Page 209 - Finance News
PM Modi calls for economic self-reliance, making rupee more acceptable
Modi praised the role of the RBI's Monetary Policy Committee (MPC) for taking steps to control inflation
 "PM Modi calls for economic self-reliance, making rupee more acceptable")
RBI has transitioned into being enabler for market economy: Shaktikanta Das
Shaktikanta Das stated that the RBI has evolved from a central bank focused on resource allocation during the planning era to an enabler for the market economy
 "RBI has transitioned into being enabler for market economy: Shaktikanta Das")
Credit quality of Indian companies stayed healthy in H2FY24, says CRISIL
Rating upgrades surpassed downgrades in H2FY24. Outlook remains robust for H1FY25
 "Credit quality of Indian companies stayed healthy in H2FY24, says CRISIL")
Protectionism to continue if BJP comes back to power
The commerce minister left no one in any doubt that the government will protect the domestic producers as long as they felt that it was necessary
 "Protectionism to continue if BJP comes back to power")
RBI to set up Digital India Trust Agency to check illegal lending apps
The proposed agency will enable verification of digital lending apps and maintain a public register of verified apps, sources said
 "RBI to set up Digital India Trust Agency to check illegal lending apps")
The RBI story: 90 and going strong
As the Reserve Bank celebrates its 90th birthday, here's a look at how different the pitch has been for different governors to bat on since economic liberalisation. Part 1 of a two-part series
 "The RBI story: 90 and going strong")
RBI may hold rate yet again to focus on inflation management: Experts
The Reserve Bank last hiked the repo rate to 6.5 per cent in February 2023 and since then it has held the rate at the same level in its last six bi-monthly policies
 "RBI may hold rate yet again to focus on inflation management: Experts")
India's forex reserves rise by $140 mn to hit fresh peak of $642.63 bn
Gold reserves increased by $347 million to $51.487 billion during the week, the RBI said
 "India's forex reserves rise by $140 mn to hit fresh peak of $642.63 bn")
Fed doesn't need to be in a hurry to cut rates, reiterates Jerome Powell
Investors are now betting the US central bank will make that first cut in June
 "Fed doesn't need to be in a hurry to cut rates, reiterates Jerome Powell")
Bank credit to commercial real estate grows threefold in 11 months of FY24
According to the latest RBI data, outstanding loans to CRE stood at Rs 3.9 trillion as of February 23, 2024. It has grown almost by Rs 1 trillion in the past two years from Rs 2.94 trn in Feb 2022
 "Bank credit to commercial real estate grows threefold in 11 months of FY24")
Banks' GNPAs set to improve further to 2.1% by FY25: Care Rating
The industrial GNPAs were down on corporate deleveraging, resolutions, and write-offs. However, it continues to remain elevated in gems and jewellery and construction sub-sectors
 "Banks' GNPAs set to improve further to 2.1% by FY25: Care Rating")
Credit cards breach the 100 million mark in India, shows RBI data
But overall credit card spending saw a sequential drop in February due to considerable decline in point of sale and e-commerce payments
 "Credit cards breach the 100 million mark in India, shows RBI data")
PNB board approves Rs 10,000 crore fundraising in FY25 by issuing bonds
''The Board of Directors of the Bank, in its meeting held today, has approved raising of capital for an amount up to Rs 10,000 Crore through Basel III Compliant Bonds,'' the bank said in a filling
 "PNB board approves Rs 10,000 crore fundraising in FY25 by issuing bonds")
Banks ready systems for capturing int'l credit card spends under LRS
Last year the government had announced that credit card spends in a foreign currency will be a part of LSR's annual limit of $2,50,000
Rupee turns flat at 83.33 against US dollar amid high crude oil prices
Forex traders said the positive equity markets and inflow of foreign funds resisted the fall in the Indian currency
 "Rupee turns flat at 83.33 against US dollar amid high crude oil prices")
Central govt to borrow 53% of full-year target in the first half of FY25
The gross borrowing in the first six months of the upcoming financial year stands at Rs 7.50 trillion, out of the total borrowing target of Rs 14.13 trillion for FY25
 "Central govt to borrow 53% of full-year target in the first half of FY25")
Nabfid opts for Rs 10,000 cr credit lines over bond issuance to raise money
CRISIL Ratings had assigned an "AAA" rating for non-convertible debentures (NCDs) aggregating Rs 10,000 crore
 "Nabfid opts for Rs 10,000 cr credit lines over bond issuance to raise money")
RBI releases MPC schedule for FY25, first interest rates decision on Apr 5
Typically, the six-member panel votes on a resolution on the third day of the meeting and the governor announces the decision in the first half of the day after the vote is completed
 "RBI releases MPC schedule for FY25, first interest rates decision on Apr 5")
Govt plans to borrow Rs 7.5 trillion from market in first half of FY25
Out of gross market borrowing of Rs 14.13 lakh crore estimated for 2024-25, Rs 7.5 lakh crore, or 53 per cent, is planned to be borrowed in the first half (H1), an official statement said
 "Govt plans to borrow Rs 7.5 trillion from market in first half of FY25")
RBI likely sold US dollars after rupee slips to fresh record low: Traders
The rupee fell to a record low of 83.45 in the closing minutes of the session. It was at 83.37 against the dollar as of 03:28 p.m. IST, down by 0.1% compared with its close of 83.28 on Tuesday
 "RBI likely sold US dollars after rupee slips to fresh record low: Traders")