Page 101 - Latest Updates on Reserve Bank of India
Never seen this kind of alignment in banks: KV Kamath at the BS BFSI Summit
Kamath said that he has 'no sympathies' for organisations complaining of not having enough people in a country like India
 "Never seen this kind of alignment in banks: KV Kamath at the BS BFSI Summit")
No policy for troubled times: Does inflation targeting really work?
On the evidence at hand, inflation targeting works only when the world economy is normal, and demand swings up and down in small cycles that monetary policy tackles, writes T N Ninan
 "No policy for troubled times: Does inflation targeting really work?")
Reserve Bank of India allows premature deposit withdrawal up to Rs 1 crore
Banks typically offer higher interest rates on non-callable deposits
 "Reserve Bank of India allows premature deposit withdrawal up to Rs 1 crore")
Lenders and CIC to pay Rs 100 per day for record update delay: RBI
The compensation provided to the complainant will be apportioned among the concerned lender and CIC proportionately
CBDC pilot projects show promising results: RBI governor Shaktikanta Das
Furthermore, Das said that the ongoing conflict in Ukraine has significantly influenced the central bank's recent strategies in combating inflation
 "CBDC pilot projects show promising results: RBI governor Shaktikanta Das")
Fundraising through corporate bonds decline in October, shows data
According to data from the Prime database, companies and banks raised Rs 23,797 crore as of October 24, compared to Rs 72,941 crore in September
 "Fundraising through corporate bonds decline in October, shows data")
Mobikwik's Zaakpay gets in-principle nod to operate as payment aggregator
The Reserve Bank of India has allowed the payment gateway to onboard new merchants to its platform
 "Mobikwik's Zaakpay gets in-principle nod to operate as payment aggregator")
RBI to meet senior bank officials next week, liquidity to be discussed
Market participants are also eagerly awaiting hints on when the RBI would conduct an open market sale of debt as announced in the October monetary policy meeting
 "RBI to meet senior bank officials next week, liquidity to be discussed")
RBI directs private banks to have at least two wholetime directors
Banks that don't meet requirement get 4 months
Option traders see RBI's grip on Rupee lasting for the rest of 2023
The rupee has weakened about 0.5 per cent this year, the least among Asia's emerging markets, thanks to inflows of nearly $18 billion and RBI intervention
 "Option traders see RBI's grip on Rupee lasting for the rest of 2023")
Floating-rate savings bonds on RBI online portal may not be instant hit
These bonds usually perform well in a rising rate environment, say mkt players
 "Floating-rate savings bonds on RBI online portal may not be instant hit")
Updating the tax haven debate
In a comprehensive analysis of black money, R Vaidyanathan's book explores the intricacies of its generation, the impact of tax havens, and the role of global initiatives
 "Updating the tax haven debate")
Rupee stable, forward premia dip on RBI's likely $5 billion forex rollover
The rupee settled at Rs 83.19 per dollar on Monday as against Rs 83.12 on Friday
 "Rupee stable, forward premia dip on RBI's likely $5 billion forex rollover")
Nine state govts, one Union Territory raise Rs 189 billion at bond auction
Cut-off yield highest in FY24 so far
 "Nine state govts, one Union Territory raise Rs 189 billion at bond auction")
RBI's $5 billion swap maturity causes flutter, but no major turbulence
One of the ways a bank can do that is by accessing the overnight swap market to borrow dollars vis-a-vis the rupee. A fall in the swap rate means there is a high demand for dollars
Net FDI in India down to $3 billion in April-August, shows RBI data
Global deals involving mergers and acquisitions are languishing at a 10-year low as high interest rates chill activity in equity markets
 "Net FDI in India down to $3 billion in April-August, shows RBI data")
Transparent policy anchored inflation expectations in Covid times: BIS
Further, exchange rate intervention also helped anchor expectations and facilitated the overarching objective of maintaining macroeconomic stability and market confidence
 "Transparent policy anchored inflation expectations in Covid times: BIS")
At $3.9 bn in August, RBI turns net seller of dollar for first time in FY24
The central bank bought $5 billion, while it sold $43.6 billion of foreign currency in August
Equity, debt markets helped outward remittance rebound in August
The overall remittances increased by 43 per cent from July
 "Equity, debt markets helped outward remittance rebound in August")
RBI Governor Shaktikanta Das cautions against large supply shocks
External member Goyal says increase risk weight, LTV rather interest rates to restrain over-enthusiasm
 "RBI Governor Shaktikanta Das cautions against large supply shocks")