Page 47 - Latest Updates on Reserve Bank of India
Anumati - India's Fastest Growing Account Aggregator Network
Already has the largest number of banks on its platform, PSU banks joining steadily
Crypto markets rebound but assets future in India uncertain: Experts
From April 1, a 30 per cent tax was applied on income from the sale of cryptocurrency. From July 1, an additional 1 per cent tax was applied in the form of tax deducted at source (TDS)
 "Crypto markets rebound but assets future in India uncertain: Experts")
Rupee at 80: The Indian tradition of political involvement in exchange rate
Despite the Sangh Parivar's belief that a strong rupee is good, the govt has seen the wisdom of letting it depreciate gradually
Top Headlines: Rupee breaches 80/$ for 1st time, Right to Repair, and more
The rupee on Tuesday weakened past 80 per dollar for the first time but went on to recover lost ground
 "Top Headlines: Rupee breaches 80/$ for 1st time, Right to Repair, and more")
RBI hikes capital adequacy ratio for urban cooperative banks to 12%
Rule applies to banks with deposits above Rs 100 crore; glide path till March 2026, to meet revised CAR norm in phases for UCBs that do not meet it currently
 "RBI hikes capital adequacy ratio for urban cooperative banks to 12%")
Rupee breaches 80/$ for first time, settles at 79.95 after RBI intervention
The rupee has depreciated 7.01 per cent against the dollar this year
 "Rupee breaches 80/$ for first time, settles at 79.95 after RBI intervention")
PNB bond holdings of short maturity, less prone to rising yields: MD Goel
In a Q&A, Atul Kumar Goel says the lender has not sought any special dispensation from RBI to provide for MTM losses amid rising bond yields
 "PNB bond holdings of short maturity, less prone to rising yields: MD Goel")
US' return as leading source of Indian remittances mirrors pre-2008 trend
North America had a high share of remittances before the global financial crisis
 "US' return as leading source of Indian remittances mirrors pre-2008 trend")
Cross-border payment: Four firms complete test in RBI's 2nd sandbox cohort
The four entities are: Cashfree Payments, Fairex Solutions, Nearby Technologies, and Open Financial Technologies
 "Cross-border payment: Four firms complete test in RBI's 2nd sandbox cohort")
RBI imposes restrictions on Raigad Sahakari Bank, caps customer withdrawals
The RBI imposed several restrictions on Mumbai-based Raigad Sahakari Bank, including a withdrawal cap of Rs 15,000 per customer, due to deterioration in the financial condition of the lender
 "RBI imposes restrictions on Raigad Sahakari Bank, caps customer withdrawals")
Rupee declines to record low of 80.01 to a dollar as foreign funds exit
The currency has been buffeted by nearly $30 billion of foreign outflows from the nation's equities so far this year -- a record sum
 "Rupee declines to record low of 80.01 to a dollar as foreign funds exit")
YES Bank plans to invest Rs 350 cr in JC Flowers, raise $1 bn in FY23
JC Flowers has been named as the base bidder for bad loans worth Rs 48,000 crore of YES Bank
 "YES Bank plans to invest Rs 350 cr in JC Flowers, raise $1 bn in FY23")
Govt revives IPO plans for RRBs, asks sponsor banks to identify candidates
Sponsor banks - that hold about 35 per cent in RRBs - have been asked to handhold regional lenders at all stages from identification of merchant bankers to the conclusion of IPO
 "Govt revives IPO plans for RRBs, asks sponsor banks to identify candidates")
At around $1 bn, travel accounts for half of outward remittances in May
According to Reserve Bank of India (RBI) data, total remittances rose by 61.8 per cent year-on-year (YoY) to $2.03 billion in May 2022 from $1.25 billion in May 2021
 "At around $1 bn, travel accounts for half of outward remittances in May")
Global cooperation needed to regulate crypto: Sitharaman tells Parliament
RBI has called cryptocurrencies a 'real danger', listing their risk in its annual report
 "Global cooperation needed to regulate crypto: Sitharaman tells Parliament")
Govt draws up plan to bolster PSU bank boards, hold directors accountable
With amendments to banking Act, it seeks to notify tenure for chairman
 "Govt draws up plan to bolster PSU bank boards, hold directors accountable")
Remittances from Gulf countries dropped sharply in FY21 due to Covid: RBI
The share of inward remittances from Gulf nations dipped sharply during 2020-21 on account of the economic stress created by the COVID-19 pandemic, said an RBI article
 "Remittances from Gulf countries dropped sharply in FY21 due to Covid: RBI")
Front-loading monetary policy action can anchor inflation expectations: RBI
By front-loading rate hikes, RBI can cement the credibility of its monetary policy intent and action when it fights supply-side inflation on one hand and also contains the negative impact on growth
Muted impact of Fed's Taper 2 on India due to strong external position: RBI
The impact of US Federal Reserve's announcement in November last year to taper its asset purchases was "moderate" on Indian financial markets largely due to the country's strong external position
 "Muted impact of Fed's Taper 2 on India due to strong external position: RBI")
Worst of inflation may be behind us, RBI staff say in July 2022 Bulletin
According to the July Bulletin article, the current level of reserves were equivalent to 9.5 months of imports projected for 2022-23
