Page 161 - Reserve Bank Of India

Industry prepared for potential disruptions as tokenisation nears

industry insiders say, the success rate of token-based transactions is higher, but inadequate testing of certain use-cases may result in some transactions not going through

Rupee closes marginally higher against US dollar, RBI intervention seen

The rupee had opened higher at 81.61, but was not able to sustain the gains on dollar buying by foreign banks and oil companies

RBI policy: How inflation, repo rate and demand are linked to each other

With the RBI MPC expected to announce its decision on Friday, we explain how inflation, repo rate and demand are linked to each other

Top Headlines: FinMin won't exhaust forex for rupee; govt extends PMGKAY

Amid fast-depleting forex reserves, the Finance Ministry signalled that it was not in favour of selling the dollar to defend any particular level of the rupee

RBI to hike repo rate by 50 bps for 3rd time in a row as rupee slumps

The Reserve Bank of India's six-member monetary policy committee will raise its repurchase rate by 50 basis points to 5.9%, according to 24 of 35 economists surveyed by Bloomberg as of Wednesday.

RBI unlikely to extend card tokenisation deadline despite merchants' demand

Despite a demand by smaller merchants to delay the compliance date, there has been no indication so far by the central bank that there is likely to be an extension in deadline

Rupee at another low of 81.94 per dollar as US Fed talks up rate hikes

RBI may have sold more than $1 bln in FX mkt, prevented rupee from breaching 82/$1

NPCI sets Oct 31 as deadline to activate offline payments on RuPay cards

The move will breathe life into the RBI's January 3 framework which sought to give a fillip to offline payments and lead to the activation of the One Nation, One Card for on-the-go payments

Small savings rate may remain unchanged for Oct-Dec qtr despite RBI moves

If this happens, it will be the 10th straight quarter of status quo; govt official says Centre did not cut rates when policy rates were being cut during pandemic

Share of industrial loans in bank credit on decline, personal loans up: RBI

The share of industrial loans in total credit has been gradually declining over the last decade while that of personal loans is on the rise, the Reserve Bank said on Wednesday. Both industrial and personal loans had nearly 27 per cent credit share each in March 2022, as per the 'Basic Statistical Return on Credit by Scheduled Commercial Banks (SCBs) in India March 2022' released by the RBI. Meanwhile, loans to the industrial sector recorded 4.7 per cent growth in 2021-22 after witnessing a decline in the previous year. Earlier this month, Finance Minister Nirmala Sitharaman nudged the corporate sector to increase investment in the manufacturing sector. The RBI further said as credit demand from the retail segment has become more distinct in recent years, the portion of small-sized loans is also going up steadily. The share of loans up to Rs one crore has surged to nearly 48 per cent in March 2022 from around 39 per cent five years ago, whereas the share of loans above Rs 10 crore

RBI's rate setting panel starts deliberations; decision on Friday

The Reserve Bank's rate-setting panel on Wednesday started deliberations on the keenly awaited monetary policy amidst expectation of 50 basis points hike in interest rate to check inflation and improve foreign capital inflow to arrest declining value of rupee against the US dollar. The decision of RBI Governor Shaktikanta Das headed six-member Monetary Policy Committee (MPC) will be announced on September 30. The government has tasked the central bank to ensure the consumer price index (CPI) remains at 4 per cent with a margin of 2 per cent on either side, but retail inflation has stubbornly stayed above the RBI's comfort zone since January. As per the latest data, the inflation was at 7 per cent in August. While inflation remains high, the Indian rupee is sliding sharply, the US dollar and was currently trading near 82 against the greenback. The rupee depreciation has hastened following the US Fed raising their interest rate thrice by 75 basis point each in the recent past. Other

RBI MPC: Experts see a 50 bps hike, pressure on the real estate sector

Costlier EMIs and the limited ability of banks to transmit the rate hikes to customers may lead to the real estate sector becoming among the worst impacted sectors

Hawkish Fed may prompt Reserve Bank to deliver a 50-basis-point hike

The RBI's monetary policy committee (MPC) has already hiked the key policy rate by 140 bps since May to 5.4%

Household savings in India dip to lowest in five year as inflation persists

As compared to 15.9 per cent in FY21, the gross financial savings of households in India stood at 10.8 per cent in FY22

Active credit cards drop 2.3 million in August over new RBI norms

Spends decline 3% MoM but top Rs 1 trn for sixth consecutive month

Enhance coverage of scheduled castes in all schemes: FM Nirmala Sitharaman

The FM was chairing the performance review of PSBs on credit and other welfare schemes for scheduled castes

RBI's MPC to start 3-day meet on Wednesday, another rate hike likely

The Reserve Bank's rate-setting panel will start its 3-day deliberations on Wednesday amid expectations of yet another rate hike of 50 basis points to check high inflation, in line with similar actions taken by other major central banks, including the US Fed. Based on the recommendations of the Monetary Policy Committee (MPC), the RBI had effected 50 basis points increase in repo rate each in June and August after raising the short-term lending rate by 40 basis points in an off-cycle decision in May. The MPC, headed by RBI Governor Shaktikanta Das, is scheduled to meet during September 28-30. The decision will be announced on Friday (September 30). The RBI, which has since May raised the repo rate by 140 basis points (bps), may yet again go for a 50-bps increase, which will take the key rate to a three-year high of 5.9 per cent, say experts. The present rate is 5.4 per cent. The consumer price index (CPI) based on retail inflation, which had started showing signs of moderation in M

Red signals for fintech industry: The valuations game of the past is over

RBI Governor Shaktikanta Das' traffic light imagery for the fintech industry has several implications

RBI may need to tap old ways to boost forex reserves: Economists

"The central bank should intervene to ensure that a falling currency does not eclipse India's fundamentals," Abheek Barua, chief economist at HDFC Bank, wrote in a note this week

RBI may need to reload reserves as rupee falls further: HDFC economist

The Reserve Bank of India may need to find ways to replenish its foreign exchange reserves such as encouraging non-resident Indians to deposit more funds, as it looks to stabilise a depreciating rupee