Page 35 - Rbi Policy

9 states raise Rs 13,500 crore via auction of bonds, Punjab tops list

Data from the Reserve Bank of India (RBI) revealed that Punjab raised the highest amount of Rs 4,000 crore through three bonds

RBI selects McKinsey, Accenture to use AI to improve regulatory supervision

The Reserve Bank has selected global consultancy firms McKinsey and Company India LLP and Accenture Solutions Pvt Ltd India to develop systems using artificial intelligence and machine learning for its supervisory functions. The RBI is looking to extensively use advanced analytics, artificial intelligence and machine learning to analyse its huge database and improve regulatory supervision over banks and NBFCs. For this purpose, the central bank plans to hire external experts. In September last year, the RBI invited expressions of interest (EoI) for engaging consultants for the use of advanced analytics, artificial intelligence and machine learning for generating supervisory inputs. Based on the scrutiny/evaluation set out in the EOI document, the central bank had shortlisted seven applicants to participate in the request for proposal process (RFP) for the selection of consultant(s). The seven firms were Accenture Solutions Private Limited; Boston Consulting Group (India) Pvt Ltd; .

Monetary policy review: RBI holds rates steady as inflation looms large

Repo rate remains at 6.5%; FY24 inflation forecast up at 5.4%; surprise incremental CRR move to drain out over Rs 1 trillion

Staying the course: What could prompt the RBI to change its approach?

Even though monetary policy cannot directly counter supply-led shocks to food prices, authorities can still demonstrate their commitment to controlling inflation

Status quo policy with hawkish undertone

Any chance of a rate cut has moved further away - to the second half of FY25, for now

Benchmarks fall on inflation concerns; bank, consumer stocks underperform

Analysts termed the RBI's move a sign of higher diligence towards rising prices and said banks would end up parking more funds with the RBI for which they won't be earning interest

RBI move focused on taming inflation, supporting growth: Industry groups

RBI has kept the policy rate unchanged at 6.5 per cent

RBI deputy Guv asks banks to double down on recovery efforts, limit losses

Reserve Bank Deputy Governor Swaminathan J on Thursday asked banks to double down on recovery efforts to limit the losses from the write-off of loans, saying it will help them post higher profits. The career commercial banker who recently joined the regulator also added that a bank's ability to recover or a borrower's liability to repay does not diminish with a loan write-off and recoveries can help a lender post higher profits. Earlier this week, the government informed Parliament that over Rs 14.56 lakh crore of advances were written-off by banks since FY15. "We would like the banks to redouble their efforts because these are accounts that are parked in a special account and we would like to see more and more recoveries," Swaminathan told reporters at the central bank headquarters here. Stating that there is a need to get the "context right" in this matter, he offered some nuances and stressed that there is a need to be "guarded" in "passing judgements". The DG said an NPA accou

Sensex ends 308 pts lower post RBI policy, Nifty near 19,550; Zee zooms 20%

CLOSING BELL ON AUGUST 10, 2023: Private bank and select auto stocks ended with notable losses after the RBI on Thursday asked banks to maintain Incremental Cash Reserve Ratio (ICRR) at 10 per cent.

May need to go beyond keeping Arjuna's eye to tame inflation: RBI governor

"We have to stand in readiness to go beyond keeping Arjuna's eye to deploying policy instruments, if necessary" to contain inflation, said Reserve Bank Governor Shaktikanta Das on Thursday. Headline consumer price index-based inflation projection for the second quarter of 2023-24 has been revised up substantially, primarily due to the price shock from vegetables, at 6.2 per cent by the RBI form 5.2 per cent estimated in June. Unveiling the bi-monthly monetary policy, Governor Das said the moderation in headline inflation to 4.6 per cent in the first quarter of 2023-24 was in line with the projections set out in the June MPC meeting. There was a pick-up in headline inflation to 4.8 per cent in June due to an upturn in food inflation. "Going by the past trends, vegetable prices may see a significant correction after a few months. The prospects of kharif crops have brightened, thanks to improvement in the progress of the monsoon," he said. Uncertainties, however, remain on domestic f

Mixed trend on charts in rate-sensitive stocks post RBI policy outcome

Trend in rate-sensitive stocks remains mixed, with stocks like Manappuram Finance, M&M and Union Bank of India showing resilient up move, while a few others display fragile outlook

RBI rate unchanged: Continue with floating home loans, lock in those FDs

Home loan borrowes should continue with floating interest rate loans

Banks to maintain 10% additional CRR from Aug 12 as temporary measure: RBI

Action is part of central bank's efforts to reduce surplus liquidity, it says after monetary policy announcement

RBI policy: Can higher inflation become the new normal for the markets?

The upward revision in RBI's inflation projection, analysts suggest, implies that the central bank is likely to keep the rates elevated for a longer period of time than what the Street expected.

RBI policy: Rate sensitives mixed; private banks, auto stocks underperform

At 11:01 AM, Nifty Bank and Nifty Financial Services index were down 0.65 per cent as compared to 0.50 per cent decline in the Nifty 50 index

Stocks to Watch today, Aug 10: Rate sensitives, IRCTC, Bata, Force Motors

Stocks to watch on August 10, 2023: Shares of rate sensitive sectors, such as auto, banks and real-estate will be in focus on Thursday as RBI announces its policy decision.

SBI, PNB: Here's how to trade banks post Q1 results and ahead of RBI Policy

Post Q1 results, major banking stocks have lost the upside bias. Most stocks are facing hurdles at upper levels.

SBI MD bats for allowing special Vostro surplus in corporate bonds

This arrangement for investment has not really picked up in terms of surplus money in the vostro accounts being invested in g-secs, he added

When P2P platforms act like deposit-taking NBFCs

Before it is too late, the RBI should come down on practice of renting out the P2P licence and some of them playing fund managers instead of offering a meeting platform to borrowers and the lenders

US Fed hike on expected lines; RBI to take a balanced view: Analysts

The 0.25 per cent hike in interest rates by the US Fed was on expected lines, analysts said on Thursday, expecting its Indian counterpart to take a balanced view in its policy formation going forward