Page 12 - Rbi Policy

NRIs face residency test upon India return, must stick to 182-day rule

Given the lack of legal clarity in India around status, assuming they are residents immediately after return could invite penalties and prosecution

A time to handhold: Lenders must support MSMEs as tariff woes rise

As MSME tariff woes increase, lenders have to work closely with smaller industries, even as demand for a lifeline grows, reports Raghu Mohan

RBI board to meet Friday to approve new internal monetary policy member

The RBI board will approve Indranil Bhattacharyya as the new internal member of the monetary policy committee, replacing Rajiv Ranjan ahead of the next review in late September

Future policy actions dependent on growth-inflation dynamics: Nagesh Kumar

Hopefully, the penal tariffs for Russian oil purchase will be withdrawn, and the ongoing bilateral trade negotiations will succeed in eventually bringing down the US tariffs on Indian exports to more

'If 50% tariffs continue, near-term adverse impact on growth very likely'

The importance of domestic savings is likely to increase, given the uncertainties on our external balance

RBI shifting towards principle- and outcome-based regulatory framework: Rao

RBI Deputy Governor M Rajeshwar Rao said the central bank is gradually transitioning to a principle- and outcome-based regulatory framework to ensure flexibility and resilience

RBI moots revision in capital charge norms for counterparty credit risks

The revision pertaining to CCR is proposed to largely align with the Basel Committee on Banking Supervision (BCBS) guidelines, reflecting the development and depth of the respective market segments

IRCTC harbours fintech ambitions with new payment aggregator entity

With RBI's in-principle nod for IRCTC Payments, the rail PSU plans to process transactions in-house, cut costs, and expand payment services beyond railways

WPI inflation dips for 2nd month, hits 25-month low of -0.58% in July

The negative rate of inflation in July is primarily due to a decrease in prices of food articles, mineral oils, crude petroleum and natural gas, manufacture of basic metals

ICICI Bank revises minimum account balance to ₹15,000 from ₹50,000

The revised MAB for new accounts now stands at Rs 15,000 for metro and urban areas, Rs 7,500 for semi-urban, and Rs 2,500 for rural branches, effective August 1

Nominee, survivorship clause can ease heirs' bank account, locker claims

For claims without a nominee, heirs should be prepared to submit succession certificates or letters of administration for larger amounts

Fiscal policy must match banking reality in bad loans amid economic shifts

The new framework introduces a principle-based regime, harmonises treatment across banks and non-banking financial companies (NBFCs)

Money changers demand relief as accounts frozen over suspicious transfers

The industry body for foreign exchange providers, or money-changers, says accounts of members are being frozen on suspicion of proceeds received unknowingly from fraudsters through multi-layering of f

FD investors alert: Waiting for higher rates may prove futile, warn experts

RBI has kept the repo rate at 5.5% on August 6. FD rates may fall further. Here's what experts suggest depositors should do next

RBI leaves repo rate unchanged, FD rates unlikely to move higher for now

The central bank's decision to keep the policy rate at 5.5 per cent, and inflation projected to stay low, means that fixed deposit rates are not likely to be revised upwards

Decision to hold rates appropriate and prudent, MPC unanimity a surprise

The RBI governor's post-policy conference also stated that uncertainty on tariff negotiations made any quantification on the growth impact difficult at this juncture

RBI panel for retaining WACR as operating target of monetary policy

The group was set up to the existing review of the Liquidity Management Framework which is in place since February 2020

RBI has done its part, solutions to external disruptions lie elsewhere

The MPC also reduced its inflation projection for this financial year from 3.7 per cent to 3.1 per cent, which is significantly lower than the target of 4 per cent

No asset quality worries in MFIs or unsecured loans, says RBI Governor

The Reserve Bank does not have any concern on asset quality from unsecured loans perspective, including microfinance (MFI), Governor Sanjay Malhotra said on Wednesday. The system NPAs (non-performing assets) are also "satisfactory", Malhotra told reporters, stressing that the proportion of dud assets is not increasing. Recalling that the NPAs in the unsecured segment like personal loans and credit cards, and also MFI, were indeed seen to be rising, Malhotra said the RBI acted by raising the risk weights which had the intended impact of slowing credit growth in the segments. "We have seen a slowdown in credit growth there. From an overall perspective, this (NPAs in unsecured loans and MFI) is not a cause of concern for us," he said. Malhotra also assured that MFIs, which serve the bottom of the pyramid and help deepen financial inclusion, will get all the attention as is required. Meanwhile, allaying fears of a decline in deposit rates leading to a shift of deposits to avenues beyo

RBI allows treasury bills investment via SIP in Retail Direct scheme

The Retail Direct portal was launched in November 2021 to facilitate retail investors to open their gilt accounts with the RBI under the Retail Direct scheme