Page 240 - Reserve Bank Of India

Federal Bank's loans grow by 9% growth in FY21, deposits rise by 13 %

Provisional data showed that between early January and March 2021, advances rose Rs 6,696 crore, according to the lender's filing with BSE

Monetary policy: All eyes on RBI for orderly evolution of yields

Overall policy focus will remain on supporting growth through low and stable interest rates and abundant liquidity

Rising Covid cases may prompt RBI to maintain status quo on rates: Experts

RBI Governor Shaktikanta Das headed six-member MPC is scheduled to meet from April 5 to 7. The policy meet outcome will be announced on April 7

India's forex reserves decline by $2.98 billion to $579.28 billion

The country's foreign exchange reserves declined by USD 2.986 billion to reach USD 579.285 billion in the week ended March 26, RBI data showed on Friday. In the previous week ended March 19, the forex kitty had increased by USD 233 million to USD 582.271 billion. It had touched a record high of USD 590.185 billion in the week ended January 29, 2021. In the reporting week ended March 26, 2021, the fall in reserves was on account of a decrease in foreign currency assets (FCA), a major component of the overall reserves. FCA declined by USD 3.226 billion to USD 537.953 billion, as per weekly data by the Reserve Bank of India (RBI). Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. The gold reserves increased by USD 276 million to USD 34.907 billion in the reporting week, the RBI data showed. The special drawing rights (SDRs) with the Internationa

RBI deputy governor BP Kanungo retires after completing 1-year extension

Against expectations of getting a second extension, the senior-most deputy governor BP Kanungo retired from the Reserve Bank on completion of his one-year extension on Friday. Kanungo joined the RBI in 1982 and was in charge of currency management, external investments, operations, payment, and settlement system, among others, during the four-year term as the deputy governor, which began in April 2017. The government had appointed him as a deputy governor in March 2017 when Urjit Patel was the governor and he took charge on April 3, 2017, for a three-year term ending April 2, 2020, but was given a one-year extension. There was an expectation that he might a second extension after the government had cancelled interviews for the post of the deputy governor, scheduled for March 10. As deputy governor, Kanungo headed the departments of currency management, external investments & operations, government & bank accounts, information technology, payments & settlement systems, ...

Shades of status quo

Reversal of interest rate cut should have been avoided

Exports of foreign arms accounted for 33% of their total sales in FY20: RBI

Exports of foreign subsidiaries in India accounted for 32.6 per cent of their total sales in 2019-20, according to RBI

Stressed and not showing: Covid-19 relief hides true picture about banks

Banks seem to be doing better as India's economy recovers from the Covid-19 devastation. But be prepared for shocks when a true picture emerges, writes Devangshu Datta

RBI gives payment firms 6-month breather to comply with new framework

Earlier, the RBI had asked the payment aggregators to stop storing card details within their database as per its March 2020 guidelines that were to take effect from July this year

Auto-debit payments: RBI extends timeline for implementation of new rules

The new norms were supposed to kick in from April 1 but neither banks nor the other stakeholders in the ecosystem had readied their system

Govt to infuse Rs 14,500 crore in 4 banks, issue recapitalisation bonds

Special securities shall be non-interest bearing and no interest shall be payable on issue of the securities

India records current account deficit of 0.2% in Dec quarter: RBI data

However, the current account remained in surplus at 1.7% for Apr-Dec 2020 as against in a deficit of 1.2% in Apr-Dec 2019

SP Group's debt recast gets KV Kamath Committee, lenders approval

As part of the OTR plan, the Shapoorji Pallonji group has agreed to sell key assets, including its stakes in Eureka Forbes, Sterling and Wilson and land parcels, to raise Rs 10k cr and repay its loans

Centre tightens rules of grant allocation for transparency, efficiency

The Department of Expenditure order vouches for more effective cash management and bring more efficiency in public expenditure management

Biggest rupee bear sees Asia's top performing currency hitting one-year low

Rupee is a surprise winner in Asia this year as expectations of an economic recovery, a rare current-account surplus and massive foreign inflows have shielded it from the impact of rising US yields

Leading private banks to cancel auto-debit payments from April 1

RBI to fine Rs 5 lakh per instance of lapse. Given that millions of bank customers use the auto-debit facility, banks were staring at hundreds of crores in fines

Automatic recurring payment to comply with RBI direction from April 1

As part of risk mitigation measure, RBI announced this step to bolster safety and security of card transactions

Rational expectations

Evolving conditions would lead to adjustment in markets

Market in distressed assets may be huge, but deal-making faces headwinds

With the Supreme Court vacating the one-year breather on the filing of insolvency proceedings, it's back to the grind on the bad-loans front

Banks brace for fresh round of war against NPAs

As it prepares to bring to a close the most difficult year in history, the banking industry is gearing up to tackle a fresh bout of bad loans