Page 44 - Latest Updates on Reserve Bank of India
Credit card spending rises by 10.8% to Rs 1.84 trn in Jan 2025: RBI data
Per card spending in the industry stood at Rs 16,910, up 1.09 per cent from the same period last year
 "Credit card spending rises by 10.8% to Rs 1.84 trn in Jan 2025: RBI data")
RBI raises UCBs' small-value loans per borrower cap to Rs 3 crore
According to RBI norms, UCBs are required to have at least 50 per cent of their aggregate loans and advances consisting of small value loans by March 31, 2026
 "RBI raises UCBs' small-value loans per borrower cap to Rs 3 crore")
A year on, Paytm Payments Bank nudges users to reactivate wallets
The reactivation effort comes at a time when the payments bank has lost 72.25 per cent of its prepaid payment instrument (PPI) wallets from 363.15 million
 "A year on, Paytm Payments Bank nudges users to reactivate wallets")
Former RBI Guv Shaktikanta Das appointed Principal Secretary-2 to the PM
Former RBI Governor Shaktikanta Das has been appointed as Principal Secretary-2 to Prime Minister Narendra Modi. His tenure will be co-terminus with the prime minister's term or until further orders
 "Former RBI Guv Shaktikanta Das appointed Principal Secretary-2 to the PM")
Reserve Bank of India for foreclosure of biz loans to MSEs, individuals
The RBI has invited comments and feedback from stakeholders and the public on the draft circular by March 21
 "Reserve Bank of India for foreclosure of biz loans to MSEs, individuals")
RBI likely to hold fresh talks on project financing in three months
Last year in May 2024, RBI released a draft direction outlining the prudential framework for project loan financing
 "RBI likely to hold fresh talks on project financing in three months")
Tata Capital board to meet next week to decide on rights issue plans
The board's meeting, to discuss the size and timing of the rights issue, came shortly after the company sought shareholders' approval in January
 "Tata Capital board to meet next week to decide on rights issue plans")
RBI to conduct $10 billion buy/sell swap to infuse durable liquidity
The RBI has injected over Rs. 3.6 trillion of durable liquidity into the banking system so far through a combination of OMO purchases, FX swaps, and longer-duration variable rate repo auctions
 "RBI to conduct $10 billion buy/sell swap to infuse durable liquidity")
Reserve Bank of India issues norms for forward contracts in G-secs
Aims to assist long-term investors in managing cash flows
 "Reserve Bank of India issues norms for forward contracts in G-secs")
RBI warns of excessive unsecured loans, euphoria over derivative products
RBI deputy governor M Rajeshwar Rao emphasises on meaning engagement beyond account opening
 "RBI warns of excessive unsecured loans, euphoria over derivative products")
Govt should bear higher premium for increased deposit insurance: AIRBEA
Currently, with coverage being for Rs 5 lakh, 97.8 per cent of the total number of deposit amounts are fully protected. However, in terms of value only 43.1 per cent of the deposits are insured
 "Govt should bear higher premium for increased deposit insurance: AIRBEA")
Raise deposit insurance cover to Rs 10L: All India Reserve Bank staff body
AIRBEA has cautioned that raising the deposit insurance cover would increase the premium burden on banks, which may not be fair for well-regulated commercial banks with low failure rates
 "Raise deposit insurance cover to Rs 10L: All India Reserve Bank staff body")
Bank holidays 2025: Why will banks be closed on 20 Feb in these states?
On Thursday, February 20, 2025, all banks in these two Northeast states will be closed. Customers will be wondering why has the RBI granted banks a holiday?
 "Bank holidays 2025: Why will banks be closed on 20 Feb in these states?")
Flows in NRI deposits up 43% to $13.33 bn in April-December 2024: RBI
The total outstanding NRI deposits as of the end of December 2024 stood at $161.8 billion, the latest data released by RBI showed
 "Flows in NRI deposits up 43% to $13.33 bn in April-December 2024: RBI")
Net short position of RBI's forward book swells to $67.9 billion
REER moderates to 104.82 in January
 "Net short position of RBI's forward book swells to $67.9 billion")
Net FDI in India declines to $1.2 billion Apr-Dec 2024, says RBI data
Gross inward FDI during April-November 2024 increased by 20.6 per cent year-on-year (Y-o-Y) to $62.5 billion from $51.8 billion a year ago
 "Net FDI in India declines to $1.2 billion Apr-Dec 2024, says RBI data")
Union Budget balances fiscal and growth objectives, says RBI report
According to the report, the budget reaffirms the government's commitment to fiscal discipline while fostering inclusive, long-term economic growth in line with the vision of Viksit Bharat
 "Union Budget balances fiscal and growth objectives, says RBI report")
PNB reports Rs 270.57 cr loan fraud by Gupta Power Infrastructure
Borrowal fraud of Rs 270.57 crore has been reported to the Reserve Bank of India (RBI) in non-performing asset (NPA) account of Gupta Power Infrastructure Ltd
 "PNB reports Rs 270.57 cr loan fraud by Gupta Power Infrastructure")
RBI launches 'RBIDATA' app to offer access to economic, financial data
The mobile app offers macroeconomic and financial statistics relating to the Indian economy in a user-friendly and visually engaging format
 "RBI launches 'RBIDATA' app to offer access to economic, financial data")
Deposit insurance cover may increase from Rs 5 lakh: DFS secy Nagaraju
Currently, deposits of up to ₹5 lakh are covered under the deposit-insurance scheme of Deposit Insurance and Credit Guarantee Corporation
 "Deposit insurance cover may increase from Rs 5 lakh: DFS secy Nagaraju")