Page 3 - Finance News
RBI will do 'whatever is required' to ensure orderly forex market: Guv
Malhotra said the rupee currently appears undervalued following a sharp depreciation of around 6 per cent since the West Asia war erupted on February 28
 "RBI will do 'whatever is required' to ensure orderly forex market: Guv")
ICICI Bank seeks at least ₹100 crore recovery from fintech firms
Growing discomfort among banks over eroding interchange income
 "ICICI Bank seeks at least ₹100 crore recovery from fintech firms")
RBI's MPC likely to maintain status quo in June: Business standard poll
The domestic rate-setting panel cut the policy repo rate by a cumulative 125 basis points in 2025 and it was on hold in the February and April policies
 "RBI's MPC likely to maintain status quo in June: Business standard poll")
ATM interchange fee may be indexed to WPI; NPCI likely to take up matter
NPCI may review ATM interchange fees and link charges to WPI as rising operating costs put pressure on India's ATM ecosystem
 "ATM interchange fee may be indexed to WPI; NPCI likely to take up matter")
ECLGS 5.0 finds traction as MSMEs look for buffer amid uncertainty
Banks are seeing early interest in ECLGS 5.0 as MSMEs seek extra liquidity buffers amid rising uncertainty linked to the West Asia crisis
 "ECLGS 5.0 finds traction as MSMEs look for buffer amid uncertainty")
FY26 NRI deposits declined to $14.4 billion: RBI's monthly bulletin
Inflows into India's non-resident deposit schemes moderated in FY26, with FCNR(B) deposits witnessing a sharp slowdown, RBI data showed
 "FY26 NRI deposits declined to $14.4 billion: RBI's monthly bulletin")
India offers talent, growth opportunities via GIFT city: FM Sitharaman
Nirmala Sitharaman says GIFT City showcases India's scale, talent and technology as banking assets cross $110 billion at the IFSC hub
 "India offers talent, growth opportunities via GIFT city: FM Sitharaman")
Crude oil prices remain risk to external sector outlook: RBI Bulletin
The global economy continued to be shadowed by uncertainties in West Asia, said an article on the state of the economy published in the May Bulletin
 "Crude oil prices remain risk to external sector outlook: RBI Bulletin")
RBI injects ₹81,590 cr liquidity into banking system via VRR auction
The demand for funds still remained lower than the notified amount of Rs 1 trillion despite the sharp drop in liquidity surplus in the banking system
 "RBI injects ₹81,590 cr liquidity into banking system via VRR auction")
India's forex reserves drop ₹8 bn to ₹688.894 bn, shows RBI data
The overall reserves had jumped by $6.295 billion to $696.988 billion during the week ended May 8
 "India's forex reserves drop ₹8 bn to ₹688.894 bn, shows RBI data")
RBI may turn to 2013 taper tantrum playbook to defend weakening rupee
The urgency has grown after the rupee slumped to a record low of nearly 97 per dollar this week, driving up import costs and further eroding investors' confidence
 "RBI may turn to 2013 taper tantrum playbook to defend weakening rupee")
RBI not in favour of rate hikes to defend rupee, prioritises inflation
India's rupee has fallen nearly 6 per cent since the Iran war began late in February and slumped to a record low of nearly 96.96 per dollar on Thursday
Rupee rises 18 paise to 96.18 against US dollar on RBI intervention
At the interbank foreign exchange market, the rupee opened at 96.30 against the US dollar, then touched 96.18 in early trade, up 18 paise from its previous close
 "Rupee rises 18 paise to 96.18 against US dollar on RBI intervention")
Don't lose sleep over rupee slide, 100 is just a number: Panagariya to RBI
Arvind Panagariya advised the RBI not to worry about the rupee crossing 100 against the dollar and said depreciation is the right response to the oil shock
 "Don't lose sleep over rupee slide, 100 is just a number: Panagariya to RBI")
RBI board may approve ₹2.8-3.3 trillion surplus transfer on Friday
Economists expect the RBI's FY26 surplus transfer to the government to exceed last year's record Rs 2.7 trillion dividend payout
 "RBI board may approve ₹2.8-3.3 trillion surplus transfer on Friday")
Currency in circulation rises 11%, nears record ₹43 trillion by mid-May
In absolute terms, CiC expanded by Rs 1.15 trillion during the first one and a half months of FY27, indicating sustained demand for cash despite continued growth in digital payments
 "Currency in circulation rises 11%, nears record ₹43 trillion by mid-May")
Rupee recovers to 96.43 after hitting 100/USD in 1-year forward market
At the interbank foreign exchange market, the rupee opened at 96.25 against the dollar, then touched an early high of 96.05 and a low of 96.60 in intraday trade on Thursday
 "Rupee recovers to 96.43 after hitting 100/USD in 1-year forward market")
RBI set for record dividend transfer to govt, fiscal gap likely to persist
An expected ₹3.05 trillion handover, the midpoint of the poll, would be the highest share of expected government revenue in more than two decades, excluding the fiscal year 2019-2020
Banks need to push APY subscribers toward higher pension slab: DFS Secy
The flagship social security scheme, APY, has witnessed gross enrolments crossing the 9 crore mark, and in FY26, a record 1.35 crore new subscribers were added
 "Banks need to push APY subscribers toward higher pension slab: DFS Secy")
RBI to conduct overnight VRR auction to infuse ₹1.25 trillion liquidity
The Reserve Bank of India will conduct an overnight VRR auction on Thursday to manage evolving liquidity conditions and keep overnight rates aligned with the policy repo rate