Page 27 - Reserve Bank Of India

RBI's rate cuts, and expectations of more, can ease your home loan EMI

Lower inflation rates are expected to trigger more rate cuts from the central bank, which will be passed on to consumers in the form of lower interest rates

NiC rises to Rs 34.8 tn but growth slows with shift to higher notes

Cash usage in India has slowed since the 1990s despite NiC rising to Rs 34.8 trillion in 2024, with increased ATM access and digital adoption impacting demand

Banks seek overnight liquidity ops, easier reserve norms from RBI

RBI's main cash management tool has been the 14-day variable repo since a change in 2020 that was intended to lower banks' reliance on the RBI and push them to better predict their liquidity needs

Outlook for India is one of cautious optimism, says the RBI report

The prospects of bumper rabi harvest and the outlook of an above normal monsoon would further strengthen rural consumption and is also likely to keep food inflation in check

Open market operations: The central bank's new communication policy

The approach to managing liquidity and communication policy is yet another manifestation of how the central bank has taken a fresh view on the issue

RBI gives in-principle nod to Emirates NBD for India subsidiary setup

The Reserve Bank of India on Monday said it has decided to grant "in-principle" approval to UAE-based Emirates NBD Bank PJSC for setting up a wholly-owned subsidiary in India. Emirates NBD Bank PJSC is currently carrying on banking business in India in branch mode through its branches located in Chennai, Gurugram and Mumbai. "The in-principle approval has been granted to the bank for setting up a WOS (wholly-owned subsidiary) through conversion of its existing branches in India," the Reserve Bank said in a statement. RBI further said it would consider granting a licence for commencement of banking business in WOS mode of the Banking Regulation Act, 1949 to Emirates NBD Bank PJSC, on being satisfied that the bank has complied with the requisite conditions laid down by RBI as part of "in-principle" approval. According to the bank's website, Emirates NBD India branches offer a range of banking services for both personal and corporate clients. It also offers an exclusive banking ...

RBI cancels licence of HCBL Co-op Bank due to capital, earnings shortfall

The Reserve Bank on Monday said it has cancelled the licence of Lucknow-based HCBL Co-operative Bank as the lender does not have adequate capital and earning prospects. Consequently, the bank ceases to carry on banking business, with effect from the close of business on May 19, the Reserve Bank of India (RBI) said in a statement. The Commissioner and Registrar of Cooperative, Uttar Pradesh has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank, it said. On liquidation, every depositor would be entitled to receive a deposit insurance claim amount of his/her deposits up to Rs 5 lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC). As per the data submitted by the bank, 98.69 per cent of the depositors are entitled to receive the full amount of their deposits from DICGC, RBI said. As of January 31, 2025, DICGC has already paid Rs 21.24 crore of the total insured deposits. Giving details, the RBI said the cooperative ba

RBI seeks govt nod for bigger contingent risk buffer band after ECF review

Board to meet on May 23 to decide transferable surplus based on new range

Mint Road's enforcement framework shifts focus to governance premium

The woes at IndusInd Bank have put the spotlight back on a key initiative the banking regulator's Enforcement Department set rolling in FY24

RBI penalises Deutsche Bank, YES Bank for breaching compliance norms

Deutsche Bank and YES Bank fined ₹50 lakh and ₹29.6 lakh respectively for violating RBI directions on credit reporting and disclosure of customer complaints

India's forex reserves jump $4.5 bn to $690.61 bn on rise in gold assets

India's forex reserves jumped by USD 4.553 billion to USD 690.617 billion for the week ended May 9 on the back of a steep increase in gold assets, the RBI said on Friday. In the previous reporting week, the overall reserves had dropped by USD 2.065 billion to USD 686.064 billion. The forex reserves had touched an all-time high of USD 704.885 billion in end-September 2024. For the week ended May 9, foreign currency assets, a major component of the reserves, increased by USD 196 million to USD 581.373 billion, the data released on Friday showed. 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. Gold reserves jumped by USD 4.518 billion to USD 86.337 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by USD 26 million to USD 18.532 billion, the apex bank said. India's reserve position with the IMF was also down by

Muthoot Finance to go slow on MFI biz amid stress in the segment: MD

George Alexander Muthoot says the firm will prioritise gold loans due to strong demand and regulatory pressure on unsecured lending, as MFI exposure is scaled down

RBI board reviews economic capital framework ahead of surplus transfer

RBI board reviews Economic Capital Framework as part of five-year cycle, with FY25 surplus transfer expected to set a new record amid strong balance sheet gains

RBI pushes lenders to revive funding market vital for monetary policy

While overall money-market turnover has risen to an average $70 billion a day, interbank trades account for just 2 per cent of that, down from 20 per cent a decade ago

Three RBI rate cuts likely from June as inflation dips below 4% target

With inflation staying under RBI's 4% target for two months, economists expect three back-to-back repo rate cuts, starting with a 25 bps reduction in June

EOW files chargesheet in Rs 122 crore New India Co-operative Bank 'scam'

Mumbai Police's EOW has filed a chargesheet in the ₹122-crore New India Co-operative Bank scam, naming ex-chairman Hiten Bhanu and his wife Gauri, who have fled India and been declared wanted

RBI reviews e-wallets after sudden collapse of EV taxi service BluSmart

Reserve Bank of India has begun informal consultations with EV charging-point operators and other app-based EV platforms to assess potential consumer risks

PSBs introduce AI-driven soft skill training to enhance customer service

It comes against the backdrop of stagnating deposit growth at major public sector banks (PSBs) and concerns in the Ministry of Finance about inconsistent customer service

Retail inflation slid further to 3% in Apr; easing room for RBI rate cut

In March, retail inflation stood at 3.34 per cent- the lowest since August 2019

Dynamic bond funds: Check rate-cycle track record before investing

A dynamic bond fund (DBF) can help investors navigate rate cycles effectively