Page 32 - Rbi

Rupee reverses from new low to edge higher; RBI likely intervened

The rupee closed at 82.76 per U.S. dollar, against 83.0200 in the previous session

What are Digital Banking Units?

To ensure financial inclusion, banks are opening specialised branches to deliver digital banking products and services. These paperless branches are called digital banking units. Here's more

Administrator seeks RBI nod to restructure Reliance Capital into four CICs

Will help bidders for its insurance business to avoid Irdai's 5-year lock-in

Rupee declines 0.8%, closes at fresh all-time low of 83 vs US dollar

Analysts say RBI is allowing the depreciation amid wider CAD and higher US interest rates

Inflation to fall below 6% next year amid RBI rate hikes: Ashima Goyal

RBI Monetary Policy Committee (MPC) member Ashima Goyal on Wednesday said that the efforts of the Reserve Bank to contain price rise by repeatedly increasing interest rates will help in containing inflation, which is likely to fall below 6 per cent next year. Goyal further said that the policy rate hikes have largely reversed pandemic-time cuts but the real rate remains low enough not to hurt the growth recovery. "With a lag of two-three quarters, higher real rates will reduce demand in the economy. "International commodity prices are softening with the global slowdown and supply chain bottlenecks have reduced," she told PTI in a telephonic interview. In order to control rising inflation, the RBI on September 30, raised the short-term lending rate for the third consecutive time by 50 bps to take the repo rate to 5.9 per cent. Since May it has cumulatively increased the key interest rate by 190 basis points. "The Indian government is also taking action to reduce supply-side inflati

TMSEp284: Inflation, Utkrishta Kumar, jewellery stocks, market capitulation

Is the worst of inflation behind us? How Meesho cashed in on the festival season? Should you buy stocks of jewellery retailers this Dhanteras? What is market capitulation? Answers here

Competition for funds drives SBI to hike savings deposit rate by 30 bps

Balances of Rs 10 cr and above to earn 3% rate of interest Oct 15 onwards; 2.7% rate unchanged on deposits below Rs 10 cr

Banks offer over 3-year high interest rate to raise funds through CDs

Call mkt rates at higher end of rate corridor as liquidity shrinks rapidly

RBI's currency intervention ends up hurting rupee carry trade: Analysts

The Reserve Bank of India's currency intervention is making the rupee less attractive for carry traders, analysts said.

SBI hikes interest rate on savings deposits above Rs 10 crore by 30 bps

The deposits will attract an interest rate of 3%, effective Oct 15. Balances up to Rs 10 cr to earn 2.7% interest

Axis Bank hikes MCLR by 25 bps, joining other lenders in policy action

Central bank's MPC has cumulatively increased the repo rate by 190 bps since May

India's policy hawk sees end of aggressive hikes amid growth fears

India's most hawkish rate-setter said the policy rate was reaching a level that allows past aggressive action to cool inflation without inflicting too much pain on the economy

Best of BS Opinion: Headwinds from the West, Xi's China syndromes & more

Here is the best of Business Standard's opinion pieces for today

As RBI spreads out Fx interventions, forward premium hits 11-year lows

The central bank looks to protect headline reserves, deter offshore/onshore arbitrage on Rs with buy-sell swaps in forex market

Flows into NRIs deposits moderate to $1.43 billion in Apr-Aug period

Outstanding NRI deposits declined to $134.68 billion at the end of August 2022 from $141.52 billion a year ago

Indians remitted $2.67 billion in August under LRS scheme, shows data

According to RBI data, in August, Indians remitted $467.52 million for overseas education, $330.70 million for maintenance of close relatives, and $221.31 million in gifts.

Bond yields ease as MPC minutes hint at slower interest rate hikes

1-year bond yield logs the sharpest fall in two-and-a-half months

Headline inflation might have peaked in September, says RBI report

But cautions that fight against price rise will be 'dogged and prolonged'

India needs dedicated wing to release Green GDP estimates, says RBI article

India needs to set up a dedicated wing in the environment ministry to release estimates of Green GDP periodically on a regular basis and create a user-friendly data dissemination platform, said an RBI article. Green GDP takes into account estimates for environmental degradation, depletion of natural resources, and savings of resources and environment into the national income accounts. "Given the paucity of relevant data, estimation of Green GDP for India in this paper relies on an available global database and provides the starting point for future research in this area of environmental and economic accounting," the article said. The trajectory of Green GDP for India displays an upward movement with visible improvements particularly, since 2012, it added. The central bank said that the views expressed in the article are those of the authors and do not represent the views of the Reserve Bank of India. "Furthermore, resource depletion, CO2 emission and material footprint, especially

Fight against inflation will be dogged, prolonged: RBI article

The fight against inflation will be dogged and prolonged, given the long and variable lags with which monetary policy operates, an RBI article said. "Yet, if we succeed, we will entrench India's prospects as one of the fastest growing economies of the world enjoying a negative inflation differential with the rest of the world," according to the article on the state of economy authored by a team lead by Reserve Bank of India (RBI) Deputy Governor Michael Debabrata Patra. It said this happy outcome will re-enthuse foreign investors, stabilise markets and secure financial stability on an enduring basis. Retail inflation spiked to 7.41 per cent in September, remaining above RBI's upper tolerance level of 6 per cent for the ninth month in a row. With inflation remaining above the 6 per cent level, RBI, now, will have to give a report to the central government giving reasons for failure to contain inflation at 4 per cent with a bias of 2 per cent on either side. "While the persistence o