and Advent's leaders in a series of meetings with Yes Bank and SBI's senior management, and RBI officials this week decided the contours of the investment plan
 "YES Bank's deal with Carlyle, Advent on $1 bn stake investment gathers pace")
Indian economy relatively better placed amid grim global scenario: RBI Guv
"RBI has been supplying US dollars to the market to ensure adequate supply of liquidity," Governor Shaktikanta Das said
 "Indian economy relatively better placed amid grim global scenario: RBI Guv")
India's FY23 growth forecast cut to 7%, RBI to stay hawkish: FICCI
The Indian economy is expected to expand 7% in fiscal 2022/23, slower than a previous estimate of 7.4% and the central bank's 7.2% projection, according to a survey by India's leading industry body.
 "India's FY23 growth forecast cut to 7%, RBI to stay hawkish: FICCI")
Next pain point for the rupee: $79 billion of unhedged offshore loans
The nation's firms had $79 billion of unhedged offshore loans at the end of March, about 44% of their total overseas borrowings, according to the latest data from the Reserve Bank of India
 "Next pain point for the rupee: $79 billion of unhedged offshore loans")
India's economic recovery falters as high prices, falling rupee bite
India's economic activity showed early signs of cooling off in June as acute price pressures, rising interest rates, and a falling rupee dampened sentiment after a strong showing the previous month
 "India's economic recovery falters as high prices, falling rupee bite")
RBI renews statement of commitment to global code on best market practices
The FX Global Code, developed under Bank for International Settlements, Basel, compiles the practices formulated by central banks worldwide
 "RBI renews statement of commitment to global code on best market practices")
Banks urge RBI to extend HTM leeway beyond Mar 2023 as bond losses pile up
Bankers have sought permission to park a larger quantum of securities in the portfolio than is currently permitted amid an environment of rising bond yields.
 "Banks urge RBI to extend HTM leeway beyond Mar 2023 as bond losses pile up")
RBI should come up with on-tap licences for UCBs, says Satish Marathe
The revised guidelines on UCB proposed a four-tiered regulatory framework with differentiated regulatory prescriptions aimed at strengthening the financial soundness of the existing UCB
 "RBI should come up with on-tap licences for UCBs, says Satish Marathe")
Rupee closes shy of 80/$ as RBI shields currency, exporters sell dollars
The rupee settled at 79.99 per dollar on Wednesday - a fresh closing low for the Indian unit versus the greenback
 "Rupee closes shy of 80/$ as RBI shields currency, exporters sell dollars")
'RBI's rupee trade settlement a step towards internationalisation of rupee'
The announcement by the Reserve Bank of India (RBI) to allow cross border trade transactions in rupee is a timely move and a step towards internationalisation of the currency, according to experts.
 "'RBI's rupee trade settlement a step towards internationalisation of rupee'")
