Page 16 - Rbi

RBI okays appointment of sitting YES Bank exec Rajan Pental as ED

Pental, who has been with YES Bank since November 2015, will continue to head retail banking; he is also non-executive director at YES Securities

India's forex reserves rise for third straight week, hits 6-month high

India's foreign exchange reserves rose above a six-month high of $576.76 billion in the week through Jan. 27, the Reserve Bank of India's (RBI) statistical supplement showed on Friday

RBI asks banks to share information on exposure to Adani Group companies

Indian lenders have around Rs 80,000 cr exposure in conglomerate, marking 38% of the conglomerate's total debt

Tata Sons exploring ways to get out of upper layer NBFC list: Report

Since the collapse of IL&FS in 2018, the RBI has been gradually tightening the regulatory framework for NBFCs

Hindujas to invest Rs 10,000 crore to raise stake in IndusInd Bank

The Hinduja group has also offered to take over Reliance Capital for Rs 9,000 crore, but its offer is facing litigation from its rival bidder Torrent

SBI gave loans worth $2.6 billion to Adani group companies, says report

SBI's exposure includes $200 million from its overseas units, the person said, asking not to be identified discussing private information

PM Modi's election Budget unlikely to delay RBI path to rate pause

The new tax rates are unlikely to add to inflationary pressures in the economy in the near-term, said economists including Nirmal Bang Institutional Equities Pvt.'s Teresa John

Budget 2023: Govt expects Rs 48,000-cr dividend from RBI, PSU banks in FY24

The government expects 17 per cent higher dividend at Rs 48,000 crore from the Reserve Bank of India (RBI), public sector banks and financial institutions in 2023-24. In current financial year ending March, it aims to garner Rs 40,953 crore from RBI and public sector financial institutions. This is much lower compared to Budget Estimate of Rs 73,948 crore for FY23. It is to be noted that RBI approved a dividend payment of Rs 30,307 crore to the government post its board meeting in May 2022. As per the Budget document, dividends from public sector enterprises and other investments have been pegged at Rs 43,000 crore for FY24 as well. As per the Revised Estimate for FY23, the dividend from public sector enterprises and other investments was higher at Rs 43,000 crore from the Budget Estimate of Rs 40,000 crore. Total dividend collection of the next financial year would be Rs 1,15,820 crore as against the RE of Rs 1,08,592 crore, as per the RE of 2022-23.

RBI appoints V Ramachandra as member of Advisory Committee of SIFL, SEFL

The Reserve Bank on Tuesday appointed V Ramachandra, former chief general manager of Canara Bank, as a member of the Advisory Committee of Srei Infrastructure Finance Limited (SIFL) and Srei Equipment Finance Limited (SEFL). After superseding the boards of SIFL and SEFL in October 2021, the RBI had appointed a three-member advisory committee to assist the administrator of the two crisis-ridden firms. "Consequent upon the resignation of Shri Farokh N Subedar from the Advisory Committee with effect from January 31, 2023, it has been decided to appoint Shri V Ramachandra as a member of the Advisory Committee with immediate effect," the central bank said in a statement. The Advisory Committee shall advise the Administrator in the operations of SIFL and SEFL during the corporate insolvency resolution process, it added. The other two members of the committee are -- Venkat Nageshwar Chalasani, former deputy managing director, State Bank of India; and T T Srinivasaraghavan, former managing

Prompt measures by govt, RBI contained inflation: Economic Survey

A rising phase up to April 2022 when it crested at 7.8 per cent, then a holding pattern at around 7 per cent up to August 2022 and then a decline to around 5 per cent by December 2022

Bank credit for services up three-fold in Apr-Dec 22 as economy picks up

Credit to NBFCs and trade (wholesale and retail) showed maximum traction, RBI data showed

RBI partially eases curbs on SBM Bank till Mar 15 for customers' relief

On Jan 23, RBI had asked the lender to immediately stop transactions under LRS, following certain material supervisory concerns observed in the bank

Digital payments record 24% annual growth at end of Sept 2022: RBI data

Digital payments across the country registered a growth of 24.13 per cent in a year through September 2022, as per RBI's index that measures the adoption of online transactions. The newly-constituted RBI's Digital Payments Index (RBI-DPI) stood at 377.46 in September 2022 against 349.30 in March 2022 and 304.06 in September 2021. "The RBI-DPI Index has increased across all parameters driven by significant growth in payment infrastructure and payment performance across the country over the period," Reserve Bank of India (RBI) said in a statement on Tuesday. The central bank had announced the construction of a composite RBI-DPI in March 2018 as a base to capture the extent of digitisation of payments across the country. The index comprises five broad parameters that enable the measurement of the deepening and penetration of digital payments in the country over different periods. These parameters are Payment Enablers (weight 25 per cent); Payment Infrastructure Demand-side factors

Reserve Bank partially relaxes restrictions on SBM Bank up to March 15

Last week, the central bank had asked SBM to stop all transactions under the liberalised remittance scheme (LRS) until further notice

Explained: Are fintech companies unmindful of Mint Road's message?

Fintechs' attitude towards governance has major implications

Refresh the approach to growth, equity

Agricultural credit continues to be subsidised through an interest subvention scheme instead of converting these subsidies into cash transfers to farmers

Top headlines: Adani counters Hindenburg charges, rupee undervalued by 40%

Business Standard brings you the top headlines at this hour

As short selling report roils markets, SBI defends exposure to Adani Group

Indias largest lender State Bank of India (SBI) said that its exposure to the Adani Group was well below the RBI's Large Exposure Framework and was secured by cash generating assets

Worst over for global economy, 'softer recession' likely: RBI governor

There is a need to improve retail access to markets, particularly gilts and derivatives, he says

RBI's foreign exchange reserves rise $1.7 bn in a week to $573 bn

FX reserves rise $1.7 bln in a week to $573 bln