Page 4 - Latest Updates on Reserve Bank of India
Bad loans in P2P more than doubles to Rs 1,163 cr in FY24: Report
RBI tightened its guidelines for P2P lending in Aug, flagging regulatory violations by some platforms
 "Bad loans in P2P more than doubles to Rs 1,163 cr in FY24: Report")
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
 "RBL Bank re-appoints R Subramaniakumar as MD & CEO for a period of 3 years")
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
 "Domestic, global headwinds challenge RBI's forex intervention efforts")
RBI raises collateral-free agricultural loan limit to Rs 2L to aid farmers
Banks have been instructed to implement the guidelines swiftly and ensure widespread awareness about the new loan provisions
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
 "India's foreign exchange reserves decline to 5-month low of $654.8 billion")
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
 "Credit grows at 10.6% and deposits at 10.7% in November 29 fortnight")
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
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
 "Punjab & Sind Bank plans to raise Rs 3,000 cr from infra bonds this month")
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
 "Rate cut unlikely in Feb review or in FY26: Axis Bank's Neelkanth Mishra")
'Credit card delinquencies rise in June even as issuance growth drops'
According to CRIF Highmark report, highest delinquency was in credit cards with limits less than Rs 50,000
 "'Credit card delinquencies rise in June even as issuance growth drops'")
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
 "Stability, trust, and growth key: RBI Guv Sanjay Malhotra in first address")
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
 "Sanjay Malhotra assumes charge as new RBI governor amid economic challenges")
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
 "Stable govt, GDP growth to help India get FPIs: Barclays' Prez Dainton")
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
 "Rupee likely to maintain downward drift, RBI counted on to cap losses")
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
 "Packing and labelling imported goods don't confer Indian-origin status")
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
 "Civil servants at Mint Road: A legacy of leadership at the RBI helm")
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
 "Will do what is best for economy, says incoming RBI guv Sanjay Malhotra")
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
 "India set for resilient growth in 2025 driven by urban consumption: S&P")
Burmans get RBI nod for 26% Religare stake offer, await Sebi approval
The RBI grants conditional approval for the Burman family's 26% stake offer in Religare, with restrictions on board changes. Sebi approval is still pending amid valuation disputes
 "Burmans get RBI nod for 26% Religare stake offer, await Sebi approval")
