Page 8 - Latest Updates on Reserve Bank of India
Gunveer Singh elevated as RBI Executive Director with effect from May 18
The Reserve Bank of India has elevated Gunveer Singh as Executive Director to oversee the Department of Payment and Settlement Systems
 "Gunveer Singh elevated as RBI Executive Director with effect from May 18")
Gunveer Singh appointed RBI Executive Director with immediate effect
Prior to this, Singh was serving as Chief General Manager-in-Charge of Department of Payment and Settlement Systems of the central bank
Don't think India wants to move towards stringent capital controls: Kotecha
India is in a far healthier position from an economic perspective than it was during the taper tantrum period
 "Don't think India wants to move towards stringent capital controls: Kotecha")
Fintechs set to take fresh guard as reality comes to bite the sector
With funding tightening and regulators increasing scrutiny on risk, firms must move past the growth-at-all-costs model to survive
 "Fintechs set to take fresh guard as reality comes to bite the sector")
RBI relief to NBFCs likely to spur participation in equity markets
New norms, effective from July, exempt smaller NBFCs from registration need
 "RBI relief to NBFCs likely to spur participation in equity markets")
RBI raises trading targets for dealers to improve bond market liquidity
The move underscores the RBI's push to deepen liquidity in sovereign debt, a priority that Governor Sanjay Malhotra highlighted this month
 "RBI raises trading targets for dealers to improve bond market liquidity")
Reserve Bank of India cancels registration of 7 NBFCs, including 2 CICs
Central bank revokes certificates of registration after business exits, merger-related changes and CIC classification adjustments
 "Reserve Bank of India cancels registration of 7 NBFCs, including 2 CICs")
War turmoil drains Asian reserves with India, Philippines among hardest hit
Philippines has led losses with its stockpile sinking 8.1 per cent since the conflict started to $104 billion, while India's dropped 5.2 per cent to $691 billion
 "War turmoil drains Asian reserves with India, Philippines among hardest hit")
RBI may pay highest-ever dividend to help Centre tackle West Asia crisis
Last year the RBI made a record dividend payout of ₹2.69 lakh crore to the central government for 2024-25, 27 per cent higher than ₹2.11 lakh crore transferred in the previous year
MPC to look through West Asia shock if it's transitory: RBI Governor
Coordination with fiscal policy becomes critical amid 'supply shock as bad as it is', says Malhotra
 "MPC to look through West Asia shock if it's transitory: RBI Governor")
Rupee weakens to record closing low, approaches 96 against the dollar
Persistent importer demand, elevated crude oil prices and West Asia tensions pushed the rupee to a record closing low despite RBI intervention
 "Rupee weakens to record closing low, approaches 96 against the dollar")
RBI eases rules for outward remittances; drops prior approval for non-banks
The central bank has issued an operating framework for facilitating outward remittance services by non-bank entities through Authorised Dealer (Category I) banks in India
 "RBI eases rules for outward remittances; drops prior approval for non-banks")
Gold curbs to IMF loans: How India protected its forex reserves in past
PM Modi's austerity appeal recalls how India used gold curbs, NRI deposits, bonds, and IMF loans to protect forex reserves in past crises
 "Gold curbs to IMF loans: How India protected its forex reserves in past")
Govt mulling emergency measures to protect foreign-exchange reserves
Officials in the Prime Minister's Office and Finance Ministry have held discussions with the Reserve Bank of India on several measures that could be taken to limit the damage from soaring oil prices
 "Govt mulling emergency measures to protect foreign-exchange reserves")
RBI steps in to support rupee as Iran war, PM Modi's remarks spook traders
The renewed pressure on Indian markets came after US President Donald Trump on Sunday rejected Iran's response to a US proposal for peace talks to end the war
RBI should dial back rupee intervention, says former Guv Subbarao
Subbarao said raising interest rates, the "ultimate" exchange rate defence, should be the last resort, as the markets could read it as a sign the conflict poses a bigger threat to India's economy
 "RBI should dial back rupee intervention, says former Guv Subbarao")
RBI employee protest over new promotion policy to continue this week
The RBI Officers' Association has opposed the central bank's new promotion policy, citing delayed career progression, stagnation and lack of manpower planning
India's forex kitty drops by $7.79 billion to $690.693 billion: RBI
India's forex reserves dropped by USD 7.794 billion to USD 690.693 billion during the week ended May 1, the RBI said on Friday.
 "India's forex kitty drops by $7.79 billion to $690.693 billion: RBI")
Rupee settles lower at 94.48 against US dollar in choppy trade
The rupee settled weaker against the US dollar amid renewed tensions in West Asia, while RBI intervention helped curb further losses in the domestic currency
 "Rupee settles lower at 94.48 against US dollar in choppy trade")
ATM cassette-swap rollout delayed again as banks go big on cash recyclers
Banks are deploying more cash recycling machines that allow deposits and withdrawals, reducing reliance on standalone ATMs and slowing the transition to cassette-swap cash loading systems
 "ATM cassette-swap rollout delayed again as banks go big on cash recyclers")