Page 40 - Rbi

SBI reduces interest rates by up to 50 bps following RBI's rate cut

The country's biggest lender State Bank of India (SBI) has reduced its lending rate by 50 basis points following the Reserve Bank's policy rate cut, making loans cheaper for both existing and new borrowers. With the latest round of reduction, the Repo Linked Lending Rate (RLLR) of SBI would come down by 50 basis points to 7.75 per cent. It has also reduced the External Benchmark Based Lending Rate (EBLR) by similar basis points to 8.15 per cent from 8.65 per cent earlier. The revised rates come into effect from June 15, 2025, according to updated rate information on SBI's website. The rate reduction is in response to the June 6 RBI jumbo rate cut by 50 basis points to support growth, which hit a four-year low of 6.5 per cent in FY25. The RBI's six-member monetary policy committee, headed by Governor Sanjay Malhotra and consisting of three external members, voted five to one to lower the benchmark repurchase or repo rate by 50 basis points to 5.5 per cent. It also cut the cash res

What works in central banking? Striking a balance between talk and action

The latest monetary policy has also gone for a 50-basis-point rate cut, double the anticipated reduction

Microfinance industry refashions itself amid opportunities and challenges

Central bank has taken a sympathetic view of institutions by easing some lending norms

RBI repo rate cuts alone can't shift India's economic growth gear

Clearly, it is not for the RBI and its monetary policy committee (MPC) to fix any of these deep structural issues and magically create growth

RBI rejects bids for 30-year green bonds as investors seek high yields

Investors demanded higher returns for 30-year green bonds, prompting RBI to reject all bids at auction; bond yields rise amid absence of greenium and market caution

SBI cuts EBLR, home loan rates by 50 bps after RBI's policy rate cut

SBI reduces EBLR and home loan rates by 50 basis points and special deposit scheme rate by 25 basis points, effective from 15 June 2025, following RBI's repo cut

RBI eases KYC rules: What’s changing for you from 2026 | RBI KYC guidelines

The Reserve Bank of India has introduced significant changes to simplify the Know Your Customer (KYC) process. From mandatory reminders before freezing accounts to allowing kirana shop owners to help

RBI gives Yes Bank MD & CEO Prashant Kumar 6-month extension: Lender

Yes Bank said RBI has approved a six-month extension for MD & CEO Prashant Kumar starting 6 October, as the bank initiates a search for his successor

RBI's breather on gold loans to spur growth in NBFCs: Crisil Ratings

RBI's revised gold loan norms to benefit NBFCs by raising LTV ceilings, providing better cushions for bullet loans and expanding lending headroom

India's forex reserves rise by $5.17 billion to $696.65 billion: RBI

India's forex reserves increased by USD 5.17 billion to USD 696.65 billion for the week ended June 6, the RBI said on Friday. The overall reserves had dropped by USD 1.237 billion to USD 691.485 billion for the week ended May 30. Forex reserves had touched an all-time high of USD 704.885 billion in end-September 2024. For the week ended June 6, foreign currency assets, a major component of the reserves, rose by USD 3.47 billion to USD 587.68 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 were up by USD 1.58 billion to USD 85.88 billion during the week, the RBI said. The Special Drawing Rights (SDRs) also rose by USD 102 million to USD 18.67 billion, the apex bank said. India's reserve position with the IMF also inched up by USD 14 million at USD 4.4 billion in the reporting we

RBI makes it easier to access, reactivate dormant accounts, deposits

Customers can update KYC through video, at any bank branch, or with the assistance of business correspondents

RBI makes KYC easier: Banks must send three reminders before account freeze

Banks must give written reminders before KYC deadline, says RBI

RBI skips 14-day main liquidity operation for third fortnight in a row

RBI holds back 14-day operation for third fortnight, despite ₹3-3.5 tn tax outflows expected, citing adequate liquidity and short-term rate stability

Five-year G-sec yield spikes 22 bps in 3 days on VRRR auction fears

Bond market spooked by fears of potential VRRR auction as 5-year G-sec sees steepest 3-day spike in yields since 2022, amid uncertainty on RBI's liquidity stance

RBI allows KYC updation for low-risk customers till 30 June 2026

Allows Business Correspondents to assist in KYC updation, reactivation of inoperative accounts under extended compliance timeline

Consumption funds: Rate cuts to boost growth, but enter with long horizon

Tax relief in Budget, multi-year low inflation, and rural recovery are other tailwinds

India Inc's ECB filings fell to $2.9 billion in April, shows RBI data

External commercial borrowings eased to $2.91 billion in April from $11.04 billion in March, with Shriram Finance and SMFG India among major ECB filers

RBI allows STRIPS trading for state government bonds to boost liquidity

STRIPS allow dealers to sell principal and interest payments independently, enhancing liquidity in the state government securities market by enabling distinct trading of these components

RBI skips 14-day main liquidity operation for third straight fortnight

Market participants had expected the RBI to conduct a 14-day variable rate repo auction on Friday on account of the upcoming tax outflows which are seen sucking out rupee funds from the banking system

RBI winds down offshore currency tool reflecting shift in strategy

Reduction in the offshore exposure accounts for most of the recent drop in the RBI's overall forward dollar positions