Page 135 - Reserve Bank Of India

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

RBI seeks details of NBFCs' total credit to Adani Group of companies

Move the first after the introduction of scale-based supervision for NBFCs on October 1, 2022

Bill Gates visits RBI office in Mumbai, holds talks with Shaktikanta Das

Microsoft co-founder Bill Gates on Tuesday visited the Reserve Bank of India (RBI) office in Mumbai, where he held wide-ranging discussions with Governor Shaktikanta Das.

Bank capital needs may rise 15-20% based on draft RBI market risk norms

On February 17, the RBI released draft guidelines on minimum capital requirements for market risk based on Basel III standards

India's economic growth appears to be very fragile: RBI MPC member Varma

India's economic growth appears to be 'very fragile' and it may fall short of what the country needs to meet the aspirations of its growing workforce, RBI Monetary Policy Committee (MPC) member Jayanth R Varma said on Sunday. In India, Varma said he expects inflation to remain high in 2022-23 but come down significantly in 2023-24. "However, growth appears to be very fragile, and monetary tightening is compressing demand," he told PTI. Explaining further, he said rising EMI payments increases the pressure on household budgets and dampens spending, and exports are struggling in the face of global factors. While noting that high interest rates make private capital investment more difficult, Varma said the government is in fiscal consolidation mode, thus reducing the support to the economy from this source. "Because of all these factors, I fear that growth may fall short of what we need to meet the aspirations of our growing workforce given our demographic context and income level,"

Indian govt had no outstanding loans from central bank in Feb 17 week

The Indian government had no outstanding loans with the central bank under ways and means

Counting on RBI support, offshore investors build rupee crosses positions

The rupee will hold up better in an environment where the dollar is likely to receive support from the hawkish U.S. Federal Reserve, they said

G20 nations must address challenges faced by global economy, says RBI Guv

RBI Governor Shaktikanta Das on Friday called upon G20 nations to resolutely address the challenges, like threats to financial stability and debt distress that confront the global economy. Addressing the inaugural session of the meeting of G20 finance ministers and central bank governors, Das said although the outlook for the global economy has improved in recent months and there is now greater optimism that the world may avoid a deep recession and only experience slow growth or softer recession,"yet uncertainties lie ahead of us." "Together we must resolutely address the challenges that confront us, including those that are of medium to long-term nature such as threat to financial stability, debt distress, climate finance, fractures in global trade and strains on global value chains. We must promote greater global economic cooperation and position the global economy on a trajectory of strong sustainable balanced and inclusive growth," Das said. This is the first meeting of the ...

Not sufficient emphasis on jobs in FY24 budget, Ex-RBI Governor Subbarao

Former RBI governor D Subbarao on Thursday said there was not 'sufficient emphasis' on jobs in the Budget for 2023-24 and it failed to grapple with the unemployment problem head on, except to believe that growth itself will generate jobs. Subbarao noted that the unemployment problem was quite bad even before the Covid and it has become alarming as a result of the pandemic. "I was disappointed that there was not sufficient emphasis on jobs (in the Budget for 2023-24) ...mere growth will not do; we need job intensive growth," he told PTI in an interview. The former RBI governor was asked what was his biggest disappointment with the Budget. According to Subbarao, roughly a million people join the labour force every month and India is not able to create even half as many jobs. "As a result, the unemployment problem is not just growing but is becoming a crisis," he pointed out. While noting that there is no single or simple solution to problem as big and complex as unemployment, Subba

Sensex crashes over 900 points: Top 4 factors behind a wobbly Wednesday

Analysts believe that this down trend is a short-term gyration and investors' should use this dip to accumulate high quality growth stocks

Inbound travellers from G20 countries can now use UPI, says RBI

Even delegates from G20 countries would be able to avail this facility at various meeting venues

India, Singapore link systems for real-time cross-border fund transfers

The India-Singapore payment connection is part of the trend in Asia where instantaneous, cross-border fund transfers via mobile phones are happening

Banks request RBI to extend reporting time frame for loan related fraud

The framework mandates that banks report fraud to the RBI CRILC within a week of the joint lenders' forum (JLF) declaring an account fraudulent

India, China to contribute more than half of global growth this year: IMF

IMF added that the central banks across Asia need to stay 'alert' as the core inflation is still high, and the re-opening of China's economy may push inflation up due to higher demand

Reserve Bank of India tightens norms for ARCs on income recognising fee

They will have to reduce unrealised management fees where the net asset value of the Security Receipts has fallen below 50 per cent of the face value