Page 52 - Latest Updates on Reserve Bank of India
Pre-paid card comeback may have bolstered the case for NBFCs' plastic play
With pre-paid card players back at the drawing board, the case for the entry of NBFCs into plastic may have got stronger
 "Pre-paid card comeback may have bolstered the case for NBFCs' plastic play")
Reserve Bank's DICGC to pay depositors of two co-operative banks in August
DICGC, a wholly-owned subsidiary of the RBI, provides an insurance cover of up to Rs 5 lakh on bank deposits
 "Reserve Bank's DICGC to pay depositors of two co-operative banks in August")
RBI pegs state govt market borrowing for July-Sept at Rs 2.1 trillion
Actual borrowings and state-wise breakup will be intimated 2-3 days prior to auction day; RBI to try and ensure auctions are held in non-disruptive manner considering mkt conditions
 "RBI pegs state govt market borrowing for July-Sept at Rs 2.1 trillion")
New project investments hint at road to normalcy, touch Rs 3.57 trn in Q1
Around Rs 87,000 crore worth of projects were completed in June 2022
 "New project investments hint at road to normalcy, touch Rs 3.57 trn in Q1")
Rupee breaches 79, sheds 0.9% this week as FII outflows, CAD worries grow
The rupee losses on Friday were, however, limited by dollar sales by exporters, who felt that the domestic unit may not fall much further, given the sharp depreciation seen this week
 "Rupee breaches 79, sheds 0.9% this week as FII outflows, CAD worries grow")
India's payment systems improve standing in global benchmarking exercise
The number of indicators describing the country as "weak" declined to eight from 12 in 2019
Pain for rupee likely as India's trade gap, capital outflows balloon
A shortfall in India's current account -- the broadest measure of trade -- will probably widen to 2.9% of gross domestic product in the fiscal year ending March 31
 "Pain for rupee likely as India's trade gap, capital outflows balloon")
PSBs back on growth path as India's economic recovery gains traction
While the impetus to double-digit credit growth was from wholesale lending, retail credit growth continued to be robust
 "PSBs back on growth path as India's economic recovery gains traction")
Rupee consolidates against dollar after sharp depreciation this week
Dealers say magnitude of RBI interventions slowed down over past couple of days
Robust credit growth continues, small and mid-size businesses gain
RBI data showed that credit to industry grew 8.7 per cent in May
 "Robust credit growth continues, small and mid-size businesses gain")
RBI's financial stability report flags risks with public debt profile
A credible strategy to ensure debt sustainability calls for reducing primary deficits, the central bank said in its Financial Stability Report
 "RBI's financial stability report flags risks with public debt profile")
Don't think today's situation calls for negative real rates: Jayanth Varma
Either inflation has to come down on its own or we will have to raise the rate, or it will be a combination of the two, says MPC member Varma
 "Don't think today's situation calls for negative real rates: Jayanth Varma")
Cryptocurrencies are a 'clear danger': RBI governor Shaktikanta Das
Indian fintech industry value projected to hit $150 bn by 2025
 "Cryptocurrencies are a 'clear danger': RBI governor Shaktikanta Das")
India's external debt rose to $620.7 bn in FY22, up 8% YoY: RBI data
India's external debt increased by USD 47.1 billion to USD 620.7 billion in the financial year ended March 2022, the Reserve Bank said on Thursday.
 "India's external debt rose to $620.7 bn in FY22, up 8% YoY: RBI data")
CRISIL upgrades IOB's Basel III compliant tier II bonds from 'A+' to 'AA-'
CRISIL, in a statement, said the capital position has been supported by regular fund infusion and expectation of strong support from the majority stakeholder, the government
 "CRISIL upgrades IOB's Basel III compliant tier II bonds from 'A+' to 'AA-'")
RBI fighting on several fronts to slow rupee's decline to fresh records
The rupee closed down 0.3% to 78.97 a dollar on Wednesday, extending this year's losses to 5.9%. RBI's stated stance is that it intervenes to curb currency volatility
 "RBI fighting on several fronts to slow rupee's decline to fresh records")
Confident of delivering value on bid for Citi India deal: Axis Bank's Moghe
India's third-largest private lending is purchasing the retail business in a transaction worth Rs 12,235 crore
 "Confident of delivering value on bid for Citi India deal: Axis Bank's Moghe")
Central banks need stronger communication in turbulent times: RBI governor
Even short-term forecasting has become a challenge due to pandemic, says Shaktikanta Das
 "Central banks need stronger communication in turbulent times: RBI governor")
Rupee ends at new low on relentless FII sell-off, slower RBI intervention
The analyst said the rupee may weaken to 79.10 per dollar in the coming days
 "Rupee ends at new low on relentless FII sell-off, slower RBI intervention")
RBI may need to tweak forex strategy, let rupee weaken, say analysts
To control the tumble, the Reserve Bank of India (RBI) has sold dollars in the spot market and simultaneously bought and sold in the forwards market.
