Page 11 - Rbi

Banks can see rise in bad loans from retail, small businesses: SBI official

While loans to this segment have been growing fast, defaults have thus far been few

Real interest rate of about 1% appropriate for Indian economy: Ashima Goyal

"You don't need to keep on raising nominal rates as long as inflation does not come down because then you will definitely overshoot in terms of real rates," Goyal said

Top headlines: FDI equity inflow contracts, no increment for Flipkart execs

Business Standard brings you the top headlines at this hour

RBI onshore, offshore intervention helps rupee outperform: Traders

The rupee was little changed at 82.80 on the day despite an overnight jump in U.S. Treasury yields, after an unexpected rebound in U.S. business activity

Rate hike not warranted as economic growth worries: RBI MPC minutes

Two of the three external members on the Reserve Bank Monetary Policy Committee (MPC) were not in favour of raising the key interest rate this month with one of them saying it was "not warranted" as inflationary expectations were diminishing and economic growth remained a concern. External members Jayanth R Varma and Ashima Goyal were not in favour of raising rates any further, according to the minutes of the February 6-8 MPC meeting released by the RBI on Wednesday. The third external member Shashanka Bhide went along with the three Reserve Bank members and voted for raising the key policy rate for the sixth time in a row. "In the second half of 2021-22, monetary policy was complacent about inflation, and we are paying the price for that in terms of unacceptably high inflation in 2022-23," Varma said as per the minutes. In the second half of 2022-23, monetary policy has, in his view, become complacent about growth, and "I fervently hope that we do not pay the price for this in te

Global uncertainty complicates fight against inflation: RBI Dy Governor

The continuing global uncertainity has complicated the fight against inflation, opined Reserve Bank Deputy Governor Michael Debabrata Patra during the Monetary Policy Committee meeting held on February 8. According to the minutes of the MPC meeting released on Wednesday, RBI Governor Shaktikanta Das also mentioned that there is considerable uncertainty due to a host of global factors such as rising non-oil commodity prices. The RBI on February 8 hiked the key short-term lending rate by 25 basis points to 6.5 per cent, citing sticky core inflation. It was the sixth interest rate hike by the Reserve Bank of India (RBI) since May last year, taking the total quantum of increase to 250 basis points. "The fight against inflation is complicated by the global outlook. There is some consensus growing around a milder slowdown than earlier feared, although geographical disparities complicate the prognosis. Be that as it may, the outlook for global inflation is turning more uncertain than ...

RBI-MPC may go for 25bps policy rate hike in April, says Acuite Ratings

Credit rating agency Acuite Ratings and Research said the Reserve Bank of India (RBI) will continue with monetary tightening and will hike the policy rate by 25 basis points (bps).

Sticky inflation to nudge RBI to hike interest rates once more: Poll

The survey also showed inflation was likely to remain sticky at 6.00% this quarter, higher than the RBI's forecast of 5.70%

Indians spend over $1 bn every month on foreign travel: RBI data

Indians are spending nearly USD 1 billion every month on foreign travel which is significantly more than the pre-Covid levels, reveals Reserve Bank data on outward remittances. During the April-December period of 2022-23, the outward remittances under the Liberalised Remittance Scheme (LRS) for resident individuals towards 'travel' was USD 9.95 billion. The corresponding spending on travel during 2021-22 was USD 4.16 billion, and USD 5.4 billion in the pre-Covid year 2019-20, according to the RBI data. The outward remittances towards travel were USD 7 billion in the entire 2021-22 financial year. "Indians are roaming across the world with their families or friends. Vietnam, Thailand, Europe, and Bali are some major destinations that Indians prefer," said Sapan Gupta, Partner, We3Online. Europe, Indonesia, Vietnam, Thailand, and Dubai are some of the major destinations that Indians prefer. Akash Dahiya, Co-founder, SanKash said that with the rise of affordable travel and technologi

Nearly a dozen fintech startups moved to IFSCA innovation sandbox

The regulatory sandbox initiative is to encourage fintech services across the spectrum of banking, insurance, securities and fund management

RBI may set cutoff yield on 10-yr state bonds in 7.69%-7.71% band: Poll

Indian states will aim to raise an aggregate of 207.37 billion rupees ($2.51 billion) on Tuesday through the sale of bonds maturing between seven years and 30 years

Banks request RBI to extend reporting time frame for loan related fraud

The framework mandates that banks report fraud to the RBI CRILC within a week of the joint lenders' forum (JLF) declaring an account fraudulent

India, China to contribute more than half of global growth this year: IMF

IMF added that the central banks across Asia need to stay 'alert' as the core inflation is still high, and the re-opening of China's economy may push inflation up due to higher demand

FM Nirmala Sitharaman defends RBI: 'Reining in inflation, capital outflows'

India's retail inflation reversed its downward trend in January at 6.52 per cent and once again breached the central bank's upper tolerance limit

Reserve Bank of India tightens norms for ARCs on income recognising fee

They will have to reduce unrealised management fees where the net asset value of the Security Receipts has fallen below 50 per cent of the face value

State Bank of India issues Rs 4.5K-crore in AT1, half of the amount planned

Bonds allocated at coupon of 8.2% with call option on Feb 2033

Are the markets ignoring the possibility of higher inflation?

Globally, too, sticky inflation seems to be a cause for concern. Last week, two Federal Reserve (US Fed) officials suggested that the US central bank may need to keep interest rates elevated ahead

Banks, financial institutions should safeguard banking security, says RBI

In view of the cybersecurity risk posed to the banking sector, Reserve Bank of India Executive Director Rohit Jain on Monday asked banks and financial institutions to adequately resource the banking security structure. He also underlined the need to be prepared for the potential impact of the emergence of cloud computing and Internet of Things (IoT) in banking. The senior RBI official was delivering a keynote address during a panel discussion on cybersecurity in the run-up to the first G20 Finance Ministers and Central Bank Governors (FMCBG) meeting and Finance and Central Bank Deputies (FCBD) here in Bengaluru from February 22 to 25. Security by design needs to be embedded as part of banking processes, and security controls should be conceived and implemented, he said. "Keeping in view the emerging environment and the risks involved, the information security function should be adequately resourced in terms of number of staff, level of expertise, the usage of tools and techniques,

RBI will take required action to keep inflation in check: FM Sitharaman

In a recent report the RBI said that the retreat of inflation is expected to be stubborn and beset by supply shocks in the upcoming year

Indians spent nearly $10 billion on foreign travel in April-December

Before this, the highest spend on overseas travel in an entire financial year was $7 billion in 2019-20