Page 46 - Reserve Bank Of India

RRBs get five more years to amortise additional pension liabilities

RRBs were earlier permitted to amortise their liability on account of the Employee Pension Scheme 2018 over five years

RBI appoints Indranil Bhattacharyya as executive director, effective Mar 19

As ED, Bhattacharyya will oversee the department of economic and policy research

Indranil Bhattacharyya appointed as new executive director of RBI

The Reserve Bank of India (RBI) on Thursday said it has appointed Indranil Bhattacharyya as executive director (ED). As executive director, Bhattacharyya will look after the Department of Economic and Policy Research, the RBI said in a statement. The appointment is effective from March 19. Prior to his promotion as ED, Bhattacharyya was serving as Adviser in the Monetary Policy Department of the RBI. Over a span of nearly three decades, he has worked in the areas of monetary policy, fiscal policy, banking, and international economic relations in the Monetary Policy Department, Department of Economic and Policy Research and the International Department of the RBI. He has also served as an economic expert in the technical office of the Governor at Qatar Central Bank, Doha, Qatar for 5 years (2009-14). Bhattacharyya has a postgraduate degree in economics from Jawaharlal Nehru University, New Delhi. His research interests are primarily in monetary theory and policy, financial market

DLAI to rebrand itself to Unified Fintech Forum as it pursues its SRO bid

This is in response to the Reserve Bank of India's (RBI's) internal feedback on its bid for official SRO status, according to three sources from the fintech industry

Remittances to India from advanced economies surpass Gulf inflows: RBI

Indian migrants in the Gulf Cooperation Council (GCC) countries account for around half of the total Indian migrants in the world

India's structural strengths lay strong foundation for growth: RBI Bulletin

Sound fiscal policies, a well-calibrated monetary framework, and digital transformation initiatives are expected to provide a strong foundation for long-term sustainable economic growth, said RBI March Bulletin released on Wednesday. It also said that macroeconomic fundamentals remain strong, and economic growth is poised to sustain momentum driven by robust domestic demand, steady investment activity, and ongoing policy-driven infrastructure development along with a pick-up in government spending. An article on 'State of the Economy' published in the Bulletin noted that the resilience of the global economy is being tested by escalating trade tensions and a heightened wave of uncertainty around the scope, timing, and intensity of tariffs. While engendering heightened volatility in global financial markets, these have also caused apprehensions about the slowdown in global growth. "Amidst these challenges, the Indian economy continues to demonstrate resilience as evident in the robus

Urban co-op banks must be mindful of trust reposed by depositors: RBI Guv

RBI Governor Sanjay Malhotra advised the UCBs to ensure that they remain operationally resilient, including against IT and cyber-related risks

RBI 'passively' absorbing dollar inflows over past sessions, say traders

Inflows related to inter-company borrowings and repatriation of corporate profits are usual in March, the last month of the financial year

Smallcap fund correction: Trim exposure if it exceeds 20%, avoid full exit

Earnings-related uncertainty continues to weigh on small caps

The rise and rise of customer complaints: Which states rank the highest?

According to the RBI data, during 2023-24, the Centralised Receipt and Processing Centre and Offices of Reserve Bank of India Ombudsman (ORBIOs) received 934,000 complaints

LIC to announce acquisition in health insurance firm by Mar 31: CEO Mohanty

LIC MD & CEO Siddhartha Mohanty said a decision on acquiring stake is likely by March 31, but he didn't disclose the health insurer's name

RBI, Bank of Mauritius sign pact to use local currencies in bilateral trade

Reserve Bank and the Bank of Mauritius (BOM) have signed a pact for establishing a framework to promote the use of the Indian Rupee and the Mauritian Rupee (MUR) for cross-border transactions. The Memorandum of Understanding (MoU) was signed by RBI Governor Sanjay Malhotra and BOM Governor Rama Krishna Sithanen G C S K, the central bank said in a statement on Tuesday. "The MoU documents were exchanged in Port Louis, Mauritius in the presence of the Prime Minister of India Narendra Modi and Prime Minister of Mauritius Navinchandra Ramgoolam, on Wednesday, March 12, 2025," it said. The RBI said the MoU aims to promote the use of INR and MUR in bilateral trade. The MoU covers all current account transactions and permissible capital account transactions as agreed upon by both the countries. The framework would enable exporters and importers to invoice and pay in their respective domestic currencies, which in turn, would enable the development of a market in the INR-MUR pair. Use of lo

Avoid calling customers repeatedly to submit KYC docs: RBI Governor

Malhotra rued that most banks and NBFCs have not enabled their branches or offices to access information from the central database due to which customers have to face the avoidable inconvenience

RBI increases state bond auction amount to Rs 52,120 cr from Rs 40,120 cr

In the previous auction, the cut-off yield on 10-year state bonds was set in the range of 7.18 per cent to 7.27 per cent

Debt MFs see Rs 6,525 cr outflow in Feb amid short-term fund redemptions

Notably, 10 of 16 debt mutual fund categories reported net outflow during the month, data with Association of Mutual Funds in India (Amfi) showed

IndusInd Bank gains 5% on RBI's reassurance on lender's financial health

The stock price of IndusInd Bank had tanked a 32 per cent in three days between March 6 and March 11.

PM Modi hails RBI for being selected for Digital Transformation Award 2025

Prime Minister Narendra Modi on Sunday hailed as a "commendable accomplishment" the Reserve Bank of India being selected for the Digital Transformation Award 2025, and said it reflects an emphasis towards innovation and efficiency in governance. In a post on X, the Reserve Bank of India (RBI) said it has been selected for the Digital Transformation Award 2025 by Central Banking, London, UK. "RBI was awarded and recognised for its initiatives, including Pravaah and Sarthi systems, that have been developed by an in-house developer team. The awards committee noted how these digital initiatives have reduced use of paper-based submissions thus transforming RBI's internal and external processes," the post read. Tagging the post, Modi said, "A commendable accomplishment, reflecting an emphasis towards innovation and efficiency in governance." Digital innovation continues to strengthen India's financial ecosystem, thus empowering countless lives, the prime minister said.

EIL, MECON, and 4 others in fray for RBI's currency management project

State-owned Engineers India and MECON as well as four private entities are in the fray for the project to comprehensively revamp RBI's currency management infrastructure in order to cater to future cash needs of the country's fast growing economy. The four private entities are: Accenture Solutions; Colliers International (India) Property Services; PricewaterhouseCoopers and The Boston Consulting Group (India). The RBI had earlier invited expression of interest (EoI) for 'Procurement of Consultancy and Project Management Services for Modernisation of Currency Management Infrastructure in India'. The central bank had received responses from 11 entities. After evaluating the responses, RBI said it has shortlisted six entities for issuance of Request for Proposal (RFP), according to an official document. According to the EoI document, the RBI proposes creation of greenfield currency management centres, the introduction of warehouse automation, the installation of security and surveilla

Banking system in India remains strong despite market concerns

The RBI assures stability as IndusInd Bank addresses a one-time discrepancy, reinforcing the resilience of India's banking sector amid strong liquidity and regulatory oversight

IndusInd Bank 'stable': RBI assures depositors, dismisses mkt speculation

The Reserve Bank of India issued a statement, assuring the depositors that the bank is well-capitalised and financially stable, and that there is no reason to react to speculative reports