Page 149 - Latest Updates on Reserve Bank of India
Paytm dips 4% intra-day as RBI asks arm not to onboard new online merchants
This has no material impact on our business and revenues, since the communication from RBI are applicable only to on boarding of new online merchants, Paytm said
 "Paytm dips 4% intra-day as RBI asks arm not to onboard new online merchants")
Top Headlines: Air India on metro-to-metro routes; RBI rate hike & more
A Business Standard poll shows that the Reserve Bank of India's (RBI's) Monetary Policy Committee (MPC) is likely to announce a 35-basis point (bp) hike in the repo rate on December 7
 "Top Headlines: Air India on metro-to-metro routes; RBI rate hike & more")
Public Credit Registry: What's that?
PCR needs to be backed and governed by a comprehensive Public Credit Registry Act in consultation with the govt, and it must follow the latest privacy guidelines based on a laid-down consent framework
Economists see 35 bps rate hike, then a pause: BS monetary policy poll
Some expect a slight reduction in GDP growth forecast
 "Economists see 35 bps rate hike, then a pause: BS monetary policy poll")
Indian industries urge RBI to consider moderating pace of rate hikes
In order to reduce the multi-year high inflation, the RBI has increased the policy repo rate by 190 basis points since May of the ongoing fiscal year
 "Indian industries urge RBI to consider moderating pace of rate hikes")
India seeks to shrink budget deficit by 50bps as global headwinds loom
What complicates matters for Sitharaman is that her food and energy bills are inflated by the war in Ukraine and given India runs a current-account deficit as well, the rupee has been weakening
 "India seeks to shrink budget deficit by 50bps as global headwinds loom")
Forex reserves rise for second week in a row; up $2.5 bn to $547.25 bn
The latest data marks the first time since May that the RBI's reserves have risen for two consecutive weeks
 "Forex reserves rise for second week in a row; up $2.5 bn to $547.25 bn")
Hike interest rates by 25-35 basis points in Dec: Economists to RBI
The meeting was held ahead of the RBI's next monetary policy review, which is scheduled December 5-7
 "Hike interest rates by 25-35 basis points in Dec: Economists to RBI")
RBI's Housing Price index up 4.5% in Q2, Kochi tops chart with 11.5% rise
Four of the 10 cities in the index recorded sequential contraction, the others posted expansion
 "RBI's Housing Price index up 4.5% in Q2, Kochi tops chart with 11.5% rise")
Selecting a target maturity fund based on your horizon and risk appetite
Constitution of underlying indexes doesn't matter since all the three categories of bonds they invest in are safe
 "Selecting a target maturity fund based on your horizon and risk appetite")
RBI permits banks to open 12 special vostro accounts for trade in rupees
So far, not a single overseas trade transaction directly involving the rupee has taken place
 "RBI permits banks to open 12 special vostro accounts for trade in rupees")
RBI, UAE central bank discuss mechanism to trade in local currencies
Negotiations between India-GCC FTA expected in Jan-March quarter
 "RBI, UAE central bank discuss mechanism to trade in local currencies")
HDFC Bank awaiting RBI reply on subsidiary stake forbearance: Parekh
According to HDFC's latest annual report, the mortgage lender has over 10 subsidiaries, including HDFC Life Insurance, HDFC Ergo General Insurance, and HDFC Asset Management
 "HDFC Bank awaiting RBI reply on subsidiary stake forbearance: Parekh")
FM Sitharaman seeks to shrink budget deficit as global headwinds loom
A longstanding plan aims to shrink the shortfall to below 4.5% of GDP by 2025-26
 "FM Sitharaman seeks to shrink budget deficit as global headwinds loom")
RBI MPC blames global factors for high inflation in letter to Centre
The war in Ukraine and resultant spurts in energy and food costs, and supply disruptions caused by the pandemic are among main reasons cited by RBI for high inflation
 "RBI MPC blames global factors for high inflation in letter to Centre")
Central banks battling inequality? West might be catching up with India
A paper asks whether central banks should care about inequality. In India, the RBI has been doing it for decades
HDFC Bank elevates Bharucha as Deputy MD, appoints Zaveri as ED
Decision comes ahead of merger; RBI had halted move ahead of Aditya Puri's retirement
 "HDFC Bank elevates Bharucha as Deputy MD, appoints Zaveri as ED")
Retail inflation likely to ease in coming months: Finance ministry
The MER, however, warned that the global macroeconomic situation remained precarious and a recession in many advanced economies would impact India's exports
 "Retail inflation likely to ease in coming months: Finance ministry")
We should see core inflation dipping: RBI MPC member Ashima Goyal
Core inflation is calculated by largely stripping away the volatile components of food and fuel. Goyal was referring to certain products that have linkages with oil prices
 "We should see core inflation dipping: RBI MPC member Ashima Goyal")
Monetary policy faces severe information constraints: RBI DG Patra
The moment inflation is released by NSO, it gets hit by unanticipated shocks, says RBI Deputy Governor Michael Patra
 "Monetary policy faces severe information constraints: RBI DG Patra")