Page 188 - Latest Updates on Reserve Bank of India
India proposes settling Russia trade in rupees as purchases rise: Report
New Delhi plans to use about $2 billion equivalent of rupees deposited at Russia's state-controlled VTB Bank PJSC and Sberbank of Russia PJSC
 "India proposes settling Russia trade in rupees as purchases rise: Report")
Early assessment of banking sector health encouraging: RBI deputy guv
"The asset quality of banks has improved and the gross NPAs and net NPAs of the banks have improved from the pre-pandemic levels," Rao said
 "Early assessment of banking sector health encouraging: RBI deputy guv")
Inadequate infrastructure continues to impede IBC implementation
A paper by the Insolvency and Bankruptcy Board of India (IBBI) said the time taken between filing of an insolvency application and its admission increased to 650 days in financial year 2021
 "Inadequate infrastructure continues to impede IBC implementation")
Equitas Small Finance Bank gets RBI nod to reappoint Vasudevan as MD & CEO
Earlier in May this year, ESFB founder and CEO Vasudevan P N had asked the lender to look for his successor as he wanted to step down to pursue "a distinct set of goals"
 "Equitas Small Finance Bank gets RBI nod to reappoint Vasudevan as MD & CEO")
Policymakers look to rains, not just rates, to cool hot inflation: Report
Like its international peers, the Reserve Bank of India is expected raise rates aggressively over the next year to take some of the heat out of prices
 "Policymakers look to rains, not just rates, to cool hot inflation: Report")
NBFC profitability to remain stable amid 85-105 bps in funding cost: Crisil
Rs 15 trn debt as on March 31 is due for repricing in FY23 owing to interest reset or maturity. Another Rs 3 trn of incremental debt is likely to be raised to support growth in lending
 "NBFC profitability to remain stable amid 85-105 bps in funding cost: Crisil")
5 years of IBC: Debt-ridden RCom awaits court approval to allow UVARCL bid
While the RBI is now planning to allow ARCs to bid for bankrupt companies, RCom's resolution is now stuck in courts
 "5 years of IBC: Debt-ridden RCom awaits court approval to allow UVARCL bid")
Anand Mahindra, Venu Srinivasan, two others inducted in RBI board
Members are not involved in monetary policy, four of them will end their terms in August-September.
 "Anand Mahindra, Venu Srinivasan, two others inducted in RBI board")
RBI pulls up banks for flouting norms on infra loans to govt entities
Must follow instructions in 'letter and spirit'
State govt borrowing turns expensive after RBI's repo rate hike
Much less raised than the indicated Rs 16,800 crore
 "State govt borrowing turns expensive after RBI's repo rate hike")
Fitch sees another 100 bps policy rate hike by Dec, cites rising inflation
Growth will improve in June quarter as consumption revives and Covid-19 cases continue falling, it says
 "Fitch sees another 100 bps policy rate hike by Dec, cites rising inflation")
SBI joins industry trend, hikes interest rates on retail and bulk deposits
The hike in deposit rates follows the rate action by Reserve Bank of India's (RBI) Monetary Policy Committee in the June monetary policy
 "SBI joins industry trend, hikes interest rates on retail and bulk deposits")
Zydus Lifesciences' chairman appointed as director in RBI's board
Zydus Lifesciences on Tuesday said its chairman Pankaj R Patel has been appointed as a part time non-official director in the central board of the Reserve Bank of India (RBl).
 "Zydus Lifesciences' chairman appointed as director in RBI's board")
Fitch expects RBI to raise interest rates to 5.9% by December-end
Fitch Ratings said the Reserve Bank is likely to raise interest rates further to 5.9 per cent by December 2022, on deteriorating inflation outlook
 "Fitch expects RBI to raise interest rates to 5.9% by December-end")
RBI's regulation review authority moots periodic review of existing rules
Also suggests that regulatory instructions should contain a statement of objective underlying the rationale for their issuance, supplemented with FAQs/guidance notes and illustrations
Failed auto-debit requests ease to a 38-month low in May, shows NACH data
'Improving bounce-rate trajectory suggests slippages, credit cost will descend in FY23'
 "Failed auto-debit requests ease to a 38-month low in May, shows NACH data")
Asset quality not the criterion for transition: RBL Bank's Subramaniakumar
We need to continue with the strength the bank has leveraged in the past decade, Subramaniakumar said
 "Asset quality not the criterion for transition: RBL Bank's Subramaniakumar")
Dhanlaxmi sees a subdued EGM; financial concerns, rights issue discussed
The EGM was called by a group of minority shareholders unhappy with the workings of the bank and its financials
 "Dhanlaxmi sees a subdued EGM; financial concerns, rights issue discussed")
Both customers and banks to feel pain in new regime
The banks have a balm for their pain. Probably, shifting to floating rate deposits can work as an anaesthetic gel for some of the customers
IBC framework needs a booster dose; debt resolutions slacken in two years
According to the statistics by the Insolvency and Bankruptcy Board of India, since the provisions of IBC came into force in December 2016, as many as 5,258 insolvency cases have been filed by lenders
 "IBC framework needs a booster dose; debt resolutions slacken in two years")