Page 37 - Rbi

NPCI sets Oct 31 as deadline to activate offline payments on RuPay cards

The move will breathe life into the RBI's January 3 framework which sought to give a fillip to offline payments and lead to the activation of the One Nation, One Card for on-the-go payments

Rupee trade: Two Russian banks get RBI nod for special vostro account

Trade between India and Russia started growing after the latter invaded Ukraine in late February

Mutual funds' share in household savings jump 150% in FY22: RBI data

Retail investments in MF rise as flows into bank deposits drop

India FX reserves set to shrink further, stir memories of 2008 crisis: Poll

Those reserves are forecast to fall another $23 bn to $523 bn by the end of this year, according to the median forecast from a Sept. 26-27 Reuters poll of 16 economists

RBI policy: Here is how a repo rate hike can affect your finances

If RBI increases the repo rate, the cost of borrowing by banks also rises, which subsequently makes taking loans from banks costlier

Household savings in India dip to lowest in five year as inflation persists

As compared to 15.9 per cent in FY21, the gross financial savings of households in India stood at 10.8 per cent in FY22

Monetary policy preview: Front-loading rate hikes for macro stability

The current account deficit remains uncomfortably high as India's growth momentum outpaces the rest of the world.

Active credit cards drop 2.3 million in August over new RBI norms

Spends decline 3% MoM but top Rs 1 trn for sixth consecutive month

Red signals for fintech industry: The valuations game of the past is over

RBI Governor Shaktikanta Das' traffic light imagery for the fintech industry has several implications

Is the recent selling in markets overdone?

The US Fed delivered third large rate hike last week with over half of Nifty500 stocks slipping below their key moving averages. Is this fall set to continue or is the recent selling an overreaction?

Rupee loses 10% vs USD over a year, FX reserves fall to near 2-yr low

The rupee has depreciated 9.7 per cent against the dollar since September 2021

Forex reserves shrink faster than under 2008 global crisis, taper tantrum

BoP deficit, longer US tightening cycle may lead to slower pace of RBI intervention

Rupee ends beyond 81 against dollar for the first time; lags EM peers

RBI may have sold around $1 bn, but experts see pace of intervention declining

Investors stare at double-digit losses as rupee eats into FPI pie

Indian indices better off in 2022, down less than 2 per cent

Dubai-based Mark ab Capital invests Rs 350 crore in Shriram EPC equity

The Dubai-based company has bought 26.48% stake in the turnkey solutions firm and has become its promoter

NBFCs' recovery to be hit after RBI action against M&M Financial Services

Moreover, as lenders will not deploy their own staff for such activity, their operation costs may go up, said experts

What borrowers should know about their rights against loan recovery agents

People who fail to repay their loans are not criminals and they can't be harassed

ADB explains why RBI may slow down on rate cuts till next year

With economic activity still to reach pre-pandemic levels, the RBI may slow down the pace of rate hikes until next year to quell soaring inflation while supporting growth, the Asian Development Bank (ADB) says in its latest report. The Manila-based multilateral funding agency has raised the inflation forecast for the current fiscal year ending in March 2023 to 6.7 per cent from its earlier projection of 5.8 per cent. For the next fiscal year too, the forecast has been revised upwards to 5.8 per cent from 5 per cent earlier. Inflation will remain elevated this year and the next, ADB said in an update to its flagship Asian Development Outlook (ADO) 2022 report. "This Update forecasts the inflation rate averaging 6.7 per cent in FY2022 (fiscal ending in March 2023) before moderating to 5.8 per cent in FY2023 (ending in March 2024), just below the central bank target range of 2 - 6 per cent," it said. Both forecasts are higher than ADO 2022's projections. Even though supply pressures

High NPAs in education loan segment turn banks cautious, says PSB official

High defaults of about 8 per cent in the education loan portfolio have made banks cautious and go slow on the sanction of such credit. Non-performing assets (NPAs) in the education loan category including public sector banks' (PSBs) were 7.82 per cent at the end of June quarter of the current financial year. Outstanding education loans were about Rs 80,000 crore at June-end. Cautious approach is adopted at the end of branches while sanctioning education loans due to high NPAs, a senior public sector bank official said. As a result some genuine cases are overlooked and there are delays, the official said. Recently, the finance ministry had called a meeting of PSBs to take stock of the education loan portfolio and cut down on delay. The ministry exhorted banks to spread awareness about the Central Sector Interest Subsidy Scheme among field formations. The sharp increase in non-performing assets (NPA) in education loans extended by commercial banks in India in recent years is a matte

RBI rate decision, global trends to drive markets this week: Analysts

The domestic stock market may face volatility amid the monthly derivatives expiry scheduled this week, while investors would mainly await the outcome of RBI's interest rate decision on Friday, said analysts. Global market movement would also continue to drive sentiment amid a bearish trend recently following rate hikes by the US Federal Reserve and other central banks. The Reserve Bank of India (RBI) may take cues from its global counterparts to raise interest rate for the fourth time in a row to control inflation. The RBI, which has since May raised the short-term lending rate (repo) by 140 basis points (bps), may again go for a 50 basis points increase to take it to a three-year high of 5.9 per cent, say experts. Vinod Nair, Head of Research at Geojit Financial Services, said for the week ahead, investors will keenly watch the outcome of the RBI monetary policy on September 30. "We expect the market direction will be led by global developments and FIIs' (Foreign Institutional ..