Page 3 - Central Banks

Gold to maintain upward trajectory in 2024, ended CY23 with 15% return

Yellow metal to maintain its impressive run in 2024 on the back of triggers such as the moderation in US economic growth, expectation of rate cuts this year and continued buying from central banks

Investment funds managers face tougher rules on investor cash calls

Global regulators published tougher rules for managers of open-ended investment funds to ensure they can meet investor cash calls in a crisis without need for emergency liquidity from central banks

RBI receives bids 2.7 times against notified amount at 7-day VRR auction

The central bank conducted a VRR auction after six months

Reserve Bank of India net sells $1.5 billion foreign currency in September

In the second quarter of the current financial year, the RBI purchased a net total of $1.9 billion of foreign currency, against $33.7 billion in the second quarter of the previous financial year

Japan's $20 trn 'carry trade' poses risks amid central bank's policy shift

Deutsche Bank's report extends that scenario to include the Japanese government and its balance sheet

Regulated entities to follow new IT framework from April 2024: RBI

The framework will specify the roles and responsibilities of the board of Directors, board level Committee and Senior Management

Bonds are looking attractive and set to beat cash, says Goldman Sachs

Goldman Sachs strategists see 10-year Treasury yields at around 4.6 per cent over the next 12 months, just below their current level after this week's sharp fall

Israel's central bank cuts growth estimate as war impacts economy

The monetary committee kept its benchmark at 4.75% for a third consecutive meeting on Monday, in line with the forecasts of almost all economists surveyed by Bloomberg

G20 FMCBG meeting at Marrakesh: All eyes on MDB reform road map

On crypto assets, Lavasa said it may not be a major priority as there are several issues related to it that require acceptance

Turn and bounce

MPC needs to be extremely vigilant

Unabated FPI selling pulls indices to 1-month low; now eyes on Q2 results

Benchmark indices hit one-month lows on intraday basis

Growth jitters knock global stocks before central bank meeting-packed week

The pan European index slipped 0.5%, dragged down by health care, bank and chip stocks. Societe Generale, France's third-biggest listed bank, saw its shares drop more than 6%

B20 Summit India 2023: Taming inflation key to growth, says FM Sitharaman

Sitharaman says green shoots of private capex upcycle can be felt now

Central banks need to incorporate climate-related risks: RBI dy guv

Central banks need to incorporate climate-related risks into their supervisory frameworks in order to contribute to the development of frameworks and standards for green finance, said RBI Deputy Governor M Rajeshwar Rao. Participating in a panel discussion on 'Climate Implications for Central Banking', he stressed that financing the new green ventures alone will not be enough and there is a need for credible transition plans for existing emitting firms without compromising their output or growth. "For this to materialise, central banks can incorporate climate-related risks into their supervisory frameworks and can contribute to the development of frameworks and standards for green finance. These frameworks can help promote transparency, standardization, and integrity in the green finance market," he said. On Tuesday RBI released the remarks of Rao at the panel discussion organised by the IMF and Center for Social and Economic Forum on July 19 in New Delhi. The deputy governor furth

No question of taking money out of mkt: Aditya Birla Sun Life AMC MD & CEO

"Any rebalancing must not be done entirely out of the equity market but through a mix of exposure to equity and debt. It is prudent to look at it from the prism of an asset class mix"

Central banks set to diverge on rates as stubborn inflation stalks Fed, ECB

With another hike in interest rates anticipated by the Federal Reserve and the European Central Bank for July, and some peers on a similar track

Rupee likely to face stronger headwinds this month: Business Standard poll

Analysts expect dollar index to rise with more rate hikes in the US

I-T dept finds discrepancies in SFT reports filed by certain banks

The Income Tax Department on Friday said it has found discrepancies in Statement of Specified Financial Transaction (SFT) reports filed by some banks with regard to high value financial transactions. Under SFT, specified institutions are required to furnish the details of certain financial transactions or any reportable account maintained by them during the year. The last date for filing an SFT for a fiscal is May 31 of the subsequent fiscal. The reporting entities which are required to file SFT returns with tax authorities include forex dealers, banks, sub-registrar, NBFC, post offices, issuer of bonds/debentures, mutual fund trustees, company paying dividend or buying back shares. In a statement, the Central Board of Direct Taxes (CBDT) said, recently the department carried out "verification" of a Tamil Nadu-based "prominent bank" to address Reporting Entity compliance issues. "In the recent past too, verification was conducted by the department on 2 cooperative banks in Uttarak

M-cap of 6 of valued firms erodes by Rs 1 trn, Reliance takes biggest hit

Six of the top-10 most valued domestic firms suffered a combined erosion of Rs 1,02,280.51 crore in market valuation last week, amid a weak trend in equities, with Reliance Industries taking the biggest hit. Last week, the BSE benchmark fell 405.21 points or 0.63 per cent amid a bearish trend in global equities and concerns over rate hikes by central banks of various countries. From the top-10 pack, Reliance Industries, ICICI Bank, Hindustan Unilever, ITC, Infosys and State Bank of India faced erosion from their market capitalisation (mcap). However, Tata Consultancy Services (TCS), HDFC Bank, HDFC and Bharti Airtel emerged as the gainers. The market valuation of Reliance Industries tumbled Rs 40,695.15 crore to Rs 17,01,720.32 crore. Hindustan Unilever's mcap diminished by Rs 17,222.5 crore to Rs 6,20,797.26 crore. State Bank's valuation fell by Rs 14,814.86 crore to Rs 4,95,048.22 crore and that of Infosys declined by Rs 11,204.66 crore to Rs 5,25,228.89 crore. The mcap of ITC

Bank of Japan's new chief keeps ultra-low rates, embarks on policy review

Revamps guidance, removes pledge to keep rates at low levels; quarterly report projects inflation to hit 1.6% in fiscal 2025