Page 53 - Latest Updates on Reserve Bank of India
Public sector banks request RBI on bond portfolios as yields harden
At its policy review in April, the RBI had increased the limit on HTM portfolios to 23 per cent of net demand and time liabilities till March 31, 2023
 "Public sector banks request RBI on bond portfolios as yields harden")
Hitch a ride on a fixed-rate car loan and shield yourself from another hike
But lenders can impose restrictive conditions on prepayment and foreclosure
 "Hitch a ride on a fixed-rate car loan and shield yourself from another hike")
Visa creates 100 mn card-on-file tokens following RBI norms last week
The landmark has been achieved in line with RBI's guidelines focusing on security and enhanced checkout experience, said Visa
 "Visa creates 100 mn card-on-file tokens following RBI norms last week")
Govt looking for complete exit with the help of PSB Privatisation Bill
The government is mulling an amendment that will allow the Centre a total exit from banks, fully privatising PSBs, a report said
 "Govt looking for complete exit with the help of PSB Privatisation Bill")
The RBI is no fan of 'buy now, pay later' and it's wholly understandable
Last week, the Reserve Bank of India brought out its regulatory axe and hacked away at a popular path to small-ticket fintech loans
 "The RBI is no fan of 'buy now, pay later' and it's wholly understandable")
Credit card spend hits new high in May; bounce rates by value at 3-year low
The surge in card additions was led by HDFC Bank, Axis Bank, SBI Card, and ICICI Bank
 "Credit card spend hits new high in May; bounce rates by value at 3-year low")
Top headlines: Zomato to acquire Blinkit, PPI ban to hit BNPL users & more
The move could also result in a systemic risk from a lending standpoint because if suddenly the products are stopped, it may not be possible for customers to repay their loans
 "Top headlines: Zomato to acquire Blinkit, PPI ban to hit BNPL users & more")
The RBI MPC serves no purpose other than cosmetic and should be dismantled
There are two insurmountable hurdles in the path of RBI's independence on monetary policy. These hurdles make committees redundant
RBI examining PPI credit, BNPL models; in talks with fintechs on concerns
The central bank is looking at a framework that can exist without hampering pace of innovation, even as it addresses consumer protection and cyber security concerns
 "RBI examining PPI credit, BNPL models; in talks with fintechs on concerns")
RBI acts in forwards market to protect forex reserves, pulls down premiums
This move by the central bank results in premiums crashing
 "RBI acts in forwards market to protect forex reserves, pulls down premiums")
India's forex reserves drop $5.9 bn in a week as RBI sells dollars
In two weeks, the country's foreign exchange reserves have dropped over $10 billion as the central bank stepped up intervention in the foreign exchange market
 "India's forex reserves drop $5.9 bn in a week as RBI sells dollars")
Signs that inflation is peaking amid global monetary policy action: Patra
The RBI Dy Governor says war in Europe threatens to 'snuff out' global economic recovery post the Covid-19 pandemic
 "Signs that inflation is peaking amid global monetary policy action: Patra")
Net profits of manufacturing companies surged by 50.2% in FY'22: RBI
Net profit also increased for the information technology (IT) companies, whereas the non-IT services sector continued to record losses at the aggregate level
 "Net profits of manufacturing companies surged by 50.2% in FY'22: RBI")
PPI credit ban likely to hit 8-10 million BNPL users, says industry
Industry fears it may lead to systemic risk from a lending standpoint
 "PPI credit ban likely to hit 8-10 million BNPL users, says industry")
RBI explores ways to ensure customer safety while dealing with PPIs
Earlier this week, RBI issued an advisory clarifying that non-bank PPI issuers cannot load their wallets and cards from credit lines or preset borrowing limits
 "RBI explores ways to ensure customer safety while dealing with PPIs")
Fintechs seek 1 yr sunset clause on RBI's PPI issuer credit lines directive
Earlier this week, the RBI directed the non-bank prepaid payment instrument (PPI) issuers to stop providing credit lines on such PPI cards and asked them to stop the practice immediately
Large merchants comply with card tokenisation as deadline nears: Report
The RBI had directed the merchants to implement its tokenisation norms by June 30, 2022. The central bank has twice extended the deadline of its implementation in the past.
 "Large merchants comply with card tokenisation as deadline nears: Report")
RBI policy action likely to be moderate than other nations: Michael Patra
Speaking at a session on 'Geo-Political Spill-overs and Indian Economy' at PHDCCI here, Patra said there are indications that inflation may be peaking
Fintech firms seek six month-extension to comply with RBI credit line norms
RBI had barred the loading of prepaid payment instruments (PPIs) from credit lines
 "Fintech firms seek six month-extension to comply with RBI credit line norms")
War in Europe may snuff out global recovery: RBI Dy Governor Michael Patra
Says monetary policy decisions by central banks around the world aimed at their own constituencies. But since inflation is the biggest policy issue right now, it seemed coordinated
