Page 40 - Rbi

Story behind smooth sailing of govt borrowing

Will the dream run continue in the second half of the year too, spreading cheers to the treasury floors and adding to banks' profits?

RBI net-sold $19.05 billion in forex market in July to protect rupee

RBI's forward purchases fell $9 bln in July as interventions spread across spot, forwards

Growth on strong footing, further tightening needed: RBI report

On the exchange rate, the report said the rupee was holding its poise, with adequate supplies of dollars

Govt permits invoicing, payment and settlement of trade in rupee

The commerce ministry on Friday allowed invoicing, payment and settlement of exports and imports in Indian rupee, a move aimed at facilitating trade in the domestic currency. In July, the Reserve Bank of India (RBI) had asked banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. To align the Foreign Trade Policy (FTP) with this decision of the RBI, the Directorate General of Foreign Trade (DGFT) added a new paragraph in the FTP. DGFT is an arm of the ministry which deals with export and import related matters. "Para 2.52 (d) is notified to permit invoicing, payment and settlement of exports and imports in INR (Indian rupee) in sync with RBI's ...circular dated July 11, 2022. This shall come into force with immediate effect," DGFT said in a notification. Accordingly, it said, settlement of trade transactions in INR may also take place through special

India's foreign exchange reserves down $2.23 billion to $550.87 billion

The country's foreign exchange reserves declined by USD 2.234 billion to stand at USD 550.871 billion for the week ended September 9, the Reserve Bank of India (RBI) said on Friday. In the previous reporting week, the reserves had dropped by USD 7.941 billion to USD 553.105 billion. The fall in the reserves during the reporting week was on account of a dip in the foreign currency assets (FCAs), a major component of the overall reserves, according to the Weekly Statistical Supplement released by the RBI. The FCAs decreased by USD 2.519 billion to USD 489.598 billion in the reporting week. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. The value of the gold reserves increased by USD 340 million to USD 38.644 billion, the data showed. The Special Drawing Rights (SDRs) dropped by USD 63 million to USD 17.719 billion. The country's reserve pos

India Inc overseas direct investment drops 59% to $1.03 bn in Aug: RBI data

India Inc's investment in their overseas ventures dropped by 59 per cent on an annual basis to USD 1.03 billion in August this year, data from Reserve Bank showed on Friday. The RBI data on Outward Foreign Direct Investment (OFDI) for August 2022 showed that the total financial commitment by the domestic firms was worth USD 1,027.67 million in August, 2022-23. In the same month of 2021-22, it stood at USD 2,500.97 million (USD 2.5 billion). In the preceding month of July 2022, Indian businesses' overseas financial investment was USD 1,116.69 million (USD 1.12 billion). Of the total investment during August this fiscal, the highest was in the form of equity infusion at USD 585.65 million. While USD 266.63 million was infused by way of issuance of guarantees, the rest USD 175.39 million was through loans. RBI said the data is provisional and subject to change based on online reporting by authorised dealer (AD) banks. Among the major investors, Lenskart Solutions infused equity wort

Banks seek clarity on 'grey areas' from RBI on Rupee Vostro accounts

India has stepped up its purchase of cheaper Russian crude despite international opposition and sanctions. New Delhi is looking to settle this trade in rupees to continue with its purchases

Top Headlines: Petro products export share rises; RBI rate hike, and more

With the price index surprising on the upside in August, many analysts have pencilled in a higher inflation print in September as well and accordingly expect the RBI to frontload policy rate hikes

Analysts see RBI delivering another 35-50 bps repo hike on Sep 30

With the price index surprising on the upside in August, many analysts have pencilled in a higher inflation print in September as well and accordingly expect the central bank to frontload policy rate hikes, delivering another 35 bps later this month. Confounding the worries on the inflation front, retail inflation accelerated to 7 per cent on-year in August from 6.7 per cent in the previous month -- staying above the upper tolerance limit of the central bank for all the eight months of 2022. The higher than expected August inflation print was driven by food prices primarily in rural areas which came in at 7.2 per cent as against 6.7 per cent in urban areas. The rate-setting panel has increased the policy repo rate by 140 bps to 5.4 per cent since May with the last being a 50 bps increase in the August review. Yet real interest rates continue to be negative as inflation continues to stay above 6 per cent. According to Tanvee Gupta-Jain, the India chief economist at the Swiss brokera

Expect $470-billion merchandise exports by year-end, says FIEO

Rupee trade mechanism with Russia to start soon, says FIEO

Players ready for migration as card-on-file tokenisation deadline nears

Tokenisation is the replacement of an actual or clear card number with an alternative code called the "token"

State govts step up relief measures for households battling inflation

Kerala distributed a package of free food items costing about 450 rupees ($5.70) each to over 8 million families during the Onam festival earlier this month.

Rupee doesn't need defending, it can take care of itself: CEA Nageswaran

Nageswaran said while international agencies were showing India's trend growth at 6%, the country could easily grow at 7% per annum for the rest of the current decade and beyond

Pace of rate hikes by RBI should be calibrated from here on: Ashima Goyal

"We need to be very careful that growth is not snuffed out and we don't go into another decade of slowdown," Goyal told Reuters in an interview on Tuesday.

Global bond index providers reach out to India amid geopolitical shifts

Recent rally in bonds despite US bond selloff signals optimism on global index inclusion

RBI's expected soft landing for India means fast, if not fastest, growth

Economists see Reserve Bank of India Governor Shaktikanta Das and his monetary policy panel colleagues to begin dialing down the pace of interest-rate hikes this month

Buoyed by demand, banks want more long-term gilts, but RBI may not yield

Apart from long-term bonds, the market participants also requested the central bank to reduce issuance of floating-rate bonds and cap sizes of weekly primary auctions to Rs 30,000 crore

Data monetisation should have consumer consent: RBI deputy governor

Last month, the government withdrew the Personal Data Protection Bill from the Lok Sabha and IT Minister had said the Centre was hopeful of getting a new legislation passed by the next Budget Session

RBI's policy decisions been in right direction, says Ashima Goyal

Headline retail inflation was at 6.71% in July; it was the first time in four months that the price gauge printed below 7%

Drop in India's forex reserves worrisome as inflows slow down: Economists

India's forex reserves declined to $553.1 bn in the week ended Sept. 2, their lowest since Oct. 2020 and down by $8 bn from the previous week, RBI data showed on Friday