Page 106 - Reserve Bank Of India

Rupee settles at record closing low of 83.39 against the US dollar

The Dollar Index, which measures the strength of the greenback against a basket of six major currencies, rose to 103.65, against 103.31 on Monday

Wait and watch

Food prices will remain a risk for the MPC

Growth momentum continues, but private consumption and capex weak

Momentum may not sustain into next year; policymakers should stay vigilant and build buffers

MPC likely to hold repo rate for fifth time in a row, shows BS poll

Likely to revise FY24 growth forecast upward

India's services exports rise 10.8% to $28.03 bn in Oct, imports fall 0.4%

Data released by the government last month showed services exports in October were $28.70 billion, while imports were $14.32 billion

RBI, Bank of England sign agreement to exchange information on CCIL

The MoU also demonstrates the importance of cross-border cooperation to facilitate international clearing activities and the BoE's commitment to deference to other regulators' regimes

97.26% Rs 2000 banknotes returned to RBI; circulation down to Rs 9,760 cr

In May the circulation of the Rs 2,000 banknote amounted to Rs 3.56 trillion, this has now gone to Rs 9,760 cr as of November 30

Bank holidays in December: Banks to remain closed for 18 days; check list

Bank Holidays in December 2023: Banks in India will remain closed for 18 days next month

Bank credit to industry decelerates to 5.4% in October, reveals RBI data

Bank credit to industry decelerated to 5.4 per cent in October compared to 13.5 per cent in the year-ago month, according to Reserve Bank data released on Thursday. The data also revealed that credit growth to agriculture and allied activities improved to 17.5 per cent (year-on-year) in October 2023 from 13.8 per cent a year ago. Among major industries, credit growth (year-on-year) to basic metal & metal products, food processing and textiles accelerated in October 2023, while that to all engineering, chemicals and chemical products and infrastructure decelerated. Advances to the services sector grew by 20.1 per cent (y-o-y) in October 2023 compared to 22.5 per cent a year ago, with non-banking financial companies (NBFCs) and trade being the major contributors. Further, personal loan growth decelerated to 18 per cent annually in October 2023 against 20.5 per cent a year ago. On a year-on-year basis, non-food bank credit2 registered a growth of 15.3 per cent in October 2023 ...

Momentum continues

Low nominal growth can pose challenges

All-India House Price Index moderates to 3.4% in Q2FY24: RBI data

The all-India House Price Index (HPI) moderated to 3.4 per cent in the July-September quarter of 2023-24 from 4.5 per cent in the year-ago period, according to data released by the Reserve Bank of India on Thursday. The RBI releases HPI-based on transaction-level data received from the registration authorities in 10 major cities. The cities are Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai. "All-India HPI growth (year-on-year) moderated to 3.4 per cent in Q2:2023-24 from 5.1 per cent in the previous quarter and 4.5 per cent a year ago; annual growth in HPI varied widely across the cities - ranging from the high growth of 6.5 per cent (Chennai) to a contraction of 0.2 per cent (Jaipur)," the central bank said. On a sequential (quarter-on-quarter) basis, all-India HPI contracted by 1.2 per cent in the second quarter of 2023-24; seven of the 10 cities witnessed price increase in housing registration during the latest quarter.

RBI imposes penalty on HDFC Bank, Bank of America for violating FEMA norms

RBI fined HDFC Bank, a leading private sector bank, for accepting deposits from non-residents and flouting RBI's directions under the Liberalised Remittance Scheme of FEMA, 1999

Monetary Policy Committee may have underestimated economic growth for Q2

Most economists peg it higher than 6.5%, numbers to come today

Not for everyday transactions, but cash still store of value: RBI report

Currency in circulation up despite rise of digital transactions

RBI in discussions with US, Hong Kong, Swift on digital bank payments

Current practices involve routing funds through banks using the Swift platform. CBDCs could enable direct settlements between parties, offering advantages such as speed and cost-efficiency

FPIs' Rs 12,399 crore bet on debt this month highest in over 2 years

Foreign inflows of Rs 47,105 crore into debt in CY23 at 6-year high

RBI likely to keep rates on hold for entire 2024, says Kaustubh Gupta

We believe US rates have peaked, and the US Federal Reserve can start easing in the second half of 2024. However, the same cannot be said for Indian policy responses

RBI slaps penalty on Citibank, Bank of Baroda, IOB for violating norms

On Bank of Baroda, RBI said the lender failed to ensure accuracy and integrity of data on large exposures submitted to RBI with respect to some accounts

Reserve Bank adds 19 unauthorised forex trading platforms in 'Alert List'

The Reserve Bank on Friday updated the 'Alert List' of unauthorised forex trading platforms by adding 19 more entities, including FX SmartBull, Just Markets, and GoDo FX, taking the total to 75. The Alert List contains the names of entities, which are neither authorised to deal in forex under the Foreign Exchange Management Act, 1999 (FEMA) nor to operate electronic trading platform (ETP) for forex transactions under the Electronic Trading Platforms (Reserve Bank) Directions, 2018. The other entities added to the list are Admiral Market, BlackBull, Easy Markets, Enclave FX, Finowiz Fintech, FX SmartBull, Fx Tray Market, Forex4you, Growing Capital Services, and HF Markets. Other platforms are HYCM Capital Markets, JGCFX, PU Prime, Real Gold Capital, TNFX, Ya Markets, and Gate Trade. In a statement, the Reserve Bank said the Alert List also contains names of entities/platforms/websites which appear to be promoting unauthorised entities. "The list is not exhaustive," it said and adde

IndusInd Bank to allow CNG bill payments through CBDC in Delhi-NCR

The users will also be allowed to scan any UPI QR using their digital Rupee app across all IGL stations in the region