Page 2 - Reserve Bank Of India

Explained: What is Account Aggregator framework, and how does it work?

From November 1, financial institutions will pay a standard fee to access customer data through the Account Aggregator network. Here's how the framework works and what the new pricing means for users

RBI to continue efforts to contain rupee volatility: FM Nirmala Sitharaman

Open to views on long-term capital gains tax and securities transaction tax, says FM Nirmala Sitharaman

Rupee rallies to 1-month high on RBI curbs, but banks remain uneasy

The rupee gained 0.6% in October, mainly due to a series of steps by the RBI in the last few days to curb speculative bets

RBI extends forex risk reserve requirement to banks' own hedging contracts

The central bank has mandated a 20 per cent reserve on eligible rupee derivative contracts used by authorised dealers to hedge their own currency risks, without a minimum transaction threshold

RBI tightens rupee derivatives rules, widens 20% cash reserve requirement

The move is the latest in a slew of measures announced by the central bank since Saturday aimed at supporting the rupee, which has been falling due to steep oil prices and capital outflows

RBI's liquidity move lifts weighted average call money rates by 12 bps

The Reserve Bank's liquidity measures announced last week to drain surplus from the banking system lifted weighted average call money rates by 0.12 per cent on Monday, experts said. The measures, including moves to increase the daily CRR maintenance limit to 99 per cent and bond sales through open market operations, will also help accelerate rate hike transmission, they said. The weighted average call money rate on Monday stood at 5.43 per cent against 5.31 per cent on October 9, according to the Clearing Corporation of India's (CCIL) data. Money market experts said high surplus liquidity in the banking system can weaken the transmission of a policy rate hike by reducing banks' dependence on market borrowings and allowing them to meet credit demand using readily available funds. When banks have ample liquidity, they face less pressure to raise deposit rates to attract funds, which can delay an increase in lending rates for borrowers. The excess liquidity also keeps short-term money

Banks seek RBI relief, clarity on India's latest rupee-defence measures

Lenders have approached ‌RBI via a forex industry body, seeking the removal of a mandate that banks make a 20% cash deposit with the RBI for FX derivatives used to hedge current-account exposures

Rupee posts biggest gain in 6 months after RBI measures to support currency

The currency gained 1%, its biggest jump since April, to 95.7575 per dollar on Monday

RBI opens special dollar window for oil firms as rupee comes under pressure

Special window for PSU oil companies from Monday; Forex dealers will not permit users to rebook any foreign exchange derivatives

HDFC Bank's Anup Bagchi set to become India's highest-paid bank CEO

HDFC Bank proposes ₹35.9 crore in annual compensation for incoming MD & CEO Anup Bagchi, including ₹26.92 crore in variable pay, besides a ₹7.35 crore joining bonus

Inflation pressures broaden as 37% of CPI basket rises above 4%: RBI

RBI's October Monetary Policy Report flags widening price pressures across goods and services, with food and fuel inflation adding to concerns over second-round effects

Bank deposits join CAS: What you may see, what may still be missing

Bank deposits will join the Consolidated Account Statement (CAS) from January 1. But will the move finally give consumers a complete picture of their financial life?

Is India's inflation problem spreading beyond food and fuel prices?

India's inflation rose to 4.8% in August from 3.4% in March, with food and fuel leading the rise, while core prices and services are now showing signs of wider pressure

RBI rate cycle: How much did borrowers and savers actually benefit?

The RBI's previous rate cycle shows that changes in the repo rate did not translate equally into loan and deposit rates, with the impact varying across borrowers and Depositors

Households turn wary on prices as consumer confidence slips: RBI surveys

The RBI's latest surveys show a widening gap between household price concerns and economic confidence, even as spending intentions remain resilient across urban and rural India

Much needed policy adjustment

With inflation risks rising, RBI signals a measured tightening cycle ahead

RBI removes Paytm Payments Bank from list of recognised scheduled banks

The Reserve Bank has officially removed Paytm Payments Bank from the list of recognised scheduled banks following the cancellation of its banking licence. In April this year, the Reserve Bank of India (RBI) had cancelled the banking licence issued to PPBL for non-compliance with norms, saying affairs of the bank were conducted in a manner detrimental to the interest of its depositors. Later, the Delhi High Court ordered that Paytm Payments Bank Ltd (PPBL) be wound up. "Paytm Payments Bank Limited has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934...," the central bank said in a statement on Wednesday. A notification in this regard was published on July 31 and published in the Gazette of India in September. The Second Schedule of the RBI Act is the official list of recognised banks that meet the central bank's financial standards and get special operational privileges. 'Scheduled bank' means a bank included in the Second Schedule. PPBL, an associate

India's rural economy decoupling from monsoon shocks, says RBI report

Rural incomes are becoming less dependent on monsoons as allied activities, irrigation and diversification cushion the impact of rainfall shortfalls.

Benefit to economy is goal, not cost of RBI operations: Governor Malhotra

RBI Governor Sanjay Malhotra says profit or surplus is incidental to the central bank's operations, stressing overall economic benefits amid questions over swap costs.

Hawkish hike, but measured path ahead

Depending on growth-inflation dynamics, the repo rate could rise to 6-6.25 per cent next year