Page 29 - Latest Updates on Reserve Bank of India
FIEO urges RBI to share info on banks offering rupee trade to aid exporters
The system simplifies trade and saves foreign exchange, but many exporters do not know where to access it
 "FIEO urges RBI to share info on banks offering rupee trade to aid exporters")
Poonam Gupta takes charge as RBI Deputy Governor, to join MPC in June
Poonam Gupta will oversee Monetary Policy, Research and Financial Stability departments at RBI and joins MPC as India debates targeting core versus headline inflation
RBI imposes penalty on ICICI, Axis, BoM, IDBI, BoB for violating norms
ICICI, Axis, Bank of Baroda, Bank of Maharashtra and IDBI Bank penalised by RBI for breaches including delayed reporting, excessive charges, and non-compliant operations
 "RBI imposes penalty on ICICI, Axis, BoM, IDBI, BoB for violating norms")
RBI fines ICICI, Axis, three other banks for regulatory compliance lapses
The RBI said the banks' non-compliance involved cybersecurity, customer charges, KYC norms, and internal account mismanagement
 "RBI fines ICICI, Axis, three other banks for regulatory compliance lapses")
India's forex reserves rise $1.98 bn to $688.13 bn, up for 8th week in row
This is the eighth consecutive week of a rise in the kitty, which had jumped 8.31 billion to $686.145 in the previous reporting week
 "India's forex reserves rise $1.98 bn to $688.13 bn, up for 8th week in row")
RBI working group recommends longer hours for interbank money markets
The Reserve Bank of India set up the group to study the changing needs of market participants
 "RBI working group recommends longer hours for interbank money markets")
RBI seeks 'vostro' accounts investment cap removal to push Rupee trade
The holders of such accounts can invest in Indian government debt without registering as foreign portfolio investors (FPIs), as overseas investors have to
 "RBI seeks 'vostro' accounts investment cap removal to push Rupee trade")
Jana Small Finance Bank may apply for universal bank licence this month
Jana Small Finance Bank will join AU Small Finance Bank and Ujjivan Small Finance in the list of the small finance banks that are seeking a universal banking licence from the RBI
 "Jana Small Finance Bank may apply for universal bank licence this month")
Why banking and financial services funds are seen as a good long-term bet
The BFSI space offers a broad mix of segments
 "Why banking and financial services funds are seen as a good long-term bet")
From today, ATM withdrawals beyond limit will cost you more: Details
The free limit under the new ATM rules has been set at three for metropolitan regions and five for non-metropolitan areas
 "From today, ATM withdrawals beyond limit will cost you more: Details")
Bank retail credit witness sharp slowdown in FY25; drops to 11.6%
Reserve Bank of India data showed the overall bank credit growth declined to 11 per cent in FY25 from 20.11 per cent in FY24
 "Bank retail credit witness sharp slowdown in FY25; drops to 11.6%")
After CEO exit, RBI okays IndusInd executives' panel to run the show
Analysts express reservation on appointment of a PSU banker as MD & CEO
February repo rate cut: Deposits rates inch up, lending rates fall
The weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of scheduled commercial banks stood at 6.65 per cent in March 2025
 "February repo rate cut: Deposits rates inch up, lending rates fall")
ATM withdrawals to cost more after free limit from May 1
From May 1, ATM withdrawals beyond free limits will cost ₹23 per transaction, as RBI hikes the cap on bank charges.
 "ATM withdrawals to cost more after free limit from May 1")
List of bank holidays in May 2025: Check before planning a branch visit
Holidays in several states will see banks closed on some days, though ATMs and online services will be available
 "List of bank holidays in May 2025: Check before planning a branch visit")
RBI approves interim leadership team after IndusInd CEO Kathpalia quits
IndusInd Bank CEO Sumant Kathpalia resigned after audit firm Grant Thornton found nearly ₹2,000 crore in losses related to the bank's derivatives portfolio
 "RBI approves interim leadership team after IndusInd CEO Kathpalia quits")
Bank holidays 2025: Are banks open on May 1st? Check the state-wise list
In celebration of Labour Day and Maharashtra Day, Indian stock markets, banks, and schools will all be closed on May 1, 2025. Workers' contributions are honoured on this official holiday
 "Bank holidays 2025: Are banks open on May 1st? Check the state-wise list")
RBI has room for more rate cuts, but with caution, says rate panel member
Going forward, continuing policy easing - both rate cuts and liquidity infusions - could eventually alter the growth-inflation
Bank holidays in May 2025: 12-day state-wise schedule and key dates
In May 2025, banks are scheduled to remain shut for 12 days due to state-wise regional and national holidays. Check complete list here
IndusInd Bank up for 5th straight day; gains 41% from March low, here's why
Arun Khurana, deputy CEO of IndusInd Bank, has resigned with immediate effect, taking responsibility for the ₹1,960 crore losses due to incorrect accounting of internal derivative trades.
 "IndusInd Bank up for 5th straight day; gains 41% from March low, here's why")