Page 69 - Latest Updates on Reserve Bank of India
SBI Fund sees Union Budget 2024 arming Reserve Bank with liquidity tool
MSS bonds are issued by the government outside the normal borrowing program to enable the Reserve Bank of India soak up liquidity
 "SBI Fund sees Union Budget 2024 arming Reserve Bank with liquidity tool")
Optimal policy position
MPC should focus on inflation management
 "Optimal policy position")
No plans to allow business houses to promote banks: RBI Governor Das
The RBI had disqualified a long list of conglomerates from floating a lender in the last round of licensing around a decade ago
 "No plans to allow business houses to promote banks: RBI Governor Das")
With growth steady, policy must focus on inflation: RBI Governor Das
In the last three years, the average growth of India has been 8.3 per cent, he said
 "With growth steady, policy must focus on inflation: RBI Governor Das")
Revival in rural spending pushing demand conditions: RBI bulletin
India's natural rate of interest now at 1.4%-1.9%, says RBI bulletin
Union Budget 2024 to signal next steps for IDBI Bank privatisation
IDBI Bank's market capitalisation is around Rs 95,000 crore. The government could secure close to Rs 29,000 crore for the sale of 30.5% of its 45.5% stake
 "Union Budget 2024 to signal next steps for IDBI Bank privatisation")
Rupee depreciates 4 paise to 83.55 against US dollar in early trade
On Friday, the rupee settled at 83.51 against the US dollar
 "Rupee depreciates 4 paise to 83.55 against US dollar in early trade")
Commercial banks in India step up their control to check 'mule' fraud
0.5-1% of new accounts opened by mules
 "Commercial banks in India step up their control to check 'mule' fraud")
India Inc files ECB intent worth $4.28 billion in May, shows RBI data
Out of this, the intent for fund raise through the automatic route amounted to $ 3.66 billion and that via approval route was $ 343.2 million, according to RBI data
 "India Inc files ECB intent worth $4.28 billion in May, shows RBI data")
India's credit ratings upgrade is long overdue: RBI Guv Shaktikanta Das
Governor of the Reserve Bank of India Shaktikanta Das said that India is capable of meeting its external payment obligations and a credit ratings upgrade should happen soon
Hopes in the balance: How much can the Budget do for the rural sector?
The government will have to tweak the demand for Mahatma Gandhi National Rural Employment Guarantee Act and may retain the demand for PM Kisan to not allow fiscal slippage
 "Hopes in the balance: How much can the Budget do for the rural sector?")
India generated 125 million jobs between FY14 & FY23, says SBI Report
Besides, the report also noted that the total employment reported by micro, small and medium enterprises (MSMEs) registered with the MSME Ministry has crossed 200 million
 "India generated 125 million jobs between FY14 & FY23, says SBI Report")
YES Bank denies report on 51% stake sale, calls it 'factually incorrect'
The bank called the news report "factually incorrect and purely speculative" in nature
 "YES Bank denies report on 51% stake sale, calls it 'factually incorrect'")
MobiKwik wallet numbers rise as banking players go through downturn
Among the non-bank players, MobiKwik had about 134.1 million wallets in January, which rose 2 per cent to 136.8 million in May, ranking the company second in terms of wallet numbers
 "MobiKwik wallet numbers rise as banking players go through downturn")
RBI cancels registration for 2 NBFCs, cites irregular lending practices
Following the cancellation of registration certificates, the two entities "shall not transact" the business of a non-banking financial institution (NBFI), the RBI added
 "RBI cancels registration for 2 NBFCs, cites irregular lending practices")
India's employment provisionally grew at 6% in FY24, shows RBI data
The release of the data follows a Citibank report last week which said growth of close to 7 per cent will only create 8 million to 9 million jobs in India, short of the 11 million to 12 million needed
 "India's employment provisionally grew at 6% in FY24, shows RBI data")
RBI's draft trade norms envisage more discretion for ADs
ADs will handle the documents of a 'caution listed' exporter only against full advance payment from the buyer or irrevocable letter of credit
 "RBI's draft trade norms envisage more discretion for ADs")
Airtel PB records 49% dip in wallet numbers despite Paytm PB's downturn
The company however has registered a steady increase in transaction volumes
 "Airtel PB records 49% dip in wallet numbers despite Paytm PB's downturn")
RBI imposes penalty on YES Bank for not exchanging mutilated notes
RBI imposed a monetary penalty of Rs 10,000
 "RBI imposes penalty on YES Bank for not exchanging mutilated notes")
India's forex reserves decline $1.71 bn to $651.99 bn, shows RBI data
In the previous reporting week, the overall kitty had dropped USD 2.922 billion to USD 652.895 billion. The reserves had touched an all-time high of USD 655.817 billion as on June 7 this year
 "India's forex reserves decline $1.71 bn to $651.99 bn, shows RBI data")