Page 313 - Latest Updates on Reserve Bank of India
Sector-specific upticks far from gaining economy-wide traction: RBI MPC
India's economic growth is estimated to have slowed down to 11-year low of 5 per cent during the current financial year ending March 2020
 "Sector-specific upticks far from gaining economy-wide traction: RBI MPC")
RBI monetary policy committee torn between growth concerns, inflation fears
The MPC is mandated to keep inflation in a range of between 2% and 6% and recent data showed the retail inflation rate in January climbing to a more than six-year high of 7.59%
 "RBI monetary policy committee torn between growth concerns, inflation fears")
MPs' panel for dilution of default definition, but RBI flags concerns
The commercial or debt paper is the favourite route of corporates to raise funds when compared with loans from banks. They help meet short-term working capital requirements.
 "MPs' panel for dilution of default definition, but RBI flags concerns")
Kotak Mahindra Bank promoters get RBI nod to cap voting rights, pare stake
Promoters' voting rights would stand curtailed to 20% until March, and reduce further to 15% from April
 "Kotak Mahindra Bank promoters get RBI nod to cap voting rights, pare stake")
Chanda Kochhar's plea against sacking has no legal ground: ICICI Bank to HC
The bank is seeking recovery of amounts towards the clawback of bonuses given to her from April 2006 to March 2018 after her termination of services by the bank
 "Chanda Kochhar's plea against sacking has no legal ground: ICICI Bank to HC")
No reason to doubt govt will meet fiscal deficit targets: RBI Guv backs FM
In an interview with PTI, Das said the government has remained within the limits set by the Fiscal Responsibility and Budget Management (FRBM) Committee for the budget deficit
Moody's cuts India's 2020 growth forecast to 5.4% amid coronavirus fears
With the virus continuing to spread, it is still too early to make a final assessment of the impact on China (A1 stable) and the global economy.
 "Moody's cuts India's 2020 growth forecast to 5.4% amid coronavirus fears")
RBI's maiden long-term repo operation receives Rs 1.94-trillion bids
The allotment was done for all bids on a pro-rata basis
 "RBI's maiden long-term repo operation receives Rs 1.94-trillion bids")
Telecom AGR dues: RBI closely monitoring developments, says Governor Das
In an interview with PTI, Das said so far no red flags have been raised but the central bank continues to monitor the situation closely
 "Telecom AGR dues: RBI closely monitoring developments, says Governor Das")
Market Ahead, February 17: Top factors that could guide markets this week
According to report, telecom operators Bharti Airtel, Vodafone Idea and Tata Teleservices are likely to make payment for the adjusted gross revenue dues today
 "Market Ahead, February 17: Top factors that could guide markets this week")
RBI to sync its accounting year with govt's fiscal year from 2020-21
With this move, the central bank will do away with nearly eight decades of practice
 "RBI to sync its accounting year with govt's fiscal year from 2020-21")
RBI board recommends aligning accounting year with fiscal year from 2020-21
The Central Board of Directors of the RBI at its 582nd meeting reviewed the current economic situation, global and domestic challenges and various areas of operations of the RBI
RBI Governor expects transmission of rate cuts to improve further
Earlier this month, the central bank opted for a status quo on the benchmark interest rate, amid signs of hardening inflation and an uncertain global environment
 "RBI Governor expects transmission of rate cuts to improve further")
A remittance tax
Compliance burden should not be increased
 "A remittance tax")
Long-term repo operations will be conducted on fixed-rate basis: RBI
The monetary authority also clarified that the interest on these repos will be compounded on an annual basis and will be conducted at the prevailing repo rate
 "Long-term repo operations will be conducted on fixed-rate basis: RBI")
RBI's new asset recognition norms credit negative for banks: Moody's
Last week, the RBI harmonised guidelines for deferment of date of commencement of commercial operations (DCCO) for projects in non-infrastructure and commercial real estate (CRE) sectors
 "RBI's new asset recognition norms credit negative for banks: Moody's")
Retail inflation spikes to 7.59% in January; December IIP at -0.3%
Retail inflation rose sharply to 7.35 per cent in December 2019.
 "Retail inflation spikes to 7.59% in January; December IIP at -0.3%")
Budget proposal on remittances abroad triggers fears of double taxation
5% to be paid on already taxed income
 "Budget proposal on remittances abroad triggers fears of double taxation")
Easier RBI asset quality norms puts banks at risk, mar transparency: Fitch
The new rules signal a shift away from enhancing asset classification
Lending from Cash Reserve Ratio buffer to get 5-year exemption: RBI
This means that banks will not be needed to make additional cash reserve ratio against any incremental loans disbursed to the targeted segments
 "Lending from Cash Reserve Ratio buffer to get 5-year exemption: RBI")