Page 68 - Rbi

In month since the change of guard at RBI, rupee's volatility picks up

The dollar-rupee pair's 1-month daily realized volatility touched a near-six-month high late in December while implied volatility, a gauge of future expectations, rose to 3.5%

Supply chain platform KredX secures RBI's approval to launch TReDS platform

KredX's DTX is the fifth platform to receive the banking regulator's nod to operate TReDS

RBI announces names of winners of 3rd edition of Global Hackathon

The Reserve Bank on Tuesday announced the names of the winners of the third edition of its Global Hackathon with the themes 'Zero Financial Frauds' and 'Being Divyang Friendly'. The hackathon received an enthusiastic response with 534 proposals, of which 39 were received from teams outside India, including the United States, the United Kingdom, Hong Kong, Singapore, Brazil, Morocco, among others. The 28 finalists presented their solutions to an independent jury which selected the winners based on several parameters, including comprehensiveness, innovation, feasibility, scalability and compliance. The winners of the hackathon were FPL Technologies; Xaults Technologies; Epifi Technologies; NapID Cybersec; H Vision India (Hasin Vaidya); Rupya Darshini (Parthiban R, Jebaraj V and Gobika S); and VisAst (Krimisha Deore). Announcing the winners, RBI said these innovative solutions are expected to enhance the capability of the system to fight frauds, maintain security and integrity of the

RBI's new 15-day credit reporting rule: What it means for your credit score

Earlier, updates were only done on credit score every month, which would delay the effect of loan repayment as it happens.

RBI releases master direction on reporting of customers credit information

The RBI on Monday came out with a master direction consolidating various instructions issued to banks and other financial institutions on reporting of the credit information of their customers. As per the master direction, credit information companies (CICs) will have to send alerts through SMS/ email to customers when their Credit Information Report (CIR) is accessed by the specified users (SUs). "The alerts shall be sent by CICs only when the CIR enquiry reflects in the CIR of the customer," said the Master Direction Reserve Bank of India (Credit Information Reporting) Directions, 2025. Also, Credit Institutions (CIs), which include banks and Non-Banking Financial Companies (NBFCs), will have to inform customers the reasons for the rejection of their request for data correction, if any, to enable such customers to better understand the issues in the CIR. "Complainants shall be entitled to a compensation of Rs 100 per calendar day in case their complaint is not resolved within a

RBI added 8 tonnes gold to its reserves in November 2024: WGC report

Central banks around the world collectively, in November 2024, added 53 tonnes of gold to their reserves, of which the Reserve Bank of India's addition was 8 tonnes, the World Gold Council (WGC) said in a report on Monday. In 2024, central banks - mostly those from emerging markets - remained keen buyers of gold, driven by the need for a stable and secure asset amid global economic uncertainties. "Assessing the final act of 2024, central banks around the world continued to play a leading role in the demand for gold. November represented another solid month of gold buying as central banks collectively added a net 53 tonnes to global official holdings," WGC said in a report - Central bank gold statistics November 2024. The gold price dip in November, following the US election, may have provided some central banks with added impetus to accumulate, WGC said. WGC further noted that the Reserve Bank of India (RBI) continued with its 2024 buying streak, adding a further 8 tonnes to its go

RBI removes biz restrictions on Kolkata-based Arohan Financial Services

On October 17, the regulator directed four non-banking finance companies (NBFCs) to cease and desist from sanctioning and disbursing loans

RBI clears National, Cosmos Co-operative Bank merger, effective January 6

The branches of The National Co-operative Bank, Bangalore (Karnataka), will function as branches of Cosmos Co-operative Bank Limited (Maharashtra) with effect from January 6, 2025

RBI keeps interest rate on floating rate savings bonds unchanged at 8.05%

Interest rate on RBI floating rate savings bonds is not fixed and is adjusted twice a year

Bank holidays in January 2025: Check state-wise bank holiday complete list

January Bank Holidays 2025: Banks will remain shut for 13 days in January, including certain festivals, important celebrations and national holidays. Check the complete holiday list

Banks urge RBI to inject liquidity via foreign-exchange swaps amid crunch

The higher financing costs are posing a challenge for the RBI to support an economy that's witnessing a slowdown in manufacturing activities

Employment rate jumps 36% in past decade, seen at 643.3 mn: Mandaviya

Union labour minister Dr Mansukh Mandaviya on Thursday said employment in the country has increased by 36 per cent to 64.33 crore in 2023-24 from 47.15 crore in 2014-15, which shows improvement in job creation during NDA period. Talking to media persons, the minister also stated that employment under UPA grew by just about 7 per cent between 2004 to 2014. According to the RBI data quoted by the minister, employment increased from 44.23 crore in 2014 to 47.15 crore in 2023-24. He noted that under the UPA government between 2004 to 2014 just 2.9 crore additional jobs were created whereas under the Modi government between 2014-24, 17.19 crore jobs were added. In the last one year (2023-24) alone, the Modi government has created around 4.6 crore jobs in the country, the minister stated. The data assumes significance in the backdrop of pressure on the government for job creation in the country. About the agriculture sector, the minister stated that employment declined by 16 per cen

Credit growth to NBFCs declines to 7.8% in November, shows RBI data

Retail credit growth also slowed to 16.3% due to a decline in personal loans, credit card outstanding, and vehicle loans

98.12% of Rs 2,000 notes returned, Rs 6,691 cr worth still with public: RBI

The Reserve Bank on Wednesday said 98.12 per cent of the Rs 2000 banknotes have been returned to the banking system, and only Rs 6,691 crore worth such notes are still with the public. On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2000 denomination banknotes from circulation. The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, declined to Rs 6,691 crore at the close of business on December 31, 2024, RBI said. "Thus, 98.12 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned," it said in a statement. The facility for deposit and/or exchange of the Rs 2000 banknotes was available at all bank branches till October 7, 2023. However, this facility is still available at the 19 issue offices of the Reserve Bank. From October 9, 2023, the RBI issue offices are also accepting Rs 2000 banknotes from individuals and entities for deposit into their

RBI Guv Malhotra asks staff to emphasise customer centricity in NY message

The central bank is facing challenges on the currency front, which has been under pressure in the last few months

RBI likely fine-tuned forex market intervention by slowing dollar sales

By October-end, the RBI's net short position in the forward market stood at $49.2 billion, up significantly from $14.6 billion in September

RBI's Financial Stability Report flags rising NPAs, global economic risks

Indian banking sector stable, but global debt and economic volatility loom large

RBI lifts curbs on Mumbai-based Sangli Sahakari Bank after 2.5 years

The bank's DICGC liability was down to Rs 36.97 crore from Rs 49.33 crore in September 2024. The company improved its net worth to Rs 5.41 crore as budgeted

Confidence is high, outlook is bright: RBI Guv Malhotra on economy

But stress tests show GNPA ratio of banks may rise under baseline scenario

RBI flags risk to secured loans from slippages in smaller personal loans

The RBI noted that first defaults are predominantly observed in unsecured advances