Page 60 - Latest Updates on Reserve Bank of India
RBI clears National, Cosmos Co-operative Bank merger, effective January 6
The branches of The National Co-operative Bank, Bangalore (Karnataka), will function as branches of Cosmos Co-operative Bank Limited (Maharashtra) with effect from January 6, 2025
 "RBI clears National, Cosmos Co-operative Bank merger, effective January 6")
BharatPe parent to sell up to 25% stake in Unity SFB for $800 million
The move is in line with regulatory requirements to reduce its holding in the bank to 10 per cent by 2029, irrespective of the listing of Unity SFB, said sources
 "BharatPe parent to sell up to 25% stake in Unity SFB for $800 million")
Jefferies sees rate cuts in India in 2025; ups HDFC, ICICI Bk target price
Bank stocks today: Jefferies has retained its 'Buy' ratings on Axis Bank, ICICI Bank, HDFC Bank, and SBI, It has upgraded Kotak Bank and downgraded Bank of Baroda
 "Jefferies sees rate cuts in India in 2025; ups HDFC, ICICI Bk target price")
A flexible approach: Orderly rupee depreciation should be allowed
The rupee has a lot of catching up to do because its slide has been postponed when compared to its peer currencies and competitors
 "A flexible approach: Orderly rupee depreciation should be allowed")
Bank holidays in January 2025: Check state-wise bank holiday complete list
January Bank Holidays 2025: Banks will remain shut for 13 days in January, including certain festivals, important celebrations and national holidays. Check the complete holiday list
 "Bank holidays in January 2025: Check state-wise bank holiday complete list")
Banks urge RBI to inject liquidity via foreign-exchange swaps amid crunch
The higher financing costs are posing a challenge for the RBI to support an economy that's witnessing a slowdown in manufacturing activities
 "Banks urge RBI to inject liquidity via foreign-exchange swaps amid crunch")
VFS Capital seeks small finance bank licence from RBI under 'on-tap' scheme
VFS provides loans to individual female members mainly from rural areas in a joint liability group (JLG) with each group consisting of five members
Credit growth to NBFCs declines to 7.8% in November, shows RBI data
Retail credit growth also declined to 16.3% due to drop in personal and vehicle loans, and rise in credit card outstanding
 "Credit growth to NBFCs declines to 7.8% in November, shows RBI data")
CBIC clarifies rules, says no GST to apply on pre-paid gift vouchers, cards
The CBIC underlined that, regardless of the type of voucher, transactions involving vouchers themselves will not be construed as the supply of goods or services
 "CBIC clarifies rules, says no GST to apply on pre-paid gift vouchers, cards")
RBI Guv Malhotra asks staff to emphasise customer centricity in NY message
The central bank is facing challenges on the currency front, which has been under pressure in the last few months
 "RBI Guv Malhotra asks staff to emphasise customer centricity in NY message")
Will banks remain closed on January 1, 2025 New Year? All you need to know
Is Bank Holiday 1st Jan 2025: Banks across the country are expected to remain closed on January 1 due to the New Year celebration. However, online banking services will remain active
 "Will banks remain closed on January 1, 2025 New Year? All you need to know")
Indian banks' gross bad loan ratio may edge up by March 2026: RBI report
The bad loan ratio could rise to 5 per cent and 5.3 per cent under two separate high-risk scenarios
 "Indian banks' gross bad loan ratio may edge up by March 2026: RBI report")
Cloud, AI-ML top emerging techs adopted by Indian banks, reveals RBI survey
The survey, conducted in November 2024, included responses from 12 state-owned banks and 19 private sector banks to assess the adoption of emerging technologies
 "Cloud, AI-ML top emerging techs adopted by Indian banks, reveals RBI survey")
Crypto assets can negatively impact financial stability, says RBI report
The banking regulator emphasised the potential consequences of the widespread adoption of crypto-assets and stablecoins on an economy
Stress in microfinance sector doubles in April to September period: RBI
Earlier, the RBI had warned that some NBFCs, including MFIs, were adopting a "growth-at-any-cost" approach and cautioned that regulatory action would be taken if necessary
 "Stress in microfinance sector doubles in April to September period: RBI")
RBI flags risk to secured loans from slippages in smaller personal loans
The RBI noted that first defaults are predominantly observed in unsecured advances
RBI proposes lookup facility for NEFT, RTGS; banks to comply by April 1
This facility will allow users to view and verify the name of the beneficiary before initiating a transaction, similar to the existing feature on India's real-time payment systems
Rupee volatility hits year-high, spotlight on RBI's currency strategy
The rupee's one-month implied volatility versus the greenback rose to as much as 4.09 per cent, the highest since August 2023
 "Rupee volatility hits year-high, spotlight on RBI's currency strategy")
RBI should rethink forex strategy, loosen hold on rupee in 2025: Economists
The rupee's overvaluation relative to its trading partners makes India's exports more expensive. This is the most overvalued the rupee has been since 2004, RBI data showed
 "RBI should rethink forex strategy, loosen hold on rupee in 2025: Economists")
Rate cut, regulatory move to be in focus under Guv Malhotra-led RBI
There are at least four important regulations awaiting the commercial banks that could impact their growth and profitability