Page 6 - Rbi Policy
Bond yields rise for second month; key central bank meetings in focus
India's retail inflation stood at 7.41% in September, higher than the 2%-6% target zone for the ninth straight month
 "Bond yields rise for second month; key central bank meetings in focus")
Credit card base of major issuers erodes in Q2 over RBI's norms
SBI Card was exception as gains card base, market share
 "Credit card base of major issuers erodes in Q2 over RBI's norms")
Upbeat mood in India decoupled from pessimism in rich countries
To combat the cost of living crisis, the central banks of most countries have raised interest rates and curbed excess money supply
RBI release suggests Nov MPC meet only to discuss inflation target failure
MPC may decide RBI's response to govt on the matter; Unlike earlier off-cycle meetings in which interest rate action was taken outside schedule without prior notice, this one was announced in advance
 "RBI release suggests Nov MPC meet only to discuss inflation target failure")
Inflation above target: MPC to meet on Nov 3 to discuss response to govt
The announcement notifying an additional meeting of the MPC has been made as per Section 45ZI (4) of the RBI Act 1934, the RBI said on Thursday
 "Inflation above target: MPC to meet on Nov 3 to discuss response to govt")
RBI's liquidity infusion largest since April 2019 as surplus cash dries up
Lack of repo suggests RBI tolerance of higher money mkt rates: Analysts
 "RBI's liquidity infusion largest since April 2019 as surplus cash dries up")
TMS Ep288: Samvat 2079, T20 World Cup 2022, Rakesh Mohan, disaster relief
What's in store for the markets this week? What makes T20 World Cup 2022 different? What's economist Rakesh Mohan's view on inflation? What is a disaster relief fund? All answers here
 "TMS Ep288: Samvat 2079, T20 World Cup 2022, Rakesh Mohan, disaster relief")
What is leading economist Rakesh Mohan's view on inflation?
How will global slowdown affect India? When will RBI's steps to rein-in inflation start show results? Former RBI deputy governor Rakesh Mohan answer these in a conversation with Business Standard
 "What is leading economist Rakesh Mohan's view on inflation?")
RBI should focus on softening core inflation: MPC's Shashanka Bhide
"As far as monetary policy is concerned, moderation in the core inflation should be the priority," Shashanka Bhide, an external member of the Reserve Bank of India's monetary policy committee, said
 "RBI should focus on softening core inflation: MPC's Shashanka Bhide")
Domestic buying powering Indian equities but stocks yet to feel tight money
After recent downgrades, stocks comprising the country's benchmark Nifty Index are forecast to deliver around 15% higher income over the next 12 months than at the start of 2020
 "Domestic buying powering Indian equities but stocks yet to feel tight money")
Administrator seeks RBI nod to restructure Reliance Capital into four CICs
Will help bidders for its insurance business to avoid Irdai's 5-year lock-in
 "Administrator seeks RBI nod to restructure Reliance Capital into four CICs")
Rupee declines 0.8%, closes at fresh all-time low of 83 vs US dollar
Analysts say RBI is allowing the depreciation amid wider CAD and higher US interest rates
 "Rupee declines 0.8%, closes at fresh all-time low of 83 vs US dollar")
India's policy hawk sees end of aggressive hikes amid growth fears
India's most hawkish rate-setter said the policy rate was reaching a level that allows past aggressive action to cool inflation without inflicting too much pain on the economy
 "India's policy hawk sees end of aggressive hikes amid growth fears")
As RBI spreads out Fx interventions, forward premium hits 11-year lows
The central bank looks to protect headline reserves, deter offshore/onshore arbitrage on Rs with buy-sell swaps in forex market
 "As RBI spreads out Fx interventions, forward premium hits 11-year lows")
Indians remitted $2.67 billion in August under LRS scheme, shows data
According to RBI data, in August, Indians remitted $467.52 million for overseas education, $330.70 million for maintenance of close relatives, and $221.31 million in gifts.
 "Indians remitted $2.67 billion in August under LRS scheme, shows data")
India's real rate shouldn't be more than 1%: MPC member Ashima Goyal
In a Q&A, she says the interest differential with US does not matter so much because India has caps on interest sensitive inflows. Overseas investment is a very low share of the country's debt market
 "India's real rate shouldn't be more than 1%: MPC member Ashima Goyal")
Sharp differences among MPC members on future interest rate hikes
The next review of the monetary policy committee is scheduled on December 5-7
 "Sharp differences among MPC members on future interest rate hikes")
After RBI missive, FIDC asks NBFCs to revise codes of conduct
Has asked them to insert penalty cause for repeated breaches
 "After RBI missive, FIDC asks NBFCs to revise codes of conduct")
RBI norms on unhedged Fx exposure unlikely to impact banks much
In June, the RBI had said that of the outstanding ECBs of $180 billion, 44 per cent was unhedged
 "RBI norms on unhedged Fx exposure unlikely to impact banks much")
September CPI inflation at 7.41 per cent: How analysts interpret the number
Analysts at UBS expect headline CPI inflation to average 6.7 per cent YoY in FY23 and see RBI's policy outlook to be data dependent contingent on the Fed action
 "September CPI inflation at 7.41 per cent: How analysts interpret the number")
