Page 186 - Latest Updates on Reserve Bank of India
CAD reduces sequentially to 1.5% of GDP in Q4 as trade deficit moderates
The current account was in deficit to the tune of $ 8.1 billion (1 per cent of GDP) a year ago (Q4 of FY21)
 "CAD reduces sequentially to 1.5% of GDP in Q4 as trade deficit moderates")
RBI aim is to not have over-tightening or over-stimulus: MPC's Ashima Goyal
Central bank has to target inflation but with 'awareness of nuances',' she says in interview.
 "RBI aim is to not have over-tightening or over-stimulus: MPC's Ashima Goyal")
Govt won't offer tax waivers to be part of global bond index sooner
Under existing rules, an overseas investor is required to pay a short-term capital gains tax of 30% if a listed bond is sold within 12 months
 "Govt won't offer tax waivers to be part of global bond index sooner")
Economy to grow 7.5% in FY23, will be world's fastest growing: PM Modi
The prime minister also said his government has brought about transformative changes to enable technology-led growth, in sectors such as space, new economy, green energy, and data
 "Economy to grow 7.5% in FY23, will be world's fastest growing: PM Modi")
Fiscal weakness
State finances can impede growth
 "Fiscal weakness")
Unknown unknowns
Risk of a global shock will increase with higher rates
 "Unknown unknowns")
As RBI rings in changes, here is why SBI Cards is the darling of analysts
SBI Cards' market share in terms of the number of credit cards has moderated by around 10 basis points to 19.1 per cent
 "As RBI rings in changes, here is why SBI Cards is the darling of analysts")
FPIs jettison some sectors twice as fast the overall rate of outflows
Some got incremental inflows even amid the exodus, reveals fortnightly depository data
 "FPIs jettison some sectors twice as fast the overall rate of outflows")
Big rate hikes to be the global norm as inflation remains a challenge
With no end in sight to Russia's invasion of Ukraine, commodity prices remain elevated and supply chains remain disrupted
 "Big rate hikes to be the global norm as inflation remains a challenge")
Foreign exchange reserves up by $30.3 bn in FY22, shows RBI data
The Reserve Bank of India on Wednesday released Sources of Variation in Foreign Exchange Reserves in India during 2021-22
 "Foreign exchange reserves up by $30.3 bn in FY22, shows RBI data")
MPC minutes flag inflation worry; aim to bring CPI within target band by Q4
CPI inflation was 7.04% in May. In its June policy review, the MPC raised repo rate by 50 bps to 4.9%, taking the total tally of rate hikes since May to 90 bps
 "MPC minutes flag inflation worry; aim to bring CPI within target band by Q4")
Yes Bank launches FD linked to repo rate, with mark-up of 1.1-1.6%
Lender also raises interest rates on standard FDs, capping them at 6.5% for regular customers, 7.25% for seniors
 "Yes Bank launches FD linked to repo rate, with mark-up of 1.1-1.6%")
Ban on loading through credit lines: PPIs call for clarity from RBI
Opinion is divided over whether or not the circular will impact the popular 'Buy Now Pay Later (BNPL)' schemes offered by many fintechs
 "Ban on loading through credit lines: PPIs call for clarity from RBI")
Cut-off yields ease by 7-8 bps at State bond auction as borrowings taper
This week, spread between weighted average 10-year SDL and 10-year GOI bond yield was up slightly to 37 bps from 36 bps earlier
 "Cut-off yields ease by 7-8 bps at State bond auction as borrowings taper")
RBI extends date for implementing provisions on credit, debit card issuance
Issuers given more time for OTP-based activation, ensuring credit limit is not breached without cardholder's consent
 "RBI extends date for implementing provisions on credit, debit card issuance")
HDFC Bank to shift payments from core banking, ensure minimal downtime
This would pave way for minimal payments downtime
 "HDFC Bank to shift payments from core banking, ensure minimal downtime")
Operating profit growth of listed firms decelerated in Q4 of FY22: RBI data
Operating profit of manufacturing companies decelerated sharply to 7 per cent in the fourth quarter of last fiscal as against 70 per cent in the corresponding quarter of the preceding fiscal
 "Operating profit growth of listed firms decelerated in Q4 of FY22: RBI data")
Non-banks not allowed to load credit lines on prepaid wallets, cards: RBI
This circular by the RBI is likely to impact those fintech players who offer credit lines to customers via their wallets in association with non-banking finance players.
Bond yields plunge, rupee gains as easing crude oil buoys markets
The rupee ended the day at 77.98 to a dollar against a close of 78.07 on Friday
 "Bond yields plunge, rupee gains as easing crude oil buoys markets")
How Indian, Russian banks plan to bypass sanctions to facilitate trade
In a bid to ensure smooth flow of trade without violating the West's economic sanctions on Russia, the Indian banks will open accounts with their Russian counterparts, and vice versa
 "How Indian, Russian banks plan to bypass sanctions to facilitate trade")