Page 2 - Latest Updates on Reserve Bank of India
India draws nearly $10 billion under RBI's deposit drive to support rupee
The RBI announced a zero-cost foreign-exchange swap facility at its June 5 policy meeting for deposits raised from non-resident Indians, allowing banks to offer higher returns on such deposits
 "India draws nearly $10 billion under RBI's deposit drive to support rupee")
India asks state-owned banks to step up foreign currency deposits
The Centre has asked state-run banks to intensify efforts to mobilise NRI deposits as policymakers seek to strengthen foreign exchange reserves
 "India asks state-owned banks to step up foreign currency deposits")
The poor's savings: The next frontier for NPCI and RBI Innovation Hub
For savings, the risk of default or malfeasance is borne by the vulnerable customer and, therefore, the regulator is cautious in allowing any latitude in experiments with savings products
 "The poor's savings: The next frontier for NPCI and RBI Innovation Hub")
Coming soon: KYC from home for NRIs, foreigners looking to invest in India
"Video KYC is blocked for IP (Internet Protocol) addresses outside India. we are seeing how to mitigate risks & open it up," said a Finmin official
 "Coming soon: KYC from home for NRIs, foreigners looking to invest in India")
Trai says 1600-, 140- number series can't be tagged and filtered
The telecom regulator said designated 1600 and 140 number series used for banking, financial and government communications cannot be tagged, blocked or filtered by apps
 "Trai says 1600-, 140- number series can't be tagged and filtered")
Avoid a costly early exit: Steps before surrendering an insurance policy
Assess the policy's returns, risks and liquidity restrictions, and ensure that you can sustain the premiums throughout its term
 "Avoid a costly early exit: Steps before surrendering an insurance policy")
Banks priority sector lending models may need a rethink, says SBI report
With banks comfortably exceeding lending targets and PSLC trading surging, experts say the RBI may need to revisit the priority sector lending framework to better serve financial inclusion goals
 "Banks priority sector lending models may need a rethink, says SBI report")
RBI faces $100 billion unwinding challenge after record defence of rupee
With a spate of recent measures expected to attract foreign capital, the RBI has started trimming its massive short dollar forward position, a stock of commitments to sell the greenback at future date
 "RBI faces $100 billion unwinding challenge after record defence of rupee")
RBI approves Mahesh Pai as South Indian Bank MD & CEO for three years
Yet another public sector banker takes charge of a pvt bank; Stock plunges 8.5%
 "RBI approves Mahesh Pai as South Indian Bank MD & CEO for three years")
RBI reiterates call for crypto curbs; tax department warns of evasion risks
India has allowed cryptocurrencies to exist in a grey zone since a court in 2018 struck down Reserve Bank of India (RBI) policies that effectively banned them
 "RBI reiterates call for crypto curbs; tax department warns of evasion risks")
Rupee tumbles to one-month low; crude spike pushes bond yields higher
The rupee recorded its sharpest one-day fall in a month on rising crude oil prices and renewed West Asia tensions, while the benchmark 10-year government bond yield climbed
 "Rupee tumbles to one-month low; crude spike pushes bond yields higher")
Indian banks curb short-term debt sales as RBI aids cheaper forex funding
No certificate of deposit issuance was recorded over three trading sessions as lenders turned to cheaper overseas forex funding backed by the RBI
 "Indian banks curb short-term debt sales as RBI aids cheaper forex funding")
StanChart shuts 20 India branches, sharpens focus on wealth management
The development comes as the British lender is turning its focus toward advisory-led services like wealth management
 "StanChart shuts 20 India branches, sharpens focus on wealth management")
India taxes crypto, but RBI still wants distance. Can both coexist?
Crypto is taxed, tracked and traded in India. But the RBI still refuses to recognise it as an asset class. Can this uneasy arrangement endure?
 "India taxes crypto, but RBI still wants distance. Can both coexist?")
Banks bet on Gulf, Singapore and Hong Kong to drive FCNR (B) flows
Banks expect the RBI's FCNR(B) deposit scheme to attract major inflows from the Gulf, Singapore and Hong Kong, with mobilisation expected to accelerate in August
 "Banks bet on Gulf, Singapore and Hong Kong to drive FCNR (B) flows")
M&A funding norms to intensify competition for private credit: Moody's
Moody's says RBI's new acquisition financing norms will intensify competition from banks, reshaping India's fast-growing private credit market
 "M&A funding norms to intensify competition for private credit: Moody's")
The great data game: Why data sovereignty matters more than ever before
The contest for data has only just begun. Those who govern it will shape the future
 "The great data game: Why data sovereignty matters more than ever before")
Renewing the cooperative promise
UCBs need to combine their cooperative values with contemporary capabilities
 "Renewing the cooperative promise")
Ujjivan SFB raises FCNR(B) deposit rate to 7.50% after RBI eases norms
Ujjivan Small Finance Bank raises interest rates on 3-5-year FCNR(B) deposits after the RBI removes the ceiling on fresh deposits of similar maturities
 "Ujjivan SFB raises FCNR(B) deposit rate to 7.50% after RBI eases norms")
Can cheaper bank funding spark India's next M&A cycle after RBI move?
Banks can now finance acquisitions under RBI's revised framework; experts say lower borrowing costs may improve deal economics, but valuations and strategic fit will continue to drive M&A decisions
 "Can cheaper bank funding spark India's next M&A cycle after RBI move?")