Page 27 - Rbi

RBI imposes penalty of ₹44.70 lakh on Bandhan Bank over regulatory lapses

The Reserve Bank of India has imposed a penalty of Rs 44.7 lakh on Bandhan Bank for deficiencies in certain statutory and regulatory compliance. In a statement on Friday, the RBI said that a statutory inspection for supervisory evaluation of the bank was conducted with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why a penalty should not be imposed on it for its failure to comply with the said RBI directions. RBI said the bank paid remuneration in the form of commission to certain employees. Also, Bandhan Bank had carried out manual intervention through the back-end in respect of data of certain accounts and had not captured the audit trails/ logs of access with specific user details in the system. RBI, however, said the penalty is based on deficiencies in statutory and regulatory compliance and

Forex reserves drop $4.38 billion to $690.72 billion, shows RBI data

India's forex reserves dropped USD 4.386 billion to USD 690.72 billion for the week ended August 22, the Reserve Bank of India (RBI) said on Friday. The overall reserves had jumped USD 1.488 billion to USD 695.106 billion in the previous reporting week. For the week ended August 29, foreign currency assets, a major component of the reserves, decreased USD 3.652 billion to USD 582.251 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves. The gold reserves decreased USD 665 million to USD 85.003 billion during the week, the RBI said. The special drawing rights (SDRs) were down USD 46 million to USD 18.736 billion, the apex bank said. India's reserve position with the IMF was also down USD 23 million at USD 4.731 billion in the reporting week, the apex bank data showed.

RBI net sells $3.6 bn in Jun, net short dollar position dips to $60.39 bn

The RBI reversed its forex stance in June with $3.6 bn net sales, while rupee's REER stayed flat and forward dollar short positions dropped further to $60.39 bn

India's economy resilient but US trade policies a risk: RBI bulletin

Average headline inflation, meanwhile, is seen remaining significantly below the central bank's target of 4 per cent this financial year, according to the RBI bulletin

A reasonable request: RBI should allow Indian banks to finance M&As

Restrictions on bank finance for M&As have had some perverse and unintended consequences.

Gems and jewellery sector seeks RBI relief as 50% US tariffs hit exports

Facing a 50% US tariff on exports, the gems and jewellery sector has asked the RBI for loan relief and EMI support, warning of payment delays, job losses and sector-wide stress

RBI asks banks to monitor 'high risk' fund flows coming from Pakistan

It named Pakistan as "high risk" jurisdiction from an arms financing perspective and cited Indian investigations into arms financing but did not go into detail about their findings

New Development Bank appoints RBI's Rajiv Ranjan as vice president

NDB, the BRICS multilateral bank, named RBI executive director Rajiv Ranjan vice president and chief risk officer for five years; he will assume charge in September

Sales of listed private NFCs grow at slower pace of 5.5% in Q1 FY26: RBI

Sales of listed private non-financial companies grew at a slower pace of 5.5 per cent in the first quarter of 2025-26 compared to 6.9 per cent in the year-ago period, the Reserve Bank of India said on Monday. The RBI released the data on the performance of the private corporate sector during the first quarter of 2025-26, drawn from abridged quarterly financial results of 3,079 listed private non-financial companies. "Sales of listed private non-financial companies rose by 5.5 per cent during Q1 2025-26 compared to 7.1 per cent growth in the previous quarter (6.9 per cent in Q1 2024-25)," the central bank said. According to the data, aggregate sales growth of 1,736 listed private manufacturing companies moderated further to 5.3 per cent during the first quarter of the current fiscal from 6.6 per cent in the previous quarter, mainly dragged by the weak performance of the petroleum industry. Sales growth of IT firms declined to 6 per cent during Q1 of 2025-26 from 8.6 per cent in the

Nikki Bhati dowry death case, RBI on US tariffs, Fitch affirms India’s rating at ‘BBB-’ & more top #newsinamin

RBI Governor Sanjay Malhotra on Monday said the central bank will respond with policy measures if the 50% US tariffs, effective Wednesday, hurt India’s growth.

Got SGBs? Here's when you can redeem early between Oct 2025 and Mar 2026

Investors holding SGBs from 2018-21 can opt for early exit between Oct 2025 and Mar 2026 as RBI announces the redemption schedule

Best of BS Opinion: The RBI's current policy framework has worked well

Today's Opinion Page looks at the RBI's recent discussion paper on inflation targeting, OpenAI's plans for India, the role of institutions in growth, and the recent GST rate cuts boost to growth

The RBI's monetary policy framework has worked well, change not required

The trend-inflation rate has hovered close to the target, except mostly in times of excess volatility, and the credibility of the central bank has visibly strengthened

SMBC gets approval from RBI to acquire up to 25% stakes in Yes Bank

Will not be categorised as promoter, RBI clarified

Yes Bank stake sale to Sumitomo gets RBI approval for 24.99% acquisition

The RBI has approved Japanese lender Sumitomo Mitsui Banking Corporation to acquire up to 24.99 per cent stake in Yes Bank; the approval is valid for one year and SMBC will not be a promoter

Bond yields rise to around five-month high on fears of increased supply

Market participants said that the yield on the benchmark 10-year bond might rise to 6.58-6.60 per cent during the next week

RBI inflation target review, liquid MFs' demand rises, S&P's sovereign rating India upgrade & more

The RBI has floated a discussion paper, seeking views on whether the 4% target should continue, if headline or core inflation should be tracked, and whether the current ±2% band should be tweaked.

RBI approves Indranil Bhattacharya's nomination as MPC ex-officio member

Indranil Bhattacharyya, Executive Director at RBI, has been nominated as an ex officio member of the Monetary Policy Committee (MPC), following the 618th meeting of the RBI's Central Board in Lucknow

RBI names Indranil Bhattacharyya as new MPC member ahead of October meet

The RBI Board approved Bhattacharyya's nomination as an ex officio MPC member, replacing Rajiv Ranjan

MFIs raise loan-waiver concerns with RBI, finance ministry ahead of polls

Bihar, Assam, Kerala, Tamil Nadu and West Bengal - which go to polls between the latter half of 2025 and the early part of 2026 - account for 42 per cent of microfinance institutions' (MFIs) portfolio