Page 51 - Latest Updates on Reserve Bank of India
RBI ramps up forward dollar sales to defend stumbling rupee, say traders
In the last two trading sessions, the Reserve Bank of India (RBI) conducted buy-sell swaps of an estimated size of $3 billion-4 billion
 "RBI ramps up forward dollar sales to defend stumbling rupee, say traders")
Municipal fiscal reforms crucial for addressing urban governance challenges
Decentralising local governance is crucial to empowering municipal bodies with greater administrative autonomy and financial independence
 "Municipal fiscal reforms crucial for addressing urban governance challenges")
RBI dials down use of NDFs to fight dollar, balance rupee stability
The Reserve Bank of India has recently let some short dollar positions in the overseas market expire without rolling into new contracts
Edelweiss Financial rises 3% as RBI lifts ban on two Edelweiss Group cos
The initial uptick in Edelweiss Financial Services share came after the RBI, with immediate effect, lifted the restrictions imposed on ECL Finance, and Edelweiss ARC
 "Edelweiss Financial rises 3% as RBI lifts ban on two Edelweiss Group cos")
Rupee weakens to new low of 84.93 as trade deficit hits record high
The local currency settled at Rs 84.90 per dollar as the Reserve Bank of India (RBI) intervened in the foreign exchange market via dollar sales
 "Rupee weakens to new low of 84.93 as trade deficit hits record high")
The new RBI should revert to old rupee policy to address challenges
In our earlier piece in these pages, we highlighted the unwelcome consequences of the exchange rate policy adopted under the outgoing Reserve Bank of India (RBI) regime
 "The new RBI should revert to old rupee policy to address challenges")
Bad loans in P2P more than doubles to Rs 1,163 cr in FY24: Report
RBI tightened its guidelines for P2P lending in Aug, flagging regulatory violations by some platforms
 "Bad loans in P2P more than doubles to Rs 1,163 cr in FY24: Report")
Strive for perfection in performing critical roles, RBI Guv to colleagues
Malhotra to follow an open door policy and remain accessible to everyone at RBI
 "Strive for perfection in performing critical roles, RBI Guv to colleagues")
Support realisation of 'Viksit Bharat' goal: RBI Guv asks colleagues
The career bureaucrat appointed to lead the central bank "reassured" staffers that the RBI, an "august institution", is his "family" now
 "Support realisation of 'Viksit Bharat' goal: RBI Guv asks colleagues")
RBL Bank re-appoints R Subramaniakumar as MD & CEO for a period of 3 years
R Subramaniakumar was initially appointed for a period of three years as MD and CEO of the bank in June 2022
 "RBL Bank re-appoints R Subramaniakumar as MD & CEO for a period of 3 years")
Domestic, global headwinds challenge RBI's forex intervention efforts
India's forex reserves are at a five-month low after the RBI sold $38 billion, per IDFC FIRST Bank's estimate, between October and the first week of December
RBI raises collateral-free agricultural loan limit to Rs 2L to aid farmers
Banks have been instructed to implement the guidelines swiftly and ensure widespread awareness about the new loan provisions
India's foreign exchange reserves decline to 5-month low of $654.8 billion
The RBI is expected to have sold net dollars worth $61.1 billion to protect the domestic currency
 "India's foreign exchange reserves decline to 5-month low of $654.8 billion")
Credit grows at 10.6% and deposits at 10.7% in November 29 fortnight
Data shows outstanding deposits in the fortnight ending November 29 stood at Rs 220.17 trillion, while outstanding credit stood at Rs 175.09 trillion
 "Credit grows at 10.6% and deposits at 10.7% in November 29 fortnight")
RBI's forex swaps, arbitrage spur inversion of rupee forward premiums curve
The implied yield on near-maturity forwards is now higher than on longer-term forwards for the first time this year
Punjab & Sind Bank plans to raise Rs 3,000 cr from infra bonds this month
Asked about the timing of fundraise, he said, it would be tentatively in the third week of this month. The base issue size is going to be Rs 500 crore, with a greenshoe option of Rs 2,500 crore
 "Punjab & Sind Bank plans to raise Rs 3,000 cr from infra bonds this month")
'Credit card delinquencies rise in June even as issuance growth drops'
According to CRIF Highmark report, highest delinquency was in credit cards with limits less than Rs 50,000
 "'Credit card delinquencies rise in June even as issuance growth drops'")
Stable govt, GDP growth to help India get FPIs: Barclays' Prez Dainton
India has a demographic advantage and substantial growth and a political system that is relatively calm and consistent, Stephen Dainton, President of Barclays Bank PLC said
 "Stable govt, GDP growth to help India get FPIs: Barclays' Prez Dainton")
Rate cut unlikely in Feb review or in FY26: Axis Bank's Neelkanth Mishra
A rate cut will not be possible for the next 13-14 months due to the inflation outlook, said Mishra, who is also a part-time member of the PM's Economic Advisory Council
 "Rate cut unlikely in Feb review or in FY26: Axis Bank's Neelkanth Mishra")
Stability, trust, and growth key: RBI Guv Sanjay Malhotra in first address
'We cannot be stuck. We have to be agile while maintaining policy continuity,' Sanjay Malhotra said in his first address as RBI governor
 "Stability, trust, and growth key: RBI Guv Sanjay Malhotra in first address")