Page 120 - Rbi

India to get rating support if it uses RBI dividend to reduce deficit: S&P

The interim budget presented in Parliament earlier in the year targets a fiscal deficit of 5.1 per cent of the GDP

Bumper RBI dividend of Rs 2.11 trillion to give govt more fiscal room

Economists said that the government may not need much borrowing because of the highest-ever transfer of surplus to the government

RBI approves record dividend of Rs 2.11 lakh cr to Govt What does it mean?

RBI has approved Rs 2.11 trillion as dividend to the government, a move that would potentially help the Indian government attain its fiscal deficit target. But how? Watch the video to find out.

Windfall for govt as RBI transfers record Rs 2.1 trillion for FY24

Higher income both from domestic and foreign assets; Increases contingency buffer to 6.5%

RBI board approves surplus transfer of Rs 2.11 trillion to govt for FY24

The RBI said the board decided to raise the contingency risk buffer to 6.5% from 6% previously

Inflation seen closer to target in FY26: RBI's state of the economy report

RBI has projected consumer price index (CPI) inflation of 4.5 per cent in FY25, with Q1 at 4.9 per cent; Q2 at 3.8 per cent; Q3 at 4.6 per cent; and Q4 at 4.5 per cent

Reserve Bank of India net dollar purchases in FY24 highest since FY21

March dollar purchase highest since June 2021

Outward remittances under LRS hit new high of $31.73 bn: RBI data

The remittances have seen a continuous increase in the last 10 years owing to improved per capita income in the country

NRI deposit flows up 63.5% to $14.7 bn in FY24, the highest in 8 years

FCNR deposits were at $25.73 billion in March 2024, up from $24.90 billion in February 2024. This was higher than the $19.36 billion at the end of March 2023

India on cusp of long-awaited economic take-off: RBI monthly bulletin

India is on the cusp of long-awaited take-off on the back of rising aggregate demand, and non-food spending in rural economy, according to the Reserve Bank of India May Bulletin released on Tuesday. The outlook for the global economy is turning fragile as the descent of inflation is stalling, re-igniting risks to global financial stability, said an article on 'State of the Economy' published in the Bulletin. Capital flows have become volatile as nervous investors turn risk averse, it added. The article is prepared by a team led by Reserve Bank Deputy Governor Michael Debabrata Patra. The article further said "there is a growing optimism that India is on the cusp of a long-awaited economic take-off" as recent indicators are pointing to a quickening of the momentum of aggregate demand. It notes that for the first time in at least two years, rural demand for fast moving consumer goods (FMCG) has outpaced urban markets -- in the quarter just gone by. FMCG volume growth of 6.5 per cen

Household savings likely to rise in FY24, liabilities to moderate: CRISIL

Household savings are likely to rise in fiscal 2023-24, an arm of a domestic rating agency said on Tuesday. Crisil Market Intelligence and Analytics said there are "early indicators", which show that household savings would have revived in FY24, while growth in household liabilities would have moderated. "Proxy data suggest a rebound in the overall savings rate in FY24, with contribution from households," it said in a note, adding that household savings constitute 60 per cent of the total savings in the economy. It can be noted that official data released last year showed a dramatic fall in India's net financial household savings rate to a 47-year-low of 5.3 per cent from 7.3 per cent in FY22. The Crisil report explained that households have been borrowing at a faster pace than they have been saving since the pandemic, due to which the net household financial savings, which was arrived at by adjusting financial savings for liabilities. Factors like retail credit push by banks and

RBI bought net $13.25 bn in spot forex market in March, shows bulletin

The RBI said it purchased $14.84 billion and sold $1.59 billion during the month. In the previous month, it had bought a net $8.56 billion in the spot market

Short-term govt bond yield may fall on Rs 60,000 crore T-bill supply cut

The yield on the 5-year government bond settled at 7.09 per cent on Friday

RBI in talks with Sebi to allow mutual funds to sell debt to ARCs

ARCs are not allowed to buy debts from MFs currently

Non-fintech online PAs: Firms may reconsider payment aggregator biz

This comes as Zomato Payments, the wholly owned subsidiary of food delivery platform Zomato, voluntarily surrendered the certificate of authorisation issued by the RBI

Gold loan business is shining as regulatory scrutiny of sector grows

Recent RBI actions many increase companies' operational cost for but there is enough headroom for growth, say experts

Need proactive risk mitigation measures to tackle cyberattacks: RBI

RBI deputy governor Swaminathan J said the potential impact of a cyberattack on a bank's operations, reputation, and financial stability cannot be "overstated", as he emphasised the need for proactive risk mitigation strategies. Speaking at the Conference of Heads of Assurance of Urban Cooperative Banks here on Thursday, the deputy governor said that in the ever-changing landscape of banking, new risks constantly emerge. While traditional risks like credit, market and liquidity risks remain significant, new challenges like cybersecurity threats and operational disruptions have emerged. The proliferation of digital technologies and the interconnected nature of financial systems have exposed banks to a myriad of cyber threats, ranging from data breaches to malicious ransomware attacks, he added. "The potential impact of a successful cyberattack on a bank's operations, reputation, and financial stability cannot be overstated, underscoring the critical importance of robust cybersecurity

Reliance Capital seeks 10-day extension to transfer assets to Hinduja group

The administrator of debt-ridden Reliance Capital (RCAP) has approached the Reserve Bank to seek a 10-day extension of the deadline to transfer businesses to a successful bidder -- a Hinduja Group company, sources said. The deadline for the transfer of Reliance Capital's asset to Aasia Enterprises, a Hinduja Group company, ended on Friday, they added. The RBI approval granted on November 17, 2023, was valid for only 6 months. The RCAP Administrator has sought an extension of 10 days till May 27 from the RBI, sources said. It may be mentioned that May 27 also happens to be the deadline for the implementation of the resolution plan by the Hinduja Group company as per the NCLT order. The National Company Law Tribunal (NCLT) Mumbai, while approving the resolution plan on February 27, directed IndusInd International Holdings Ltd to implement it within 90 days ending May 27. The tribunal had approved Hinduja Group firm IndusInd International Holdings Ltd's Rs 9,650-crore resolution pla

RBI flags supervisory concerns over functioning of debt recast companies

The Deputy Governor urged the ARCs to adopt a regulation-plus approach where there is compliance with both the letter of the regulation and its spirit

RBI flags concerns over functioning of asset reconstruction companies

Swaminathan J urged ARCs to adopt an approach where there is compliance "with both the letter of the regulation and also its spirit," the central bank said in a statement