Page 105 - Reserve Bank Of India

Govt to issue sovereign gold bonds tranche in December and February

The government will issue a tranche of sovereign gold bonds (SGBs) this month, and one more in February. The date for subscription for 2023-24 Series III is December 18-22, 2023, while for Series IV is scheduled for February 12-16, a finance ministry statement said Friday. The Series I was open for subscription during June 19-23 and Series II during September 11-15. The SGBs will be sold through scheduled commercial banks (except small finance banks, payment banks and regional rural banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, National Stock Exchange of India Limited and Bombay Stock Exchange Limited. Price of SGB will be fixed in Indian rupees on the basis of simple average of closing price of gold of 999 purity, published by the India Bullion and Jewellers Association Limited (IBJA) for the last three working days of the week preceding the subscription period. The issue price of the SGBs will b

Master Direction part of Initiative for forex market risk management: Das

India's foreign reserves rise by $6 billion

UPI payment limit to hospitals, educational institutes raised to Rs 5 lakh

The hospital and education industry have cheered the regulator's move on hiking the transaction limit on UPI

Address me just as governor, drop honourable prefix, says Shaktikanta Das

RBI Governor Shaktikanta Das on Friday requested a junior to address him without the honourable prefix, and call him just as Governor instead. I think in future, just 'Governor' will be better than 'honourable Governor', Das told a RBI staff member at a press conference here. The remarks from the career bureaucrat-turned-central banker come a day after Prime Minister Narendra Modi requested all to desist from addressing him with the Ji suffix. Das, who will soon be completing five years in office, is currently serving a second term in office as the RBI Governor. Das' deft handling of the institution has been widely appreciated and he was also ranked the best central banker by a reputed publication recently.

RBI raises limit of e-Mandates for recurring online transactions to 1 lakh

The move is believed to further encourage transactions through the digital payment channels in the country

RBI to come up with unified regulatory framework on connected lending

The central bank believes that the decision to set up a regulatory body will strengthen the pricing and risk management of credit by these entities

RBI's prolonged pause on repo rate favourable for corporate sector: Experts

The RBI expectedly left its key lending rates unchanged for the fifth consecutive time and predicted faster growth in the world's fastest-growing major economy

RBI MPC meet highlights: Inflation is our top priority, says Guv Das

RBI monetary policy: The RBI also decided to maintain its policy stance at "withdrawal of accommodation"

No plans to loosen rates, inflation top priority: RBI Guv Shaktikanta Das

Reserve Bank Governor Shaktikanta Das on Friday said there is no plan to loosen interest rates as inflation continues to be the top priority for the central bank. Speaking to reporters at the central bank headquarters here, Das clarified that the inclusion of over tightening in his statement while announcing the fifth consecutive status quo in rates, should not be construed as anything else. A "loosening" in rates is not on the table, Das added. Making it clear that inflation is the top priority for the central bank, Das said a few months of satisfactory data -- the headline number dropped to 4.87 per cent in October -- should not lead to any complacency and added that we have a long way to cover on inflation management. Deputy Governor Michael Patra said looking at the economic growth in the first half and the high-frequency data for October and November, the upward revision in FY24 GDP growth rate at 7 per cent is a conservative estimate. The Governor said it is very difficult t

RBI hikes UPI limit for hospital, educational payments: What does it mean?

RBI MPC: In another key announcement related to digital payments, Governor Shaktikanta Das proposed to hike the e-mandate for recurring payments to Rs 1 lakh from the current Rs 15,000

RBI to establish cloud facility for financial sector to secure data privacy

Focusing on digital banking, the RBI announced a regulatory framework for web-aggregation of loan products and proposed the establishment of a fintech repository by April 2024

RBI monetary policy: 5 key announcements from the governor's speech today

RBI monetary policy: Central bank raised the UPI payment limits for hospitals and educational institutions to Rs 5 lakh from Rs 1 lakh per transaction

RBI monetary policy announcement: When, where to watch and what to expect?

RBI MPC meeting: The meeting of the six-member committee started on December 6 in Mumbai and will end with the announcement of Governor Shaktikanta Das on December 8

RBI to regulate entities facilitating cross-border payment transactions

The Reserve Bank on Thursday brought all entities facilitating cross-border payment transactions for the import and export of goods and services under its direct regulation. RBI has decided to regulate entities facilitating payment and settlement for online cross border export / import transactions as Payment Aggregators Cross Border (PA-CB) under the Payment and Settlement Systems Act, the central bank said in a circular. "Keeping in view the developments that have taken place in the area of cross-border payments, it has been decided to bring all entities facilitating cross-border payment transactions for import and export of goods and services under direct regulation of the RBI," it said. Such entities will be treated as Payment Aggregator-Cross Border (PA-CB), the RBI said. According to the circular, non-banks providing PA-CB services should have a minimum networth of Rs 15 crore at the time of submitting application to the RBI for authorisation and a minimum networth of Rs 25

Safety, a cost and an opportunity

If safety standards are raised carefully, not only will the public become safer, but the GDP can also grow a little faster

Govt bond yields dip marginally tracking US peers, RBI policy stays key

The Reserve Bank of India (RBI) is expected to hold rates at 6.50% for a fifth consecutive meeting at its monetary policy meeting on Friday, according to a Reuters poll

RBI's MPC meet begins amid expectations of status quo on interest rate

The RBI's high-powered rate setting panel on Wednesday began its 3-day brainstorming on the next set of bi-monthly monetary policy amid expectation of continued pause on the short-term key lending rate as GDP growth is gaining momentum, and inflation manageable. RBI left the benchmark policy rate (repo) unchanged in its past four bi-monthly monetary policies. It had last increased the repo rate in February to 6.5 per cent, thus ending the interest rate hike cycle which began in May 2022 in the aftermath of Russia-Ukraine war and subsequent disruptions in the global supply chain resulting in high inflation in the country. RBI Governor Shaktikanta Das would unveil the decision of the six-member MPC (Monetary Policy Committee) on December 8. On expectations from the MPC, Aditi Nayar, Chief Economist at ICRA said with the GDP data for the second quarter of 2023-24 appreciably higher than the MPC's last forecast, and continuing concerns on various aspects of food inflation, "we expect th

Peer-to-peer (P2P) lending: What is it, and who regulates it in India?

Peer-to-peer (P2P) lending is the practice of lending money to individuals or businesses through online services that match lenders with borrowers

Murky use of private credit funds may invite harsh regulatory scrutiny

Investors who pooled money were issued senior securities, earning them interest

ESMA in 'active' talks with RBI to resolve Clearing Corporation impasse

After the global financial crisis of 2008, the European Union in 2012 had adopted new market infrastructure regulations in order to strengthen and safeguard systems