Page 102 - Latest Updates on Reserve Bank of India
Binance loses India traders to local companies it recently dominated
WazirX and Mudrex estimated that roughly 70% of their fresh inflows came from Binance, while CoinDCX put the figure at around 40%
 "Binance loses India traders to local companies it recently dominated")
Rupee gains 11 paise against the US dollar amid strong FPI inflows
The local currency strengthened for the eighth consecutive trading session on Friday; it touched an intraday high of 82.86 per dollar before settling at 82.92, compared to 83.03 on Thursday
 "Rupee gains 11 paise against the US dollar amid strong FPI inflows")
State Bank of India floats scheme to raise funds for green projects
Besides approaching retail customers, SBI will look at tapping family offices, entities that manage money for high net worth individuals, for garnering green money
 "State Bank of India floats scheme to raise funds for green projects")
Delays in IBC erode value of assets, says RBI governor Shaktikanta Das
Das says cybersecurity threat remains a major challenge
 "Delays in IBC erode value of assets, says RBI governor Shaktikanta Das")
Expect mid-teen equity returns, no rate cut in 2024, says ABSL AMC
Economic growth, the AMC said, is expected to be led by investments
 "Expect mid-teen equity returns, no rate cut in 2024, says ABSL AMC")
'Don't think world can afford cryptomania', says RBI Guv Shaktikanta Das
'I don't think the world or emerging markets can take a cryptomania like the Tulipmania, said the RBI Governor at Mint's BFSI Summit
 "'Don't think world can afford cryptomania', says RBI Guv Shaktikanta Das")
World Bank keeps India's FY25 GDP growth estimate unchanged at 6.4%
At 6.4%, India may remain world's fastest-growing large economy; Global economy likely to slow for third straight year in 2024
 "World Bank keeps India's FY25 GDP growth estimate unchanged at 6.4%")
RBI revise guidelines for SFBs, raise min capital requirement to Rs 200 cr
Payments Banks can apply for conversion into SFB after five years of operations if they are otherwise eligible as per the guidelines, it said
 "RBI revise guidelines for SFBs, raise min capital requirement to Rs 200 cr")
RBI gives clarity to 'politically exposed persons' term to meet FATF norms
They are individuals entrusted with prominent public functions by a foreign country, including the heads of states or governments
 "RBI gives clarity to 'politically exposed persons' term to meet FATF norms")
Q3 securitisation volume falls 17% to Rs 38,000 cr, but up 20% in 9 months
Rating agencies Crisil and Icra have, in separate reports, said the growth momentum will continue, given the positive regulatory changes, wider participation, and innovative structures nudging growth
 "Q3 securitisation volume falls 17% to Rs 38,000 cr, but up 20% in 9 months")
RBI says Rs 2,000 notes can be exchanged through post offices as well
In a set of Frequently Asked Questions (FAQs) on its website, the RBI said people can send the notes to any of its 19 issue offices from any post office
 "RBI says Rs 2,000 notes can be exchanged through post offices as well")
India's forex reserves jump $2.75 bn to $623.2 bn, shows RBI data
In the previous reporting week, the overall reserves had increased by $4.471 billion to $620.441 billion
 "India's forex reserves jump $2.75 bn to $623.2 bn, shows RBI data")
RBI revises definition of politically-exposed persons for KYC purpose
The new rules also include a person who is entrusted by a foreign country with a public function
Poonawalla Fincorp's AUM rises 57% to around Rs 21,850 cr in Q3FY24
Sequentially, Poonawalla Fincorp's AUM expanded by 8 per cent over in the second quarter ended September 2023
 "Poonawalla Fincorp's AUM rises 57% to around Rs 21,850 cr in Q3FY24")
Reserve Bank of India to conduct 7-day VRR auction to inject up to Rs 1 trn
The central bank had conducted a VRR auction after six months on December 15
RBI takes steps to curb inoperative bank accounts: Things you should know
The RBI has issued fresh guidelines to reduce the quantum of inoperative bank accounts and unclaimed deposits with focus on tracing customers, and reducing fraud risk. Check all the details
 "RBI takes steps to curb inoperative bank accounts: Things you should know")
Invest in longer-duration funds to gain from anticipated rate cuts
But avoid going overboard with exposure as unforeseen events could prevent inflation from softening
 "Invest in longer-duration funds to gain from anticipated rate cuts")
Customers' complaints against credit information companies increasing: RBI
The central bank has also found "some concerns" on the conduct of CICs in its supervisory assessment, an official statement said without specifying the concerns
RBI pulls up credit information bureaus on rising customer complaints
The CICs shared their feedback and highlighted the initiatives that are being taken in collaborating with the credit institutions (CIs) for enhancing data quality
Bank Holidays in January 2024: Banks to remain closed for 16 days
RBI announced the list of bank holidays in light of different elements including national/state holidays, cultural or religious recognition, functional necessities, government declarations and so on
 "Bank Holidays in January 2024: Banks to remain closed for 16 days")