Page 5 - Latest Updates on Reserve Bank of India
RBI intervention lifts rupee to strongest one-day gain in over a month
The Reserve Bank of India's intervention on Monday was fairly large, with the central bank beginning to sell dollars when the rupee traded near 96.15 per dollar
 "RBI intervention lifts rupee to strongest one-day gain in over a month")
Weekly policy watch: Industrial output, RBI bond buyback in spotlight
India's policy calendar this week will track industrial growth, debt management and forex reserves
 "Weekly policy watch: Industrial output, RBI bond buyback in spotlight")
Indian banks have raised $32 billion under dollar-inflow schemes: RBI Guv
Most of the $32 billion raised so far has come from the foreign currency non-resident deposit scheme, Malhotra said
 "Indian banks have raised $32 billion under dollar-inflow schemes: RBI Guv")
1991 reforms trusted mkts; now RBI should trust exporters and importers
The government responded to a grave foreign exchange crisis by progressively liberalising, rather than perpetuating restrictions on access to foreign exchange and imports
 "1991 reforms trusted mkts; now RBI should trust exporters and importers")
HSBC leads in FCNR (B) deposit mobilisation with over $5 billion
HSBC has mobilised over $5 billion in FCNR(B) deposits under the RBI's swap scheme, leveraging its global network and expanding NRI banking presence in India
 "HSBC leads in FCNR (B) deposit mobilisation with over $5 billion")
Offline payment push: Innovation must include stronger consumer protection
NPCI's offline NFC-based UPI can expand digital payments and financial inclusion, but robust security, fraud safeguards and strong consumer protection must underpin its rollout
 "Offline payment push: Innovation must include stronger consumer protection")
IMF urges stronger AI safeguards as India deepens financial sector adoption
The multilateral institution warned that rapid AI adoption could amplify systemic and cyber risks, urging stronger oversight, governance and international cooperation
 "IMF urges stronger AI safeguards as India deepens financial sector adoption")
RBI sees resilient economy despite West Asia conflict, monsoon concerns
Reserve Bank of India said the economy remains resilient, supported by healthy demand and strong industrial and services activity, while warning that the Iran war and a deficient monsoon pose risks
 "RBI sees resilient economy despite West Asia conflict, monsoon concerns")
RBI likely used dollar deposit surge to cut record FX forward book
The RBI's package of measures aimed at supporting the rupee attracted more than $20 bn as of July 17, with more than four-fifths coming from foreign currency non-resident deposits mobilised by banks
 "RBI likely used dollar deposit surge to cut record FX forward book")
RBI proposes easier FDI compliance regime, seeks public comments
Regulator proposes greater operational flexibility
 "RBI proposes easier FDI compliance regime, seeks public comments")
Strong early response to swap window fuels $70 billion inflows hope
Foreign banks appear to have driven the early success of the RBI's swap scheme, say experts
 "Strong early response to swap window fuels $70 billion inflows hope")
Robust forex inflows lift rupee as lower crude prices boost sentiment
The rupee recovered from a five-session decline as easing crude oil prices and stronger-than-expected foreign exchange inflows under RBI measures supported sentiment
 "Robust forex inflows lift rupee as lower crude prices boost sentiment")
Forex strategy must go beyond short-term flows and import substitution
The basic idea behind the liberalised FCNR (B) scheme and other such measures is to attract foreign-currency flows, which will help RBI build foreign-exchange buffers at a time of global uncertainty
 "Forex strategy must go beyond short-term flows and import substitution")
Why a weaker rupee is not necessarily a sign of economic weakness
A stable economy does not require a permanently stable exchange rate
 "Why a weaker rupee is not necessarily a sign of economic weakness")
RBI's inflow push gets strong start, fortifying India's balance of payments
In its first update since the scheme was launched in early June, the Reserve Bank of India said the measures had mobilised $20.72 billion through July 17
 "RBI's inflow push gets strong start, fortifying India's balance of payments")
India FX traders eye oil prices, RBI defence; bonds bulls await index call
The rupee closed at 96.28 per dollar on Friday, down about 1% on the week, its steepest drop since May, the month in which the currency hit its all time-low of 96.96
 "India FX traders eye oil prices, RBI defence; bonds bulls await index call")
Banks pare FCNR (B) inflow expectations amid leverage and tax hurdles
Banks expect strong NRI interest in RBI's FCNR(B) scheme but say leverage limits, overseas regulations and tax issues could curb fund mobilisation
 "Banks pare FCNR (B) inflow expectations amid leverage and tax hurdles")
RBI's currency printing arm invites bids for polymer note material
The move marks India's first formal procurement step towards polymer banknotes, though the Reserve Bank of India has not announced denominations or a timeline for their introduction
 "RBI's currency printing arm invites bids for polymer note material")
Will continue to prioritise inflation, says RBI governor Sanjay Malhotra
"We have to watch out for monsoon… how it progress because a significant population depends on agriculture," he said
 "Will continue to prioritise inflation, says RBI governor Sanjay Malhotra")
RBI imposes penalties on Muthoot Finance, others for compliance violations
The central bank imposed penalties ranging from Rs 2.7 lakh to Rs 6.2 lakh on six companies, including Muthoot Finance, for violating regulatory norms
 "RBI imposes penalties on Muthoot Finance, others for compliance violations")