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The RBI's package of measures aimed at supporting the rupee attracted more than $20 bn as of July 17, with more than four-fifths coming from foreign currency non-resident deposits mobilised by banks
Regulator proposes greater operational flexibility
Foreign banks appear to have driven the early success of the RBI's swap scheme, say experts
The rupee recovered from a five-session decline as easing crude oil prices and stronger-than-expected foreign exchange inflows under RBI measures supported sentiment
The basic idea behind the liberalised FCNR (B) scheme and other such measures is to attract foreign-currency flows, which will help RBI build foreign-exchange buffers at a time of global uncertainty
A stable economy does not require a permanently stable exchange rate
In its first update since the scheme was launched in early June, the Reserve Bank of India said the measures had mobilised $20.72 billion through July 17
The rupee closed at 96.28 per dollar on Friday, down about 1% on the week, its steepest drop since May, the month in which the currency hit its all time-low of 96.96
Banks expect strong NRI interest in RBI's FCNR(B) scheme but say leverage limits, overseas regulations and tax issues could curb fund mobilisation
The move marks India's first formal procurement step towards polymer banknotes, though the Reserve Bank of India has not announced denominations or a timeline for their introduction
"We have to watch out for monsoon… how it progress because a significant population depends on agriculture," he said
The central bank imposed penalties ranging from Rs 2.7 lakh to Rs 6.2 lakh on six companies, including Muthoot Finance, for violating regulatory norms
The rupee weakened as initial FCNR(B) deposit inflows fell short of market expectations, though analysts said it was too early to assess the success of the RBI's measures
The Reserve Bank of India (RBI) has issued the RBI Grade B 2026 admit card for Phase 2 on its official website. The bank will hold the RBI Grade B exam for Phase 2 on July 25 and 26
Banks are pitching M&A financing to corporate clients after RBI's new norms, setting the stage for stronger competition with private credit funds
The RBI has proposed a comprehensive data governance framework for banks and NBFCs, focusing on customer consent, data quality, third-party sharing and board oversight
The rupee weakened beyond 96 per US dollar while the benchmark 10-year bond yield rose 6 basis points as higher crude oil prices and inflation concerns weighed on markets
The central bank has proposed a one-time approval mechanism for mutual funds, insurers and pension funds to acquire major shareholding in banks, replacing repeated approvals
June inflation rose above the RBI's 4% target, with food, oil prices and monsoon risks clouding the outlook, making a status quo on rates the likely policy choice
Companies raised a record ₹5.37 trillion through commercial papers in the first quarter of FY27. Here's what they are, who issues them and why their use is rising