Large non-banking finance companies (NBFCs) are likely to be more intensely regulated and their lending to sensitive sectors like capital markets and real estate capped if the RBI were to implement proposals that it has put forward in a discussion paper.
RBI | azlyrics.org.uk
Forecasting a V-shaped recovery, Reserve Bank of India has said that if growth momentum continues and inflation stays benign there would be room for policy action to support growth.
India’s gross domestic product (GDP) is within the striking distance of attaining positive growth, the Reserve Bank said observing that the letter “V” in the V-shaped recovery stands for vaccine. The government launched the world’s biggest vaccination drive on January 16 to protect people from Covid-19.
The Reserve Bank of India (RBI) on Tuesday said state-owned SBI, along with private sector lenders ICICI Bank and HDFC Bank continue to be domestic systemically important banks (D-SIBs) or institutions which are ‘too big to fail’.
If there is any proposal on bad banks, the Reserve Bank of India (RBI) will examine the proposal, RBI governor Shaktikanta Das during 39th Palkhiwala Memorial lecture on Saturday.
The race to acquire scam-hit Punjab and Maharashtra Co-operative Bank (PMC) is heating up. Payments startup BharatPe and financial service firm Centrum are set to submit an aggressive bid to the RBI.
RBI governor warns of high asset prices
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Reserve Bank of India (RBI) governor Shaktikanta Das on Monday warned that there is a growing disconnect between certain segments of financial markets and the real economy, and stretched valuations pose a risk to financial stability.
RBI governor Shaktikanta Das on Monday said that the economic prospects have been scarred by the Covid-19 pandemic and the task ahead is to restore growth and livelihood. “Financial stability is a precondition for supporting this (growth) mission,” he added. He also said that expansion in the govt’s market borrowing programme after Covid has imposed … Continue reading Task ahead is to restore eco growth: RBI governor
The government had no outstanding loans with the central bank under ways and means advances in the week ended January 1, according to the Reserve Bank of India’s weekly statistical supplement released on Friday.
Currency in circulation (CIC) went up by a record Rs 5 lakh cr in 2020 as Indians joined the global dash for cash in the wake of Covid-19. With GDP expected to shrink by 7.5% in FY21, the currency-to-GDP ratio could cross 15%. As per RBI, the 22% increase between January 1, 2019, and January … Continue reading Currency in circulation up by Rs 5L crore in 2020
In a big boost for digital payments, the RBI has announced a fund that will subsidise deployment of card-acceptance devices and QR codes in tier-3 to tier-6 towns and in the northeast. The Payments Infrastructure Development Fund (PIDF), which currently stands at Rs 345 crore, will go up further with contributions from banks yet to … Continue reading RBI’s Rs 350cr subsidy to add 10L card machines
The Reserve Bank on Tuesday said Payments Infrastructure Development Fund has been operationalised to create 30 lakh new touch points every year for digital payments in Tier-3 to Tier-6 centres.
RBI comes up with Digital Payments Index
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The Reserve Bank of India (RBI) on Friday said it has constructed a composite Digital Payments Index (DPI) with March 2018 as the base period to capture the extent of digitisation of payments across the country.
The Reserve Bank of India (RBI) has said that it will start using SupTech (supervisory technology) and RegTech — a subset of fintech that uses technology to scale up supervision — to keep up with the entities it regulates.
The Reserve Bank of India (RBI) acted proficiently during the year to mitigate the impact of the Covid-19 pandemic on the economy. From extending rate cuts, to announcing three-month repayment moratorium on loan repayments and an assured liquidity support through the targeted long term repo operations, the central bank undertook various measures to maintain growth.
A report by RBI noted that the proportion of gross non-performing assets (NPAs) of urban co-operative banks saw a rise in FY20 to 10.8 per cent as against 7.3 per cent in the previous year. The combined losses amounted to Rs 4,806 crore for FY20 as against a profit of Rs 3,544 crore, majorly because … Continue reading RBI says NPAs rise in urban co-op banks, losses balloon up
The Centre and state governments need to continue with the counter-cyclical fiscal measures to sustain the momentum of economic growth which went through a rough patch following the outbreak of the coronavirus pandemic, according to a Reserve Bank of India (RBI) article.
RBI cautions against loans given on apps
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Following cases of suicide over alleged harassment by recovery agents of entities that provided loan over mobile apps, the RBI has cautioned against such loans and has asked aggrieved NBFC borrowers to file complaints on its portal.
As economic activities gather momentum and strive to get back to pre-Covid levels, Reserve Bank of India has said that the Indian economy is reflating at a pace higher than most predictions. The monthly bulletin of the central bank for Dec said more evidence has emerged since the last bulletin which shows that the Indian … Continue reading Indian economy reviving at unforeseen pace: RBI
The Supreme Court has sought responses from shareholders of the nearly 100-year-old Lakshmi Vilas Bank (LVB) on a petition by the Reserve Bank of India (RBI) seeking consolidated hearing of petitions. These have been filed before four high courts, challenging the merger of LVB with the Indian subsidiary of Singapore’s DBS Bank.
Reserve Bank of India (RBI) governor Shaktikanta Das has asked banks to take proactive measures to strengthen their resilience and lending capacity by raising capital, the central bank said in a statement on Wednesday.
The Reserve Bank of India (RBI) on Wednesday cautioned the general public against unauthorised lending platforms and mobile apps. In an official release, RBI said that there have been reports about people falling prey to digital lending scam in order to get quick and hassle free loans.
Kotak Mahindra Bank’s promoter and CEO Uday Kotak has been cleared for reappointment by the RBI along with his deputy MD and chairman for three years. The second-most valuable private bank informed the stock exchanges that the regulator had on Monday approved the re-appointment of Kotak as MD & CEO, Prakash Apte as part-time chairman, … Continue reading RBI allows Kotak to lead bank for three more years
A relentless torrent of funds rushing into India’s markets may tip the central bank’s delicate balancing act in 2021. For most of this year, the Reserve Bank of India has capped currency gains as global investors poured around $50 billion into stocks and stakes in companies.
With a view to effectively deal with increasing circulation of banknotes, the Reserve Bank of India (RBI) has decided to set up an Automated Banknote Processing Centre (ABPC) in Jaipur for receipt, storage and dispatch of currency notes.
The Reserve Bank of India (RBI) on Friday decided to keep key lending rates unchanged in its December policy review meeting. The six-member monetary policy committee (MPC), headed by governor Shaktikanta Das, kept repo rate unchanged at 4 per cent while maintaining accommodative stance.
Reserve Bank of India (RBI) on Friday said it expects the economy to record positive growth in the second half of the current financial year. The economy contracted by 23.9 per cent in the first quarter and 7.5 per cent in the second quarter on account of the Covid-19 pandemic.
The Reserve Bank of India (RBI) on Friday said retail inflation is likely to remain elevated and pegged it at 6.8 per cent for the third quarter of the current fiscal. RBI governor Shaktikanta Das said the Monetary Policy Committee (MPC) is of the view that inflation is likely to remain elevated, barring transient relief … Continue reading RBI projects 6.8% retail inflation in Dec quarter