An ecosystem needs to be built for the retail adoption of the e-Rupee, like cashbacks on UPI apps, which are a great pull for the user, say experts.
During the week ending November 25, the forex reserve rose $2.89 billion to $550.14 billion.
RBI clarified in the statements that the penalties are not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.
On the policy front, he expects a 35-bps hike, taking the repo rate to 6.25%. Also, beginning December, he sees the pace of rate hikes in the US slowing down.
The foreign branches/foreign subsidiaries of Indian banks/AIFIs can deal in financial products, including structured financial products, which are not available or are not permitted by the Reserve Bank in the domestic market without its prior approval
The VRRR is usually undertaken to withdraw access liquidity from the system. Currently, the liquidity in the banking system is in surplus of around Rs 1.2 lakh crore.
A strong two-thirds majority said it was still too soon for the central bank to take its eye off inflation, which slowed to 6.77% in October having stayed above the upper end of the RBI's 2-6% tolerance band all year.
While the exact number of cryptocurrency investors and the scale of investments in India is not clear, in all likelihood the Indian investor community has not faced the brunt of crypto meltdown as have the investors in other countries
Financial benchmarks, used as references for pricing, valuation and settlement of financial instruments, are a key driver of the price integrity of financial markets
The RBI has clarified that the penalties are not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.
Since December 2020, bank branches in metropolitan centres have been recording higher annual growth than those in rural, semi-urban and urban areas
In the past two weeks, some banks have raised more than Rs 5,000 crore through bonds of various tenures. Going forward, IDFC First Bank, Kotak Mahindra Bank, Bank of India and J&K Bank are expected to mop up funds from the market.
The uptick in the foreign exchange reserves is a result of the rise in the Foreign Currency Assets (FCA), which is a major component of the overall reserves.
The amount raised by way of unlisted bonds between April and September this year was Rs 20,413 crore, compared to Rs 53,176 crore over the same period last year.
Regulators around the world have already taken or are contemplating a variety of steps and policy measures to contain and manage the risks arising from big techs’ linkages with the banking and financial services sector
"(The rupee) will depreciate a bit to 83 per dollar or so in the first half of 2023, but should strengthen after that," noted Ashima Goyal, External member RBI MPC.
The CEO believes India's growth story is intact, offering opportunities in fixed income and equities, and external factors may delay but not derail it
The validity of the directions was extended from time-to-time, the last being up to November 24, 2022
Dealers expect that India will try to increase its US Treasury holdings as these notes will be attractive even after their yields ease.
In the previous week's auction, the cut-off yield on T-Bills eased after rising for consecutive weeks. The cut-off yield on the 91-day T-Bill fell by 4 bps, while on the 182-day and 364-day T-bills it fell by 8 and 10 bps, respectively.
The Inspection Report and Risk Assessment Report of the bank based on its financial position as on March 31, 2021 revealed non-compliance with specific directions issued to the bank by RBI under Supervisory Action Framework (SAF), the RBI said.
The Governor added that in a world increasingly defined by the acronym `Vuca' (volatility, uncertainty, complexity, ambiguity), many of the backward-looking models that run on past data may not be able to provide useful insights for policy.
According to experts, with a few more rate hikes expected this fiscal, issuers are looking to shift some of their borrowings to NCDs to lock-in fixed coupon rates
New sources of risk such as a return to the old pension system, and mounting overdue of power discoms could push many states to a fiscal precipice