Page 54 - Latest Updates on Reserve Bank of India
RBI's credit line norms: Card-based fintech players may have to stop offers
Some of the players expected to take a hit due to the RBI's diktat are Slice, Uni Cards, Jupiter, EarlySalary, etc
 "RBI's credit line norms: Card-based fintech players may have to stop offers")
Inflation likely to exceed top of RBI band until December: Shaktikanta Das
India's central bank is on course to bring down prices but the retail inflation rate is likely to remain above the top end of its mandated target band until December, Governor Das said in an article
 "Inflation likely to exceed top of RBI band until December: Shaktikanta Das")
Top Headlines: India Inc on GST issues, RBI's credit line norms & more
In the light of RBI not permitting the loading of PPIs from credit lines, card-based fintech players may have to stop their offers until the central bank clears the air on some issues
 "Top Headlines: India Inc on GST issues, RBI's credit line norms & more")
Former SBI official appointed member of advisory committee of SIFL & SEFL
The RBI Venkat Nageswar Chalasani, former Deputy Managing Director of SBI, as a member of the Advisory Committee of SIFL and SEFL on Thursday
 "Former SBI official appointed member of advisory committee of SIFL & SEFL")
RBI warns of risks from cross-border outsourcing of IT services
The RBI's observations come at a time when it is considering a mandate for domestic processing of payment transactions in order to ring-fence India's local payment systems
 "RBI warns of risks from cross-border outsourcing of IT services")
Who doesn't want growth?
The RBI, however, cannot use the growth argument to justify inflation
 "Who doesn't want growth?")
Invest in dynamic bond funds to navigate impact of interest rate cycle
They outshine short-duration funds: Fund managers
 "Invest in dynamic bond funds to navigate impact of interest rate cycle")
Decoded: The tizzy over RBI's ban on loading PPIs from credit lines
PPIs are instruments that facilitate the purchase of goods and services, conduct of financial services, enable remittance facilities, etc., against the value stored in them
 "Decoded: The tizzy over RBI's ban on loading PPIs from credit lines")
Private banks are better money managers, state-owned lenders grow faster
They witnessed higher gains from parking funds with RBI and income from investments; as rates rise, space for both would shrink
 "Private banks are better money managers, state-owned lenders grow faster")
RBI proposes norms for outsourcing of IT services by banks, NBFCs
Regulated entities (REs) will not require prior approval from the central bank for the outsourcing of IT and IT-enabled services
 "RBI proposes norms for outsourcing of IT services by banks, NBFCs")
Fall in onshore forward premiums could push Indian rupee even lower
On Wednesday, the rupee touched a record low of 78.39 against the dollar despite a sharp fall in global crude oil prices, pushing forward premiums down
 "Fall in onshore forward premiums could push Indian rupee even lower")
Reserve Bank likely to raise interest rates twice before weighing a pause
June's jumbo hike, which followed a 40 basis points increase in May, is prompting analysts from Nomura Holdings Inc. and Barclays Plc to pencil in a 35 basis-point move in August
RBI may have boosted forwards intervention to slow rupee fall, save reserve
The Reserve Bank of India has run down its forward-dollar book by $12 billion to $15 billion from about $64 billion at the end of April
 "RBI may have boosted forwards intervention to slow rupee fall, save reserve")
MPC members indicate more rate hikes to tackle rising inflation
The rate-setting committee has increased the policy repo rate by 90 basis points in May and June, to 4.9 per cent
 "MPC members indicate more rate hikes to tackle rising inflation")
Amid geo-political risks, RBI mulls domestic processing of transactions
In its Payments Vision Document released last week, the RBI said keeping in view the emerging geo-political risks, options would be explored to ring-fence domestic payment systems
CAD reduces sequentially to 1.5% of GDP in Q4 as trade deficit moderates
The current account was in deficit to the tune of $ 8.1 billion (1 per cent of GDP) a year ago (Q4 of FY21)
 "CAD reduces sequentially to 1.5% of GDP in Q4 as trade deficit moderates")
RBI aim is to not have over-tightening or over-stimulus: MPC's Ashima Goyal
Central bank has to target inflation but with 'awareness of nuances',' she says in interview.
 "RBI aim is to not have over-tightening or over-stimulus: MPC's Ashima Goyal")
Govt won't offer tax waivers to be part of global bond index sooner
Under existing rules, an overseas investor is required to pay a short-term capital gains tax of 30% if a listed bond is sold within 12 months
 "Govt won't offer tax waivers to be part of global bond index sooner")
Economy to grow 7.5% in FY23, will be world's fastest growing: PM Modi
The prime minister also said his government has brought about transformative changes to enable technology-led growth, in sectors such as space, new economy, green energy, and data
 "Economy to grow 7.5% in FY23, will be world's fastest growing: PM Modi")
Fiscal weakness
State finances can impede growth
 "Fiscal weakness")
