Page 64 - Latest Updates on Reserve Bank of India
RBI's new MPC members may have at least 1 favouring a rate cut: Economists
India's government on Tuesday appointed Ram Singh, Saugata Bhattacharya and Nagesh Kumar as new external members
 "RBI's new MPC members may have at least 1 favouring a rate cut: Economists")
New external members of RBI's MPC likely to keep markets guessing
Oct meeting being held amid a flurry of activities by leading central banks
 "New external members of RBI's MPC likely to keep markets guessing")
Rupee remains overvalued against trading partners despite new lows
Market participants said that REER might moderate further in the current calendar year (CY24) and financial year (FY25) on the back of inflows
 "Rupee remains overvalued against trading partners despite new lows")
Fed drives global push to cut rates despite uncertainties over 2025
Whatever happens, a sustained period of central bank activism, in contrast to the recent hiatus of higher-for-longer rates, is likely to take hold
 "Fed drives global push to cut rates despite uncertainties over 2025")
India's current account deficit widens to 1.1% of GDP in April-June 2024
The current account deficit stood at $9.7 billion, or 1.1 per cent of the GDP, in the fiscal first quarter, compared with a deficit of $8.9 billion or 1 per cent of GDP in the same quarter a year ago
 "India's current account deficit widens to 1.1% of GDP in April-June 2024")
SFBs should be vigilant, proactive to mitigate risks: RBI deputy guv
Swaminathan highlighted the role of governance in guiding SFBs towards sustainable growth with stability. He also emphasised the importance of sustainable business models
 "SFBs should be vigilant, proactive to mitigate risks: RBI deputy guv")
RBI to keep repo rate at 6.50% in October, cut by 25bps in December: Poll
Inflation held below the RBI's medium-term target of 4.0 for a second month in August
 "RBI to keep repo rate at 6.50% in October, cut by 25bps in December: Poll")
Regulatory scrutiny may dampen credit cards' festive season spirit
Pressure on unsecured lending may weigh on growth in spending through credit card
 "Regulatory scrutiny may dampen credit cards' festive season spirit")
Policy evolution: Despite challenges, central banks must keep adapting
Most large central banks have been grappling with high inflation rates over the past couple of years after having misjudged the early warning signs
 "Policy evolution: Despite challenges, central banks must keep adapting")
Buy-and-hold investors, avoid high secondary mkt premiums on SGBs
A key reason for the current delay is that SGBs have become an expensive borrowing route for the government
 "Buy-and-hold investors, avoid high secondary mkt premiums on SGBs")
Private banks' employee strength grows 2.8 times in over a decade
During this period, the number of state-owned banks has decreased to 12 due to mergers, while the total number of private sector banks stands at 21
 "Private banks' employee strength grows 2.8 times in over a decade")
Strong fundamentals crucial amid global unrest: RBI Guv Shaktikanta Das
Have larger responsibility of maintaining financial stability'
 "Strong fundamentals crucial amid global unrest: RBI Guv Shaktikanta Das")
Piyush Goyal promises to take up financing issues of realtors with RBI
Addressing a conference organised by realtors' apex body CREDAI, Goyal highlighted that the new realty law RERA has brought transparency and certainty in the real estate sector
 "Piyush Goyal promises to take up financing issues of realtors with RBI")
S&P retains India's growth forecast at 6.8%; expects rate cut in October
S&P maintained India's growth forecast at 6.8% and said that it expected the RBI to cut rates in October. The US Fed rate cuts last week have sparked speculation about a potential spillover effect
 "S&P retains India's growth forecast at 6.8%; expects rate cut in October")
New-look RBI's MPC set to take rate call amid cuts by global banks
RBI's MPC has six members - three are from within RBI: Governor, deputy governor in charge of monetary policy, and one more officer from RBI who is nominated by the central board of RBI
Punjab Sind Bank to raise upto Rs 3K cr via Infra bonds, appoint bankers
Set to appoint merchant bankers for proposed QIP
 "Punjab Sind Bank to raise upto Rs 3K cr via Infra bonds, appoint bankers")
CARE Ratings downgrades IIFL Finance's long-term instruments to "AA-"
The rating agency, in a statement placed on its website, said the assets under management (AUM) of IFL's gold business shrunk to Rs 14,727 crore as of June 30, 2024
 "CARE Ratings downgrades IIFL Finance's long-term instruments to \"AA-\"")
RBI net buys $6.93 billion in July; forex reserve reaches new high
India's foreign exchange reserves expanded by $67 billion so far in 2024, the second highest among major foreign exchange reserves holding countries, after China
 "RBI net buys $6.93 billion in July; forex reserve reaches new high")
September set to be busiest month for IPOs in 14 years: RBI Bulletin
Citing a study by market regulator Sebi, the article further said 54 per cent of IPO shares allotted to investors were sold within a week of listing
 "September set to be busiest month for IPOs in 14 years: RBI Bulletin")
RBI bought net $6.93 billion in spot forex market in July: Bulletin data
RBI's net outstanding forward sales stood at $9.1 billion as of end-July, compared with a net sales of $15.84 billion at the end of the previous month, the data showed
 "RBI bought net $6.93 billion in spot forex market in July: Bulletin data")