Page 114 - Latest Updates on Reserve Bank of India
RBI eyes 1 mn digital currency transactions daily by year-end: DG
The RBI has devised the e-rupee as a digital alternative to physical cash - using blockchain distributed-ledger technology
 "RBI eyes 1 mn digital currency transactions daily by year-end: DG")
RBI governor Shaktikanta Das asks bank CEOs to focus on governance
Discusses large exposures, recoveries from written-off accounts
 "RBI governor Shaktikanta Das asks bank CEOs to focus on governance")
RBI governor asks banks to remain extra careful, focus on governance
The governor held meetings with the MD and CEOs of public sector banks and select private sector banks
 "RBI governor asks banks to remain extra careful, focus on governance")
Banks remain wary of RBI's VRRR auctions, park under 25% of target amount
RBI has held six VRRR auctions so far this month to remove excess liquidity from the system; total notified amount in the last five auctions was Rs 6 trn, in which banks have parked only Rs 364,232 cr
 "Banks remain wary of RBI's VRRR auctions, park under 25% of target amount")
Should states cough up higher interest rates for their fiscal profligacy?
Debate over how states manage their finances likely to pick up as the constitution of the 16th Finance Commission is round the corner
 "Should states cough up higher interest rates for their fiscal profligacy?")
SC rejects plea against RBI permitting Rs 2,000 exchange without ID proof
A bench of Chief Justice D Y Chandrachud and Justice P S Narasimha dismissed the appeal filed by lawyer Ashwini Updhyay in his personal capacity
 "SC rejects plea against RBI permitting Rs 2,000 exchange without ID proof")
India should move towards complete convertibility of rupee
The IDG believes that CAC is not a pre-condition for internationalisation of INR, or vice-versa, and makes several recommendations over the short-term and medium-term horizons
Bank of India plans share sale to meet Sebi's minimum public holding norms
State-owned Bank of India is exploring the possibility of share sale to investors over the next one year to meet the minimum public holding requirement of 25 per cent
 "Bank of India plans share sale to meet Sebi's minimum public holding norms")
RBI looking at coming out with fintech regulations: DG Rabi Sankar
The Reserve Bank is looking at coming out with a regulation for fintech players, Deputy Governor T Rabi Sankar said on Friday
 "RBI looking at coming out with fintech regulations: DG Rabi Sankar")
Decoded: What is internationalisation of rupee? How will it benefit India?
What does the internationalisation of the Indian rupee mean and how will it make India a competitor of the US dollar? Decoded here
 "Decoded: What is internationalisation of rupee? How will it benefit India?")
RBI looking to enhance fintech regulations, says Dy Guv T Rabi Sankar
The central bank has been monitoring the fintech space lately to ensure financial stability and mitigate risks related to cybersecurity and prevent fraud
 "RBI looking to enhance fintech regulations, says Dy Guv T Rabi Sankar")
India's campaign to internationalise rupee gets off to a slow start
The Reserve Bank of India has allowed more than a dozen banks to settle trades in rupees with 18 countries since last year and is encouraging big oil exporters to accept the Indian currency
 "India's campaign to internationalise rupee gets off to a slow start")
RBI governor Shaktikanta Das asks states to improve expenditure quality
At a disaggregated level, a few large states have debt-to GSDP ratios exceeding 35 per cent, the report added
 "RBI governor Shaktikanta Das asks states to improve expenditure quality")
Reserve Bank of India appoints P Vasudevan as new executive director
The appointment is with effect from July 3, RBI said in a statement
Indian lenders want RBI to conduct more overnight reverse repo auctions
The Indian central bank has been conducting shorter duration two-day VRRRs through the week, before being prompted by lenders to resort to an overnight auction
RBI permits UBS-owned Credit Suisse to keep Indian banking license
Tom Wipf from Morgan Stanley, who will play a key role in the tie-up of the two banks and in facilitating the integration of Credit Suisse and UBS
 "RBI permits UBS-owned Credit Suisse to keep Indian banking license")
RBI cancels licenses of two co-operative banks in Maharashtra, Karnataka
The two co-operative banks ceased to carry on banking business with effect from the close of business on Wednesday, RBI said in two separate statements
 "RBI cancels licenses of two co-operative banks in Maharashtra, Karnataka")
RBI issues draft circular on issuance of debit, credit, prepaid cards
RBI directive tells debit, credit and prepaid card issuers to give customers more freedom to choose networks
 "RBI issues draft circular on issuance of debit, credit, prepaid cards")
T-bills auction sees firm demand amid lower supply in quarter ending June
A few dealers said that the firm demand for T-bills may help steepen the yield curve in the second quarter
 "T-bills auction sees firm demand amid lower supply in quarter ending June")
Central banks set to diverge on rates as stubborn inflation stalks Fed, ECB
With another hike in interest rates anticipated by the Federal Reserve and the European Central Bank for July, and some peers on a similar track
 "Central banks set to diverge on rates as stubborn inflation stalks Fed, ECB")