Page 5 - Rbi

Making banks treat customers fairly

RBI's regulatory philosophy is to issue guidelines and create a process of grievance redress

Paytm gets extension from RBI for resubmission of PA license application

RBI says firm can continue with its online payment aggregation business while it awaits Centre's nod for investments from its parent firm One97 Communication into Paytm Payments Services Ltd

RBI imposes Rs 30 lakh penalty on Karur Vysya Bank for non-compliance

The RBI on Friday said it has imposed a penalty of Rs 30 lakh on Karur Vysya Bank for non-compliance with certain provisions related to fraud classification and reporting by commercial banks. In a statement, the Reserve Bank said a Select Scope Inspection (SSI) of the bank was conducted by it from February 21, 2022, to March 4, 2022. An examination of the SSI report and all related correspondence pertaining to the same revealed that the bank failed to report a few accounts as frauds to the RBI within a week of the respective Joint Lenders' Forum (JLF) decisions to do so, the central bank said. In furtherance to the same, a notice was issued to Karur Vysya Bank, advising it to show cause as to why a penalty should not be imposed on it for failure to comply with the directions issued by the RBI. After considering the bank's reply, oral submissions and additional submissions made by the bank, the RBI came to the conclusion that the charge of non-compliance with the directions was ...

Foreign exchange reserves record highest weekly rise since Nov 2022

India had fifth largest forex reserves in the world as of Feb 2023, says RBI bulletin

The RBI lowers its volume

The acceleration in the pace of publishing the history of the central bank is something worth wondering about. It would be better to let some time elapse before embarking on the exercise

RBI central board reviews economic situation, global developments

The meeting comes in the backdrop of banking crisis in US triggered by the SVB collapse and the Fed's adoption of a softer tone on future rate hikes in its latest policy statement

Foreign exchange reserves rise to over six-week high with $572.8 bn

The central bank intervenes in the spot and forwards market to prevent runaway moves in the rupee's exchange rate against the dollar

RBI has 'enough valid reasons' to pause rate hikes in April: ISEC PD

Market participants and analysts broadly expect a rate hike of 25 basis points (bps) on April 6, when the country's monetary policy committee (MPC) ends its three-day meet

RBI to hold five-day variable rate repo auction worth Rs 75k cr on March 24

The RBI conducts repo operations in order to infuse liquidity into the banking system

Rate transmission better in easing cycle than tightening period

Experts said, generally, in an easing cycle banks tend to reduce the interest rates on deposits faster than on loans to protect their margins

Overestimation of inflation in Jan, Feb? RBI cites NSO methodology

It points to a sharp divergence in inflation in the cereals sub-group

Governor Das calls for augmenting computing infrastructure of RBI

Reserve Bank Governor Shaktikanta Das on Wednesday stressed the need for augmenting the central bank's existing computing infrastructure supported by cutting-edge facilities for research and capacity building in emerging areas. In his remarks after laying the foundation stone for a greenfield data centre and enterprise computing & cybersecurity training institute in Bhubaneswar, Das acknowledged the critical role played by technology in supporting the activities of the financial sector and RBI over the years and recently, in facilitating a robust recovery from the pandemic. "He highlighted the need for augmenting the existing computing infrastructure of the RBI supported by cutting-edge facilities for research and capacity building in emerging areas straddling central banking, technology and cybersecurity for a future ready RBI," an official release said. The new data centre and the training institute spread over 18.55 acre, when commissioned, will cater to the emerging ...

RBI to start new data centre, governor stresses on tech, cybersecurity role

Shaktikanta Das lays foundation of the new greenfield data centre and enterprise computing and cybersecurity training institute in Bhubaneshwar

Surge in bank credit offtake leads to three-fold jump in CD issuance

Meanwhile, issuance of commercial papers---securities sold by companies to raise funds--dropped sharply to Rs 12.5 trn in FY23 (up to Feb 28) from Rs 19 trn over the same period last year

Fixed deposit interest rates to go up again? RBI hits at another hike

In the bulletin, the RBI said that the Indian economy is unlikely to face any major repercussions from the ongoing global financial turmoil

Top headlines: Govt to bring down tax burden, Foxconn gets Karnataka's nod

Business Standard brings you the top headlines at this hour

Outward remittances under RBI's LRS in April-January surpass FY22

The figure in FY22 was the highest ever in any financial year

Inflows into NRI deposits more than double in April 2022-January 2023

Inflows into NRI deposits more than double in April 2022-January 2023

RBI snaps 2 months of dollar buys, net-sells $384 mn in market in Jan

Forward book surges $10.76 bn as central bank picks up dollars

India better placed than most to face turmoil, says RBI report

'Core inflation defies softening of input costs'