Page 140 - Reserve Bank Of India

RBI announces green bonds, to be auctioned in 2 parts of Rs 8,000 cr each

The proceeds from the bonds will be deployed in public sector projects which help in reducing the carbon intensity of the economy, said RBI

No need for customers to visit bank branches for re-KYC, says RBI

Self-declaration via email, phone sufficient

Foreign banks rush to find plan B as ESMA-BoE ban on CCIL looms

Foreign lenders, RBI in talks to find satisfactory alternative mechanisms

Digital payment plaints highest in RBI's integrated ombudsman scheme

Complaints relating to digital modes of payment and transactions were the highest, constituting 42.12% during the year

Turnaround of PSBs: From Rs 85K-cr loss in 2017 to nearing Rs 1-trn profit

Public sector Banks have travelled a long distance since 2017 when they posted a net loss of Rs 85,390 crore to a profit of Rs 66,539 crore in FY22 and are estimated to touch a milestone of Rs 1 lakh crore by the end of the current fiscal. There was a time when 11 out of 21 PSBs were placed under the prompt corrective framework of the Reserve Bank due to deteriorating financial health on account of mounting bad loans to alarming levels of 14.58 per cent of the total credit. PSBs suffered from a host of problems, including a dismally low capital base, unprofessional management, demoralised staff and huge inefficiencies. Many of them were on the brink of default posing a threat to the financial security of the country. Their share prices were hitting a rock bottom. PSBs booked collective losses to the tune of Rs 2,07,329 crore for five straight years -- from 2015-16 to 2019-20. The highest amount of net loss was registered in 2017-18 at Rs 85,370 crore, followed by Rs 66,636 crore in

Surge in credit to NBFCs takes service sector loans past those to industry

RBI data shows that as of November 18, outstanding loans to the services sector amounted to Rs 33.15 trillion while those to industry stood at Rs 32.94 trillion

Are we ready for the political compromises a digital currency may warrant?

It took 300 years for trust in currency to become total and unquestioned, and now digital currency brings with it some new challenges for it

A veteran's veteran

Former RBI official P P Ramachandran's third book is a labour of love comprising little tributes to the people with whom, or under whom, he had worked

SBI, ICICI, HDFC Bank continue to be systemically important banks

Lenders regarded as too big to fail; classification based on data they gave in March 2022

Interest rates nearly peaked, may go up by another 25 bps: UCO Bank CEO

Soma Sankara Prasad, managing director and chief executive officer of the Kolkata-based lender in an interview that he expects strong interest for the rupee trade from several nations

International regulation needed for crypto activities, says Reserve Bank

Noting that there is turmoil in crypto assets market, the Reserve Bank of India (RBI) has suggested a framework for international regulation of such crypto activities

India's December manufacturing PMI expands to 57.8; highest in over 2 yrs

Monday's data cemented the view Asia's third-largest economy is better placed than many other emerging economies to weather the impact of a potential global recession

Economic stress tests

External sector remains a source of risk

How financial reforms can quicken pace for India to become a $5-trn economy

In the Union Budget for FY22, no funds were earmarked for recapitalising state-run banks. This was a decadal first, and will temper their eagerness to lend

RBI to extensively use AI, MI driven tools for info creation, data analysis

Artificial Intelligence (AI) and Machine Learning (ML) driven tools for data analysis and information creation will be integral part of Reserve Bank's Medium-term Strategy Framework Utkarsh 2.0' for the period 2023-2025 launched on Friday by Governor Shaktikanta Das. The first strategy framework (Utkarsh 2022) covering the period 2019-2022 was launched in July 2019. It became a medium-term strategy document guiding the Bank's progress towards realisation of the identified milestones. Against the backdrop of a challenging global and domestic environment, Utkarsh 2.0 commences from 2023, when India assumes the G-20 Presidency, the RBI said. "With India's G-20 presidency during the period of Utkarsh 2.0, it confers a unique opportunity to showcase our accomplishments in the realm of digital payments and strive towards broad basing of acceptance of the Indian Rupee in bilateral and multilateral trade," the document said. Utkarsh 2.0 harnesses the strengths of Utkarsh 2022 by retaining

Indians' overseas financial assets fell $43.9 bn in July-Sep: RBI report

The reduction in non-residents' financial assets in India though was relatively lesser at $9.6 billion

CASA drives 9.4% YoY moderation in deposit growth even as FDs stay buoyant

Credit growth sustains momentum at 17.4%, but it has come off the peak

Religare Finvest signs settlement agreement with all its lenders for OTS

Debt-ridden Religare Finvest Ltd (RFL) on Friday said it has signed a settlement agreement with all its lenders for a one-time settlement, clearing the deck for the NBFC to exit from the Corrective Action Plan imposed by the RBI. Religare Enterprises, the parent company of RFL, has entered into an agreement in connection with the OTS with all 16 secured lenders for full and final settlement with respect to all their outstanding dues, a regulatory filing said. RFL has been under a Corrective Action Plan (CAP) since January 2018 due to its weak financial health. RFL, an NBFC arm of Religare Enterprises Ltd, owed about Rs 5,300 crore to the consortium of lenders led by the State Bank of India (SBI). Other lenders include the Bank of Baroda, Union Bank of India, Canara Bank, Punjab National Bank, Bank of India, IDBI Bank, Punjab & Sind Bank, and Bank of Maharashtra. The regulatory filing said RFL would ensure compliance with the terms and conditions of the said OTS (one-time ...

'Important to arrive at a common international approach to crypto': RBI

Financial Stability Report: The FTX turmoil, RBI said, revealed that crypto is highly volatile, exhibits high correlations with equities and does not act as a hedge against inflation

Nine NBFCs may fall below minimum capital requirement in baseline scenario

The baseline scenario is projected for one year ahead, based on assumptions of business continuing under usual conditions