Page 85 - Latest Updates on Reserve Bank of India
'Climate shocks' add uncertainty to inflation outlook: RBI annual report
Central bank highlights trading risks and, high reliance on bulk deposits of banks
 "'Climate shocks' add uncertainty to inflation outlook: RBI annual report")
RBI to allow opening of rupee account outside India to boost currency use
The RBI will permit opening of rupee (INR) accounts outside India by persons resident outside India (PROIs) as part of the 2024-25 agenda for internationalisation of the domestic currency
 "RBI to allow opening of rupee account outside India to boost currency use")
Bank frauds rise 166% in FY24 to over 36,000 cases, shows RBI annual report
RBI annual report: Amount involved in bank frauds decreased 46.7% in FY24 to Rs 13,930 cr
Number of frauds in banking sector rises in FY24, amount declines 47%: RBI
While small value card/internet frauds contributed maximum to the number of frauds reported by the private sector banks, the frauds in public sector banks were mainly in loan portfolio
 "Number of frauds in banking sector rises in FY24, amount declines 47%: RBI")
India's FDI inflows fell 3% to $44 bn in FY24; manufacturing down 18%
FDI inflows into India's manufacturing sector in FY24 are among the lowest in five years, according to provisional data in the RBI annual report
 "India's FDI inflows fell 3% to $44 bn in FY24; manufacturing down 18%")
RBI's increased scrutiny of banks, financial firms leads to restrictions
Since 2020, the RBI has placed business restrictions on many players
GDP growth robust on back of healthy balance sheets of banks, says RBI
The Reserve Bank's Annual Report for 2023-24 said that the Indian economy is navigating the drag from an adverse global macroeconomic and financial environment
 "GDP growth robust on back of healthy balance sheets of banks, says RBI")
S Korea's Shinhan Bank gets CCI nod to acquire 11% stake in HDFC Credila
HDFC Credila Financial Services, is a Reserve Bank of India (RBI)-registered non-deposit taking non-banking financial company
 "S Korea's Shinhan Bank gets CCI nod to acquire 11% stake in HDFC Credila")
Edelweiss tanks 17% as RBI imposes biz restrictions on EARCL, ECL Finance
These directions shall be reviewed by RBI upon satisfactory remediation of their observations
 "Edelweiss tanks 17% as RBI imposes biz restrictions on EARCL, ECL Finance")
Some Indian asset recast firms circumventing rules: RBI deputy Swaminathan
The RBI has increased supervision of regulated entities to prevent systemic risks and to ensure that regulations are followed
 "Some Indian asset recast firms circumventing rules: RBI deputy Swaminathan")
RBI launches G-sec app, PRAVAAH portal: Here is all you need to know
'The launch of a mobile app for accessing the Retail Direct portal will provide greater convenience to retail investors and deepen the G-sec market,' said the RBI Governor
 "RBI launches G-sec app, PRAVAAH portal: Here is all you need to know")
Adani in talks with Paytm to acquire stake? Speculative, says fintech firm
One97 Communications said reports claiming that Gautam Adani, chairman of the Adani Group, is considering acquiring a stake in Paytm's parent company One97 Communications are speculative
 "Adani in talks with Paytm to acquire stake? Speculative, says fintech firm")
European Union banks seek RBI approval for third-party transaction model
Credit Agricole, Societe Generale, Deutsche Bank, BNP Paribas aim to resolve deadlock between their home authorities and Indian policymakers
How many bank holidays are there in June 2024: Check the full list here
There are a total of 8 days of bank closures in June 2024, including national holidays, every second and fourth Saturday and each Sunday
Govt bond yields seen flattish at start of new week amid consolidation
The government's fiscal position is expected to strengthen after a better-than-estimated dividend transfer and could further reduce some supply pressure
 "Govt bond yields seen flattish at start of new week amid consolidation")
RBI dividend usage to signal new govt's fiscal priorities: Ratings agencies
The general elections are currently underway and a new government would be formed sometime next month. A full budget for 2024-25 fiscal would be tabled in July
 "RBI dividend usage to signal new govt's fiscal priorities: Ratings agencies")
RBI shifts to NDFs as preferred forex reserves intervention option
The Reserve Bank of India (RBI) has traditionally been more active in the local over-the-counter (OTC) spot market to keep the rupee stable
 "RBI shifts to NDFs as preferred forex reserves intervention option")
India's new govt will be spoilt for choice with $25 bn extra in kitty
On Wednesday, the RBI announced a record Rs 2.11 trillion dividend transfer to the government
Rupee appreciates 12 paise to 83.17 against US dollar in early trade
Brent crude futures, the global oil benchmark, advanced 0.05 per cent to $81.40 per barrel
 "Rupee appreciates 12 paise to 83.17 against US dollar in early trade")
With PA approval, fintech firm Decentro launches new payment stack
The company has launched fintech products such as collections on Unified Payments Interface (UPI) and will introduce recurring payments in the next few weeks
 "With PA approval, fintech firm Decentro launches new payment stack")