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Best of BS Opinion: How policy moves can trigger a cascading effect

Our editorials and columns look at the consequences of policy actions, and how they can have far-reaching impacts

MPC should wait and watch as global risks complicate rate decisions

Global uncertainty demands caution on monetary policy

All eyes on RBI Governor Sanjay Malhotra as MPC meeting begins on Wednesday

Malhotra took charge as the 26th RBI governor in December last year

Will actively manage cash needs amid tight liquidity, says Ajay Seth

The government on Saturday projected a slightly higher-than-expected 14.82 trillion rupees ($171 billion) of bond sales in its budget

RBI may purchase Rs 2 trn of bonds in FY26, says DBS Bank's Vaidya

The Reserve Bank of India last week resumed bond purchase auctions after a gap of more than three years and plans to buy more in the coming weeks

RBI's forex forward book climbed to near 4-year high on rupee angst

RBI buys or sells dollars in the FX forward market when it does not want its spot intervention to affect domestic liquidity and/or to maintain headline forex reserves

RBI curating the liquidity landscape for a potential rate cut this year

As the RBI takes steps to address both short-term and durable liquidity concerns, the focus now shifts to whether these measures can create the right conditions for rate cut transmission

Bond market overlooks Budget, eyes rate cuts to offset higher borrowings

Despite the doubling in the government's debt sales since the pandemic, robust demand from long-term investors, like pension funds and insurance companies, has helped absorb supply

Budget 2025: Fiscal consolidation efforts may pull govt bond yields down

RBI's six-member rate setting panel will announce the review of the policy on Friday, 7 February

50:50 chance: Will RBI cut rates, infuse liquidity amid currency pressure?

It can, if it is convinced that the adjustment in the rupee valuation has already been done and the local currency has found its own level

Govt projects dividend income of Rs 2.56 trn from RBI, PSBs in FY26

The government on Saturday projected a dividend income of Rs 2.56 lakh crore from the Reserve Bank and public sector financial institutions in FY2025-25, as per the Budget documents. In the current financial year, receipts from dividend/surplus of RBI, nationalised banks and financial institutions are estimated at Rs 2.34 lakh crore, about Rs 1,410 crore higher than the previous estimates. The documents stated that the total central government's receipts from 'dividends from public sector enterprises and other investments' would be Rs 3.25 lakh crore, up from Rs 2.89 lakh crore. In her Budget speech, Finance Minister Nirmala Sitharaman said the total receipts other than borrowings and the total expenditure are estimated at Rs 34.96 lakh crore and Rs 50.65 lakh crore, respectively. The net tax receipts are estimated at Rs 28.37 lakh crore. The Centre's fiscal deficit is estimated at 4.4 per cent of GDP during the next financial year. To finance the fiscal deficit, the net market .

RBI partially devolves 10-yr green bond; $/rupee swap attracts 5 times bids

The RBI accepted Rs 1,054 crore worth of green bonds at the auction, against the notified amount of Rs 5,000 crore

RBI fines Equitas SFB, India Post Payments Bank for compliance lapses

The Reserve Bank of India (RBI) on Friday said it has imposed penalties on Equitas Small Finance Bank and India Post Payments Bank for deficiencies in regulatory compliances. In a statement, the RBI said it has imposed a penalty of Rs 65 lakh on Equitas Small Finance Bank for non-compliance with certain directions on 'Levy of Foreclosure Charges/Pre-payment Penalty on Floating Rate Term Loans' and 'Credit Flow to Agriculture -- Collateral free agricultural loans'. A penalty of Rs 26.70 lakh has been imposed on India Post Payments Bank Ltd for non-compliance with certain directions on 'Customer Service in Banks', it said in another statement. Further, a penalty of Rs 3.10 lakh has also been imposed on Aptus Finance India Pvt Ltd for contravention of certain provisions of norms related to non-banking financial company. In each of the three cases, the RBI said the penalties are based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any

IRDAI Caps Premiums, RBI Takes Over, Economists Want Liquidity, RBI Warns Fraud & Unions Seek Exemption

IRDAI limits premium hikes for senior citizens RBI takes over Aviom India Housing Finance Economists advocate for more liquidity, not just rate cuts RBI Governor flags digital fraud concerns

Credit growth moderates in personal loan segment in Dec: RBI data

Bank credit to personal loan segment moderated to 14.9 per cent year-on-year in December, largely due to decline in growth in 'other personal loans', 'vehicle loans' and 'credit card outstanding', according to Reserve Bank data released on Friday. The RBI has released data on sectoral deployment of bank credit for December 2024 collected from 41 select commercial banks, accounting for about 95 per cent of the total non-food credit deployed by all commercial banks. On a year-on-year (y-o-y) basis, growth in non-food bank credit as on the fortnight ended December 27, 2024 moderated to 12.4 per cent as compared to 15.8 per cent for the corresponding fortnight of the previous year. According to the data, bank credit to agriculture and allied activities registered a growth of 12.5 per cent (y-o-y) as on the fortnight ended December 27, 2024 (19.4 per cent for the corresponding fortnight of the previous year). Further, credit growth to industry remained almost flat at 7.4 per cent ...

Forex reserves increase $5.57 billion to $629.55 billion, shows data

India's forex reserves increased USD 5.574 billion to USD 629.557 billion in the week ended January 24, the Reserve Bank said on Friday. In the previous reporting week, the overall kitty had dropped USD 1.888 billion to USD 623.983 billion. The reserves have been on a declining trend for the last few weeks, and the drop has been attributed to revaluation, along with forex market interventions by the Reserve Bank of India (RBI) to help reduce volatilities in the rupee. The forex reserves had increased to an all-time high of USD 704.885 billion in end-September. For the week ended January 24, foreign currency assets, a major component of the reserves, increased USD 4.758 billion to USD 537.891 billion, as per the RBI data. 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. Gold reserves increased USD 704 million to USD 69.651 billion during the

Economic Survey 2025 suggests deregulation as a trigger for higher growth

We broadly concur with the Survey's assessment of a pick-up in rural demand on the back of improved crop output, disinflation, and an uptick in domestic investment activity

RBI injects $5.1 billion liquidity through oversubscribed FX swap auction

The RBI accepted 28 bids, totaling $5.1 billion, in the auction and the premium cut-off was set at 96.81 paisa, slightly below the prevailing market level before the auction results were announced

Markets Today: Economic Survey, US GDP; Nestle, ONGC, Q3; Dr. Agarwal's IPO

Back home, at 6:40 AM, GIFT Nifty futures indicated a strong start, up 71 points at 23,489

Brace for change: A key development on the anvil is the green taxonomy

The central bank is in the process of finalising and issuing a guidance note on scenario analysis and stress testing of climate-related risks