Page 25 - Rbi

Anonymity achieved in all retail CBDC wallet-to-wallet dealings done so far

Around 2,000 transactions recorded in first three days of pilot; aim now is to erase digital trails between wallets

Don't hike repo rate by more than 25-35 bps: Assocham's advice to RBI

With Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) set to meet to decide on the policy rate revision, industry lobby body Assocham has urged the former for a moderate hike

Core activities of a bank should not be outsourced, says RBI's AK Choudhary

"While outsourcing it is very important that adequate safeguards are established to seal the situation as well as the financial stability of the banking system," Choudhary added

RBI monetary policy: Pace of tightening set to slow

Our financial system needs more time for the broad-based transmission of the past concentrated increases in the repo rate (190 basis points in just four months)

Forex reserves rise for third week in a row; up $2.9 bn to $550.14 bn

Fall in US dollar index seen providing revaluation boost to RBI reserves

Bank credit grows 17.2% YoY to Rs 129.48 trn in fortnight to Nov 18

Deposit growth rises 9.6%, analysts cite FPI flows, govt spending

Bank credit grows nearly 17% for fortnight ended Nov 18, says RBI

Indian banking system's outstanding credit grew by 16.96 per cent for the fortnight ended November 18, the Reserve Bank said on Friday. The bank credit grew to Rs 133.29 lakh crore for the fortnight ended November 18 this year as against Rs 113.96 lakh crore on November 19, 2021, the Reserve Bank of India (RBI) said. The deposit growth came at 9.30 per cent, with the overall base Rs 177.15 lakh crore as on November 18 as against Rs 162.06 lakh crore in the year-ago period, it said. Interestingly, amid a war for deposits in the system as banks jostle to raise the liabilities to fund the elevated credit growth, the overall deposits in the system declined marginally during the fortnight as against the Rs 177.88 lakh crore as on November 4. It can be noted that the current fiscal has seen a steady rise in credit growth in FY23 driven by a variety of reasons, including economic growth, borrowers' shift to the bank as against other credit substitutes amid rising interest rates, etc. In

India's CAD likely to shoot up as net exports hit nine-year low

CAD in Q1 of 2013 was 4.9 per cent of GDP, while net exports stood at 5.93 per cent of GDP

RBI revises norms for classifying UCBs as financially sound & well managed

The boards of the banks have to examine the compliance with the FWSM criteria and pass necessary resolutions and inform RBI immediately

RBI conditional approval to Carlyle, Advent's stake buy in YES Bank

The fund-raising would be conducted through a combination of $640 million (Rs 5,100 crore) in equity shares and $475 million (Rs 3,800 crore) through equity share warrants, YES Bank had said

Reserve Bank of India issues framework for Indian banks' foreign biz

The framework also specifies the applicability of these instructions to International Financial Services Centres in India, including Gujarat International Finance Tec-City

RBI announces 4-tiered regulatory framework for urban cooperative banks

The Reserve Bank of India (RBI) on Thursday announced a four-tiered regulatory framework for categorisation of Urban Co-operative Banks (UCBs), Besides, the central bank has come out with norms pertaining to the net worth and capital adequacy of these banks. The four-tiered regulatory framework, based on size of deposits of the UCBs, will come into force with immediate effect. The extant regulatory framework classifies UCBs into two tiers -- Tier I and Tier II. In a circular, the RBI said given the heterogeneity in the cooperative sector, a tiered regulatory framework is required. Such a framework is needed to balance the spirit of mutuality and co-operation more prevalent in banks of smaller sizes and those with limited area of operation vis-a-vis the growth ambitions of the large-sized UCBs and undertake more complex business activities. "... it has been decided to adopt a four-tiered regulatory framework, as against the existing two-tiered framework, for categorisation of UCBs

e-Rupee: RBI creates Rs 1.71 crore of digital currency for retail pilot

Aims to involve 50,000 merchants, customers in the next few days

Carlyle, Advent get conditional nod from RBI for 9.99% in Yes Bank

Private equity majors The Carlyle Group and Advent have got the Reserve Bank's nod to own up to 9.99 per cent in Yes Bank, the private sector lender said on Thursday. The two PE funds in July this year expressed an intent to pump-in over Rs 8,000 crore in Yes Bank subject to regulatory permissions. Regulatory nod is required for owning over 5 per cent in a bank. In a stock exchange filing, Yes Bank said through separate letters on November 30, RBI has given conditional approval for both the funds to own 9.99 per cent of the paid-up share capital of the lender by subscribing to equity shares and share warrants. the investors (Carlyle and Advent) are evaluating the conditions. The investors and the bank will engage with the RBI to seek an early resolution of the conditions to procure the final approval on this matter, the statement added. Yes Bank had to be bailed out by fellow lenders in a RBI-led scheme in 2020, after alleged malfeasance by its founders led to a huge chunk of loans

RBI seen raising interest rates by 35 bps in December MPC meet: Poll

The expectations for a more modest rate rise follow a series of 50 basis point hikes by the RBI

Robust activity in services sector holds up 6.3% GDP growth in Q2

GDP grew 7.6 per cent in the September quarter of FY23 over the comparable period in FY20, which was before the pandemic

RBI authorises Tamilnad Mercantile Bank to undertake government business

Private sector lender Tamilnad Mercantile Bank (TMB) on Wednesday said it has been authorised by the Reserve Bank of India to undertake government business on behalf of the banking regulator. An agreement in this connection was signed by the bank with RBI in Mumbai for appointing TMB as an 'agency bank' of RBI to undertake government agency business. "On getting listed in the stock exchanges, Tamilnad Mercantile Bank Ltd is back to enrich our vision in expanding the network pan India with added features in the products and services," the bank's managing director and CEO S Krishnan said in a press release. "It gives me immense pleasure in sharing this appointment by RBI to all our stakeholders," he added. TMB is one of the oldest private sector banks with a history of over 100 years, having been established in 1921 as Nadar Bank. The bank offers a wide range of services primarily to micro, small and medium enterprises, agricultural and retail customers. The bank had reported 37.1 p

Economy will grow over 6.8% in FY23, says CEA V Anantha Nageswaran

While on the growth outlook of the next financial year FY24, he said he is optimistic on the growth story than many of global agencies forecast

ESMA deadlock: European regulator's interference unfortunate, says RBI DG

"Potential disruption to the forex markets can be serious"

Reserve Bank of India, Japanese regulator hold talks on clearing houses

Dialogue on clearing houses come after CCIL derecognition by ESMA, BoE