Page 179 - Latest Updates on Reserve Bank of India
Govt draws up plan to bolster PSU bank boards, hold directors accountable
With amendments to banking Act, it seeks to notify tenure for chairman
 "Govt draws up plan to bolster PSU bank boards, hold directors accountable")
Remittances from Gulf countries dropped sharply in FY21 due to Covid: RBI
The share of inward remittances from Gulf nations dipped sharply during 2020-21 on account of the economic stress created by the COVID-19 pandemic, said an RBI article
 "Remittances from Gulf countries dropped sharply in FY21 due to Covid: RBI")
Front-loading monetary policy action can anchor inflation expectations: RBI
By front-loading rate hikes, RBI can cement the credibility of its monetary policy intent and action when it fights supply-side inflation on one hand and also contains the negative impact on growth
Muted impact of Fed's Taper 2 on India due to strong external position: RBI
The impact of US Federal Reserve's announcement in November last year to taper its asset purchases was "moderate" on Indian financial markets largely due to the country's strong external position
 "Muted impact of Fed's Taper 2 on India due to strong external position: RBI")
Worst of inflation may be behind us, RBI staff say in July 2022 Bulletin
According to the July Bulletin article, the current level of reserves were equivalent to 9.5 months of imports projected for 2022-23
 "Worst of inflation may be behind us, RBI staff say in July 2022 Bulletin")
Reserve Bank remains net buyer of US currency in May; buys $2 billion
The Reserve Bank of India (RBI) remained net buyer of the US currency in May, after it purchased USD 2.001 billion on net basis from the spot market, the RBI data showed.
 "Reserve Bank remains net buyer of US currency in May; buys $2 billion")
RBI, Bank Indonesia agree to expand cooperation in payment systems
The Reserve Bank of India and Bank Indonesia on Saturday entered into an agreement to expand cooperation in payment systems, digital financial innovation
We are looking at being distinctive as a bank: Axis Bank MD & CEO
In a Q&A, Axis Bank MD & CEO Amitabh Chaudhry says bank's core leadership is focused on 19 transformative initiatives, at both business and functional levels in order to become better execution engine
 "We are looking at being distinctive as a bank: Axis Bank MD & CEO")
YES Bank, JC Flowers in pact for ARC in bid to seal largest ever NPA deal
This is being termed the single-largest bad loan deal
 "YES Bank, JC Flowers in pact for ARC in bid to seal largest ever NPA deal")
Rupee keeps off 80 per dollar; foreign exchange reserves at 15-month low
The latest data showed that the RBI's headline foreign exchange reserves declined by $8.1 billion in the week ended July 8
 "Rupee keeps off 80 per dollar; foreign exchange reserves at 15-month low")
FRAs back in vogue, help insurers in fixed rate of interest for payouts
Forward Rate Agreements enables insurers lock in a fixed rate of interest rate for a future pay out
 "FRAs back in vogue, help insurers in fixed rate of interest for payouts")
Group representing Indian crypto exchanges to be dismantled: Report
The Internet and Mobile Association of India (IAMAI) is dismantling BACC after disagreement and allegations that crypto exchanges were not following an internal code of conduct
 "Group representing Indian crypto exchanges to be dismantled: Report")
OneCard is India's 104th unicorn, raises $100 mn in Series D led by Temasek
The latest round by OneCard, owned by Pune-based FPL Technologies, also saw investment from existing investors such as QED, Sequoia Capital, and Hummigbird Ventures
 "OneCard is India's 104th unicorn, raises $100 mn in Series D led by Temasek")
Securitisation volumes jump 70% to Rs 35,000 cr in Q1: CRISIL report
The Reserve Bank of India defines securitisation as transactions where credit risks in assets are redistributed by repackaging them into tradable securities
 "Securitisation volumes jump 70% to Rs 35,000 cr in Q1: CRISIL report")
India can weather turbulence without damage to credit ratings: S&P
India is likely to lead the region with 7.3 per cent growth in 2022-23 after the GDP grew 8.7 per cent in 2021-22, said the rating agency
 "India can weather turbulence without damage to credit ratings: S&P")
As rupee falls, spread between India and US bond yields tightens
In comparison, the recent decline in the yield spread is because bond yields in the US have risen faster than in India
 "As rupee falls, spread between India and US bond yields tightens")
Strength and opportunity: What rupee going 'international' will mean
The rupee is partially convertible. It attained current account convertibility in the early- through mid-1990s. This means the rupee can be converted to any foreign currency at existing market rates
 "Strength and opportunity: What rupee going 'international' will mean")
Banks' asset-quality risk to be moderate after RBI rate hike: Fitch Ratings
'Mounting repayment pressure for some borrowers amid India's interest rate hikes, particularly for micro, small and medium-sized enterprises, will test banks' loan underwriting quality'
 "Banks' asset-quality risk to be moderate after RBI rate hike: Fitch Ratings")
News on RBI nod for ARC stake speculative, lacks bonafide sources: YES Bank
YES Bank clarified that it had indeed started the process of seeking a partner for an asset reconstruction company through a public expression of interest, but added that the process is still underway
ED probing some entities, employees over irregularities, says IndusInd Bank
IndusInd Bank says it has no credit exposure to the entities being investigated
 "ED probing some entities, employees over irregularities, says IndusInd Bank")