Page 79 - Rbi

Malhotra chairs his first RBI board meet; acknowledges Das' contributions

The central board of directors of the RBI reviewed the global and domestic economic situation and outlook and discussed the activities of select central office departments

Need to guard against risks of currency appreciation: RBI MPC member Kumar

Says expanding the manufacturing sector could also help in containing inflationary pressures by enhancing the supply capacity

India's foreign exchange reserves decline by $1.9 bn to almost 6 month low

The reserves stood at $655 billion in the week ended December 6, having declined by $3.2 billion during that week

RBI imposes fine on Manappuram Finance, IndusInd Bank over non-compliance

The statutory inspection of the companies was conducted by the RBI with reference to their financial position as of March 31, 2023

Rupee breaches critical mark, Reliance Capital acquisition, and CoD issuances surge

This week, the rupee crossed the critical 85-per-dollar mark after the US Federal Reserve signaled a cautious stance on interest rate cuts.

MPC minutes: External members back rate cut, say inflation hampering growth

They also support a rate cut to avoid the risk of sharp currency appreciation if India does not normalise interest rates when most other global central banks have already embarked on an easing cycle

States' freebies crowd out resources needed for development: RBI report

A Reserve Bank report on Thursday sounded a note of caution saying sops like farm loan waiver, free power and transport, by states could crowd out their critical resources for social and economic infrastructure. The RBI's 'State Finances: A Study of Budgets of 2024-25', however, said state governments have made commendable progress towards fiscal consolidation by containing their aggregate gross fiscal deficit within 3 per cent of GDP for three consecutive years (2021-22 to 2023-24), while restricting revenue deficit at 0.2 per cent of the GDP in 2022-23 and 2023-24. "This has allowed states to scale up their capital spending and improve the quality of expenditure," the report said. It further said several states have announced sops pertaining to farm loan waiver, free electricity to agriculture and households, free transport, allowances to unemployed youth and monetary assistance to women in their Budget for 2024-25. "Such spending could crowd out the resources available with them

Rupee falls past 85/USD to all-time low after hawkish US Fed outlook

The last time the local unit traded below the 83 mark against the US dollar was on December 18 last year, when it hit 82.19 during intraday deals

Edelweiss Financial rises 3% as RBI lifts ban on two Edelweiss Group cos

The initial uptick in Edelweiss Financial Services share came after the RBI, with immediate effect, lifted the restrictions imposed on ECL Finance, and Edelweiss ARC

RBI lifts restrictions on ECL Finance, Edelweiss ARC after compliance

RBI, in May this year, imposed business restrictions on ECL Finance and Edelweiss ARC

Strive for perfection in performing critical roles, RBI Guv to colleagues

Malhotra to follow an open door policy and remain accessible to everyone at RBI

Support realisation of 'Viksit Bharat' goal: RBI Guv asks colleagues

Reserve Bank Governor Sanjay Malhotra on Monday exhorted colleagues to "strive for perfection" and support the realisation of the Viksit Bharat vision. The career bureaucrat appointed to lead the central bank "reassured" staffers that the RBI, an "august institution", is his "family" now. "I exhort you to strive for perfection in performing our critical roles as we enter Amrit Kaal and support in the realisation of our vision of a Viksit Bharat," Malhotra, who took charge as the RBI Governor last Thursday, said in a message to staff. Malhotra, who faces a slew of challenges, including the unsettling of the inflation-growth balance and the continuous pressure on the rupee, said, "Continuous improvements and kaizens (improvement)" are essential for any organisation to excel. "I hope you will continue to put your best foot forward and not only maintain but also improve the high standards already set," he added. RBI employees must uphold the critical values of public service, includin

Domestic, global headwinds challenge RBI's forex intervention efforts

India's forex reserves are at a five-month low after the RBI sold $38 billion, per IDFC FIRST Bank's estimate, between October and the first week of December

RBI raises collateral-free agricultural loan limit to Rs 2L to aid farmers

The Reserve Bank of India (RBI) has enhanced the collateral-free loan limit for farmers from Rs 1.6 lakh to Rs 2 lakh, effective January 1, 2025, a move aimed at supporting small and marginal farmers amid rising input costs. The new directive instructs banks nationwide to waive collateral and margin requirements for agricultural and allied activity loans up to Rs 2 lakh per borrower. According to the agriculture ministry, the decision comes in response to the rising input costs and the need to improve credit accessibility for farmers. "This measure will significantly benefit over 86 per cent of farmers who are small and marginal landholders," the statement said. Banks have been instructed to implement the guidelines swiftly and ensure widespread awareness about the new loan provisions. The move is expected to facilitate easier access to Kisan Credit Card (KCC) loans and complement the government's Modified Interest Subvention Scheme, which offers loans up to Rs 3 lakh at a 4 per ce

Leadership change at RBI, PM launches Bima Sakhi Yojana and more

Former revenue secretary, Sanjay Malhotra has succeeded Shaktikanta Das as RBI governor. His tenure begins as retail inflation eased to 5.48 per cent in November

RBI receives bomb threat in Russian email; Mumbai Police launch probe

The Reserve Bank of India (RBI) received a bomb threat email in Russian, targeting Governor Sanjay Malhotra's official ID; Mumbai Police have launched an investigation

Bomb threats in Delhi schools again; RBI receives threat in Russian language

Delhi schools have once again received bomb threats, marking it the second such incident within a week's time. The RBI too has received a threat on its official website with a message in Russian.

Russia's aerial attack on Ukraine, Allu Arjun's arrest, bomb threats, and more...

Russia launched a major aerial attack on Ukraine, firing 93 missiles and nearly 200 drones. Ukraine President Zelenskyy called it one of the heaviest assaults since the invasion began.

JP Morgan-backed ISG secures RBI approval to operate as payment aggregator

JP-Morgan-backed fintech company In-Solutions Global (ISG) has secured full authorisation as a payment aggregator under the Reserve Bank of India's regulatory framework. The approval further empowers ISG to streamline digital payments for merchants across various sectors, ensuring fast, secure, and reliable transactions while advancing financial inclusion, the fintech said in a release. The company currently processes over 28 billion transactions annually, serving more than 70 per cent of banks in India. Adelia Castelino, Managing Director, said: "It strengthens our position as a trusted partner, enabling us to power enterprises and SMBs with cutting-edge, scalable payment solutions." The company further said the licence complements ISG's growing portfolio, including its prepaid payment instrument (PPI) licence, enabling it to offer an integrated suite of payment solutions spanning online platforms, retail transactions, transit payments, and more. "This regulatory approval positio

RBI has a tough balancing act to do: Ficci's Harsha Vardhan Agarwal

Agarwal expresses confidence of pick up in private capex and opportunities arising out of US president-elect Donald Trump's tariff war