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Best of BS Opinion: Unnecessary restrictions, lending transparency & more

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

Tax payments: spurt in quarter-end activity may squeeze liquidity further

Interest rates on term deposits, money market instruments could go up further, even as RBI may conduct repo operations to maintain liquidity in the system

Time to forge new bonds: Is corporate bond market at an inflection point?

Corporate bond issuance is looking impressive, but the market still has some distance to go before it can be considered deep

Crackdown on illegal loan apps: RBI to make 'whitelist' of legal platforms

MeitY will ensure only authorised apps are hosted on app stores; all ministries to take possible action

India's foreign exchange reserves fall to lowest in 23 months

RBI's defence of the rupee cited as reason

Bank credit growth hits near nine-year high of 15.5%, shows RBI data

Achieving 20% growth going forward remains a challenge; deposits for week ended August 26 up 9.5%

Top headlines: Indian forex reserves, Kharif rice production, and more

Foreign exchange reserves declining to government making first disbursement under PLI scheme, here are the top headlines of the day

Indian banks' loans rose 15.5% YoY in two weeks to Aug 26, says RBI

Bank deposits rose 455.09 billion rupees to 169.94 trillion rupees in the two weeks to Aug 26

Blind adoption of new fintech could have an adverse impact: RBI ED

The new tech will bring a lot of benefit but can also bring some significant potential for disruption in the future of finance, says ED

Digital lending norms aim to protect customer interest: RBI's Rao

Deputy Governor says guidelines issued on August 10 aim to curb exploitation of regulatory arbitrage

PhonePe tokenises 14 mn cards ahead of RBI's deadline of Sept 30

PhonePe said it is working with three major card networks, Visa, Mastercard, and RuPay, to meet the regulator's tokenisation deadline of September 30.

Indian exporters should not rush to hedge non-dollar exposure: Analysts

Biswas pointed to next week's U.S. consumer inflation and the Sept. 20-21 Fed meeting as events that could trigger a pullback on the dollar index

Top Headlines: Rlys' land lease policy, strong festival sales, and more

Business Standard brings you the top headlines at this hour

CBDC to bring down time, cost for cross-border transactions: RBI Deputy Guv

Central bank digital currency (CBDC), to be launched this year, could become a tool for reducing time and cost for cross-border transactions, Reserve Bank Deputy Governor T Rabi Sankar said on Wednesday. The RBI has proposed to launch on a pilot basis this year, as announced in the Budget by Finance Minister Nirmala Sitharaman. In the Union Budget for 2022-23, the finance minister had said the RBI would roll out a digital equivalent to the rupee in the current financial year. "We have to understand that internationalisation of CBDC is crucial to addressing the payments issue that bodies like G-20 and Bank for International Settlements (BIS) are dealing with now," he said at India Ideas Summit. Observing that India has an excellent, cheap and fast domestic payments system, he said the cost of cross-border payment, however, is still high. There is a lot of scope for improvement in terms of both cost and speed, he noted. CBDC is probably the most efficient answer to this, he said, .

RBI releases 'alert list' of 34 entities barred from forex trades

List not exhaustive, must not assume those not on it are authorised for such trades

Govt, RBI propose action plan for facilitating special rupee accounts

According to the action plan, once banks receive applications from corresponding banks, they have to undertake internal scrutiny and send it to the RBI for approval

HDFC Bank hikes MCLR by 10 bps across loan tenures, effective Sep 7

Second rate hike in two months by lender after RBI's rate setting committee hiked benchmark repo rate by 50 bps to 5.4%; new MCLR at 7.90-8.40%

Digital currency to be launched as pilot project this year: RBI Deputy Guv

Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar on Wednesday said that the central bank will launch its digital currency as a pilot project this year.

Govt asks Sebi to ease public shareholding norms for IDBI Bank: Report

The Centre has reached out to Sebi seeking a relaxation period of two years in the minimum public shareholding norms for IDBI Bank after its privatisation

Top public sector banks may soon end wait on trade settlement in rupee

Finance ministry to meet stakeholders on Wednesday