Page 32 - Rbi Policy

RBI releases draft norms for fintech self-regulatory organisations

The draft norms, which were released on Monday, said SRO-FTs should strive towards healthy and sustainable development of the fintech sector

Reserve Bank of India likely to withdraw relief to govt-owned NBFCs

Substantial time has elapsed since Government owned NBFCs were brought within the ambit of prudential regulations in May 2018

RBI revise guidelines for SFBs, raise min capital requirement to Rs 200 cr

The Reserve Bank on Monday raised the minimum capital requirement for small finance banks to Rs 200 crore and permitted Payments Bank to upgrade as SFBs. Incidentally, the net worth of all SFBs currently in operation is in excess of Rs 200 crore. Issuing the revised guidelines, the Reserve Bank said that for Primary (Urban) Co-operative Banks (UCBs) desirous of voluntarily transiting into SFBs, the initial requirement of net worth would be at Rs 100 crore, which will have to be increased to Rs 200 crore within five years from the date of commencement of business. Payments Banks can apply for conversion into SFB after five years of operations if they are otherwise eligible as per the guidelines, it said. Meanwhile, Fino Payments Bank, in a statement, said the bank has already applied for an SFB licence as per regulatory guidelines on Payments Bank conversion to SFB. The regulator is examining the application and awaiting further comments from the RBI as per the process, Fino ...

Central banks worldwide to ease monetary policy in coming year: Report

After racing ahead with the most aggressive tightening campaign in decades during 2022, 2023, central banks around the world poised to begin easing monetary policy as inflation continues to retreat

RBI gives clarity to 'politically exposed persons' term to meet FATF norms

They are individuals entrusted with prominent public functions by a foreign country, including the heads of states or governments

Poonawalla Fincorp's AUM rises 57% to around Rs 21,850 cr in Q3FY24

Sequentially, Poonawalla Fincorp's AUM expanded by 8 per cent over in the second quarter ended September 2023

UPI scales new high in December; 2023 value up 59% at Rs 183 trn

Monthly FASTag and IMPS transactions increase too, but those at Aadhaar Enabled Payment System fall

Brookfield-backed Indostar Capital sells stressed SME loans worth Rs 292 cr

NBFC says in filing it is making efforts to sell nearly 50% of its stressed assets

The big change at RBI

Bankers say Das' stint has been a refreshing change. "After a long time, we have a governor who is approachable. I can say that because the RBI's interactions with us are now much better,"

Bank credit to industry slows to 6.1%, services sector sees growth: RBI

The retail loans growth decelerated to 18.6 per cent in November 2023 from 19.9 per cent a year ago due to moderation in credit growth to housing

Banks not spending IT budgets fully, says RBI Dy Guv Swaminathan J

Reversal of interest cycle to impact margins, profits

RBI continues battle against inflation; eyes on possible rate cut in 2024

For five consecutive policy reviews in 2023, the Reserve Bank of India (RBI) chose to hold rates, citing inflation threat. And when the prices did cool off a bit, it reminded all about the target to get the headline consumer price inflation at 4 per cent and the risks from food inflation. Heading into the new year, all eyes are on when RBI will cut the rates, especially after one of the Monetary Policy Committee (MPC) members stressed on the need for such an action in the face of the US Federal Reserve's guidance for easing rates. Also, some analysts point to the Consumer Price Inflation (CPI) falling below the 4 per cent mark in mid-2024 and then, there will be prospects of a rate cut. RBI Governor Shaktikanta Das, who is into the last year of his second three-year term at the helm of the central bank, has been steadfast in highlighting the need to get the inflation down to 4 per cent on a durable basis. CPI cooled off to a four-month low of 4.87 per cent in October but rose to 5.5

RBI warns banks, NBFCs against reliance on model-based lending practices

The regulator said inherent biases and lack of transparency with AI/ML outcomes carry risks

RBI announces 2-day repo for $6 billion as overnight rates stay elevated

The RBI had infused 1.75 trillion rupees through a seven-day VRRR on Dec. 22 and 1 trillion rupees in the prior week that matured on Dec 22

'Closer to where rates have to be cut to avoid excessive real interest'

Varma says that since monetary policy acts with lags of three to five quarters, rate actions must be based on projected inflation rather than past inflation prints. In an interview with Manojit Saha

Need to keep real rates at level to sustain virtuous cycle: Ashima Goyal

Ashima Goyal tells Manojit Saha in an email interview that the inflation rate does not necessarily have to fall to 4%, but it is essential to be confident that it will stay below 5%

NBFCs begin provisioning for AIF exposure after RBI tightens norms

Piramal to adjust Rs 3,164 cr; IIFL Finance sees Rs 161 cr impact

Indian bond yields continue flattish trend, traders eye fresh cues

Indian government bond yields were largely flat on Wednesday in yet another trading session, amid consolidation after their recent decline and as traders awaited more directional triggers

Gross fiscal deficit of Centre, states stays under 7% of GDP: RBI article

Lower disinvestment receipts are likely to be offset by sharp gains in non-tax revenues, mainly attributable to higher dividends from the Reserve Bank and other financial institutions

Outward remittances under RBI's LRS scheme dropped 60% in October

In the August-October quarter of financial year 2024, Indians remitted $9.05 billion overseas, as compared to $7.26 billion in the second quarter of FY24