Page 154 - Latest Updates on Reserve Bank of India
Onset of festive season pushes credit growth across sectors in September
Housing and vehicle loans lead surge in retail credit, which was up 19.6% YoY
 "Onset of festive season pushes credit growth across sectors in September")
Growth of core sector output recovers to 3-month high in September
The Reserve Bank of India last month also revised its growth forecast for FY23 to 7 per cent from 7.2 per cent estimated earlier
 "Growth of core sector output recovers to 3-month high in September")
Centre's fiscal deficit in H1 touches 37.3% of full-year target
The Centre is hopeful of keeping the fiscal deficit at 6.4 per cent of nominal GDP in FY23
 "Centre's fiscal deficit in H1 touches 37.3% of full-year target")
India's inflation numbers may be lower than official data suggests: Report
India's inflation numbers might be better than official data suggests once the massive impact of a government food program is factored in, according to a report released Monday
 "India's inflation numbers may be lower than official data suggests: Report")
RBI's central board discusses prevailing economic situation, challenges
The 598th meeting of the central board was held under the chairmanship of Governor Shaktikanta Das, the RBI said in a statement
 "RBI's central board discusses prevailing economic situation, challenges")
Pilot for digital rupee for wholesale segment to commence on November 1
Use case to be settlement of secondary market transactions in g-secs; RBI says digital rupee is expected to make inter-bank market more efficient, as settlement will reduce transaction costs
 "Pilot for digital rupee for wholesale segment to commence on November 1")
A healthy debate: The case for and against interest rate hike
Having raised policy rates to about 6 per cent, does India's Monetary Policy Committee need to do more? And, if so, is more front-loading warranted?
 "A healthy debate: The case for and against interest rate hike")
RBI fines Vakrangee Rs 1.76 cr for violating order on ATM deployment goals
Central bank had first issued show-cause; latest action follows company's response to the notice
 "RBI fines Vakrangee Rs 1.76 cr for violating order on ATM deployment goals")
Key role for banks in offering best intermediation services: RBI's Patra
Calls for world-class financial intermediation services with Indian economy poised to surpass Germany and Japan a few years and nation's population set to become world's largest and youngest
 "Key role for banks in offering best intermediation services: RBI's Patra")
US markets set for a year-end rally despite recession concerns: Chris Wood
A rally in the US markets amid hope of a softer central bank (US Fed) action going ahead, analysts believe, has the potential to fuel a rally in other global equity markets, including India
 "US markets set for a year-end rally despite recession concerns: Chris Wood")
On high inflation, here is what RBI needs to tell govt: It is your fault
All the research since 1980 shows that loose fiscal policy causes inflation, and the RBI MPC needs to tell the govt just that
Credit card base of major issuers erodes in Q2 over RBI's norms
SBI Card was exception as gains card base, market share
 "Credit card base of major issuers erodes in Q2 over RBI's norms")
Remove withdrawal restrictions on digital BSBD accounts payment: Report
Such a fee imposed on e-commerce merchants and institutions who cannot transact in currency notes would be more in line with 'digital payment facilitation fee'
Top Headlines: CBIC seeks details on digital assets, govt to form GACs
Business Standard brings you the top headlines at this hour
 "Top Headlines: CBIC seeks details on digital assets, govt to form GACs")
Foreign exchange reserves fall to $525 billion, lowest since July 2020
So far in 2022, the Indian currency has weakened 9.9 per cent against the US dollar
 "Foreign exchange reserves fall to $525 billion, lowest since July 2020")
RBI steps up fund infusion as system liquidity 'almost neutral'
Rates on CPs, CDs surge; pressure mounts on banks to raise deposits
 "RBI steps up fund infusion as system liquidity 'almost neutral'")
Bengal breached borrowing limit by seeking loan of Rs 10K cr from RBI: BJP
Suvendu Adhikari claimed that West Bengal has "breached its borrowing limit" under the Fiscal Responsibility & Budget Management (FRBM) Act
 "Bengal breached borrowing limit by seeking loan of Rs 10K cr from RBI: BJP")
RBI release suggests Nov MPC meet only to discuss inflation target failure
MPC may decide RBI's response to govt on the matter; Unlike earlier off-cycle meetings in which interest rate action was taken outside schedule without prior notice, this one was announced in advance
 "RBI release suggests Nov MPC meet only to discuss inflation target failure")
India's forex reserves touch $524.5 bn, lowest level since July 2020
The primary reason for the decline is foreign currency assets, which recorded a dip of $3.5 billion to $465 billion
 "India's forex reserves touch $524.5 bn, lowest level since July 2020")
RBI reviewing regulation for governing non-core business of banks
The modifications in relation to banks' non-core business could be made by amending the Banking Regulation Act
 "RBI reviewing regulation for governing non-core business of banks")