Page 128 - Latest Updates on Reserve Bank of India
RBI imposes Rs 2.2 crore penalty on Indian Overseas Bank for non-compliance
Two notices were issued to the bank advising it to show cause as to why penalty should not be imposed on it for failure to comply with the provisions of the Act and the directions issued by RBI
 "RBI imposes Rs 2.2 crore penalty on Indian Overseas Bank for non-compliance")
Shadows on sweet spot: Manufacturing grew the least among sectors in FY23
Some might conclude that manufacturing cannot be a leading sector without subsidies on inputs and cash pay-outs given for agri. But will such a manufacturing sector be viable, wonders T N Ninan
 "Shadows on sweet spot: Manufacturing grew the least among sectors in FY23")
RBI releases draft on cyber resilience, digital payment security controls
According to the RBI's release, the central bank has invited feedback from the shareholders on the same
 "RBI releases draft on cyber resilience, digital payment security controls")
Cause and effect: Are corporate profits fueling inflation globally
As the Federal Reserve continues with hikes, the linkage between corporate profit margins and inflation is blamed for consumer burden
 "Cause and effect: Are corporate profits fueling inflation globally")
Reserve Bank to conduct 14-day VRRR auction worth Rs 2 trillion today
India's banking system liquidity surplus has received a boost over the last few days and rose to Rs 1.76 trillion
 "Reserve Bank to conduct 14-day VRRR auction worth Rs 2 trillion today")
Liquidity surplus crosses Rs 1.75 trillion-mark on higher govt spending
The process to withdraw the Rs 2,000 note started from May 23
 "Liquidity surplus crosses Rs 1.75 trillion-mark on higher govt spending")
Digital transactions in India highest in world but why is cash still king?
The Reserve Bank of India believes that households in India hold more high-value currency notes at home while substituting lower-value notes with digital transactions
 "Digital transactions in India highest in world but why is cash still king?")
Explained: What are the tax implications of depositing Rs 2,000 notes?
Are you depositing Rs 2,000 notes in the bank? Will your deposits be monitored? Will you need to pay any tax on it? How can you avoid a tax notice on these deposits? Read to find the answer
 "Explained: What are the tax implications of depositing Rs 2,000 notes?")
Growth of bank credit to industry decelerates in April to 7%: RBI
Loan to agriculture and allied activities improved to 16.7 per cent (y-o-y) in April 2023 from 10.6 per cent a year ago
High staff attrition a significant operational risk to banks: RBI Dy Guv
Outsourcing, lack of succession planning and staff skilling also areas of concern, Jain says
Top headlines: 41% of FAME II target met, cut in Byju's valuation and more
Business Standard brings you top news at this hour
 "Top headlines: 41% of FAME II target met, cut in Byju's valuation and more")
India's fiscal deficit target of 5.9% for FY24 at risk, warns Nomura
A notable increase in RBI's income, which was driven by profits from foreign exchange sales amounting to Rs 1 trillion, reflects active intervention in the foreign exchange market
 "India's fiscal deficit target of 5.9% for FY24 at risk, warns Nomura")
RBI working on portable payment system for transactions during tragic times
Keeping this objective in mind, RBI has conceptualised the LPSS that will be independent of conventional technologies and can be operated from anywhere by a bare minimum staff
 "RBI working on portable payment system for transactions during tragic times")
RBI's balance sheet grows 2.5% to Rs 63.45 trn in FY23 on higher income
The size of the Reserve Bank's balance sheet increased by 2.5 per cent for the year ended on March 31 to about Rs 63.45 trillion on higher income, as per the central bank's annual report
Domestic financial markets remained orderly in 2022-23: RBI report
Reserve Bank of India (RBI) has said that in 2022-23 the domestic financial market movements remained orderly, notwithstanding persisting impact of global spillovers during the year
 "Domestic financial markets remained orderly in 2022-23: RBI report")
Growth momentum to hold amid easing inflation, says RBI annual report
At the same time, India's growth momentum is likely to be sustained in FY24 in an atmosphere of easing inflationary pressures, the RBI said in its annual report for 2022-23, released on Tuesday
 "Growth momentum to hold amid easing inflation, says RBI annual report")
Despite challenges, India will be in advantageous position in 2023-24: RBI
Reserve Bank of India (RBI) has said that domestic economic activity does face challenges from an uninspiring global outlook going forward
A note on India's commemorative coins, what's in demand and how to buy
India has issued more than 150 sets of commemorative coins since 1964 that are sold by govt mints; the Rs 75 coin is the latest
 "A note on India's commemorative coins, what's in demand and how to buy")
India's growth momentum likely to be sustained in 2023-24: RBI report
On the back of sound macroeconomic policies and softer commodity prices, India's growth momentum is likely to be sustained in 2023-24 in an atmosphere of easing inflationary pressures
Cosmos Coop Bank eyes more M&As in UCB space after Maratha Sahakari deal
Strategy forms part of lender's aim to expand its network to 200 branches
 "Cosmos Coop Bank eyes more M&As in UCB space after Maratha Sahakari deal")