Page 98 - Latest Updates on Reserve Bank of India
All-India House Price Index moderates to 3.4% in Q2FY24: RBI data
On a quarter-on-quarter basis, all-India HPI contracted by 1.2% in the second quarter of 2023-24; seven of the 10 cities saw price increase in housing registration during the latest quarter
 "All-India House Price Index moderates to 3.4% in Q2FY24: RBI data")
RBI imposes penalty on HDFC Bank, Bank of America for violating FEMA norms
RBI fined HDFC Bank, a leading private sector bank, for accepting deposits from non-residents and flouting RBI's directions under the Liberalised Remittance Scheme of FEMA, 1999
 "RBI imposes penalty on HDFC Bank, Bank of America for violating FEMA norms")
Monetary Policy Committee may have underestimated economic growth for Q2
Most economists peg it higher than 6.5%, numbers to come today
 "Monetary Policy Committee may have underestimated economic growth for Q2")
Not for everyday transactions, but cash still store of value: RBI report
Currency in circulation up despite rise of digital transactions
RBI in discussions with US, Hong Kong, Swift on digital bank payments
Current practices involve routing funds through banks using the Swift platform. CBDCs could enable direct settlements between parties, offering advantages such as speed and cost-efficiency
 "RBI in discussions with US, Hong Kong, Swift on digital bank payments")
FPIs' Rs 12,399 crore bet on debt this month highest in over 2 years
Foreign inflows of Rs 47,105 crore into debt in CY23 at 6-year high
 "FPIs' Rs 12,399 crore bet on debt this month highest in over 2 years")
RBI likely to keep rates on hold for entire 2024, says Kaustubh Gupta
We believe US rates have peaked, and the US Federal Reserve can start easing in the second half of 2024. However, the same cannot be said for Indian policy responses
 "RBI likely to keep rates on hold for entire 2024, says Kaustubh Gupta")
RBI slaps penalty on Citibank, Bank of Baroda, IOB for violating norms
On Bank of Baroda, RBI said the lender failed to ensure accuracy and integrity of data on large exposures submitted to RBI with respect to some accounts
 "RBI slaps penalty on Citibank, Bank of Baroda, IOB for violating norms")
Reserve Bank adds 19 unauthorised forex trading platforms in 'Alert List'
In a statement, the Reserve Bank said the Alert List also contains names of entities/platforms/websites which appear to be promoting unauthorised entities
 "Reserve Bank adds 19 unauthorised forex trading platforms in 'Alert List'")
IndusInd Bank to allow CNG bill payments through CBDC in Delhi-NCR
The users will also be allowed to scan any UPI QR using their digital Rupee app across all IGL stations in the region
 "IndusInd Bank to allow CNG bill payments through CBDC in Delhi-NCR")
RBI and NPCI look for offline methods to boost digital payment adoption
RBI has established a sandbox allowing startups to experiment with various central bank-backed digital currency (CBDC) use cases
 "RBI and NPCI look for offline methods to boost digital payment adoption")
India non-bank body appeals to RBI to review recent risk weight increase
The RBI last week increased the risk weights, or the capital that banks need to set aside for every loan disbursed, for banks and NBFCs by 25 percentage points to 125% on retail loans
Banks focusing on client acquisition, less on grievance redress: RBI's Rao
Deputy guv says efforts to provide timely solutions to grievances have not kept pace with technology
Audit report of 'bob World' is in progress; RBI decision to impact capital
In October, RBI had ordered Bank of Baroda (BoB) to suspend further customer onboarding on its 'bob World' mobile app with immediate effect
 "Audit report of 'bob World' is in progress; RBI decision to impact capital")
Bank of Baroda yet to complete forensic audit on mobile app fraud: Official
On October 10, the Reserve Bank of India (RBI) banned the lender from on-boarding new customers on its mobile app after finding certain material supervisory concerns
 "Bank of Baroda yet to complete forensic audit on mobile app fraud: Official")
Financial sector must avoid 'all forms of exuberance': RBI governor
Sound caution on credit growth, model-based lending, high-interest rates charged by MFIs, contagion risks
 "Financial sector must avoid 'all forms of exuberance': RBI governor")
RBI Guv asks NBFC-MFIs to be wise in using flexibility on interest rates
Speaking at the annual Fibac event, Das said the microlending segment serves marginalised clientele and has emerged as an important financial conduit to foster financial inclusion
 "RBI Guv asks NBFC-MFIs to be wise in using flexibility on interest rates")
Banks, NBFCs need to be watchful of stress building up: Shaktikanta Das
'Banks and NBFCs must continue to do stress tests of their books,' RBI Governor Shaktikanata Das said on Wednesday
SBI rejigs portfolio of MDs, DMDs, Vinay Tonse appointed managing director
Vinay Tonse will now look after retail banking and operations, which was earlier with Alok Kumar Choudhary
 "SBI rejigs portfolio of MDs, DMDs, Vinay Tonse appointed managing director")
FY24 to end with strong growth performance, macroeconomic stability: FinMin
The Reserve Bank of India (RBI) has projected a 6.5 per cent GDP growth in the current financial year ending March 2024
 "FY24 to end with strong growth performance, macroeconomic stability: FinMin")