Page 87 - Latest Updates on Reserve Bank of India
Indian economy still growing below its potential, says Jayanth R Varma
Varma says if the economy is not overheating, there is no need of a high real interest rate, which can choke growth
 "Indian economy still growing below its potential, says Jayanth R Varma")
India's forex reserves decline $5.24 bn to $617.23 bn, shows RBI data
Foreign currency assets, which constitute the largest component of the reserves, dropped USD 4.07 billion to USD 546.52 billion during the week under review, as per the latest data
 "India's forex reserves decline $5.24 bn to $617.23 bn, shows RBI data")
RBI allows banks, non-banks to issue PPIs to commuters for public transport
PPIs are instruments that facilitate the purchase of goods and services, financial services, remittance facilities etc, against the value stored therein
 "RBI allows banks, non-banks to issue PPIs to commuters for public transport")
What makes Indian fintech fast and furious, but also a little fraudulent?
Know-your-customer, or KYC, regulations aren't easy anywhere. But fintech adoption in India has done more than just open the floodgates to financial inclusion
 "What makes Indian fintech fast and furious, but also a little fraudulent?")
Reserve Bank bolsters oversight of fintech firms with more inspections
All the sources declined to be named as they were not authorised to speak to the media
 "Reserve Bank bolsters oversight of fintech firms with more inspections")
Paytm users may take up to 6 months to shift to other service providers
Fintech giant is planning to apply for third-party application provider licence
 "Paytm users may take up to 6 months to shift to other service providers")
Flows into NRI deposits up 72.7% in April-December 2023: RBI Bulletin
Non-resident external (NRE) deposits were at $97.69 billion in December 2023, up from $96.79 billion in November and $94.46 billion at the end of December 2022
 "Flows into NRI deposits up 72.7% in April-December 2023: RBI Bulletin")
Paytm Payments Bank crisis: How to deactivate Paytm FASTag and buy new one
In the recently released FAQs, the RBI suggested users procure a new FASTag issued by a bank other than Paytm Payments Bank before March 15
 "Paytm Payments Bank crisis: How to deactivate Paytm FASTag and buy new one")
The new challenge on the banking turf
Raising deposits to keep pace with loan growth and keeping credit cost low top the agenda for banks
 "The new challenge on the banking turf")
A breather for Paytm Payments Bank? What RBI's FAQs for customers indicate
The company is shifting its nodal account to Axis Bank to continue merchant settlements
 "A breather for Paytm Payments Bank? What RBI's FAQs for customers indicate")
Foreign exchange reserves snaps two-week gaining streak, shows RBI data
The reserves fell by $5.27 billion in the reporting week, their steepest fall in a month, after having risen by a total of $6.36 billion in the prior two weeks
 "Foreign exchange reserves snaps two-week gaining streak, shows RBI data")
P2P lending; best in spring water brands: Top personal finance stories
This week we explain how to play safe on peer-to-peer platforms; how mineral water assists your health
 "P2P lending; best in spring water brands: Top personal finance stories")
Reserve Bank of India restrains commercial card payments by a network
The RBI has clarified that business credit cards will continue to function as usual
 "Reserve Bank of India restrains commercial card payments by a network")
Banking laws and regulatory shake-ups
Regulatory action against Paytm's payments bank points to the need for reform of banking regulation
 "Banking laws and regulatory shake-ups")
Green capital flows into emerging mkts must be bolstered: RBI governor
Vigilant in navigating final stretch of disinflation: Das
 "Green capital flows into emerging mkts must be bolstered: RBI governor")
ED starts preliminary probe into Paytm Payments Bank after RBI's decision
That comes two weeks after the country's central bank ordered Paytm's banking affiliate to wind down
 "ED starts preliminary probe into Paytm Payments Bank after RBI's decision")
Black and white
India must build on improved macroeconomic stability
 "Black and white")
RBI slams microfinance institutions for charging higher rates to borrowers
In 2021, the RBI had given full freedom to entities on interest rates to be charged for microloans by lifting the interest rate cap of 24 per cent put earlier
 "RBI slams microfinance institutions for charging higher rates to borrowers")
Non-executive directors' remuneration cap increased to Rs 30 lakh: RBI
The notification further stated that the banks are required to have suitable criteria for granting fixed remuneration to their NEDs, with the approval of their Board before any review of remuneration
 "Non-executive directors' remuneration cap increased to Rs 30 lakh: RBI")
Amid RBI's clampdown, EPFO to halt Paytm Payments Bank linked claims
Paytm crisis: The Employees' Provident Fund Organisation will stop accepting claims made via the Paytm Payments Bank accounts from February 23
 "Amid RBI's clampdown, EPFO to halt Paytm Payments Bank linked claims")