Page 87 - Latest Updates on Reserve Bank of India
Bullish case for the rupee's rebound dented by RBI's intervention fears
RBI's objective is to prevent outsized moves in the rupee in either direction, said Michael Wan, senior currency analyst at MUFG, adding that this would limit the rupee's upside
 "Bullish case for the rupee's rebound dented by RBI's intervention fears")
India's move to buy back bonds runs into RBI's need to keep tight stance
Last week, the monetary authority accepted bids for about a quarter of the 400 billion rupees ($4.8 billion) of bonds the government offered to repurchase
 "India's move to buy back bonds runs into RBI's need to keep tight stance")
Piramal Group's fund management arm invests Rs 600 cr in Annapurna Finance
The assets under management of Annapurna Finance exceed $1.25 billion as of March 31, 2024, with 1,372 branches spread across 20 states and covering nearly 450 districts
 "Piramal Group's fund management arm invests Rs 600 cr in Annapurna Finance")
Foreign portfolio investor selling tops $2 billion in May: NSDL data
The selling by FPIs has come at a time when traders are increasingly anxious about the margin of victory of the incumbent Narendra Modi government in the ongoing Lok Sabha elections
 "Foreign portfolio investor selling tops $2 billion in May: NSDL data")
RBI appoints R Lakshmi Kanth Rao as executive director effective May 10
As executive director, Rao will handle the Deposit Insurance and Credit Guarantee Corporation (DICGC), the Right to Information Act (FAA), and the Department of Communication
 "RBI appoints R Lakshmi Kanth Rao as executive director effective May 10")
No country can ignore ratings by credit rating agencies: Subbarao
RBI may be looking at the bigger picture, and companies at their balance sheets, says former RBI governor D Subbarao on draft provisioning norms
 "No country can ignore ratings by credit rating agencies: Subbarao")
Risk provisioning
The stability of the banking system should be paramount
 "Risk provisioning")
RBI project finance norms: Will absorb additional provision, says SBI chief
Provision buffer of Rs 33, 000 crore sufficient for ECL norms
 "RBI project finance norms: Will absorb additional provision, says SBI chief")
RBI's advisory will not affect Manappuram's business, says MD & CEO
The RBI recently advised NBFCs extending gold loans not to lend in cash exceeding Rs 20,000, citing the Income Tax Act
 "RBI's advisory will not affect Manappuram's business, says MD & CEO")
Reserve Bank of India repurchases govt bonds worth Rs 10,512 crore
Most of the funds were picked up by state-owned banks and insurance companies, said market participants
 "Reserve Bank of India repurchases govt bonds worth Rs 10,512 crore")
Muthoot, Manappuram Finance tank up to 9% on RBI's cash disbursal advisory
According to reports, the RBI has said no gold loan NBFC should disburse loan amount in excess of Rs 20,000 in cash
 "Muthoot, Manappuram Finance tank up to 9% on RBI's cash disbursal advisory")
Consumer price inflation likely slipped in April, food inflation sticky
V Anantha Nageswaran, the government's chief economic adviser, said on Wednesday the Indian economy was better placed than before to pursue 'non-inflationary' growth
 "Consumer price inflation likely slipped in April, food inflation sticky")
FinMin to discuss RBI's draft project financing norms with banks, IBA
The official said banks will assess the impact of the draft rules on their balance sheets and can approach the RBI based on their assessment
 "FinMin to discuss RBI's draft project financing norms with banks, IBA")
RBI governor discusses ways to scale up UPI ecosystem with stakeholders
The meeting was attended by banks, the National Payments Corporation of India (NPCI), third-party application providers, and technology service providers
 "RBI governor discusses ways to scale up UPI ecosystem with stakeholders")
RBI asks NBFCs not to lend more than Rs 20,000 in cash for gold loan
NBFCs are required to maintain a Loan-to-Value (LTV) ratio not exceeding 75 per cent for loans granted against the collateral of gold jewellery
 "RBI asks NBFCs not to lend more than Rs 20,000 in cash for gold loan")
Leading refiner, that brings in up to 20% gold, starts trading on India INX
This suggests that India INX, set up at GIFT City (Gujarat International Finance Tec-City), is becoming the main place for Indian jewellers and gold importers to hedge against the risk in gold prices
 "Leading refiner, that brings in up to 20% gold, starts trading on India INX")
Need to reform, reinvent civil services: Former RBI Governor D Subbarao
'I firmly believe that a country of our size and diversity still needs a generalist service like the IAS but the service needs to be reformed, and even reinvented, in many ways
 "Need to reform, reinvent civil services: Former RBI Governor D Subbarao")
RBI to make digital currency available offline, says Governor Das
India is one of the few economies to experiment with a digital currency backed by a central bank, even as developed nations tread cautiously
 "RBI to make digital currency available offline, says Governor Das")
Bond buyback signals RBI's easing stance, may switch to neutral, says Citi
While liquidity tightness was not acute in April and overnight rates had not hit the MSF ceiling, the RBI probably anticipated election-related constraints on govt spending could tighten liquidity
 "Bond buyback signals RBI's easing stance, may switch to neutral, says Citi")
Highlights of the day: Paytm President and COO Bhavesh Gupta tenders resignation
From Uddhav Thackrey's attacks on BJP, to Air India's decision to resume its flights between Delhi and Tel Aviv, catch all the latest news here
 "Highlights of the day: Paytm President and COO Bhavesh Gupta tenders resignation")