Page 121 - Latest Updates on Reserve Bank of India
Govt expects Reserve Bank surplus to easily surpass Budget targets
Arora pegged the government's budgeted expectation just from the RBI dividend at Rs 38,000-40,000 crore for FY24, which is set to be easily crossed now
 "Govt expects Reserve Bank surplus to easily surpass Budget targets")
SBI Funds Management gets RBI's nod to acquire 9.99% stake in HDFC Bank
The lender in the filing also stated that SBI Funds Management has been advised by the central bank to complete the said stake acquisition in the bank within a period of six months
 "SBI Funds Management gets RBI's nod to acquire 9.99% stake in HDFC Bank")
Stubborn funding squeeze risks derailing India's economic recovery
After a surge in recent weeks, the weighted average call rate which Reserve Bank of India closely monitors, has shot above its policy rate ceiling of 6.75%
 "Stubborn funding squeeze risks derailing India's economic recovery")
70% of MSMEs believe more than 50% of customers will pay using UPI
A report by NeoGrowth looks at the data from around 3,000 retail customers and 1,000 retail sellers across the country
 "70% of MSMEs believe more than 50% of customers will pay using UPI")
How will the Reserve Bank of India's new locker norms impact you?
New locker rules: Now, the relationship between a bank and a customer has become that of a lessor and a lessee
 "How will the Reserve Bank of India's new locker norms impact you?")
Have a good credit score, need quick money? Opt for unsecured loan
Since the interest rate is high and the loan tenure short, evaluate your repayment capacity carefully
 "Have a good credit score, need quick money? Opt for unsecured loan")
Shouldn't return to old pension system with same formula: C Rangarajan
Private investment needs to pick up if India's economic growth has to be sustained at 6-7%, says former RBI governor
 "Shouldn't return to old pension system with same formula: C Rangarajan")
RBI Grade B recruitment 2023: Application process begins for 291 posts
The last date for the application process to end is June 9, at 6 pm. Interested candidates can apply online by visiting the official website at opportunities.rbi.org.in
 "RBI Grade B recruitment 2023: Application process begins for 291 posts")
RBI asks citizens to settle fee, charges on forex prepaid cards in rupee
The internationalisation of the domestic currency would make domestic monetary policy more challenging but the option of compromising on growth by playing it safe is clearly not an optimal choice
 "RBI asks citizens to settle fee, charges on forex prepaid cards in rupee")
Reserve Bank of India imposes penalty worth Rs 1.75 crore on HSBC
Earlier in April, the central bank had imposed penalties totalling Rs 44 lakh on four cooperative banks
 "Reserve Bank of India imposes penalty worth Rs 1.75 crore on HSBC")
Here's how banks are coping with surge in cyber attacks, phishing, fraud
An RBI report on financial stability highlighted that the overall number of online banking frauds and card frauds increased from 1,532 in H1FY22 to 2,321 in H1FY23
 "Here's how banks are coping with surge in cyber attacks, phishing, fraud")
Demand for 5 days of work at banks hits speed bumps, likely to take time
Public sector banks will have to see that their business is not affected in case private banks decide to work on Saturdays
 "Demand for 5 days of work at banks hits speed bumps, likely to take time")
Global finance dominated by few currencies, need to de-risk: RBI DG
A handful of currencies currently dominate global finance, and there is a need for de-risking by diversifying the international currency system, Reserve Bank Deputy Governor T Rabi Sankar said
 "Global finance dominated by few currencies, need to de-risk: RBI DG")
RBI updates KYC instructions on wire transfers for banks, institutions
The Reserve Bank instructed banks and other financial institutions to ensure cross-border as well as domestic wire transfers contain complete information about the originator and beneficiary
India's green financing requirement estimated at 2.5% of GDP: RBI Study
India's green financing requirement is estimated to be at least 2.5 per cent of GDP annually till 2030, a Reserve Bank report said on Wednesday
 "India's green financing requirement estimated at 2.5% of GDP: RBI Study")
UCO Bank Q4 net profit rises 86% to Rs 581.24 cr, NPA down to 4.78%
The loan Book of UCO Bank also reached its highest-ever level of Rs 11.6 trillion against a loan book of Rs 12.9 trillion last year
 "UCO Bank Q4 net profit rises 86% to Rs 581.24 cr, NPA down to 4.78%")
State-run banks likely to launch special drive to recover written-off loans
The government has instructed public sector banks (PSBs) to focus on written-off loans, a senior official said
 "State-run banks likely to launch special drive to recover written-off loans")
As risks loom, RBI asks banks not to increase exposure to unsecured loans
The RBI has instructed banks to limit their unsecured loan portfolios to the levels seen in FY23, a CEO of a private bank said
 "As risks loom, RBI asks banks not to increase exposure to unsecured loans")
Looking closely at banks' business models: RBI governor Shaktikanta Das
Talking about operational resilience, Das said banks need effective policies regarding cyber risks
 "Looking closely at banks' business models: RBI governor Shaktikanta Das")
Succession planning at pvt banks is a major issue: RBI on board governance
At a first-of-its kind open house with bank boards next month, Mint Road can be expected to do some plain speaking on long-festering issues of management and ethics
 "Succession planning at pvt banks is a major issue: RBI on board governance")