RBI

SBI Card added the highest number of new credit cards in May as the industry added nearly one million cards, while credit card spending rose to Rs 2.02 trillion

States and UTs are expected to raise Rs 3.19 trillion through market borrowings in Q2FY27, while the RBI expands its benchmark issuance framework to improve SDL liquidity

India's forex reserves increased by USD 963 million to USD 672.587 billion during the week ended June 19, the RBI said on Friday. In the previous reporting week, the overall reserves had dropped by USD 9.985 billion to USD 671.625 billion. For the week ended June 19, foreign currency assets, a major component of the reserves, decreased by USD 3.072 billion to USD 541.217 billion, according to the RBI. Expressed in dollar terms, the foreign currency assets include effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in foreign exchange reserves. However, the value of gold reserves increased by USD 4.110 billion to USD 107.930 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down USD 52 million to USD 18.647 billion, the apex bank said. India's reserve position with the IMF slipped USD 22 million to USD 4.793 billion in the reporting week, according to the apex bank's data.

The central bank's draft guidelines require board-approved model risk frameworks, stronger oversight of AI models and enhanced safeguards for customer-facing artificial intelligence applications

Under the draft proposals, companies will also be allowed to participate in the term money market as lenders but smaller non-bank finance firms will be excluded

Today's opinions examine monsoon uncertainty, RBI's NBFC framework, worsening state finances, Donald Trump's economic approach and the future of modern feminism

In its latest direction, the central bank has dropped a provision defining the "indirect receipt of public funds"

Tata Sons was designated an upper-layer NBFC by the RBI in September 2022, mandating its listing within three years

RBI introduces Total Return Swaps and widens credit derivatives participation to deepen the corporate bond market and improve risk management

The draft framework permits transactions to be executed in over-the-counter markets, including NDS-CALL and electronic trading platforms authorised by the RBI

Draft master directions bring together rules for government securities trading, widening market access while consolidating norms on reporting, settlement and short selling

Cross-border payment firms are seeking licences in markets such as Canada, the US and Singapore as they look to build a multi-country presence beyond India

Policy worries fade; clarity on foreign currency deposit lifts lenders

The draft framework requires regulated entities to establish board-approved model risk management systems covering all models, including AI and machine learning applications

The revised framework aligns foreign exchange risk calculations with Basel standards and allows certain structural foreign-currency exposures to be excluded from NOP calculations

However, the central bank has deferred the implementation of the framework by six months, from July 1, 2026, to January 1, 2027

Governor Sanjay Malhotra says investor-friendly measures are being rolled out as India seeks inclusion in Bloomberg's Aggregate Bond Index

RBI's push to attract FCNR deposits may ease external pressures, but improving conditions raise questions over the costs, risks and necessity of the incentives

The revised framework mandates annual identification of Upper Layer NBFCs and brings government-owned entities under the same exposure norms as their regulatory peers

The Reserve Bank on Wednesday said in case of complaints of fraudulent electronic banking transactions via a credit card, a bank should provide shadow reversal or provisional credit of the disputed amount within 5 days from the date of customer notification. The RBI has issued revised framework on limiting customer liability in digital transactions. A bank should design its systems and procedures to make customers feel safe about carrying out electronic banking transaction (EBT) and it should put in place appropriate systems and procedures to ensure safety and security of EBTs carried out by customers, the amended norms said. "A bank shall mandatorily send instant SMS alerts to its customers for all EBTs of value more than Rs 500. For EBTs of value up to Rs 500, a bank may decide to send instant SMS as per its internal policy but without any charge to the customer," the RBI said. These norms will come into effect from January 1, 2027. Also, the bank's communication systems, deploy