Page 21 - Rbi

NBFCs need to be mindful of rising borrowing costs, says RBI report

'NBFCs need to be wary of rising borrowing costs as financial conditions tighten'

Number of banking frauds go up in FY22; substantially down by value: RBI

Banking frauds increased in number terms but the amount involved more than halved in FY2021-22, the Reserve Bank said on Tuesday. In FY22, banks reported 9,102 frauds involving an underlying amount of Rs 60,389 crore against 7,358 frauds with an amount involved of Rs 1.37 lakh crore in FY21. Banks reported 8,702 frauds entailing Rs 1.85 lakh crore in the pre-pandemic FY20. Interestingly, the number of frauds which are related to advances or lending activities has been on a declining trend, with FY22 reporting 1,112 frauds of Rs 6,042 crore, which is lower than 1,477 frauds of Rs 14,973 crore in FY21 and 1,947 frauds of Rs 32,386 crore in FY20, the RBI said in the report on Trend and Progress of Banking in India for FY22. "in terms of number of frauds, the modus operandi shifted to card or internet-based transactions. Additionally, cash frauds are also on the rise, the report said, adding that this involves frauds of Rs 1 lakh and above reported by banks. The number of fraud cases .

Only 8.2% of 463 million Jan Dhan accounts are zero balance: RBI report

81.2% were operative as of August 2022, up from 76% in 2017

Govt raised Rs 4.06 trn via dated securities in July-Sept: FinMin report

The weighted average yield of primary issuances hardened to 7.33 per cent in the second quarter of the current fiscal from 7.23 per cent in first quarter of 2022-23

Reducing core inflation key to easing prices: MPC member Shashanka Bhide

Core inflation, calculated after stripping out volatile food and energy prices, has stayed above 6% for 14 months in a row, while retail inflation cooled to 5.88% in November

RBI to migrate payments fraud reporting module to Daksh on January 1

Reporting on the existing Electronic Data Submission Portal (EDSP) to stop completely once migration happens

Financial literacy poor across urban, rural population: RBI survey

The survey was based on three parameters namely, financial knowledge, attitude and behaviour. On a total score of 21, the average urban and rural scores were 11.7

India may need some durable liquidity infusion: MPC member Ashima Goyal

In a Q&A, she says the majority opinion is that the country has handled the turbulence well and can do so again, though the probability is low in the immediate future

Missed inflation target, digital currency pilot mark RBI's 2022 map

The Reserve Bank of India failed to deliver on its contracted inflation target for the first time, started fiat digital currency pilot and finally saw its efforts to improve bank balance sheets see fruition in 2022, making it a mixed year for the central bank. With inflation ebbing into the target band, focus is likely to shift to helping economic growth in the new year, especially given the lagged impact of 2.25 per cent in rate hikes since May 2022, is likely to hamper GDP expansion. The big story of 2022 happened on October 12, when official data showed that headline inflation was above the 6 per cent mark -- the upper end of the tolerance band set for the central bank -- for nine consecutive months. It triggered a letter from RBI to the government enumerating the reasons for the miss and also when it sees the price rise coming to the 4 per cent mark. A bulk of the blame for persistent inflation was placed on the deteriorating global situation following the Russian invasion of ..

India will take 20 yrs, 8-9% growth to become developed nation: Rangarajan

Noting that the achievement of USD 5 trillion economy is a short term aspirational goal, former RBI Governor C Rangarajan on Saturday said even after that India will still be known as middle income country with per capita income USD 3472. Rangarajan further said in order to reach the level of an upper middle-income country, it will take another two years and to be classified as a developed country, the per capita income will have to be at a minimum of USD 13,205 and that will take more than two decades of strong growth of between 8 to 9 per cent to achieve it. Speaking at the 12th Convocation of ICFAI Foundation for Higher education here, he said at aggregate output level, India is the fifth largest economy in the world now. That by itself is an impressive achievement. But in terms of per capita income, India's rank according to IMF is 142 out of 197 countries. The immediate focus of policymakers must be to raise the growth rate of the economy. Achievement of a USD 5 trillion ...

RBI's forex reserves fall for first time in five weeks to $563.50 bn: Data

RBI likely resumed dollar sales to shield rupee from excess volatility

India's economic growth 'extremely fragile', needs support: RBI MPC member

India's economic growth is now 'extremely fragile' and needs all the support that it can get, as private consumption and capital investment are yet to pick up, RBI Monetary Policy Committee (MPC) member Jayanth R Varma said on Friday. Varma further said out of the four engines of growth for the economy, exports and government spending supported the Indian economy through the pandemic, but other engines need to pick up the baton now. " I like to think in terms of the four engines of growth for the economy: exports, government spending, capital investment and private consumption. "...while exports cannot be the main driver of growth because of the global slowdown, government spending is necessarily limited by fiscal constraints," he told PTI. Observing that experts are waiting for many years for private investment to pick up the slack Varma said that concerns about future growth prospects appear to be deterring capital investment. "The critical question is whether the fourth engine

Govt green bonds can be a gauge for pvt sector fundraise: RBI Dy Governor

'Heartening to see banks increasing green exposure'

Costs and benefits

Cryptos are speculative but underlying tech has merits

Indian shares extend losses amid concerns of Covid-19 cases, inflation

Indian shares extended fall for a third straight session, with broad-based declines, after the Reserve Bank of India's latest monetary policy minutes revealed strong concerns about inflation and Covid

NBFCs are not dying to become banks: Industry leaders at BS BFSI Summit

NBFC have certain disadvantages compared to banks on the liability side and they don't have access to demand deposits like commercial banks but this is not a big impediment to growth of the industry

All entities providing banking service subject to same rules: RBI Dy Guv

Non-bank entities cannot be allowed to undermine the banking system, he says at Business Standard BFSI Insight Summit

SBI to facilitate rupee trade with Russia after RBI gives approval

9 Indian banks have permission to open 17 special vostro rupee accounts for overseas trade with sanctions-hit nation

MPC members voice different views on interest rate and stance: RBI minutes

Governor Das said due to persistent core inflation, there is no room for complacency and the battle against inflation is not over

City Union Bank tumbles 9% as RBI finds divergence of additional gross NPA

The Reserve Bank of India found divergence of Rs 259 crore in additional gross NPA for the financial year 2021-22.