Page 34 - Rbi Policy

RBI not comfortable with NPAs in UCBs, asks lenders to focus on governance

RBI Governor Shaktikanta Das on Monday said the central bank is "not comfortable" with the gross non-performing assets ratio of 8.7 per cent in urban cooperative banks (UCBs) and asked them to work towards improving the same. Addressing directors of UCBs in the financial capital at an RBI-organised conference, Das urged that such lenders should improve the governance standards, avoid related-party transactions and focus on credit risks, among others. It can be noted that the UCB sector has been fraught with multiple challenges and also witnessed difficult times in the recent past, like the implosion of the city-headquartered Punjab and Maharashtra Bank. Das reminded the directors of the UCBs that banks run on depositors and added that protection of the hard-earned money pooled in from the middle class, poor and retirees is far more sacred than going to a temple or a gurdwara. While the overall picture at an aggregate level looks nice, the situation on GNPAs and capital adequacy is

India's forex kitty drops $867 million to $593.037 billion: RBI data

The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year

RBI allows HDFC AMC's stake acquisition in DCB Bank, Karur Vysya, 2 others

Federal Bank, Karur Vysya have to ensure that acquisition does not exceed 9.5% of their paid-up share capital

Household savings fall to decades low, borrowing rises: RBI data

Annual financial liabilities of households increases by 5.8% of GDP

Old pension scheme 4.5 times more costly than the existing NPS: RBI Study

The RBI report comes at a time when five states - Rajasthan, Chhattisgarh, Jharkhand, Punjab, and Himachal Pradesh have announced their return to the OPS for government employees

Private bank headcount closes in on public sector bank tally: RBI data

While total employees working with PSBs are falling over the years, the number of those in officer's grade has risen from 386,000 at the end of March, 2020, to 397,000 in March, 2023

Reappointment of ICICI Bank CEO Sandeep Bakhshi gets RBI approval

Bakhshi took charge of the second largest lender on October 15, 2018. Prior to his appointment as MD & CEO, he was a Wholetime Director and the Chief Operating Officer (COO) of ICICI Bank

Bond yields decline as RBI seeks views on settlement via Euroclear platform

The potential settlement of domestic currency bonds through an offshore platform such as Euroclear has been a long-standing topic of discussion

RBI open to consider securitisation in restricted classes: M. Rajeshwar Rao

For standard assets, the securitisation framework permits a diverse set of investors to subscribe to the securitisation notes of underlying loans

Chief executives of shadow banks urge RBI to allow public deposits

Number deposit taking NBFCs fell sharply in last 8 years

RBI cautions UCB directors against camouflage of financial position

The RBI today held a Conference of Directors on the Boards of Tier 3 and 4 Urban Cooperative Banks (UCBs) in Mumbai Zone

Credit card spend hits new high in July at Rs 1.44 trillion: RBI data

The data showed that e-commerce payments cornered 65.71 per cent of the total credit card spend in July, with PoS (point-of-sale) transactions accounting for 34.28 per cent

Rupee appreciates 7 paise to 82.73 against US dollar in early trade

The rupee rose by 7 paise to 82.73 against the US dollar on Wednesday amid a positive sentiment in equity markets. Rising crude oil prices and strengthening dollar, however, weighed on the Indian currency, according to forex traders. At the interbank foreign exchange, the domestic unit opened stronger at 82.67 and hit the level of 82.74 against the greenback. Later, the rupee was trading at 82.73 against the dollar, registering a gain of 7 paise from its previous close. On Tuesday, the rupee closed at 82.80 against the US dollar. "Yesterday, in the latter part of the day, dollar fell sharply and that led to gains not only in major crosses but also in commodities," Gaurang Somaiya, Forex and Bullion Analyst at Motilal Oswal Financial Services, said. On the domestic front, GDP numbers will be important to watch and better-than-expected numbers could support the rupee, he said. GDP numbers are scheduled to be released on Thursday. Meanwhile, the dollar index, which gauges the green

Rate cuts possible when real interest rate becomes excessive: Jayant Varma

'Cooling commodity prices augers well for inflation in the medium term'

Analysts turn cautious on Asian markets; India remains an outlier

Indian markets, analysts believe, are an outlier and can still justify expensive valuations amid a likely recovery in corporate earnings going ahead

Lenders need to make software tweaks, borrower engagement for RBI Rules

Mere communication of rules for reset and choice fixed rates via channels including email would not be enough

'No further interest on penal charges': RBI issues new guidelines for loans

RBI's new instructions on penal charges on loans shall come into effect from January 1, 2024

Participation of non-bank entities in govt debt mkt rose during pandemic

The report also found that non-bank investors are more sensitive to changes in government securities yields compared to their banking counterparts

Rupee slumps to 10-month low as dollar index rises; breaches 83/$ intraday

Breaches 83/$ intraday; RBI intervention cap losses

I-Day eve address: Prez says inflation successfully contained by govt, RBI

President Murmu says people cushioned from ill-effects of price rise; applauds India's economic resilience