Page 120 - Latest Updates on Reserve Bank of India
P R Seshadri to become new managing director and CEO of South Indian Bank
He holds Bachelor's degree in Electrical Engineering from the Delhi College of Engineering and a Post Graduate Diploma in Management from Indian Institute of Management, Bangalore
 "P R Seshadri to become new managing director and CEO of South Indian Bank")
The weekly government bond auction sees firm demand, say dealers
The cut-off at the auction was better than expected, which weighed on the yields in the secondary market by the end of the trade
 "The weekly government bond auction sees firm demand, say dealers")
What is RBI's pilot project for facilitating frictionless credit?
The Reserve Bank Innovation Hub, a wholly-owned subsidiary of the central bank, has developed the end-to-end digital platform
 "What is RBI's pilot project for facilitating frictionless credit?")
Foreign exchange reserves up $700 mn to $602 bn, snap 3-week losing streak
The changes in foreign currency assets, expressed in dollar terms, include the effects of appreciation or depreciation of other currencies held in the Reserve Bank of India's (RBI) reserves
 "Foreign exchange reserves up $700 mn to $602 bn, snap 3-week losing streak")
RBI allows infra debt funds to raise money via foreign loan route
IDF-NBFCs were earlier allowed to raise funds through rupee or dollar-denominated bonds of minimum five-year maturity, to the extent of up to 10 per cent of their total outstanding borrowings
 "RBI allows infra debt funds to raise money via foreign loan route")
Provide borrowers option to switch to fixed interest rates: RBI to banks
In order to address these concerns, RBI asked entities regulated by it to put in place an appropriate policy framework
 "Provide borrowers option to switch to fixed interest rates: RBI to banks")
India needs major reforms in food supply management: RBI researchers
These reforms will lead to efficiency and productivity gains and enable "stable prices for consumers, assured supplies and remunerative proceeds for farmers," it said
 "India needs major reforms in food supply management: RBI researchers")
Lenders can impose penalty on defaults only as 'penal charges': RBI
Regulated entities are barred from imposing such charges in the 'penal interest' that is added to the rate of interest charged on the advances
Top headlines: 7% Indians want doctors to prescribe generic drugs and more
Business Standard brings you the top headlines at this hour
 "Top headlines: 7% Indians want doctors to prescribe generic drugs and more")
'No further interest on penal charges': RBI issues new guidelines for loans
RBI's new instructions on penal charges on loans shall come into effect from January 1, 2024
 "'No further interest on penal charges': RBI issues new guidelines for loans")
RBI bought $4.50 billion in the spot foreign exchange market in June
The RBI's net outstanding forward purchase by the end of June stood at $19.47 billion, slightly higher than the previous month's figure of $19.27 billion
Flows into NRI deposits grow multi-fold to $2.14 billion in first quarter
Outstanding deposits rise in June 23 over Dec 22
 "Flows into NRI deposits grow multi-fold to $2.14 billion in first quarter")
Investment cycle gaining momentum, envisaged capex to jump over 80%: RBI
Cleaning up of balance sheets by both corporates and banks makes room for upping lending activities, the article, which draws from the RBI's data from banks
Participation of non-bank entities in govt debt mkt rose during pandemic
The report also found that non-bank investors are more sensitive to changes in government securities yields compared to their banking counterparts
 "Participation of non-bank entities in govt debt mkt rose during pandemic")
RBI launches 'UDGAM', centralised web portal for unclaimed deposits
The web portal will help users identify and approach their banks for either claiming unclaimed deposits or making their deposit accounts operative at their banks, the RBI said
India's OIS factors in one more rate hike, bond yields near top: Traders
Banks have been asked to maintain an incremental cash reserve ratio of 10% on increase in deposits between May 19 and July 28, and this would withdraw over one trillion rupees ($12.03 billion)
RBI likely sold dollars via PSBs to keep rupee from record lows: Traders
The RBI likely sold dollars to pull the rupee back near the 83 level
 "RBI likely sold dollars via PSBs to keep rupee from record lows: Traders")
Emerging Asian bond investors turn cautious as rate cut wagers disappears
Market sentiment is starting to shift as rising commodity prices keep the policymakers from letting their guard down on inflation
 "Emerging Asian bond investors turn cautious as rate cut wagers disappears")
Fitch warns rapid growth in unsecured retail credit needs management
Operating environment for Indian banks improved as economic risk recede
 "Fitch warns rapid growth in unsecured retail credit needs management")
Padmaja Reddy's Keertana Finserv pegs AUM at Rs 3,000 cr by March 2025
Padmaja Reddy's Keertana Finserv pegs AUM at Rs 3,000 cr by March 2025
 "Padmaja Reddy's Keertana Finserv pegs AUM at Rs 3,000 cr by March 2025")