Most of the $32 billion raised so far has come from the foreign currency non-resident deposit scheme, Malhotra said
Despite tech investment, rising complexity in frauds exposes governance gaps and digital vulnerabilities. There is an urgent need for stronger oversight
CareEdge Ratings says fresh loan rates fell faster than outstanding rates in FY26, with education, MSME, trade, large industry and housing leading the broad decline
Indian banks are preparing dollar bond issuances before the RBI's concessional swap window closes in December, seeking cheaper overseas funding options
The buyback will cover four government securities maturing in 2026 and 2027 as the Centre seeks to smooth its redemption profile and manage debt more efficiently
Liquidity surplus narrowed to ₹2,884 crore as credit growth outpaced deposits, though FCNR(B) inflows are expected to improve system liquidity in the coming weeks
Reserve Bank of India said the economy remains resilient, supported by healthy demand and strong industrial and services activity, while warning that the Iran war and a deficient monsoon pose risks
The rupee rose 5 paise to 96.48 against the US dollar in early trade on Thursday on possible intervention by the Reserve Bank even as heightened tensions in West Asia maintained pressure on global crude oil prices. FII outflows and sustained negative sentiments in the domestic equity markets added pressure on the local unit, while a weaker greenback provided some respite, forex traders said. At the interbank foreign exchange, the rupee opened at 96.53 before inching up to 96.48, up 5 paise from its previous close. The rupee depreciated by 28 paise to close at 96.53 against the US dollar on Wednesday. "State-owned banks were seen selling dollars -- widely viewed as intervention on behalf of the RBI -- around the 96.50 level, preventing a steeper depreciation but the closure remained lower for the rupee on Wednesday. Rupee remains near its all-time closing low and if oil prices keep rising we may see it crossing this level, too," Anil Kumar Bhansali, Head of Treasury and Executive ..
The central bank said resilient domestic activity, improving trade momentum and stronger foreign investment inflows point to a favourable outlook for the Indian economy
Higher overseas investments and deposit-related remittances lifted outward LRS flows in May, although spending on travel and overseas education declined
The moderation was driven by weaker inflows into NRE and FCNR(B) accounts, though recent RBI measures have triggered a sharp rise in fresh FCNR(B) deposits
The central bank remained a net seller of dollars in May to curb rupee volatility amid higher crude oil prices, though interventions eased from April levels
Foreign banks have exhibited the strongest transmission of the Reserve Bank of India's policy easing during the current rate-cut cycle, lowering both lending and deposit rates more sharply than their public and private sector peers, according to the RBI's bulletin. In its monthly bulletin released on Wednesday, the RBI said that during the easing cycle between February 2025 and May 2026, scheduled commercial banks (SCBs) reduced repo-linked external benchmark-based lending rates (EBLR) and marginal cost of funds-based lending rates (MCLR), with pass-through to fresh lending rates remaining particularly strong in infrastructure and other EBLR-mandated sectors. The bulletin showed that foreign banks cut weighted average lending rates (WALR) on fresh rupee loans by 1.24 percentage point, compared with 1.08 percentage point by private banks and 0.66 per cent by public sector banks. For outstanding rupee loans, foreign banks again led transmission with a 1.20 percentage point reduction,
The RBI's package of measures aimed at supporting the rupee attracted more than $20 bn as of July 17, with more than four-fifths coming from foreign currency non-resident deposits mobilised by banks
Regulator proposes greater operational flexibility
Foreign banks appear to have driven the early success of the RBI's swap scheme, say experts
Finance Minister Nirmala Sitharaman on Tuesday said the rupee's value against the US dollar is market-determined and there is no target or specific band for the domestic currency. "The government closely tracks the trends in key economic parameters, including exchange rate movements, along with their implications for economic growth and fiscal stability. These issues are discussed at various fora at various levels of the government," she said in a written reply in the Rajya Sabha. On Tuesday, the rupee pared initial losses and settled 12 paise higher at 96.24 (provisional). Traders attribute the recovery to RBI's intervention. Sitharaman said the value of the rupee is market-determined, with no target or specific level or band, and RBI regularly monitors the foreign exchange market and intervenes in situations of excess volatility. Further, the RBI monitors key developments across the globe which may have an impact on the USD-INR exchange rate, she said. Various measures have been
In its first update since the scheme was launched in early June, the Reserve Bank of India said the measures had mobilised $20.72 billion through July 17
The fintech company is looking to revive its wallet business with a fresh PPI licence application, following the RBI's cancellation of Paytm Payments Bank's licence
Seshadri said as the bank is not offering leverage, their proposition is attractive to smaller depositors and customers in geographies where leveraged products do not enjoy tax advantage