Page 318 - Latest Updates on Reserve Bank of India
How UTI crisis unfolded: Former Sebi chairman UK Sinha revists the drama
The decision to stop the encashment of US-64 unit was a step that shocked investors and the entire capital market. Former SEBI chairman U K Sinha revisits the drama in his new book
 "How UTI crisis unfolded: Former Sebi chairman UK Sinha revists the drama")
Indian Overseas Bank gets Rs 4,360 cr from Centre for meeting norms
In a regulatory filing to the stock exchanges, the bank said it has received the amount as contribution of the government in preferential allotment of equity shares during FY20 as govt's investment
 "Indian Overseas Bank gets Rs 4,360 cr from Centre for meeting norms")
DSP's gamble to go long on bonds pays off after RBI's Operation Twist
DSP Investment Managers, which manages about Rs 77,600 crore ($10.8 billion), had been betting since August that longer yields would decline
 "DSP's gamble to go long on bonds pays off after RBI's Operation Twist")
Liquidity surplus in banks races past Rs 4 trn. Will it lead to inflation?
The last such liquidity scene was witnessed just after demonetisation in end of 2016 and early 2017 when banks were parking their deposit-linked money with the central bank
 "Liquidity surplus in banks races past Rs 4 trn. Will it lead to inflation?")
Forex reserves at record high of $457 bn on gain in foreign currency assets
During the week, gold reserves increased by $260 million to $27.392 billion
 "Forex reserves at record high of $457 bn on gain in foreign currency assets")
Existing home loan borrowers must move to external benchmark loans
Yes, there will be some cost, but it will be limited to administrative and legal expenses
 "Existing home loan borrowers must move to external benchmark loans")
RBI to conduct OMO to buy, sell govt bonds of Rs 10,000 cr each on Jan 6
RBI said it reserves the right to decide on the quantum of purchase/sale of individual securities; accept bids/offers for less than the aggregate amount
 "RBI to conduct OMO to buy, sell govt bonds of Rs 10,000 cr each on Jan 6")
Bank credit grows 7.1% to Rs 99.47 trn; deposits rise 10% to Rs 130 trn
In the year-ago fortnight, banks' advances stood at Rs 92.87 trillion, while deposits were at Rs 118.16 trillion
 "Bank credit grows 7.1% to Rs 99.47 trn; deposits rise 10% to Rs 130 trn")
India's start-up culture concentrated in a few states: RBI survey
The annual turnover for over one-fourth of the respondents was up to Rs 10 lakh, whereas around 20 per cent start-ups did not report any revenue generation
 "India's start-up culture concentrated in a few states: RBI survey")
RBI comes up with mobile app to help visually impaired identify notes
The free app doesn't need Internet connection and can identify Mahatma Gandhi series of notes, both old and new, included in half folded conditions
 "RBI comes up with mobile app to help visually impaired identify notes")
Pace of non-food credit offtake slows further in Nov with 7.2% growth YoY
Credit to agriculture and allied activities slowed down to 6.5 per cent in November 2019 from 7.7 per cent in November 2018, the RBI said
 "Pace of non-food credit offtake slows further in Nov with 7.2% growth YoY")
RBI says UCBs with deposits of over Rs 100 cr should be run professionally
These UCBs must obtain prior approval of the RBI for appointing the CEO
Govt retains interest rates on small savings; depositors may cheer decision
A cheer for depositors, the move is contrary to what RBI and banks had advised
 "Govt retains interest rates on small savings; depositors may cheer decision")
IMF raises questions over methodology to calculate GDP growth in India
IMF also said there were weaknesses in the deflation method used to derive value added. Deflators are used to convert GDP at current prices to constant prices
 "IMF raises questions over methodology to calculate GDP growth in India")
IMF cautions India against fiscal stimulus, says govt should go for reforms
The Budget projected the Centre's fiscal deficit to come down to 3.3 per cent of the country's gross domestic product (GDP) in 2019-20 against 3.4 per cent a year ago
 "IMF cautions India against fiscal stimulus, says govt should go for reforms")
Banks' non-food credit growth slows 7.2% to Rs 86.73 trn in Nov: RBI
Credit growth to industry fell to 2.4 per cent to Rs 27.72 trillion in November 2019 from 4 per cent in the corresponding month of 2018.
LIVE: Rs 102-trn infra projects lined up for 5 yrs, says FM Sitharaman
In last six years, 5-6% of GDP spent on infrastructure, says FM Sitharaman
 "LIVE: Rs 102-trn infra projects lined up for 5 yrs, says FM Sitharaman")
Year in review: History behind, Das-led RBI charts new trails in 2019
Under his governorship, Das silenced the ever-hungry market and North Block mandarins with 135 basis points reduction in interest rates through five successive rate cuts
 "Year in review: History behind, Das-led RBI charts new trails in 2019")
RBI allows use of UPI and other non-bank payment methods to link FASTags
Move to boost NETC, foster competition among system participants; turnaround time for resolving failed transactions will be applicable to the transactions carried out in the NETC system
 "RBI allows use of UPI and other non-bank payment methods to link FASTags")
10-year bond yields rise on RBI's special open market operations
Interestingly, instead of the 10-year bond yields coming down, it increased about 5 basis points to close at 6.55% after the OMO