Page 36 - Rbi Policy

On a hat-trick: Will RBI Governor Shaktikanta Das throw another surprise

RBI has maintained a hawkish tone in the last two policy reviews, and those steps were to further reinforce the point that the central bank is not dropping its guard on inflation any time soon

Peer-to-peer (P2P) lending: What is it, and who regulates it in India?

Peer-to-peer (P2P) lending is the practice of lending money to individuals or businesses through online services that match lenders with borrowers

NBFC business has to hit the reset button after RBI strengthens norms

Shadow banks will have to review how they lend money as Mint Road puts a squeeze on their credit lines

Arka Fincap aims to raise Rs 300 crore via non-convertible debentures

Due to surging unsecured loans like personal loans and those on credit cards, the RBI increased the risk weighting for such loans from 100 per cent to 125 per cent

MPC likely to hold repo rate for fifth time in a row, shows BS poll

Likely to revise FY24 growth forecast upward

Expect no change in policy rate and stance

The RBI will not take its eyes off inflation. There is no room for complacency

RBI to hold rates at 6.50% through mid-2024, cut seen in Q3: Poll

All 64 economists in the Nov. 17-30 Reuters poll expected the central bank to hold the repo rate at 6.50% at the conclusion of its Dec. 6-8 meeting

Machine learning can help forecast inflation yields better: RBI Report

The report said that on average, ML techniques demonstrated superior performance compared to traditional linear models in both pre-pandemic and post-pandemic periods

Business as usual for Abhyudaya Cooperative Bank on Tuesday: Official

On Sunday, 21 branches of the bank were opened which did not see any unusual rush

RBI supersedes Abhyudaya Co-operative bank board, appoints administrator

No business restrictions, to carry out normal banking activities

RBI slaps penalties totalling Rs 10.34 cr on Citibank, BoB, and IOB

The Reserve Bank on Friday imposed penalties totalling Rs 10.34 crore on Citibank, Bank of Baroda, and Indian Overseas Bank for contravention of various regulatory norms. The highest penalty of Rs 5 crore has been imposed on Citibank NA for non-compliance of norms related to depositor education and awareness fund scheme, and code of conduct on outsourcing of financial services, the RBI said in a statement. A fine of Rs 4.34 core was imposed on the state-owned Bank of Baroda for violation of certain directions related to the creation of a central repository of large common exposures, and others, another release said. Chennai-based public sector lender Indian Overseas Bank was slapped with a Rs 1 crore fine for contravention of directions concerning loans and advances. In all three cases, the Reserve Bank of India said, penalties are based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the banks

Songs, cricket metaphors: RBI governor's way of conveying complex issues

Das has often cited the example of Arjuna's eye to communicate that the central bank is completely focused on bringing down inflation

SBI set to increase interest rate after RBI's higher risk weight norms

RBI says growth-driving sector exempted from tighter norms

Fintechs may shift to secure products after RBI order on consumer loans

Central bank's directives not a complete surprise and will prompt sector to diversify business, they say

Risk weight hikes by RBI: Maintaining credit score now more crucial

If you're finding it difficult to secure a personal loan or credit card, be prepared to offer some collateral

RBI tightening on unsecured loans: White goods firms fear margin squeeze

While the consumer won't bear the brunt of RBI's move, companies, however, still await clarity but expect their margins to take some hit

No-cost, longer-tenure EMIs gain traction, drive consumer product sales

Notably, to address the concern of the rapid rise in unsecured consumer loans, the RBI increased the risk weight on consumer credit

Forex trade impacted by platform outage; RBI asks for root cause analysis

Trading in the forex market was impacted on Friday as one of the platforms suffered an outage. One of the electronic trading platforms suffered an outage around midday during the trading hours due to which players were unable to log into the system, according to sources. Orders dried up as a result of this, they said, adding that this created a heightened uncertainty in the forex market, causing excess volatility in the Indian rupee, which was avoidable. According to market participants, the Rupee, which has been range-bound around 83.30 to the dollar for many weeks lost some ground as a result of the volatility, depreciating till 83.50 intra-day before closing at 83.34 at the end of the trading session. A source said the Reserve Bank of India has asked the platform to undertake a "root cause analysis" and "ascertain whether it was a system failure or human error that led to the disruption" on the platform. The RBI has also sought an explanation from the platform to understand the

ICICI Bank gets RBI nod to make ICICI Securities wholly-owned subsidiary

ICICI Bank on Thursday said ICICI Securities will be its wholly owned subsidiary following the approval of the Reserve Bank of India. The ICICI Bank on June 29 had approved a proposal to delist ICICI Securities and become a wholly-owned subsidiary of the bank after delisting. The bank has received approval from the RBI for making ICICI Securities a wholly owned subsidiary, subject to certain conditions, ICICI Bank said in a regulatory filing. "Certain other statutory/regulatory approval(s), as required under applicable laws, are awaited," it said. ICICI Securities, promoted by ICICI Bank, is the country's leading retail-led equity franchise, distributor of financial products and investment bank.

RBI remains watchful, monetary policy actively disinflationary: Das

Reserve Bank of India remains watchful and the monetary policy is actively disinflationary and supporting growth, Governor Shaktikanta Das said on Thursday. The government has mandated the RBI to ensure that inflation based on the Consumer Price Index (CPI) remains at 4 per cent with a margin of 2 per cent on either side. At a symposium in Tokyo, Das also talked about the central bank's approach to the fintech ecosystem, saying it is customer-centric. There is focus on good governance, ensuring effective oversight, ethical conduct and risk management, and encouraging self-regulation by the fintechs themselves through a Self-Regulatory Organisation (SRO), he said. Das said the Monetary Policy Committee (MPC) in its October meeting projected CPI inflation at 5.4 per cent for 2023-24, a moderation from 6.7 per cent in 2022-23. The CPI inflation fell to a three-month low of 5 per cent in September. The data for October is scheduled to be released on November 13. Headline inflation, .