Page 22 - Rbi

Outward remittance under LSR dips 28% to $1.92 bn in Oct, shows RBI data

International travel contributed over $970 million or 50 per cent of $1.92 billion remitted by Indians in October 2022

In a U-turn, outstanding NRI deposits rise in October, shows RBI data

In July, the RBI took steps to enhance fresh inflows into NRI deposit accounts

Waning input cost, rising investments herald upturn in capex cycle: RBI

Waning input cost pressures, buoyant corporate sales and rising investments in fixed assets are heralding the beginning of an upturn in the capex cycle in India will contribute to speed up growth momentum in the economy, said an RBI article on Tuesday. The balance of risks is increasingly tilted towards a darkening global outlook and emerging market economies (EMEs) appear to be more vulnerable, even though incoming data suggest that global inflation may have peaked, said the article titled 'State of the Economy' published in the RBI Bulletin December 2022 article. "The near-term growth outlook for the Indian economy is supported by domestic drivers as reflected in trends in high-frequency indicators," it said and added equity markets touched a string of new highs during November buoyed by strong portfolio flows to India. Headline inflation moderated by 90 basis points to 5.9 per cent in November driven by a fall in vegetable prices even as core inflation remained steady at 6 per .

BS BFSI Insight Summit 2022: RBI Deputy Guv M Rajeshwar Rao to speak

Rao looks after the Department of Regulation, the Department of Communication, the Enforcement Department, the Inspection Department, the Legal Department and the Risk Monitoring Department

HDFC raises home loan rates by 35 bps, effective from December 20

With this rate hike, HDFC has now passed on the entire rate hike done by the six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) to the borrowers

RBI slaps Rs 2.66 crore penalty on Bank of Bahrain & Kuwait BSC, India ops

The Reserve Bank on Monday said it has imposed a penalty of Rs 2.66 crore on Bank of Bahrain & Kuwait BSC, India operations for non-compliance with directions on cyber security framework. In a statement, the Reserve Bank of India (RBI) said the bank failed to implement systems to detect unusual and unauthorised, internal or external activities in its database. It also failed to implement security operations centre for obtaining real-time/ near-real time information and insight into the security posture of the bank, and enable audit logs for database and operating system of servers, among others, as per the statement. A notice was issued to the bank asking it to show cause as to why penalty should not be imposed on it for failure to comply with the directions issued by RBI. "After considering the bank's reply to the notice, oral submissions made during personal hearing and additional submissions made by it, RBI came to the conclusion that the charge of non-compliance with the ...

Looking back at 2022: RBI's regulatory review 2.0 is a game-changer

It has taken nearly two decades for RRA 2.0 to be set up under Shaktikanta Das in November 2021; and its recommendations in June this year must surely go down as a major reform

Axis Bank hikes MCLR by 30 bps across the board, effective December 17

This comes after RBI's monetary policy committee raised repo rate by 35 bps earlier this month to take it to 6.25%

Four years and four challenges of RBI governor

Shaktikanta Das is nimble-footed and open to ideas - a trapeze artist, and a master of the finest balancing act who listens to all but takes his own decisions

RBI went beyond just housekeeping with some bold moves in 2022

It's a landmark achievement, so far as the functioning of the economy is concerned: RBI Governor on CBDC

Digital lenders seek cap on default loss guarantee models from RBI

They suggested that the central bank could look at a reasonable cap to the FLDG models, given RBI's concerns of around build-up of systemic risk and 100% risk transfer rather than banning it outright

RBI's forex reserves rise for fifth straight week to $564.07 billion

According to analysts, the increase in the RBI's reserves is owing to revaluation as well as the central bank's purchases of the greenback as it looks to replenish the reserves

Fintech firms Razorpay, Cashfree can't onboard new merchants for now

Razorpay said it was a temporary move and will not have any impact on its existing business operations and current merchants

Short-duration funds suit conservative investors during pause in rate cycle

Take a tactical bet on longer-duration funds when RBI moves to a tightening stance

RBI asks Razorpay, Cashfree to temporarily stop onboarding of new customers

The Reserve Bank of India has asked Razorpay and Cashfree to temporarily stop the onboarding of new customers for their payment processing business, according to a source. On the banking regulator's order, Razorpay said it is a temporary move and has no impact on Razorpay's existing business operations and current merchants. "RBI has issued an order a few days back asking Razorpay and Cashfree to stop customer onboarding," a source told PTI. No immediate comments were received from Cashfree. When contacted, Razorpay said it received in-principle approval from the RBI in July for a payment aggregator and payment gateway licence and the company is now required to share additional details with the RBI to aid in the final license process. "As part of this process, the RBI has requested us to temporarily withhold onboarding new online merchants till such details are submitted. As a responsible corporate that operates under the ambit of RBI, Razorpay has abided by the regulatory ...

Indian banks' loans rose by 17.5% y-o-y in 2 weeks till December 2: RBI

Indian banks' loans rose 17.5% in the two weeks to Dec 2 from a year earlier, while deposits rose 9.9%, the Reserve Bank of India's weekly statistical supplement showed on Friday

RBI to issue next tranche of sovereign gold bonds from Dec 19-23

The Reserve Bank will issue two tranches of Sovereign Gold Bonds, which will open for public subscription in December and March. Sovereign Gold Bonds (SGBs) 2022-23-Series III will open for subscription during December 19-December 23 and 2022-23-Series IV during March 06-10, 2023, the finance ministry said in a statement on Thursday. These bonds are issued by the Reserve Bank of India (RBI) on behalf of the government. The SGBs will be sold through Scheduled Commercial banks (except Small Finance Banks, Payment Banks and Regional Rural Banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, and stock exchanges -- NSE and BSE. The tenor of the SGB will be for a period of eight years with an option of premature redemption after 5th year to be exercised on the date on which interest is payable, the ministry said. "The investors will be compensated at a fixed rate of 2.50 per cent per annum payable semi-annuall

Ex-RBI Guv Raghuram Rajan predicts difficult year ahead for Indian economy

Rajan also pitched for creating a conducive environment for small and medium-scale industries and giving a push to a green revolution in the field of sustainable energy

Banks rush to hike deposit rates, raise funds amid firm loan growth

Major private lenders such as HDFC Bank, ICICI, Axis revise rates; deposit rates now catching up with RBI rate hikes

YES Bank re-enters top-100 most valued firms list; stock up 30% in 3 days

At 12:52 pm; with market-cap of Rs 57,380 crore, YES Bank stood at 92nd position in overall market-cap ranking, the BSE data shows