One Last Time: Is RBI MPC setting the stage for rate cuts soon?
RBI MPC October Meeting: The Reserve Bank of India shifts to a neutral stance while maintaining the repo rate at 6.5%. Experts anticipate a possible rate cut in December. The focus remains on controlling inflation and supporting growth amidst resilient economic conditions. Key decisions also include updates on GDP, inflation, and financial regulations. Key Points
Economic TimesRBI imposes monetary penalties on two payment system operators for KYC non-compliance
The penalties have been imposed on Manappuram Finance Limited and Ola Financial Services Pvt. Ltd. Key Points
ThePrintNo plans to allow business houses to promote banks: RBI Governor Shaktikanta Das
Governor Shaktikanta Das on Friday said the RBI does not have any plan to allow business houses to promote banks at present. Allowing corporate houses to... Key Points
The Tribune IndiaRBI maintains status quo for 8th time in a row; repo rate unchanged at 6.5 per cent
The repo rate increase cycle was paused in April last year after six consecutive rate hikes. The Reserve Bank of India on Friday decided to keep the policy... Key Points
The Tribune IndiaGovernment approves one-year extension to RBI Deputy Governor Rabi Sankar
The Indian government has extended the term of RBI Deputy Governor T Rabi Sankar for one year, effective May 3, 2024. Sankar, who joined the Reserve Bank in 1990, has worked in various positions at the central bank, including Executive Director of the Reserve Bank and IMF Consultant. He has also served as Chairman of Indian Financial Technology and Allied Services (IFTAS), member of ReBIT Board of Directors, and IDRBT Governing Council. Key Points
Economic Times
What RBI governor said on repo rate, inflation, GDP growth: Top points
RBI Repo rate: In the first MPC announcement in Financial Year 2024-25 (FY25), RBI governor kept repo rate unchanged at 6.5%. Key Points
Hindustan TimesRBI Monetary Policy Live Updates: Blame heat if Mint Street says no change
RBI Monetary Policy live updates: RBI is likely to keep interest rates unchanged today, with chances of an early cut fading after the government warned of a coming heatwave and the economy grew faster than expected. The benchmark repurchase rate is expected to be unchanged at 6.5% at the central bank's seventh straight policy meeting. Key Points
Business TodayRBI Monetary Policy 2024 LIVE Updates: RBI Governor Shaktikanta Das likely to keep repo rate unchanged
RBI MPC Meeting 2024 Live Updates: The RBI is widely expected to keep the key policy repo rate unchanged at 6.5% in its April monetary policy. Comments from the RBI Governor Shaktikanta Das will be keenly watched for any hints on future interest rate cuts. Key Points
MintRBI MPC announcements on April 5: FD investors likely to get more time to book fixed deposits at current h
RBI MPC announcements on April 5, 2024: Fixed Deposit (FD) investors will keenly watch the Reserve Bank of India's (RBI) first Monetary Policy Committee (MPC) meeting of the new financial year, scheduled for this week. RBI Governor Shaktikanta Das will unveil the MPC's decisions on interest rates on Friday, April 5, 2024. The repo rate, the benchmark interest rate set by the RBI, serves as a key determinant of FD interest rates. RBI monetary policy announcement is crucial for FD investors seeking clarity on the future trajectory of interest rates. How FD interest rates are likely to change in the next few months and how FD investors can make the most of this scenario Key Points
Economic TimesIf you don't get any rate cut this Friday from Shaktikanta Das & Co, blame it on the weather
The Reserve Bank of India will likely keep its benchmark repurchase rate at 6.5% for a seventh straight policy meeting. Key Points
Business Today
RBI MPC meet FY25: Repo rate to be same at 6.5%, say brokerages, banks
Foreign brokerages, Goldman Sachs and Morgan Stanley, have stated that the MPC may keep the repo rate on hold in the first half of the fiscal. They have predicted the first rate cut in the July-September quarter. Key Points
Business TodayRBI plans a special audit for breaches by IIFL Finance, JM Financial Products Ltd
RBI initiates special audit for IIFL Finance Ltd and JM Financial Products Ltd due to gold loan concerns. Inspection revealed deviations in gold assaying. Auction process impact customers' interests. Loan restrictions imposed by RBI. Key Points
Economic TimesRBI issues omnibus framework for recognising SROs for regulated entities
The omnibus framework prescribes the broad objectives, functions, eligibility criteria and governance standards, which will be common for all SROs, irrespective of the sector. The framework is the minimum requirement and the recognised SROs will be encouraged to develop their best practices, RBI said. Key Points
Economic TimesRBI draws contrast between demand for domestic FMCG & premium biz, says 'significant per capita income sh
The Reserve Bank of India forecasts a potential slowdown in the domestic FMCG sector in the next six months but highlights robust demand for premium consumer businesses. Despite the festival season, private final consumption expenditure remains low, and government consumption contracts. Capacity utilization across sectors prompts the need for new investments. Key Points
Economic TimesIIFL Finance will comply with RBI suggestions in gold loan biz by March 31: Chairman
AK Purwar, Chairman & Independent Director, IIFL Finance, says the company is committed to addressing the RBI's concerns regarding their gold loan business and aims to be fully compliant by March 31. They anticipate a temporary setback but expect to regain their growth path and market share in the co-lending space. Key Points
Economic Times
RBI bars JM Fin from doing any form of financing against shares & debentures after it finds 'serious defic
The Reserve Bank of India (RBI) has prohibited JM Financial Products from engaging in any form of financing against shares and debentures due to serious deficiencies found during a review of its books. This includes the sanctioning and disbursing of loans against initial public offerings (IPOs) and subscriptions to debentures. JM Financial Products has been allowed to service existing loan accounts through the usual collection and recovery process. Key Points
Economic TimesIIFL Finance asked to stop sanctioning, disbursing gold loans after RBI finds ‘material supervisory concer
The Reserve Bank of India (RBI) directed IIFL Finance to halt sanctioning and disbursing gold loans immediately due to material supervisory concerns in the company's gold loan portfolio. However, IIFL Finance can continue servicing its existing gold loan portfolio. The RBI stated that these supervisory restrictions would be reviewed after the completion of a special audit, subject to the company's rectification of audit findings to the RBI's satisfaction. Key Points
Economic TimesPaytm share tanks 10%, closes at Rs 380
New Delhi: Shares of One97 Communications, which owns the brand Paytm, tanked 10% on the exchanges on Tuesday after RBI ruled out any review of the... Key Points
The Tribune IndiaRBI lists challenges in tackling inflation
Flags food price shocks, geopolitical tensions. Reserve Bank Governor Shaktikanta Das on Thursday warned that the fight against inflation has not yet ended... Key Points
The Tribune IndiaPaytm Payments Bank crisis: RBI releases Paytm FAQs, details here
The Reserve Bank of India addressed concerns about Paytm's banking unit by releasing FAQs, covering topics like withdrawals, refunds, and salary credits. Customers can use, withdraw, or transfer funds up to their available balance until March 15. After that date, no new deposits are allowed, but refunds, cashbacks, and interest can still be credited. Key Points
Economic Times
RBI review: A policy pivot is not on the central bank’s cards
strapline: Inflation uncertainty means an extended wait for a shift in RBI’s stance that could lead to a rate cut. Luckily, policymakers are placed well to keep their focus firmly on price stability. Key Points
mintRBI's Shakti: For central bank, Paytm action is not an exception but a rule
Paytm crisis: The Reserve Bank of India (RBI) has been cracking down on financial entities in recent years, and the action taken against Paytm is in line with its regulatory processes. The RBI has previously taken disciplinary action against HDFC Bank, Bajaj Finance Limited, and Bank of Baroda for various non-compliance issues. The RBI's message is clear: any signs of stress or breach will invite scrutiny, and if corrective actions are not taken, regulatory restrictions will be imposed. Key Points
Economic TimesRBI MPC meeting live updates: Will Paytm find a mention in rate reading today?
RBI MPC meeting live updates: Paytm is in the RBI’s crosshairs after persistent non-compliance and supervisory concerns, with the company at risk of losing its license. While the MPC statement, which is most likely going to be status quo, is unlikely to address the issue directly, Governor Shaktikanta Das will likely face questions during his press briefing. Key Points
Business TodayWill Sitharaman’s ‘fiscally prudent’ Budget prompt RBI’s MPC to make moves, re-adjust stance?
RBI MPC Meeting: RBI's rate-setting panel, known as the Monetary Policy Committee (MPC), is expected to keep the repo rate unchanged at 6.5 percent. Economists predict that there may be a change in stance from 'withdrawal of accommodation' to 'neutral'. According to an ET Poll of 12 economists, significant rate adjustments are not expected. However, some economists suggest that a fiscally prudent budget and global monetary easing could influence the central bank to adjust its stance on liquidity. Key Points
Economic TimesFD investors: Final call to book fixed deposits at high interest rates? All eyes on RBI MPC meeting on Feb
Fixed deposit interest rate: The Reserve Bank of India (RBI) will announce the decisions of the central banks Monetary Policy Committee (MPC) on February 8, 2024. The central bank is likely to hold the repo rate again in the upcoming monetary policy review, experts say. But this stance may not continue for too long. How does the decision of the RBI MPC impact the investors, especially fixed deposit (FD) customers? Key Points
Economic Times
RBI MPC meeting 2024: What to expect from the Central Bank on Feb 8? Here's what experts said
RBI MPC meeting: The RBI MPC has maintained the repo rate at 6.5 per cent for five consecutive times till December 2023. The benchmark interest rate was last hiked in February 2023, when it was raised from 6.25 per cent to the present 6.5 per cent. Key Points
Business TodayRBI may hold rates this week, a year after last hike
India Business News: Read the latest news on RBI's monetary policy committee meeting and the possibility of a rate cut. Stay informed about the global supply chain disruption and its impact on Indian sea imports. Key Points
Times Of IndiaRBI cautions against KYC related frauds
India Business News: The RBI has cautioned the public against ongoing frauds perpetuated under the guise of know your customer updation. In KYC frauds, scammers often use unsolicited communication like calls, texts, or emails to trick customers into sharing personal details, account/login information, card details, PIN or OTP. Key Points
Times Of IndiaKYC-update frauds get RBI attention: Know how scams happen, how to protect yourself
KYC Updation Fraud: The Reserve Bank of India (RBI) has cautioned individuals about KYC updation frauds which has been ongoing lately. An individual is required to periodically update their KYC with their banks as per specified timelines. However cybercriminals are targeting gullible individuals in the name of KYC updation and hence if an individual is not cautious it can lead to financial loss. Key Points
Economic TimesNo trading in government bonds, foreign exchange and money markets on January 22: RBI
The 3-day variable rate repo (VRR) auction conducted by the RBI on Friday, which is scheduled to reverse on January 22, will now be reversed on January 23. Meanwhile, a 3-day VRR auction that the RBI had earlier said would be conducted on January 22 stands cancelled and instead a 2-day VRR auction will be carried out on January 23. Key Points
Economic Times
RBI issues draft norms on fintech SROs
The RBI has invited applications for a self-regulatory organization (SRO) for fintech firms, either for the entire sector or for specific sub-sectors. The number of SROs to be recognized will be based on the number and nature of applications received. Key Points
mintLiquidity issues can still hurt some NBFCs
The RBI has warned that 34 NBFCs may face stress in extreme liquidity conditions if they face negative cumulative mismatch in liquidity over the next year. The top 50 NBFCs have seen a shift towards longer-term funding sources and a decrease in short-term borrowing, with 76% of bonds having a residual maturity of up to five years in September 2023. Key Points
Economic TimesRBI flags contagion risk, says stress in NBFC sector assessed to be higher than in March 2023
The Reserve Bank of India (RBI) stated in its Financial Stability Report that while macro stress tests show banks would comply with minimum capital requirements under severe stress scenarios, the non-banking financial company (NBFC) sector faces higher stress relative to March 2023. The RBI emphasized proceeding with caution on the evolving outlook and risks. Key Points
Economic Times‘The biggest perk is the house’: Raghuram Rajan says his salary was Rs 4 lakh per year as RBI Governor
"You don’t get other perks that government officials get, you don’t get a pension. But you get I think medical facilities," said ex-RBI Governor Raghuram Rajan in a podcast. Key Points
Business TodayRBI monetary policy committee decisions today. What to expect? Details here
RBI governor Shaktikanta Das will unveil the MPC decision around 10am on Friday. After the decision, Das will address a post-policy press conference. Key Points
Hindustan Times
Can India's central bank be a lone wolf on policy measures as US mulls rate cut?
The Reserve Bank of India's Monetary Policy Committee (MPC) is expected to keep benchmark lending rates unchanged for the fifth consecutive time. The relatively favorable macroeconomic indicators in India, with easing retail inflation and a GDP growth rate of 7.8% in Q2FY24, provide confidence to chart its own path, independent of US Federal Reserve, European Central Bank and Bank of Japan Key Points
Economic TimesRBI Retail Direct: NACH facility now available for investing in government bonds, T-bills; how it is bette
Reserve Bank of India has enabled payments through National Automated Clearing House (NACH) in the Retail Direct Website. Now an investor can place bids for various government bonds, treasury bills, state development loans and sovereign gold bonds (SGBs) using NACH facility on RBI Retail Direct Website. Read below to know how does it work. Key Points
Economic TimesRBI Assistant result 2023 awaited, where and how to check it
When announced, candidates can check it on opportunities.rbi.org.in under the results tab. Key Points
Hindustan TimesWhy does the RBI invoke the Mahabharata? What does it have to do with inflation and growth?
Reserve Bank of India Governor Shaktikanta Das uses the Mahabharata's character Arjuna to explain interest rate decisions, despite the complexity of the drivers and the difficulty in communicating them. This is not the first RBI Governor to use this analogy. ET explains why the RBI invokes the Mahabharata and what the reference has to do with inflation and growth. Key Points
Economic TimesBanks to need Rs 84,000 cr excess capital due to RBI tweaks on unsecured loans: SBI Economists
In a recent report from the State Bank of India (SBI), economists have highlighted that the banking system in India is anticipated to require an additional Rs 84,000 crore of excess capital. This need arises from the revised risk weights on unsecured loans, as introduced by the Reserve Bank of India (RBI). The SBI economists, in their analysis released on Friday, also noted that the RBI is currently employing liquidity and macro prudential measures to attain the desired objectives of growth and inflation. Furthermore, they emphasized that the repo rates have reached their peak. Key Points
Economic Times
Investments and festive boost to lift Q3 GDP: RBI
Indias gross domestic product (GDP) expanded 7.8% in the first quarter of FY24, through which the RBI expects the economy to grow 6.5%. An ET poll of economists has pegged the second-quarter growth rate at 6.7%. Several global economic think-tanks expect India to be the growth driver through this year and the next although global trade remains rather shaky, posing expansion challenges for several competing high-growth economies. Key Points
Economic TimesRupee falls to 83.2850/USD, lowest in one year
But likely intervention from the Reserve Bank of India (RBI) capped further losses, traders said. The RBI likely sold U.S. dollars near 83.28 levels but the intervention was not aggressive, a foreign exchange trader at a private bank said. Key Points
Economic TimesRBI likely to have rolled over a part of $5-billion forex swap to boost liquidity
On April 28, 2022, the RBI concluded a sell-buy foreign exchange swap under which banks bought US Dollars from the central bank and simultaneously agreed to sell the same amount of dollars at the end of the swap period. The maturity of the swap, which was due on October 23, would have released around ₹40,000 crore into the banking system as purchases of dollars by the RBI inject rupee liquidity into the banking system. Key Points
Economic TimesRs 2,000 notes: List of 19 RBI regional office, addresses where you can exchange Rs 2,000 notes now
Deposit or exchange of Rs 2000 at bank branches is stopped. Now it can be deposited only through RBI regional offices having Issue Departments. It can also be exchanged by individuals, entities at the 19 RBI Issue Offices up to a limit of Rs 20,000 at a time. Key Points
Economic TimesHow to get Rs 2000 notes deposited, exchanged after October 7 deadline
The Reserve Bank of India (RBI) has not extended the deadline to deposit, exchange Rs 2000 after the deadline to do so expired on October 7, 2023. However there is no need to panic or worry as there is an alternative way using which people can still exchange, deposit their Rs 2000 notes even now. Key Points
Economic Times
Last date to deposit, exchange ₹2,000 notes today; What's next if October 7 deadline is missed?
The deadline for depositing/exchanging ₹2,000 banknote notes is today i.e. on 7 October. Earlier, the RBI had extended the 30 September deadline to exchange and deposit ₹2,000 notes till October 7, 2023. Key Points
mintMPC ready to take steps to align inflation to RBI's 4% target: Das
The Reserve Bank of India (RBI) has decided to maintain its current interest rates, with the repo rate remaining at 6.5%. The decision comes as the ec Key Points
Times Of India87 pc of Rs 2,000 notes back in banks, Rs 12,000 cr of currency yet to return, says Shaktikanta Das
Reserve Bank Governor Shaktikanta Das announced that 87% of the Rs 2,000 denomination notes being withdrawn have been returned as bank deposits, while the rest has been exchanged. He also stated that Rs 12,000 crore worth of Rs 2,000 notes are yet to come back. The RBI is focusing on the 4% inflation target and will maintain an actively disinflationary monetary policy until inflation decreases. The RBI flagged the issue of personal loans and urged banks to take steps to prevent any risk build-up. Gross non-performing assets have improved in the June quarter. Key Points
Economic TimesQuick, easy personal loans may become difficult now as RBI tells banks, NBFCs to be more careful
Alarmed by very higher growth in the disbursal of personal loan in past few quarters, RBI has cautioned banks and NBFCs against quick and easy personal loans and has asked lenders to implement strong underwriting norms. As a result lenders will have to bring in tougher underwriting norms which will make getting a personal a little difficult for the borrowers. Key Points
Economic TimesIndian stocks in green ahead of RBI monetary policy outcome
New Delhi [India], October 6 (ANI): Indian stock indices extended gains from the previous session, with financial market participants closely monitoring the outcome and the policy stance of the central bank RBI to be announced at 10 am Friday, for fresh cues. Benchmark indices — Sensex and Nifty — were 0.3 per cent higher each […] Key Points
ThePrint
RBI keeps repo rate unchanged at 6.5%
India Business News: The Reserve Bank of India (RBI) has decided to keep the repo rate unchanged at 6.5% for the fourth consecutive time. The RBI governor, Shaktikanta Das Key Points
Times Of IndiaBanking system liquidity in deficit as incremental cash reserve ratio kicks in
Daily central bank data showed that the RBI injected funds worth ₹23,644.4 crore into the banking system on August 21, marking the first infusion of cash since March 27. An injection of funds by the RBI reflects deficit liquidity conditions in the banking system. Key Points
Economic TimesRBI has taken a pragmatic approach on repo rate: EEPC India chairman
The RBI has underlined the daunting challenges faced by the global economy and its impact on India. The current business environment necessitates stability in finance costs, especially for exporting community, and calls for measures to reduce them. Key Points
Economic TimesMPC meet: No impact on EMIs as RBI keeps repo rate unchanged at 6.5%
India Business News: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% for the third time in a row. The decision was unanimous, according to RBI Chi Key Points
Times Of IndiaRBI monetary policy: Gov Shaktikanta Das expected to hold rates at 6.50%; what experts say
RBI MPC announcements: Governor Shaktikanta Das is expected to retain rates at 6.50 per cent, while maintaining the stance of withdrawal of accommodation. Key Points
Business Today
RBI may tighten cash conditions, but CRR hike unlikely- Traders
The Reserve Bank of India may look to tighten domestic rupee liquidity to quell inflationary pressures but will refrain from permanent cash withdrawal, several traders and analysts said ahead of Thursday's monetary policy review. The central bank is expected to hold policy rates steady but could turn more hawkish given that inflation in July is likely to have risen above its comfort band. Key Points
Economic TimesWill tomato prices push RBI to hike rates? Check old footprints of onion & potato
While tomato prices increase almost every June-July, potato prices increase after every two years and onion prices rise after every 2.5 years. Given the seasonal nature of price shocks and the fact that these spikes fizzle out within a few months, the RBI has mostly refrained from making its decision while looking at the vegetable basket. Key Points
Economic TimesRupee gains 6 paise to close at 82.75 against US dollar as crude oil weakens
Mumbai, Aug 7 (PTI) The rupee gained 6 paise to close at 82.75 against the US dollar on Monday, tracking positive domestic equities and lower crude oil prices. However, sustained foreign fund outflows and a stronger American currency in the overseas market dented investor sentiments, forex traders said. At the interbank foreign exchange market, the […] Key Points
ThePrintSC rejects plea against exchange of Rs 2,000 notes without ID proof
The Supreme Court in India has rejected a notion against the Reserve Bank of India's (RBI) circular that permits exchange of INR 2,000 ($31) notes without identification. The high court had previously dismissed the plea. Lawyer Ashwini Kumar Upadhyay argued the notifications by the RBI and SBI permitting the exchange of INR 2,000 notes without proof were arbitrary and against the laws designed to reduce corruption. Key Points
Economic Times