Page 170 - Reserve Bank Of India

RBI's net forward book shrinks $34.94 bn in first 3 months of FY23

The multi-pronged defence of the rupee is behind the sharp fall in RBI's long forward position

Indians remitted $6 bn in Q1FY23 under LRS scheme, shows RBI data

Spend on international travel accounts for 48% of total remittance

Nowcasting the economy

Using new indicators can help policymaking

RBI moots 'tiered' charge on payments through UPI, seeks public feedback

The RBI has asked for feedback and suggestions before October 3

Should there be charges on UPI fund transfers?

Will you be comfortable paying for your daily UPI transactions? This is one of the many questions that the RBI has asked from the public as it wants to help make this digital ecosystem sustainable.

Central Bank of India likely to exit RBI PCA framework soon: Report

Central Bank of India, the only public sector lender under the RBI's prompt corrective action (PCA) framework, may see an exit from restrictions soon following an improvement in its financial health. The bank has already made a representation to the Reserve Bank of India (RBI) based on the improvement in financial parameters on a sustained basis for the past five quarters, sources said. According to sources, the RBI is looking at the bank's request and may take a view on this soon based on quantitative and qualitative parameters. Central Bank of India reported a 14.2 per cent rise in net profit to Rs 234.78 crore in the first quarter ended June this fiscal as compared to Rs 205.58 crore in the same quarter a year ago. In the latest quarter, the bank's gross NPA fell to 14.9 per cent of the gross advances as compared to 15.92 per cent in the year-ago period. Net NPAs too declined to 3.93 per cent from 5.09 per cent in the first quarter of the previous year. Of the three PSU lenders

Foreign exchange reserves fall $2.24 bn to $570 bn; FCA dips to $506.9 bn

The country's foreign exchange reserves fell USD 2.238 billion to USD 570.74 billion in the week ended August 12, according to the Reserve Bank of India (RBI) data. In the previous week ended August 5, the foreign exchange reserves declined USD 897 million to USD 572.978 billion. The fall in the reserves in the reporting week ended August 12 was on account a decline in the Foreign Currency Assets (FCA), a major component of the overall reserves, according to the Weekly Statistical Supplement released by RBI on Friday. FCA declined USD 2.652 billion to USD 506.994 billion, the data showed. Expressed in dollar terms, FCA includes the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves surged USD 305 million to USD 40.618 billion. The Special Drawing Rights (SDRs) increased USD 102 million to USD 18.133 billion. The country's reserve position with IMF also rose by USD 7 million to USD 4.994 billion

New 10-year bond pricing flags concern of inflation, say dealers

The latest bond coupon at 7.26 per cent is higher than expected

MPC minutes suggest further repo rate hikes to tackle rising inflation

Sequence of policy measures is expected to anchor inflation expectations, said Das

Explained: What are RBI's new norms for digital lending in India?

Digital lending involves giving and recovering loans through web platforms or mobile apps. Here are the new regulations and why they have been introduced

RBI report projects retail inflation within tolerance band by Q1FY24

Says persistent high inflation needs policy response

UPI charges may partially offset loss on credit card MDR: RBI paper

UPI charges may partially offset loss on credit card MDR

Axis Bank hikes MCLR by 5 bps across tenors, follows other lenders

Banks change lending policy to keep up with monetary policy committee's raising repo rate

RBI steps in as rupee slides on corporate outflows; bond yields jump

Bond yields jump as traders lock in profits after speculative rally on Wednesday

The right price

Transaction costs must be reasonable

RBI turns net seller of US currency in June; sells $3.719 bn: Data

Reserve Bank of India turned net seller of the US currency in June after it sold USD 3.719 billion on a net basis, the central bank data showed. In the reporting month, the central bank purchased USD 18.96 billion from the spot market and sold USD 22.679 billion, according to the RBI monthly bulletin for August 2022 released on Thursday. In June 2021, RBI was net buyer of the greenback after it purchased USD 18.633 billion on a net basis from the spot market. In May 2022, the central bank net bought USD 2.001 billion. It had purchased USD 10.143 billion and sold USD 8.142 billion during the month. During the fiscal 2022, the central bank had net purchased USD 17.312 billion. It had bought USD 113.991 billion and sold USD 96.679 billion in the spot market in FY22. In the forward dollar market, the outstanding net purchase at the end of June stood at USD 30.856 billion as compared to USD 49.191 billion in May, the data showed.

Top Headlines: India on digital services tax, RBI moots UPI payments charge

India and other developing countries under the G24 grouping have objected to the proposal of making sovereign commitments to not introduce any future digital services tax like equalisation levy

Most economists see GDP growing at slower pace in Q1 than MPC projection

At the MPC's estimate of 16.2%, the economy would have grown 6.1% over the corresponding quarter of 2019-20

Should India go for bond issue to tap NRIs, other overseas investors?

The crucial issue is what should be the interest rate to attract overseas investors, mainly Indians to take part in it

Centre appoints Rajkiran Rai as NaBFID managing director for nearly 5 years

FSIB had recommended Rai's name for the top job in July