Page 61 - Reserve Bank Of India

RBL Bank re-appoints R Subramaniakumar as MD & CEO for a period of 3 years

R Subramaniakumar was initially appointed for a period of three years as MD and CEO of the bank in June 2022

Domestic, global headwinds challenge RBI's forex intervention efforts

India's forex reserves are at a five-month low after the RBI sold $38 billion, per IDFC FIRST Bank's estimate, between October and the first week of December

RBI raises collateral-free agricultural loan limit to Rs 2L to aid farmers

The Reserve Bank of India (RBI) has enhanced the collateral-free loan limit for farmers from Rs 1.6 lakh to Rs 2 lakh, effective January 1, 2025, a move aimed at supporting small and marginal farmers amid rising input costs. The new directive instructs banks nationwide to waive collateral and margin requirements for agricultural and allied activity loans up to Rs 2 lakh per borrower. According to the agriculture ministry, the decision comes in response to the rising input costs and the need to improve credit accessibility for farmers. "This measure will significantly benefit over 86 per cent of farmers who are small and marginal landholders," the statement said. Banks have been instructed to implement the guidelines swiftly and ensure widespread awareness about the new loan provisions. The move is expected to facilitate easier access to Kisan Credit Card (KCC) loans and complement the government's Modified Interest Subvention Scheme, which offers loans up to Rs 3 lakh at a 4 per ce

India's foreign exchange reserves decline to 5-month low of $654.8 billion

The RBI is expected to have sold net dollars worth $61.1 billion to protect the domestic currency

Credit grows at 10.6% and deposits at 10.7% in November 29 fortnight

Data shows outstanding deposits in the fortnight ending November 29 stood at Rs 220.17 trillion, while outstanding credit stood at Rs 175.09 trillion

RBI's forex swaps, arbitrage spur inversion of rupee forward premiums curve

The implied yield on near-maturity forwards is now higher than on longer-term forwards for the first time this year

Punjab & Sind Bank plans to raise Rs 3,000 cr from infra bonds this month

State-owned Punjab & Sind Bank plans to raise Rs 3,000 crore from maiden infrastructure bonds this month as part of exercise to raise resources to expand loan book. "We have taken board approval for raising Rs 5,000 crore from infrastructure bonds in tranches. As against that, the bank proposes to raise Rs 3,000 crore in the first tranche," Punjab & Sind Bank Managing Director and CEO Swarup Kumar Saha said. Asked about the timing of fundraise, he said, it would be tentatively in the third week of this month. The base issue size is going to be Rs 500 crore, with a greenshoe option of Rs 2,500 crore. In accordance with RBI guidelines, these papers would have a tenure of 10 years. They have been rated as 'AA' by domestic rating agencies. The bank proposes to utilise the proceeds in the next two quarters. These bonds would be listed on the National Stock Exchange (NSE) for trading. The bank is aiming at the credit growth of 13-14 per cent during the current financial ...

'Credit card delinquencies rise in June even as issuance growth drops'

According to CRIF data, delinquencies in the 91-180 DPD category increased to 7.6 per cent in October 2023, up from 6.5 per cent in June 2023

Stable govt, GDP growth to help India get FPIs: Barclays' Prez Dainton

India has a demographic advantage and substantial growth and a political system that is relatively calm and consistent, Stephen Dainton, President of Barclays Bank PLC said

Rate cut unlikely in Feb review or in FY26: Axis Bank's Neelkanth Mishra

A rate cut will not be possible for the next 13-14 months due to the inflation outlook, said Mishra, who is also a part-time member of the PM's Economic Advisory Council

Stability, trust, and growth key: RBI Guv Sanjay Malhotra in first address

'We cannot be stuck. We have to be agile while maintaining policy continuity,' Sanjay Malhotra said in his first address as RBI governor

10-year bond yield may fall to 6.6% if RBI eases in Feb: ICICI's Prasanna

Prasanna expects a shallow monetary easing cycle of 50 basis points, with a 25-basis-point reduction in February, and a similar one in April or June

Sanjay Malhotra assumes charge as new RBI governor amid economic challenges

Malhotra's appointment marks him as the first RBI governor since Duvvuri Subbarao to transition directly from the Finance Ministry

Rupee likely to maintain downward drift, RBI counted on to cap losses

The one-month non-deliverable forward indicated that the rupee may open near 84.88

Packing and labelling imported goods don't confer Indian-origin status

The balances in the RVAs are built through inward remittances in freely convertible currencies

India set for resilient growth in 2025 driven by urban consumption: S&P

For 2025-26 and 2026-27, S&P Global Ratings pegged India's GDP growth forecast at 6.7 per cent and 6.8 per cent, respectively, down 20 basis points from its previous estimates

Restoring inflation-growth balance most important priority for RBI: Das

Outgoing RBI Governor Shaktikanta Das hoped that there would be a nationwide roll-out of Unified Lending Interface

Will do what is best for economy, says incoming RBI guv Sanjay Malhotra

Malhotra, 56, will take over as governor today at a time when there is growing clamour for an interest rate cut to support slowing economic growth

Civil servants at Mint Road: A legacy of leadership at the RBI helm

Economists can still look forward to filling the deputy governor's position

Challenges for the new RBI Governor Sanjay Malhotra

On December 9, Sanjay Malhotra was appointed as the new Governor of the Reserve Bank of India. What will be his top challenges.