Page 59 - Latest Updates on Reserve Bank of India
50 bps cut in interest rate likely by March 2025: Axis Mutual Fund
In an interview with Abhishek Kumar in Mumbai, Shah says this view may not hold true if commodity prices go up sharply
 "50 bps cut in interest rate likely by March 2025: Axis Mutual Fund")
RBI Summer Internship 2024: Registration starts at official website
RBI has started the Summer Internship 2024 registration process on Oct 15, 2024. Students can apply for internship programme, and the direct link is available on official website of RBI at rbi.org.in
 "RBI Summer Internship 2024: Registration starts at official website")
Heavy reliance on AI can lead to concentration risks, says RBI governor
Banks have to ride on the advantages of AI and Bigtech and not allow the latter to ride on them, says Das
 "Heavy reliance on AI can lead to concentration risks, says RBI governor")
Feasibility of expanding RTGS to settle transactions can be explored: Das
Divergence in global monetary policies can be expected to lead to volatility in capital flows and exchange rates, which may disrupt financial stability, says Das
 "Feasibility of expanding RTGS to settle transactions can be explored: Das")
RBI nudges fintechs to consider granting same-day loans to street hawkers
Loans are repaid within 24 hours and seek to bolster financial inclusion at the bottom of the pyramid
 "RBI nudges fintechs to consider granting same-day loans to street hawkers")
RBI's caution against inflation may halt rally in FMCG stocks: Analysts
FMCG companies: RBI Governor Shaktikanta Das pointed out that core inflation, which excludes food and fuel prices, was on an uptrend in July and August
 "RBI's caution against inflation may halt rally in FMCG stocks: Analysts")
Govt repurchases Rs 24,453 crore worth of bonds through buyback auction
The demand at the auction was better than in previous buyback auctions conducted by the RBI in the current financial year
 "Govt repurchases Rs 24,453 crore worth of bonds through buyback auction")
Give borrower info until loan cycle or shutdown: RBI to credit institutions
In these cases, the repayment history of these entities' borrowers is not updated, even if they continue to repay or clear their dues
 "Give borrower info until loan cycle or shutdown: RBI to credit institutions")
RBI asks banks to use info from all relevant sources for risk assessment
The RBI said that REs should use information obtained from all relevant internal and external sources for the IRA exercise
 "RBI asks banks to use info from all relevant sources for risk assessment")
Retail inflation in September likely overshot RBI's 4% target: Poll
Food items, especially vegetables and other perishables, which make up a significant share of overall household spending in the country, saw an uptick in prices
 "Retail inflation in September likely overshot RBI's 4% target: Poll")
Spending Boost: Soon, pay up to Rs 1,000 without entering PIN on UPI Lite
The daily transactions on UPI crossed 501 million in September, the highest ever since UPI turned operational
 "Spending Boost: Soon, pay up to Rs 1,000 without entering PIN on UPI Lite")
Growth at any cost approach of some NBFCs poses risks: RBI Governor
Governor Das warns of action for failure to do so; directs them to review compensation practices linked to targets
 "Growth at any cost approach of some NBFCs poses risks: RBI Governor")
Norms for new capital instruments for Urban Cooperative Banks on anvil
Shaktikanta Das stated that to provide more flexibility, avenues for UCBs to raise capital, a discussion paper on capital-raising avenues will be issued for feedback from stakeholders
 "Norms for new capital instruments for Urban Cooperative Banks on anvil")
RBI eases its hawkish stance, index addition to extend market bond rally
Indian bonds handed investors a gain of more than 8 per cent this year, thanks to about $16 billion of foreign inflows
 "RBI eases its hawkish stance, index addition to extend market bond rally")
RBI MPC changes stance to neutral; keeps repo rate unchanged at 6.5%
MPC to 'remain unambiguously focused' on a durable alignment of inflation with the target, while supporting growth
MFIN to review compliance of its members with norms on indebtedness
Stock-taking in November to include cap on number of lenders per borrower
 "MFIN to review compliance of its members with norms on indebtedness")
RBI moves closer to interest rate cut after global easing kicks off
Since last rate decision, official data showed economic growth moderated to 6.7 per cent in the April-June quarter, below the RBI's projection of 7.1 per cent, while signs show soft urban consumption
 "RBI moves closer to interest rate cut after global easing kicks off")
RBI draft proposals on aligning businesses may impact private banks
The list include HDFC Bank, Axis Bank, Kotak Mahindra Bank, and Federal Bank
RBI's Monetary Policy Committee meet: Date, time, members, and agenda
RBI began its fourth Monetary Policy Committee meeting for the ongoing financial year on Monday. Key announcement from the meet will be announced on Oct 9
 "RBI's Monetary Policy Committee meet: Date, time, members, and agenda")
RBI likely to keep rates steady as economic growth slows, global rates ease
High frequency indicators such as the manufacturing PMI slowed to an eight-month low in September, while services PMI eased to a 10-month trough, latest data showed