Page 134 - Reserve Bank Of India

Unprecedented spike in inflation spurs calls for urgent data revision

Consumer prices rose 6.44% in February, breaching the Reserve Bank of India's target ceiling

How to set up a family office abroad? More wealthy Indians want to know

For Indians, Dubai and Singapore are popular destinations. Significantly, Singapore recently opened an agency to welcome family wealth management firms

Gold ETFs record Rs 165 crore inflow in February; net AUM drops

After witnessing the withdrawal of funds in the last three months, Gold exchange-traded funds (ETFs) attracted a net flow of Rs 165 crore in February, mainly due to a slight correction in local yellow metal prices. This was in comparison to a net outflow of Rs 199 crore registered in January, Rs 273 crore in December and Rs 195 crore in November. Prior to that, Gold ETFs attracted Rs 147 crore in October, data from the Association of Mutual Funds in India (Amfi) showed. "Despite witnessing outflows across most markets, Gold ETFs in India witnessed inflows in February. This was largely backed by a small correction in local Gold prices. The demand for ETFs largely arises when there is a correction in prices," Kavitha Krishnan, Senior Analyst Manager Research, Morningstar India, said. The demand for physical Gold in India is largely driven by festival and wedding season, she added. Also, the segment saw an increase in the number of folios by around 20,000 to 46.94 lakh during the pe

A good night's sleep for both banks and Reserve Bank

Believe it or not, the regulator is even stretching its arm to identify stressed borrowers and gauge the "distance to default" as a measure of a particular bank's fragility

Bank of Maharashtra cuts home loan rate to 8.4% from existing 8.6%

State-owned Bank of Maharashtra (BoM) on Sunday announced a reduction in the interest rate on home loans to 8.4 per cent from the existing 8.6 per cent. The new rate is effective from March 13, 2023, BoM said in a statement. The home loan at 8.4 per cent makes it one of the lowest in the banking sector. Besides, it said, the bank has also a special rate of interest (ROI) for defence personnel, including paramilitary forces, benefiting salaried and pensioner categories for home loans. BoM has already waived processing fees for its gold, home and car loans under the festive offer, the lender said. By introducing this offer, it said, BoM is offering the most lucrative ROI with added benefits on its array of products, benefiting customers availing them. Last week, public sector lender Bank of Baroda slashed its home loan interest rates by 40 basis points (bps) to 8.5 per cent. Further, BoB also reduced its MSME loan interest rates starting at 8.4 per cent. Both offers were effectiv

Self-regulation useful tool for setting rules for fintechs: RBI's M K Jain

The central bank's deputy governor says RBI has endeavoured to find a middle ground trying to balance between the innovation brought by fintechs and the unique risk they introduce

RBI repo undersubscribed but banks brace for volatile month-end liquidity

Central bank expected to conduct more variable rate repos towards end of financial year

India's inflation seen easing slightly in Feb, still above RBI target: Poll

Rises in food prices, which account for nearly half of the Consumer Price Index (CPI) basket, likely moderated last month

Worrisome to see no transparency in forex fees for small players: RBI's Rao

Foreign Exchange Dealers' Association should take lead in safeguarding customers against fraud platforms: Deputy Governor

RBI to hold 14-day variable rate repo auction for Rs 1 trillion on Friday

The sharp squeeze in liquidity has pushed up money market rates, with the 364-day treasury bills selling at yields above the 10-year paper's on Wednesday

Treasury yield curve inverts: What it means and what does it signal?

Yield curve inversion suggests that the market is becoming more pessimistic about the economic prospects for the near future

India must prepare to curb volatility risks of int'l rupee: RBI deputy gov

An international currency is one that is freely available to non-residents, essentially to settle cross-border transactions, and in the case of the rupee, this will be achieved by promoting it An inte

RBI possibly buying dollars in spot, paying forwards via PSBs: Traders

The Reserve Bank of India (RBI) was possibly buying dollars in spot and paying in forwards via public sector banks on Thursday to mop up foreign currency inflows, three traders told Reuters

Is it time to move away from equities and focus on debt? What analysts say

US Fed chair Jerome Powell has reiterated that the Federal Open Market Committee (FOMC) is likely to raise rates further than previously anticipated

YES Bank share price flat as SBI's three-year lock-in period ends this week

YES Bank's stock is surrounded by a lot of speculations that the SBI may book at least partial profit and it may lead to more pressure on the stock

RBI launches mission to make every citizen a user of digital payment

As many as 58% of some 90,000 respondents in an RBI survey said they were not using digital payments; a large chunk, in fact, was not even aware of them

Bond traders request RBI to shift to multiple price auctions of govt debt

In a uniform price auction, traders are wary of bidding at price levels that are way off the prevailing price of a bond in the secondary market

Inspection & supervision: RBI dons new clothes

The Reserve Bank has not changed the objectives of supervision but how it supervises the system. And, the change is dramatic

RBI slaps Rs 3.06 cr penalty on Amazon Pay (India) for violation of norms

The Reserve Bank of India on Friday said it has imposed a penalty of over Rs 3.06 crore on Amazon Pay (India) Private Limited for non-compliance with certain provisions related to Prepaid Payment Instruments (PPIs) and Know Your Customer (KYC) direction. "It was observed that the entity was non-compliant with the directions issued by RBI on KYC requirements," the RBI said in a statement. The RBI had issued a notice to Amazon Pay (India) advising it to show cause as to why penalty should not be imposed for non-compliance with the directions. "After considering the entity's response, RBI concluded that the aforesaid charge of non-compliance with RBI directions was substantiated and warranted imposition of monetary penalty," it said. The central bank, however, added the penalty is based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the Amazon Pay (India) with its customers. Amazon Pay is the ..

SC issues notice to Axis on a batch of RBI appeals to write off AT-1 bonds

The Supreme Court on Friday issued notices to Axis Trustee Services Ltd on a batch of appeals filed by the Reserve Bank of India (RBI) and others challenging a Bombay High Court order quashing a decision of the Yes Bank Administrator to write off Additional Tier 1 (AT-1) bonds. A bench headed by Chief Justice D Y Chandrachud took note of the submissions of Solicitor General Tushar Mehta, appearing for RBI, and senior advocate Kapil Sibal, representing Yes Bank, and extended the stay on the high court order quashing the decision of writing off AT-1 bonds. The Bombay High Court, while quashing the decision of the Yes Bank Administrator, had however said its decision will be in abeyance so the central bank and Yes Bank may appeal against it in the apex court. Issue notice. The stay granted (by the Bombay HC on its decision) will continue, said the bench, which also comprised justices P S Narasimha and J B Pardiwala. AT-1 bonds have no maturity date. These debt instruments offer highe