Page 199 - Latest Updates on Reserve Bank of India
MPC panel to get a new face: Rajiv Ranjan likely to replace Mridul Saggar
Rajiv Ranjan likely to replace Mridul Saggar in rate-setting panel
 "MPC panel to get a new face: Rajiv Ranjan likely to replace Mridul Saggar")
As NITI vice-chairperson, Suman Bery will now be expected to guide policy
Bery will replace incumbent Rajiv Kumar as Niti Aayog vice-chairperson from the next month
 "As NITI vice-chairperson, Suman Bery will now be expected to guide policy")
Want to beat inflation? Hedge your portfolio with exposure to gold
Stock investors must avoid highly leveraged companies and those trading at steep valuations to beat inflation.
 "Want to beat inflation? Hedge your portfolio with exposure to gold")
India's foreign exchange reserves down $311 million to $603.7 billion
In the previous week ended April 8, the reserves had declined by USD 2.471 billion to stand at USD 604.004 billion.
 "India's foreign exchange reserves down $311 million to $603.7 billion")
RBI may be more open to granting credit card licences to NBFCs: Macquarie
RBI also made it clear that NBFCs will have to take prior approval from the RBI for issuing credit cards to their customers.
MPC minutes: Governor Das said RBI must match up to 'dynamic situations'
The five other members had also expressed a similar opinion amid the ongoing Russia-Ukraine conflict's impact on the global and domestic economies
 "MPC minutes: Governor Das said RBI must match up to 'dynamic situations'")
Loved by banks, bond trade worth Rs 2 trn faces scrutiny from RBI
Traders argue that the transactions are structured as so-called forward rate agreements, which are permitted by the RBI, allowing them to clear internal compliance checks
RBI launches next round of quarterly survey to assess business sentiment
The survey assesses business sentiment and expectations based on qualitative responses on a set of indicators pertaining to demand conditions, financial conditions, employment and the price situation
 "RBI launches next round of quarterly survey to assess business sentiment")
India must boost credit, labour to raise growth potential, says IMF
"We had lost two years of growth" because of the pandemic, Choueiri said in a separate interview Friday with Bloomberg Television's Kathleen Hays. "There is still catch up growth happening in India."
 "India must boost credit, labour to raise growth potential, says IMF")
RBI says non-banks need approval to issue credit cards, lists more rules
Minimum net-owned fund mandated at Rs 100 crore; cards cannot be unilaterally upgraded.
 "RBI says non-banks need approval to issue credit cards, lists more rules")
RBI directs UCBs to eliminate honorary positions within one year
The Reserve Bank on Thursday asked Urban Cooperative Banks (UCBs) not to create create any honorary position or title such Chairman Emeritus and Group Chairman at the board level
RBI sets 3-year deadline for non-individual borrowers to get tracking code
The LEI is a 20-character alpha-numeric code used to uniquely identify parties to financial transactions worldwide
Digital delivery
New-age banks will increase inclusion
 "Digital delivery")
RBI prohibits issuance of unsolicited cards by issuers, warns of penalty
It also asked card issuers and third-party agents not to resort to intimidation or harassment during recovery of dues from customers
Money sent abroad for travel grew threefold in February: RBI data
Reserve Bank of India (RBI) data showed in FY21, Indians spent about $3.23 billion for travel, sharply down from $6.95 billion in FY20.
 "Money sent abroad for travel grew threefold in February: RBI data")
Reserve Bank of India's latest norms won't be disruptive to NBFCs
Intend to narrow regulatory arbitrage between banks and shadow banks
 "Reserve Bank of India's latest norms won't be disruptive to NBFCs")
RBL Bank finalises next MD and CEO; sends names for RBI approval
The Board at its meeting held on Wednesday accepted the recommendations of the nomination and remuneration Committee, RBL said in a regulatory filing
 "RBL Bank finalises next MD and CEO; sends names for RBI approval")
Floater funds back in focus as interest rates are all set to climb
They are best suited among the bouquet debt funds to sail through volatility in debt markets, say industry players
 "Floater funds back in focus as interest rates are all set to climb")
RBI imposes Rs 17 lakh fine on Manappuram Fin for violating KYC, PPI norms
The penalty has been imposed in exercise of powers vested in RBI under Section 30 of the Payment and Settlement Systems Act, 2007, the regulator said in a release
 "RBI imposes Rs 17 lakh fine on Manappuram Fin for violating KYC, PPI norms")
RBI turns net purchaser of US currency in February, buys $771 mn
In the reporting month, the central bank bought $5.946 billion and sold $5.175 billion in the spot market, RBI said in its monthly bulletin for April 2022