Page 17 - Rbi

RBI injects ₹81,590 cr liquidity into banking system via VRR auction

The Reserve Bank of India (RBI) on Friday injected Rs 81,590 crore transient liquidity into the banking system through a three-day variable rate repo (VRR) auction. Transient liquidity is temporary cash flow fluctuations in a financial or banking system, while a Variable Rate Repo (VRR) auction is a monetary tool used by the RBI to inject short-term liquidity into the banking system. In a release the RBI said the funds were infused at a 5.26 per cent cut-off rate. The demand for funds still remained lower than the notified amount of Rs 1 lakh crore despite the sharp drop in liquidity surplus in the banking system. However, in comparison with the previous auction conducted on May 21, the demand is higher from banks in Friday's auction. Currently, the liquidity in the banking system is estimated to be in surplus of around Rs 58,876.29 crore as on May 21, as compared to Rs 1.51 lakh crore as on May 20. The tightness in the liquidity surplus has led to a sharp uptick in the overnight

India's forex reserves drop ₹8 bn to ₹688.894 bn, shows RBI data

India's forex reserves dropped USD 8.094 billion to USD 688.894 billion during the week ended May 15, the Reserve Bank of India (RBI) said on Friday. The overall reserves had jumped by USD 6.295 billion to USD 696.988 billion during the week ended May 8. The kitty had expanded to an all-time high of USD 728.494 billion during the week ended February 27 this year before the onset of the Middle East conflict which led to several weeks of a drop as the rupee came under pressure and the RBI had to intervene in the forex market through dollar sales. Prime Minister Narendra Modi has also made multiple public appeals starting May 11 to countrymen to conserve forex by cutting down on foreign travel, limiting fuel use and refraining from gold buys for a year. For the week ended May 15, foreign currency assets, a major component of the reserves, decreased by USD 6.483 billion to USD 545.904 billion, the central bank's data showed. Expressed in dollar terms, the foreign currency assets inclu

BC body pitches for IBA-led reforms for fast-growing banking channel

BCRC has sought an IBA standing committee to address BC remuneration, penalties, grievance redressal, and customer service standards under the RBI's draft framework

RBI not in favour of rate hikes to defend rupee, prioritises inflation

India's rupee has fallen nearly 6 per cent since the Iran war began late in February and slumped to a record low of nearly 96.96 per dollar on Thursday

Don't lose sleep over rupee slide, 100 is just a number: Panagariya to RBI

Arvind Panagariya advised the RBI not to worry about the rupee crossing 100 against the dollar and said depreciation is the right response to the oil shock

RBI board may approve ₹2.8-3.3 trillion surplus transfer on Friday

Economists expect the RBI's FY26 surplus transfer to the government to exceed last year's record Rs 2.7 trillion dividend payout

India's outbound FDI commitments decline 10.8% to $5.6 billion in April

India's outward foreign direct investment commitments fell 10.8 per cent year-on-year in April, led by lower guarantees and debt commitments

RBI set for record dividend transfer to govt, fiscal gap likely to persist

An expected ₹3.05 trillion handover, the midpoint of the poll, would be ‌the highest share of expected government revenue in more than two decades, excluding the fiscal year 2019-2020

RBI weighs all options including rate hike, forex swaps to stabilise rupee

The next scheduled monetary policy decision is on June 5, although the RBI has previously made an out-of-cycle adjustment in May 2022

Rupee touches fresh low, nears 97/$ as RBI unveils $5 bn buy-sell swap

The 30-year US bond yield hit the highest level since 2007 on inflation concerns

RBI allows lenders to disable financed mobiles in loan default cases

The RBI has proposed allowing lenders to restrict financed mobile devices in loan default cases, while mandating safeguards, borrower notices and compensation for wrongful action

RBI likely to hold repo rate at 5.25% through FY27: India Ratings

India Ratings projects GDP growth at 6.7% and inflation at 4.4%, warning that higher crude prices and West Asia tensions may pressure growth and trade deficit

RBI proposes revised capital adequacy disclosure norms for banks

Draft norms aim to align Indian banks with Basel Pillar 3 requirements and improve transparency, comparability, and market discipline

RBI to conduct five-day VRR auction on Wednesday for ₹1.5 trillion

The Reserve Bank of India will conduct a five-day variable rate repo auction to manage evolving liquidity conditions in the banking system

RBI keeping close watch to see if supply shocks warrant policy action: Guv

RBI Governor Sanjay Malhotra said the central bank is monitoring whether supply shocks from the West Asia conflict trigger broader inflationary pressures

Stablecoins fail core tests of money; CBDC not risky: Reserve Bank of India

The Reserve Bank of India said stablecoins fail key tests of money and warned that such virtual digital assets pose financial stability and jurisdictional risks

Gunveer Singh elevated as RBI Executive Director with effect from May 18

The Reserve Bank of India has elevated Gunveer Singh as Executive Director to oversee the Department of Payment and Settlement Systems

RBI decides against imposing additional capital buffer on banks

The Reserve Bank of India said prevailing systemic risk conditions do not warrant activating the countercyclical capital buffer for banks at this stage

Gunveer Singh appointed RBI Executive Director with immediate effect

The Reserve Bank on Monday promoted Gunveer Singh as Executive Director (ED), the central bank said in a statement. Prior to this, Singh was serving as Chief General Manager-in-Charge of Department of Payment and Settlement Systems of the central bank. His appointment as ED is effective from Monday. As Executive Director, Singh will look after the Department of Payment and Settlement Systems, the RBI said. Singh has over three decades of experience in the Reserve Bank having worked in areas of payment and settlement systems, banking and non-banking supervision, risk monitoring, government banking and other areas. He has also served as a payment systems expert at the Central Bank of Oman. Singh is a Chartered Accountant and a Cost and Works Accountant.

Real-time risk scores on cards for digital payments to track fraud

Move aims to track originators of money transfers via mule accounts