Page 114 - Reserve Bank Of India

MFs hungry for bigger slice of banking pie amid growing investor inflows

Seek to exceed RBI's 5% ownership threshold

RBI likely to keep interest rate unchanged as inflation still high: Experts

The Reserve Bank is likely to maintain status quo on policy rates for the fourth time in a row at its bi-monthly monetary policy review meeting early next month, as retail inflation continues to remain high and the US Federal Reserve has decided to keep a hawkish stance for some more time, according to experts. The Reserve Bank had raised the benchmark repo rate to 6.5 per cent on February 8, 2023 and since then it has retained the rates at the same level in view of the stubbornly high retail inflation and certain global factors including elevated crude oil prices in the international market. The Reserve Bank Governor-headed six-member Monetary Policy Committee (MPC) meeting is scheduled for October 4-6, 2023. The last meeting of the MPC, the highest rating-setting panel, was in August. "We do expect the RBI to hold on to a status quo position this time as inflation is still high and liquidity tight. In fact, going by RBI forecast on inflation, it would be above 5 per cent in Q3 too

India to become $5 trillion economy, third-largest by 2027: RBI DG Patra

India will be a USD 5 trillion economy and the third largest in the world by market exchange rates by 2027, aided by the demographic advantage and pace of financial sector development, Reserve Bank Deputy Governor Michael D Patra has said. Delivering a speech at the 16th SEACEN-BIS High-Level Seminar hosted by the National Bank of Cambodia on Monday, Patra said it is widely believed that during the next two decades -- if not for longer -- the centre of gravity of the global economy will shift eastward to Asia. The IMF's Regional Economic Outlook for Asia and the Pacific indicates that this region will contribute about two-thirds of global growth in 2023 itself and India will account for a sixth of world output growth in 2023 and 2024, he said. In terms of market exchange rates, he said India is the fifth-largest economy in the world and the third-largest economy on the basis of purchasing power parity. "Our assessment is that by 2027, India will be a USD 5 trillion economy and the

Rupee and govt bond end steady despite rise in US Treasury yields

The rupee settled at Rs. 83.09 a dollar on Thursday, against Rs. 83.08 per dollar on Wednesday

RBI proposes lenders identify 'wilful defaulters' within six months

The regulator proposed that non-banking finance companies (NBFCs) should also be allowed to tag accounts using the same parameters

RBI can spend $30 bn of forex reserves for defending rupee: Report

The rupee rose by 5 paise to close at 83.06 against the dollar at the end of the day's trade on Thursday

RBI infuses liquidity as banking system faces highest deficit since 2020

Market analysts predict that the disbursement of Rs 25,000 crore as the second tranche of Incremental Cash Reserve Ratio (I-CRR) will be insufficient to ease liquidity strains

Mutual funds attract 6% of household savings in FY23, shows RBI data

Fiscal sees a record Rs 1.8 trillion net inflows from households

Attractive returns see retail investors prefer T-bills over govt bonds

Total subscriptions in the primary market surged to Rs 2,736 crore on September 18, from Rs 1,809 crore on April 3

Equity FDI into India declines sharply to $5.7 bn in April-July period

The net FDI, inflows minus outflows, declined from $17.28 billion in April-July 2022 to $5.70 billion in April-July 2023 on account of moderating gross FDI and a rise in repatriation

At 1.8 million, 5% Canadians have the Indian heritage: Census data

The total number of people of ethnic Indian origin in Canada was 1.8 million at the time of the last census in 2021

Sashidhar Jagdishan re-appointed as HDFC Bank MD & CEO for next three years

In March 2023, HDFC Bank board had recommended the re-appointment of Jagdishan for a period of three years

RBI okays re-appointment of Sashidhar Jagdishan as CEO of HDFC Bank

Sashidhar Jagdishan has been re-appointed for three years, commencing on from October 27 to October 26, 2026

Are private sector executives better than bureaucrats for regulators' job?

Former RBI Governor Bimal Jalan said it is better if the person's expertise is considered than whether he/she is a bureaucrat or a private sector executive

Old pension scheme 4.5 times more costly than the existing NPS: RBI Study

The RBI report comes at a time when five states - Rajasthan, Chhattisgarh, Jharkhand, Punjab, and Himachal Pradesh have announced their return to the OPS for government employees

Advance tax payments push the banking system liquidity into deficit

"The estimates are that around Rs 90,000 crore to Rs 1 trillion will go out as goods and services tax (GST) outflow," a dealer at a primary dealership said

States reverting to OPS poses significant fiscal risks: RBI paper

However, the RBI clarified that the views expressed in the article are "those of the authors" and do not necessarily represent the views of the central bank

Reserve Bank of India net-purchased $3.5 bn foreign currency in July

The rupee depreciated by 0.3 per cent in July. In June, the RBI had recorded a net purchase of $4.5 billion in the spot market

Rearview mirror investing can be perilous in floating-rate funds

Investors should opt for them when rates are expected to climb, not now when they are largely over

Statsguru: Attracting foreign direct investment will need more effort

Attempts to encourage more companies to manufacture in India for the rest of the world may be bearing some fruit