Page 162 - Reserve Bank Of India

Reducing govt spending holds the key to fixing India's inflation worries

If the finance ministry wants private investment to revive, it must make things easy for it and resist the temptation to go on spending just because it can

Rupee ends beyond 81 against dollar for the first time; lags EM peers

RBI may have sold around $1 bn, but experts see pace of intervention declining

Dubai-based Mark ab Capital invests Rs 350 crore in Shriram EPC equity

The Dubai-based company has bought 26.48% stake in the turnkey solutions firm and has become its promoter

NBFCs' recovery to be hit after RBI action against M&M Financial Services

Moreover, as lenders will not deploy their own staff for such activity, their operation costs may go up, said experts

Rupee closes at new low against US dollar amid risk-off mood

The dollar index traded above 113-levels for the first time since 2002 as deep tax cuts in the UK sent the sterling to a record low

We've moved away from being a founder-run company: BharatPe's Suhail Sameer

In a Q&A, the firm's CEO asserts that the company is now professionally run and is focused on being IPO ready

S&P projects India's FY23 GDP growth at 7.3%, pegs inflation above 6%

S&P Global Ratings on Monday projected India's economic growth at 7.3 per cent in the current fiscal with downside risks and said inflation is likely to remain above RBI's upper tolerance threshold of 6 per cent till the end of 2022. In its Economic Outlook for Asia Pacific, S&P said India's growth next year will get support from domestic demand recovery after the coronavirus pandemic. "We have retained our India growth outlook at 7.3 per cent for the fiscal year 2022-2023 and 6.5 per cent for the next fiscal year, although we see the risks tilted to the downside," it said. Other agencies have cut India's GDP growth forecast amid higher inflation and rising policy interest rates. Earlier this month, Fitch Ratings slashed the growth estimate to 7 per cent for the current fiscal from 7.8 per cent pegged earlier. India Ratings & Research too had reduced its projections to 6.9 per cent from 7 per cent earlier. Asian Development Bank has cut the projection to 7 per cent from ...

Govt draws up plans to address concerns of green bond investors

A government official aware of the developments said the treatment for such bonds had to be different from that for the money raised through various types of cess

Navigating the affordable housing finance market

The demand for affordable housing finance is very high, but housing finance companies have not disbursed loans up to their potential, owing to a lack of awareness among customers about such firms

Rupee has held back very well among peers against dollar: FM Sitharaman

Finance Minister Nirmala Sitharaman on Saturday said the rupee has "held back very well" when compared to other currencies against the US Dollar. The Reserve Bank and the Finance Ministry are keeping a very close watch over the developments, the finance minister told reporters after the domestic currency sunk to a lifetime low against the greenback. "If any one currency which has held its own and did not get into fluctuation or volatility as much as other currencies it is the Indian rupee. We have held back very well," she told reporters here on the final day of her three-day visit to Pune district which is a stronghold of NCP chief Sharad Pawar. She also asked a reporter to do a study on how the other currencies are behaving against the US dollar in the latest round of depreciation. According to experts, the latest round of depreciation is triggered by adverse global developments starting with the geopolitical tensions triggered by the Russian invasion of Ukraine earlier this ...

Applying for a digital loan? Stick to loan apps on RBI's white list

The name of the bank or NBFC on whose behalf the app lends should be mentioned on the former's website

RBI action has no impact on business, says M&M Financial Services

The RBI action of barring M&M Financial from outsourcing recovery agents comes after the Harazibagh incident where a pregnant woman was mowed down to death

We're looking to hire 1,700 bankers this year: Central Bank of India MD

Rao says he doesn't foresee much flight of CASA money into term deposits as deposit rates are hiked

At 16.2%, credit growth in banking system at multi-year high: RBI data

But a widening credit-deposit gap is a concern for lenders

Will exit reconstruction scheme after lock-in period ends: YES Bank

The RBI has set three parameters for YES Bank before it can leave the reconstruction scheme

Rupee Cooperative Bank set to explore merger proposal, SFB conversion

On August 8, the RBI had ordered cancellation of the banking licence of the ailing UCB from September 22. The high court will take up the matter on October 17

India's forex reserves fall by $5.22 bn to near two-year low: RBI data

India's foreign exchange reserves fell for a seventh straight week, dropping to $545.652 bn in the week to Sept 16, its lowest level since Oct. 2, 2020

India OIS curve may steepen on overcooked rate hike bets: BofA Securities

BofA expects the Reserve Bank of India to raise rates by 25-35 basis on Sept. 30 and reckons the policy rate will reach 6.5% by end-2023, much later than what some investors are expecting

India, US 10-year yield spread at its lowest in 12 years, shows data

The current spread is nearly 142 bps lower than the 10-year average spread of 518 bps, and 66 bps lower than the 20-year average spread of 442.3 bps

'Can't outsource recovery agents': RBI cracks the whip on M&M Financial

This is probably the first time the regulator has cracked down on lenders on recovery by coercive methods, which is typically a hallmark of outsourced recovery agents