Page 7 - Reserve Bank

Tracking the rise of Reserve Bank of India's physical gold reserves

In the annual report for 2023-24, RBI has said - of the 514.07 metric tonne of gold held as asset of Banking Department, 100.28 metric tonnes held in India and 413.79 metric tonnes held abroad

RBI transfers 100 tonnes of gold from UK to its domestic vaults in India

Reports say that another similar amount of gold could be en route to the country in the coming months

Bank frauds rise 166% in FY24 to over 36,000 cases, shows RBI annual report

RBI annual report: Amount involved in bank frauds decreased 46.7% in FY24 to Rs 13,930 cr

RBI's increased scrutiny of banks, financial firms leads to restrictions

Since 2020, the RBI has placed business restrictions on many players

S Korea's Shinhan Bank gets CCI nod to acquire 11% stake in HDFC Credila

The Competition Commission of India (CCI) has cleared South Korea-based Shinhan Bank's proposed acquisition of an 11 per cent stake in HDFC Credila Financial Services. Part of the Shinhan Financial Group, Shinhan Bank Co Ltd is a multinational bank, which commenced operations in India in 1996. "The proposed combination relates to the acquisition of up to approximately 11 per cent shareholding by Shinhan Bank in HDFC Credila by way of subscription to shares of HDFC Credila," CCI said in a release on Tuesday. HDFC Credila Financial Services, is a Reserve Bank of India (RBI)-registered non-deposit taking non-banking financial company. It is primarily engaged in the business of providing education loans in India and overseas. In another release, the competition watchdog granted its approval to Matrix Pharma to acquire 100 per cent stake in Tianish Laboratories. The acquisition will be funded in part by an investment proposed to be made by the investors in optionally convertible debent

RBI launches G-sec app, PRAVAAH portal: Here is all you need to know

'The launch of a mobile app for accessing the Retail Direct portal will provide greater convenience to retail investors and deepen the G-sec market,' said the RBI Governor

RBI shifts to NDFs as preferred forex reserves intervention option

The Reserve Bank of India (RBI) has traditionally been more active in the local over-the-counter (OTC) spot market to keep the rupee stable

Govt likely to cut bond sales aided by higher cash balance: Officials

The yield on benchmark 10-year bond was little changed at 7.09 per cent on Tuesday

India sees forex reserves as main tool to manage bond index inflows

The Reserve Bank of India plans to absorb the inflows and match the outflows using its near-record high $642 billion reserves

Gold price declines Rs 10 to Rs 72,810, silver rises Rs 100 at Rs 87,300

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 72,960, Rs 72,810, and Rs 72,970, respectively

Gold price declines Rs 10 to Rs 73,250, silver down Rs 100 at Rs 86,400

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 67,290, Rs 67,140, and Rs 67,240, respectively

Reserve Bank of India repurchases govt bonds worth Rs 10,512 crore

Most of the funds were picked up by state-owned banks and insurance companies, said market participants

Dollar swap option returns to India after RBI rule change for lenders

The central bank, effective Friday, expanded the range of products banks can offer to eligible corporates, which included swaptions, or an option to enter into an interest rate swap

India, Nigeria agree to early conclusion of local currency settlement

India and Nigeria have agreed to an early conclusion of a local currency settlement system agreement to further strengthen economic ties between the two countries. According to the department of commerce, a seven-member delegation from India led by Additional Secretary in the commerce ministry Amardeep Singh Bhatia visited Abuja, Nigeria for the second session of India-Nigeria Joint Trade Committee (JTC) on April 29-30. It was held after a gap of five years. Both sides have identified several focus areas to enhance bilateral trade and mutually beneficial investments. The sectors include crude oil, natural gas, pharmaceuticals, unified payments interface (UPI), local currency settlement system, power and renewable energy, agriculture and food processing, education, transport, railway, aviation, and MSMEs development. "Both sides agreed to the early conclusion of a local currency settlement system agreement to further strengthen bilateral economic ties," the department has said on ..

RBI plans curbs on suspect bank accounts to fight cyber fraud: Report

The suspensions would target accounts frequently misused to transfer funds gained from cyber crime, both government sources said

RBI to soon launch app for retail investors to participate in govt bonds

The Reserve Bank on Friday announced the launch of a mobile app to enable retail investors to participate in government securities (G-Secs) or government bonds market. RBI Retail Direct Scheme, launched in November 2021, gives access to individual investors to maintain gilt accounts with the RBI and invest in government securities. The Scheme enables investors to buy securities in primary auctions as well as buy/sell securities through the Negotiated Dealing System - Order Matching system (NDS-OM) platform. "To further improve ease of access, a mobile application of the Retail Direct portal is being developed. The app will enable investors to buy and sell instruments on the go, at their convenience. The app will be available for use shortly," RBI Governor Shaktikanta Das said, while announcing the first bi-monthly monetary policy for the current fiscal. The government is planning for gross market borrowing of Rs 14.13 lakh crore for 2024-25. Out of this Rs 7.5 lakh crore, or 53 per

RBI MPC FY25: Repo rate kept unchanged at 6.5% for seventh consecutive time

The RBI MPC has also decided to keep its stance of "withdrawal of accommodation" unchanged with a majority of 5-1

First FY25 RBI MPC meeting: When, where to watch RBI governor's speech

RBI monetary policy: The MPC decision will be announced by Shaktikanta Das at 10 am on Friday, followed by a press conference at noon

Services PMI registers strongest growth in 13.5 yrs, rises to 61.2 in Mar

In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction

'No change in RBI's stance on underlying exposure to forex derivatives'

The RBI had said in January that effective April 5, exchanges may offer forex derivative contracts involving the rupee to users "for the purpose of hedging contracted exposure"