Page 25 - Rbi Policy

Govt bond yields likely to dip tracking US yields on Fed rate stance

The 10-year yield was around the crucial 4.60% mark, while the two-year yield, a closer indicator of interest rate expectations was around 4.95%

UPI transactions dip marginally in April to Rs 19.64 trn; grow Y-o-Y

Fasting, IMPS and Apes transactions decline too in the month

Small finance banks to seek RBI clarification on loan book diversification

The AU SFB board will discuss future course of action soon. It says the focus is now on integrating with Fincare

Enlightened leadership needed to resolve tax distribution: Subbarao

Former RBI Governor Duvvuri Subbarao has opined that only enlightened leadership at Centre and state levels can resolve the complex north-south divide in deciding on the distribution of the tax pool among states, saying it is beyond the remit of the Finance Commission. Subbarao, who held various positions including the finance secretary of Andhra Pradesh and Union finance secretary, and wrote extensively on issues in fiscal federalism in his new book titled 'Just A Mercenary?: Notes from My Life and Career' further said that horizontal sharing of the divisible pool of taxes has always been a contentious issue but will be even more so in this round. "This (north-south divide in deciding on the distribution of the tax pool among states) is a complex political challenge beyond the remit of the Finance Commission. "Resolving it will demand enlightened leadership at central and state levels that can look beyond politics and build a consensus around an optimal way forward," he told PTI.

India, Nigeria agree to early conclusion of local currency settlement

India and Nigeria have agreed to an early conclusion of a local currency settlement system agreement to further strengthen economic ties between the two countries. According to the department of commerce, a seven-member delegation from India led by Additional Secretary in the commerce ministry Amardeep Singh Bhatia visited Abuja, Nigeria for the second session of India-Nigeria Joint Trade Committee (JTC) on April 29-30. It was held after a gap of five years. Both sides have identified several focus areas to enhance bilateral trade and mutually beneficial investments. The sectors include crude oil, natural gas, pharmaceuticals, unified payments interface (UPI), local currency settlement system, power and renewable energy, agriculture and food processing, education, transport, railway, aviation, and MSMEs development. "Both sides agreed to the early conclusion of a local currency settlement system agreement to further strengthen bilateral economic ties," the department has said on ..

Positive real yields on India govt bonds visible, says SBI official

The inflation-adjusted returns will accrue even if inflation does not ease to the Reserve Bank of India's 4% target and stabilises around 5%, he said

AU Small Finance Bank eligible for universal banking licence application

AU Small Finance Bank has recorded profits for the previous two fiscal years, and maintained gross and net non-performing assets below 3% and 1%, respectively, as mandated by the RBI

RBI plans curbs on suspect bank accounts to fight cyber fraud: Report

The suspensions would target accounts frequently misused to transfer funds gained from cyber crime, both government sources said

RBI directs Talkcharge to stop PPI, wallet issuance; refund balances

The fintech firm offers services such as cashbacks, coupons, and wallets to customers

When the RBI listens and communicates to bring change in the system

Regulation-making has become collaborative with changes first being brought in the form of a discussion paper or a draft circular

India not reaping benefits of its demographic dividend: Raghuram Rajan

India is not reaping the benefits of democratic dividends, former RBI governor Raghuram Rajan said Tuesday, emphasizing that there is need to focus on improving the human capital and enhancing their skill sets. I think we are in the midst of it (democratic dividend), but the problem is we are not reaping the benefits, Rajan said at a conference on Making India an Advanced Economy by 2047: What Will it Take at the George Washington University here. That's why I said 6 per cent growth. If you think that's about what we are right now, take away the fluff in the GDP numbers. That 6 per cent is in the midst of a demographic dividend. It is much below where China and Korea were when they reaped their demographic dividend. And that's why I'm saying we are being overly complicit when we say this is great. This is not because we are losing the demographic dividend because we are not giving those guys jobs, the former RBI governor said. And that leads us to the question, how do we create thos

Rising speculative bets stoke RBI crackdown on currency derivative

Volumes up 3x post Covid; 2/3rd participation by prop traders

India's consumption story gets a facelift as rural demand shows promise

FMCG companies have also witnessed a pick-up in rural areas.

Overnight swaps suggest RBI likely to hold interest rates through 2024

OIS markets reflect interest rate expectations, with higher rates indicating elevated interest rates for a longer period

The last mile

Climate issues can complicate monetary policy

How self-regulatory organisations may set their relationship with Mint Road

The risk is that there could be a multiplicity of SROs, leading to pull and push pressures

Monetary policy review: Optimism on growth, caution on inflation

Five of the six members of the RBI's MPC panel have voted for the status quo on both the policy rate and stance

RBI turns down request to remove 'small finance' tag from bank name

Retaining it crucial given mandate for financial inclusion

RBI to release final framework for fintech SROs by April-end: Governor Das

Das said the banking regulator was working towards operationalising one SRO for fintechs by the Global Fintech Festival (GFF) scheduled in September

Rupee rises 9 paise to 83.30 against US dollar post RBI policy decision

The rupee appreciated 9 paise to close at 83.30 (provisional) against the US dollar as the Reserve Bank of India on Friday kept the benchmark interest rate unchanged at 6.5 per cent for the seventh time in a row. However, a strong US dollar against major rivals overseas and elevated crude oil prices capped sharp gains for the local unit, forex traders said. At the interbank foreign exchange market, the local unit opened at 83.44 against the greenback. The unit hit an intra-day high of 83.26 and a low of 83.45. The local unit finally settled at 83.30 (provisional) against the dollar, 9 paise higher from its previous close. On Thursday, the rupee recovered 14 paise to close at 83.39 against the US dollar. The rupee gained as the RBI's monetary policy remained the focus. The central bank kept CPI and GDP projections for FY25 unchanged at 4.5 per cent and 7 per cent, respectively, said Anuj Choudhary Research Analyst, Sharekhan by BNP Paribas. "After a detailed assessment of the evol