Page 150 - Latest Updates on Reserve Bank of India
Interest subvention on KCC crop loan to continue in FY23, FY24: RBI
The government of India has approved the continuation of the Interest Subvention Scheme (ISS) with modification for the financial years 2022-23 and 2023-24, RBI said
 "Interest subvention on KCC crop loan to continue in FY23, FY24: RBI")
GSTN now part of AA network to facilitate cash flow lending to MSMEs: RBI
The AA network had been in discussion with the GSTN network for their onboarding for a long time as this would give financial institutions access to data regarding small businesses
 "GSTN now part of AA network to facilitate cash flow lending to MSMEs: RBI")
Banks' overnight SDF balances eligible for LCR computation: RBI
Circular embraces all commercial banks, leaves out local area banks, RRBs and payments banks
 "Banks' overnight SDF balances eligible for LCR computation: RBI")
GDP growth may have beaten MPC estimate of 6.3% in Q2, say most economists
The GDP numbers for the second quarter of the current financial year are scheduled to be out by this month end
 "GDP growth may have beaten MPC estimate of 6.3% in Q2, say most economists")
Top Headlines: Oz parliament okays FTA with India, RBI rate hike & more
The Australian Parliament on Monday ratified the Economic Cooperation and Trade Agreement (ECTA) with India, paving the way for implementing the deal as early as January 1, 2023
 "Top Headlines: Oz parliament okays FTA with India, RBI rate hike & more")
Key indicator suggests RBI may go for another 35 bps rate hike before pause
The expectation of the RBI's rate hike cycle ending after December is further elucidated by a rare occurrence -- an inversion in the swap curve
 "Key indicator suggests RBI may go for another 35 bps rate hike before pause")
HDFC Bank, Canara Bank get RBI approval for rupee trade with Russia
Three others got permission earlier, but no deal so far
 "HDFC Bank, Canara Bank get RBI approval for rupee trade with Russia")
Indian states' fiscal deficit rose nearly 79 per cent after lockdown: RBI
The RBI's Handbook of Statistics on Indian States showed that apart from Arunachal Pradesh, Haryana, Sikkim and Odisha, all the states saw a higher fiscal deficit in FY21 as compared to FY20
 "Indian states' fiscal deficit rose nearly 79 per cent after lockdown: RBI")
NPCI holds talks with RBI on proposed December 31 volume cap deadline
At the moment, NPCI is evaluating all the possibilities and no final decision has been taken to extend the December 31 deadline, the sources said
 "NPCI holds talks with RBI on proposed December 31 volume cap deadline")
Outward remittances under liberalised remittance scheme jump 50% in H1
During the second quarter of FY23, remittances stood at $7.3 billion, compared to $5.2 billion a year ago
 "Outward remittances under liberalised remittance scheme jump 50% in H1")
Global accounting standards convergence crucial for capital inflows: Khara
Khara said the accounting profession has contributed to identifying the quality of assets that are sitting in the books of various banks
 "Global accounting standards convergence crucial for capital inflows: Khara")
Flows into NRI deposits surge in April-Sept, but outstanding amount falling
NRE deposits were at $100.8 billion in March
 "Flows into NRI deposits surge in April-Sept, but outstanding amount falling")
At the crossroads: How are ARCs to augment their capital to Rs 300 crore?
The asset reconstruction business is in for a big change, but there are doubts if this will lead to better results
 "At the crossroads: How are ARCs to augment their capital to Rs 300 crore?")
RBI report flags large-scale variation in property tax collection in states
It may look surprising but it is a fact that the property tax revenue of the municipal bodies in Delhi is much more than that of bigger states including Uttar Pradesh, Madhya Pradesh, Rajasthan
 "RBI report flags large-scale variation in property tax collection in states")
Risk of global hard landing, but India differently placed: Shaktikanta Das
Das had said earlier this year that the RBI was striving to ensure a 'soft landing' for the Indian economy while bringing domestic inflation back to the central bank's 4 per cent target over a period
 "Risk of global hard landing, but India differently placed: Shaktikanta Das")
Economy resilient, on track to grow at about 7% in FY23: RBI report
Headline inflation showing signs of easing, it says
Trend shift? Bank deposits rise four times versus credit outflows
Credit rose by Rs 0.43 trillion to Rs 129.26 trillion and deposits grew by Rs 1.7 trillion to Rs 173.7 trillion in the reporting fortnight
 "Trend shift? Bank deposits rise four times versus credit outflows")
Govt raises PSB CEO term to 10 years, seeks younger talent at the top
A candidate can be appointed for 5 years initially, extendable for another five years; this is also applicable for executive directors who are also wholetime directors
 "Govt raises PSB CEO term to 10 years, seeks younger talent at the top")
Banks' loans rose 17% Y-o-Y in two weeks to Nov 4, deposits up 8.2%: RBI
Bank deposits rose Rs 1.69 trillion to Rs 173.70 trillion in the two weeks to Nov 4
 "Banks' loans rose 17% Y-o-Y in two weeks to Nov 4, deposits up 8.2%: RBI")
Govt had no outstanding loans from RBI in Nov 11 week: Supplement release
The central government had no outstanding loans in the week earlier as well