Page 51 - Rbi

Analysts slash India's GDP forecast amid high inflation, recession fears

On Thursday, ADB lowered India's growth forecast from 7.5 per cent to 7.2 per cent for FY23. Earlier on July 18, US-based Morgan Stanley also slashed India's GDP growth forecast to 7.2 per cent

Next pain point for the rupee: $79 billion of unhedged offshore loans

The nation's firms had $79 billion of unhedged offshore loans at the end of March, about 44% of their total overseas borrowings, according to the latest data from the Reserve Bank of India

R Gandhi, Gopalakrishnan cease to be directors on Yes Bank board: RBI

Former RBI Deputy Governor R Gandhi and professor Ananth Narayan Gopalakrishnan have ceased to be additional directors on the board of Yes Bank following a new board in place.

RBI renews statement of commitment to global code on best market practices

The FX Global Code, developed under Bank for International Settlements, Basel, compiles the practices formulated by central banks worldwide

Banks urge RBI to extend HTM leeway beyond Mar 2023 as bond losses pile up

Bankers have sought permission to park a larger quantum of securities in the portfolio than is currently permitted amid an environment of rising bond yields.

RBI should come up with on-tap licences for UCBs, says Satish Marathe

The revised guidelines on UCB proposed a four-tiered regulatory framework with differentiated regulatory prescriptions aimed at strengthening the financial soundness of the existing UCB

RBI prepared to spend $100 bn more for defending rupee, says report

Most analysts and traders believe worst is yet to come for the rupee, despite the RBI's intent to defend the currency and India's sound macroeconomic fundamentals

'RBI's rupee trade settlement a step towards internationalisation of rupee'

The announcement by the Reserve Bank of India (RBI) to allow cross border trade transactions in rupee is a timely move and a step towards internationalisation of the currency, according to experts.

RBI issues digital currency for wholesale, retail segments in phased manner

The Reserve Bank of India is in the process of implementing the Central Bank Digital Currency (CBDC) in a phased manner for the wholesale and retail segments, an official said on Wednesday. The introduction of CBDC was announced in the Union Budget 2022-23, by Finance Minister Nirmala Sitharaman and necessary amendments to the relevant section of the RBI Act, 1934 has been made with the passage of the Finance Bill 2022, Ajay Kumar Choudhary, Executive Director (Fintech), Reserve Bank of India (RBI) said. The passage of the bill has enabled the RBI to conduct a pilot and subsequent issuance of CBDC, he said. "RBI is also working on phased implementation of a central bank digital currency (CBDC) in both wholesale and retail segment," Choudhary said while delivering a keynote address at the 'PICUP Fintech Conference & Awards' by FICCI. CBDC is a digital or virtual currency but it is not comparable to the private virtual currencies or cryptocurrency that have mushroomed over the last .

Rupee at 80: The Indian tradition of political involvement in exchange rate

Despite the Sangh Parivar's belief that a strong rupee is good, the govt has seen the wisdom of letting it depreciate gradually

Top Headlines: Rupee breaches 80/$ for 1st time, Right to Repair, and more

The rupee on Tuesday weakened past 80 per dollar for the first time but went on to recover lost ground

RBI hikes capital adequacy ratio for urban cooperative banks to 12%

Rule applies to banks with deposits above Rs 100 crore; glide path till March 2026, to meet revised CAR norm in phases for UCBs that do not meet it currently

Rupee breaches 80/$ for first time, settles at 79.95 after RBI intervention

The rupee has depreciated 7.01 per cent against the dollar this year

Caution over rupee

RBI must keep an eye on its reserves as dollar strengthens

PNB bond holdings of short maturity, less prone to rising yields: MD Goel

In a Q&A, Atul Kumar Goel says the lender has not sought any special dispensation from RBI to provide for MTM losses amid rising bond yields

US' return as leading source of Indian remittances mirrors pre-2008 trend

North America had a high share of remittances before the global financial crisis

Urban co-operative banks to have four-tiered regulatory framework: RBI

An expert committee, headed by former RBI deputy governor N S Vishwanathan, had made a host of recommendations for strengthening the UCBs

Cross-border payment: Four firms complete test in RBI's 2nd sandbox cohort

The four entities are: Cashfree Payments, Fairex Solutions, Nearby Technologies, and Open Financial Technologies

No need to be 'overtly' worried about fall in rupee: DEA Secretary

The Indian currency, he said, has appreciated against several global currencies like British Pound, Japanese Yen and Euro.

RBI imposes restrictions on 2 co-op banks; customers cannot withdraw funds

The restrictions on Sri Mallikarjuna Pattana Sahakari Bank Niyamita, Maski (Karnataka) and Nashik Zilla Girna Sahakari Bank, Nashik (Maharashtra) will remain in force for six months