Page 56 - Latest Updates on Reserve Bank of India
Millath cooperative bank's licence cancelled; depositors to get full amount
Karnataka lender doesn't have adequate capital or earning prospects, says RBI in statement.
 "Millath cooperative bank's licence cancelled; depositors to get full amount")
Payments Vision 2025: RBI aims to regulate BigTech, FinTechs, BNPL services
Titled "Payments Vision 2025", this document aims to provide every user safe and affordable e-payment options
Defer, reschedule or switch loan if EMIs have increased: Experts
Here are four ways to deal with a rising EMI burden, all of which will, however, require hard negotiations with the lender
 "Defer, reschedule or switch loan if EMIs have increased: Experts")
India's foreign exchange reserves decline $4.6 billion to $596 billion
RBI has been selling dollars to curb any rapid depreciation of the rupee
 "India's foreign exchange reserves decline $4.6 billion to $596 billion")
Targeting 'soft landing' for economy: RBI governor Shaktikanta Das
He countered arguments that the central bank should have acted early to tackle the price rise and that it was behind the curv
 "Targeting 'soft landing' for economy: RBI governor Shaktikanta Das")
Forex reserves down $4.5 billion to $596.4 billion, shows RBI data
During the week ended June 10, the fall in the forex reserves was on account of a dip in Foreign Current Assets (FCAs), a major component of the overall reserves
 "Forex reserves down $4.5 billion to $596.4 billion, shows RBI data")
RBI not behind curve, focus on inflation target could have been risky: Das
I feel that we are very much in line with the requirements of our time, the RBI has acted proactively: Shaktikanta Das
 "RBI not behind curve, focus on inflation target could have been risky: Das")
Will issue guidelines to make digital lending ecosystem safer: RBI Guv
Speaking on inflation, Guv Das said that had the monetary policy been tighter, the economic damage would have been enormous
 "Will issue guidelines to make digital lending ecosystem safer: RBI Guv")
Reserve Bank of India turns net buyer of dollars in April, shows data
According to the latest data, the RBI purchased $1.96 billion in April
 "Reserve Bank of India turns net buyer of dollars in April, shows data")
First tranche of 2022-23 gold bonds to open for subscription on June 20
The RBI further said that the second tranche (2022-23 Series II) will be available for subscription during August 22-26, 2022
 "First tranche of 2022-23 gold bonds to open for subscription on June 20")
Banks' gross NPA drop below 6% in March 2022, lowest in six years
Health of the sector is encouraging: Deputy guv
 "Banks' gross NPA drop below 6% in March 2022, lowest in six years")
India better placed to avoid stagflation risk, says RBI report
Paints an encouraging picture of economic activity gaining strength, with most GDP constituents exceeding their pre-pandemic levels
 "India better placed to avoid stagflation risk, says RBI report")
RBI increases limit of e-mandates for transactions up to Rs 15,000
Reserve Bank of India has, over the past decade, put in place various safety and security measures for card payments, including the requirement of AFA, especially for 'card-not-present' transactions
States showing warning signs of stress; need corrective action: RBI article
Observing that the slowdown in own tax revenue, a high share of committed expenditure and rising subsidy burdens have stretched state government finances already exacerbated by Covid, the article said
 "States showing warning signs of stress; need corrective action: RBI article")
India better placed than many others to avoid stagflation: RBI article
The article noted that global economic conditions continue to deteriorate as ratcheting up of commodity prices and financial market volatility have led to heightened uncertainty
India proposes settling Russia trade in rupees as purchases rise: Report
New Delhi plans to use about $2 billion equivalent of rupees deposited at Russia's state-controlled VTB Bank PJSC and Sberbank of Russia PJSC
 "India proposes settling Russia trade in rupees as purchases rise: Report")
Early assessment of banking sector health encouraging: RBI deputy guv
"The asset quality of banks has improved and the gross NPAs and net NPAs of the banks have improved from the pre-pandemic levels," Rao said
Inadequate infrastructure continues to impede IBC implementation
A paper by the Insolvency and Bankruptcy Board of India (IBBI) said the time taken between filing of an insolvency application and its admission increased to 650 days in financial year 2021
 "Inadequate infrastructure continues to impede IBC implementation")
Equitas Small Finance Bank gets RBI nod to reappoint Vasudevan as MD & CEO
Earlier in May this year, ESFB founder and CEO Vasudevan P N had asked the lender to look for his successor as he wanted to step down to pursue "a distinct set of goals"
 "Equitas Small Finance Bank gets RBI nod to reappoint Vasudevan as MD & CEO")
Policymakers look to rains, not just rates, to cool hot inflation: Report
Like its international peers, the Reserve Bank of India is expected raise rates aggressively over the next year to take some of the heat out of prices
 "Policymakers look to rains, not just rates, to cool hot inflation: Report")
