Reserve Bank

Union Home Minister Amit Shah announced that the committee will be led by the Additional Director General (ADG) of the Border Security Force (BSF) for the Eastern Command

The finance ministry has initiated the process to appoint a new Reserve Bank deputy governor in place of MK Jain, whose extended term is coming to an end in June. The applicant should have an experience of 15 years in banking and financial market operations, said a public notice, indicating that candidates from the private sector will also be considered for the appointment. Traditionally, one of the four deputy governors is from the public sector banking industry. If the government decides to appoint someone from the private sector, it would be a first for the Reserve Bank of India. Jain, a senior public sector banker, was appointed deputy governor for an initial period of three years in 2018 and extended by another two years in 2021. The central bank has four deputy governors - two from within the ranks and one commercial banker and an economist to head the monetary policy department. "It may be noted that the Financial Sector Regulatory Appointments Search Committee (FSRASC) is

RBI MPC: Shaktikanta Das said that the repo rate hike of 25 bps is considered appropriate at this juncture but the monetary policy will remain agile to inflation

Annual retail inflation edged down in December from the previous month and remained within the central bank's comfort zone 2%-6% range for a second consecutive month

Banks extended loans of almost Rs 1.5 trillion during the fortnight ended December 30

The Jan. 4-9 poll of 45 economists put consumer price inflation at 5.90% in December from a year earlier, little changed from an eleven-month low of 5.88% in November

The RBI looks comfortable with the current level of forward premiums, especially since it has lifted informal restrictions on banks for trading in the non-deliverable forward (NDF) market

Sushmita Shukla, an Indian-origin veteran of the insurance industry, has been appointed as First Vice President and Chief Operating Officer at the Federal Reserve Bank of New York, making her the second-ranking officer at the prominent institution. The appointment was approved by the Board of Governors of the Federal Reserve System, the New York Fed said in a statement Thursday. Shukla, 54, has been appointed by the Board of Directors of the Federal Reserve Bank of New York as First Vice President and Chief Operating Officer, effective March 2023. As First Vice President, Shukla, who has an MBA from New York University and a bachelor's degree in electrical engineering from the University of Mumbai, will be the New York Fed's second-ranking officer. Shukla said in the statement that she is honoured to have the opportunity to work for a mission-driven organisation like the New York Fed. I look forward to applying all that I've learned in my career including my technology, operation

Indian entities can hedge their exposure to gold price risk in overseas markets on recognised exchanges in the International Financial Services Centre, Gujarat, said RBI Governor Shaktikanta Das

The fall in foreign exchange reserves was primarily on account of a decline in the RBI's foreign currency assets that fell $2.8 billion on-week to $468.87 billion

India's foreign exchange reserves fell to $532.66 billion in the week through Sept. 30, their lowest level since July 2020, the Reserve Bank of India's (RBI) weekly statistical supplement showed

Banks' loans rose 16.4% in the two weeks to Sept. 23 from a year earlier, while deposits rose 9.2%, the Reserve Bank of India's weekly statistical supplement showed on Friday.

Reserve Bank Governor Shaktikanta Das on Thursday launched a new 'SupTech' initiative DAKSH - the bank's Advanced Supervisory Monitoring System, which is expected to make the supervisory processes more robust. In a statement, the Reserve Bank of India (RBI) said it has been taking various initiatives in strengthening supervision, which among other initiatives include adoption of latest data and analytical tools as well as leveraging technology for implementing more efficient and automated work processes. "DAKSH is a web-based end-to-end workflow application through which RBI shall monitor compliance requirements in a more focused manner with the objective of further improving the compliance culture in Supervised Entities (SEs) like Banks, NBFCs, etc," it said. The application will also enable seamless communication, inspection planning and execution, cyber incident reporting and analysis, and provision of various MIS reports, among others, through a platform which enables ...

About 35 crore cards have been tokenised and the system is ready for the new norms which set in from October 1, the Reserve Bank said on Friday. There are a few laggards in the system who have not complied with the mandate because of their unwillingness, Deputy Governor T Rabi Sankar said, expecting them to comply soon. The RBI is making tokenisation of cards mandatory from October 1 onwards in order to improve customer safety. Tokenisation entails replacing credit and debit card details with an alternate code called the token to improve security. The RBI has been repeatedly extending the deadline for its adoption. "...the system is ready. Roughly 35 crore tokens have already been created," Sankar said, when asked if there will be another extension of the deadline. He said about 40 per cent of the overall transactions in September were on tokens and the value transacted was Rs 63 crore. As per official data, the total number of debit and credit cards in the system stands at over 1

US dy secretary of treasury Wally Adeyemo meet FM Sitharaman during the final lap of his three-day trip to India, after visiting RBI governor Shaktikanta Das on Thursday

The ban imposed by the RBI may impact loans worth Rs 35,000 crore, impacting power, healthcare, engineering & construction, and road sectors the most

Bharat Bill Payment System (BBPS), under the aegis of the RBI, allows recurring utility bill payments through an integrated platform

The slew of measures announced by Reserve Bank of India (RBI) on Wednesday to enhance foreign exchange inflows should help rupee to outperform its peers in emerging market economies, experts said. RBI said it has been closely and continuously monitoring the liquidity conditions in the forex market and has stepped in as needed in all its segments to alleviate dollar tightness with the objective of ensuring orderly market functioning. It announced five measures to enhance foreign exchange inflows. The Indian rupee, RBI said has depreciated by 4.1 per cent against the US dollar during the current financial year so far (up to July 5), which is modest relative to other EMEs and even major Advanced Economies (AEs). Abhishek Goenka, CEO of IFA Global, said that in a nutshell, RBI has tried to boost short-term dollar inflows with the latest measures. Vivek Kumar, Economist at QuantEco Research, said persistent pressure on rupee has prompted the central bank to diversify its defence strate

Seven states accounted for 63.3% of overall deposits; share of female holdings in incremental deposits more than doubled

SFBs were advised to continue to evolve in tune with the differentiated banking licence given to them with proportionate growth in their capital base.