Page 245 - Latest Updates on Reserve Bank of India
RBI clears over Rs 21,000 cr towards CCL for wheat procurement in Punjab
RBI on Monday cleared a sum of Rs 21,658.73 crore towards Cash Credit Limit (CCL) up to end April-2021 for the procurement of wheat in Punjab during the ensuing rabi marketing season.
 "RBI clears over Rs 21,000 cr towards CCL for wheat procurement in Punjab")
RBI to go for dovish pause on Wednesday amid inflation, lockdowns: Analysts
RBI will go for a "dovish pause" at Wednesday's policy review announcement amid developments such as inflation rise and a likely impact on growth due to lockdowns on rising Covid cases, analysts said
 "RBI to go for dovish pause on Wednesday amid inflation, lockdowns: Analysts")
Monetary policy pause likely for entire year as Covid cases rise: BS poll
The policy, being the first in the fiscal year, could have many important policy measures spelled out
 "Monetary policy pause likely for entire year as Covid cases rise: BS poll")
Federal Bank's loans grow by 9% growth in FY21, deposits rise by 13 %
Provisional data showed that between early January and March 2021, advances rose Rs 6,696 crore, according to the lender's filing with BSE
 "Federal Bank's loans grow by 9% growth in FY21, deposits rise by 13 %")
Monetary policy: All eyes on RBI for orderly evolution of yields
Overall policy focus will remain on supporting growth through low and stable interest rates and abundant liquidity
 "Monetary policy: All eyes on RBI for orderly evolution of yields")
Rising Covid cases may prompt RBI to maintain status quo on rates: Experts
RBI Governor Shaktikanta Das headed six-member MPC is scheduled to meet from April 5 to 7. The policy meet outcome will be announced on April 7
India's forex reserves decline by $2.98 billion to $579.28 billion
The country's foreign exchange reserves declined by USD 2.986 billion to reach USD 579.285 billion in the week ended March 26, RBI data showed on Friday.
 "India's forex reserves decline by $2.98 billion to $579.28 billion")
RBI deputy governor BP Kanungo retires after completing 1-year extension
Against expectations of getting a second extension, the senior-most deputy governor BP Kanungo retired from the Reserve Bank on completion of his one-year extension on Friday.
 "RBI deputy governor BP Kanungo retires after completing 1-year extension")
Shades of status quo
Reversal of interest rate cut should have been avoided
 "Shades of status quo")
Exports of foreign arms accounted for 33% of their total sales in FY20: RBI
Exports of foreign subsidiaries in India accounted for 32.6 per cent of their total sales in 2019-20, according to RBI
 "Exports of foreign arms accounted for 33% of their total sales in FY20: RBI")
Stressed and not showing: Covid-19 relief hides true picture about banks
Banks seem to be doing better as India's economy recovers from the Covid-19 devastation. But be prepared for shocks when a true picture emerges, writes Devangshu Datta
 "Stressed and not showing: Covid-19 relief hides true picture about banks")
RBI gives payment firms 6-month breather to comply with new framework
Earlier, the RBI had asked the payment aggregators to stop storing card details within their database as per its March 2020 guidelines that were to take effect from July this year
 "RBI gives payment firms 6-month breather to comply with new framework")
Auto-debit payments: RBI extends timeline for implementation of new rules
The new norms were supposed to kick in from April 1 but neither banks nor the other stakeholders in the ecosystem had readied their system
 "Auto-debit payments: RBI extends timeline for implementation of new rules")
Govt to infuse Rs 14,500 crore in 4 banks, issue recapitalisation bonds
Special securities shall be non-interest bearing and no interest shall be payable on issue of the securities
 "Govt to infuse Rs 14,500 crore in 4 banks, issue recapitalisation bonds")
India records current account deficit of 0.2% in Dec quarter: RBI data
However, the current account remained in surplus at 1.7% for Apr-Dec 2020 as against in a deficit of 1.2% in Apr-Dec 2019
 "India records current account deficit of 0.2% in Dec quarter: RBI data")
SP Group's debt recast gets KV Kamath Committee, lenders approval
As part of the OTR plan, the Shapoorji Pallonji group has agreed to sell key assets, including its stakes in Eureka Forbes, Sterling and Wilson and land parcels, to raise Rs 10k cr and repay its loans
 "SP Group's debt recast gets KV Kamath Committee, lenders approval")
Centre tightens rules of grant allocation for transparency, efficiency
The Department of Expenditure order vouches for more effective cash management and bring more efficiency in public expenditure management
 "Centre tightens rules of grant allocation for transparency, efficiency")
Biggest rupee bear sees Asia's top performing currency hitting one-year low
Rupee is a surprise winner in Asia this year as expectations of an economic recovery, a rare current-account surplus and massive foreign inflows have shielded it from the impact of rising US yields
 "Biggest rupee bear sees Asia's top performing currency hitting one-year low")
Leading private banks to cancel auto-debit payments from April 1
RBI to fine Rs 5 lakh per instance of lapse. Given that millions of bank customers use the auto-debit facility, banks were staring at hundreds of crores in fines
 "Leading private banks to cancel auto-debit payments from April 1")
Automatic recurring payment to comply with RBI direction from April 1
As part of risk mitigation measure, RBI announced this step to bolster safety and security of card transactions