Page 90 - Rbi

RBI to meet private bank boards on November 18 to discuss governance

This will be 2nd meeting of its kind

RBI action on 4 NBFCs: Microfinance SRO makes a pitch for 4% cap on RoA

Issues advisory for reviewing pricing policy

RBI adds 13 more entities in 'alert list' of unauthorised forex trading

The Reserve Bank on Tuesday updated the 'Alert List' of unauthorised forex trading platforms by adding 13 more entities, including TDFX and Inefex, taking the total to 88. The Alert List contains names of entities which are neither authorised to deal in forex under the Foreign Exchange Management Act, 1999 (FEMA) nor authorised to operate electronic trading platform (ETP) for forex transactions under the Electronic Trading Platforms (Reserve Bank) Directions, 2018. Some entities in the list are Ranger Capital, TDFX, Inefex, YorkerFX, Growline, Think Markets, Smart Prop Trader, FundedNext, Weltrade, FreshForex, FX Road, DBG Markets, and Plusonetrade. RBI said the Alert List also contains names of entities/platforms/websites which appear to be promoting unauthorised entities/ETPs, including through advertisements of such unauthorised entities or claiming to be providing training/advisory services. This list is not exhaustive, it added. Further, an entity not appearing in the list sh

RBI move to slow down gold loan growth, lead to uptick in default: CRISIL

The Reserve Bank's recent notification asking financiers to review their gold loan practices can slow down loan growth in the near-term and lead to an uptick in asset quality stress, a domestic rating agency said on Tuesday. "Potentially, this could impact gold loan disbursements during the transition phase and curb growth in the business," the note by Crisil said. It can be noted that a few weeks ago, RBI had flagged certain irregular practices in loan against gold jewellery and asked lenders to comprehensively review their policies, processes and practices to identify gaps and initiate remedial measures in a time-bound manner. The notification had flagged deficiencies in the monitoring of the loan-to-value (LTV) ratio, asset classification norms for overdue loan accounts, and inadequate due-diligence in monitoring the end-use of gold loans. Reported loan delinquencies may see some uptick as entities revisit their current non-performing asset (NPA) recognition norms and/or policie

RBI's 'TReDS' platform bridging $600 bn funding gap for smaller firms

Trade Receivables Discounting System (TReDS) introduced about a decade ago by the Reserve Bank of India has seen the engineering company's cost of funds drop by 2.5 percentage points

Amid slackness, RBI report confident of festive season boost to economy

"Stage is set for the private sector to deploy capital and invest in growth"

Navi Finserv cancels Rs 100 cr bond issuance plan after RBI action

The central bank had last week barred the NBFC from sanctioning and disbursing additional loans for charging exorbitant interest rates

Reserve Bank of India net sold $6.5 billion in August, shows data

The central bank had recorded a net purchase of $6.93 billion in the spot market in July

Policy process: Currency-market intervention should be more selective

On monetary policy, Mr Das categorically noted that a rate cut would be premature and could be "very, very risky"

Net FDI in India more than doubles in Apr-Aug 2024, shows RBI data

Improving FDI to support growth in manufacturing

NRI deposits witness $7.82 billion inflows in April-August 2024: RBI data

The total outstanding NRI deposits as of August 2024 stood at $158.94 billion

Robust domestic engines supporting India's growth outlook: RBI Bulletin

India's growth outlook is supported by robust domestic engines and private investment showing some encouraging signs despite geopolitical tensions, the Reserve Bank's October Bulletin said on Monday. The global economy remained resilient in the first half of 2024, with declining inflation supporting household spending. Stable growth momentum amid monetary policy easing is becoming the prevailing theme across most economies, according to an article on 'State of the Economy' published in the Bulletin. "In spite of geopolitical tensions, India's growth outlook is supported by robust domestic engines," it said. It also noted that some high-frequency indicators have, however, shown a slackening of momentum in the second quarter of 2024-25, partly attributable to idiosyncratic factors like unusually heavy rains in August and September. "Looking ahead, private investment is showing some encouraging signs in terms of lead indicators while consumption spending is shaping up for a festival

RBI sold $6.49 billion in spot forex market in August, shows bulletin

The RBI said it purchased $16.14 billion and sold $22.64 billion in the spot forex market in August

Why has RBI again cautioned NBFCs not to cross regulatory redlines

The focus is on unsecured retail lending by shadow banks, according to experts

RBI walks the talk: NBFCs should cut usurious interest rates, high fees now

The NBFCs, which have been punished or are likely to be punished, should bring down the usurious interest rates, high fees and penalties without losing time

RBI lifts lending restrictions from JM Financial's non-banking unit

JM Financial's non-banking unit can now immediately offer loans against shares and debentures, according to a brief statement from the financial services group

Manappuram Finance's stock tumbles 14% on RBI action against subsidiary

According to the report, Asirvad contributes around 27 per cent to the consolidated assets under management (AUM) of Manappuram Finance

RBI lifts restrictions on JM Financial Products on financing against shares

JM Financial on Friday said the Reserve Bank of India has lifted restrictions imposed on its subsidiary JM Financial Products Ltd with regard to financing against shares and debentures. "We wish to inform you that the RBI, vide its letter dated October 18, 2024, has lifted the restrictions imposed by it on the company (JM Financial Products Ltd) through its order dated March 5, 2024," JM Financial said in a regulatory filing. With this communication, the company is permitted to provide, with immediate effect, the financing against shares and debentures in compliance with all applicable laws and regulations, it added. On March 5, the RBI barred JM Financial Products Ltd (JMFPL) from giving loans against shares and debentures, including sanction and disbursal of loans for initial public offering (IPO) of shares with immediate effect.

Rupee pegged back by higher US yields; hopes of RBI intervention counters

Choppy oil prices, foreign investors taking out money in lieu of the China stimulus, higher US yields and the dollar has pushed back the rupee by just 0.3 per cent month-to-date

RBI bars Navi Finserv, 3 other NBFCs from sanctioning and disbursing loans

Ban includes 2 micro lenders, comes into effect from October 21