Page 8 - Latest Updates on Reserve Bank of India
Be vigilant for concentrations in biz models: RBI Guv Das to bank boards
Says need to curb unethical practices such as mis-selling of products
 "Be vigilant for concentrations in biz models: RBI Guv Das to bank boards")
RBI to launch cloud services in 2025 to challenge global firm dominance
The burgeoning cloud services market in Asia's third largest economy was estimated at $8.3 billion in 2023 and is expected to grow to $24.2 billion by 2028
 "RBI to launch cloud services in 2025 to challenge global firm dominance")
Municipal bodies must impose proper user charges for facilities: RBI report
RBI report noted that fees and user charges represent important sources of revenue for all civic bodies, particularly in Maharashtra, Rajasthan, Gujarat, and Tripura
 "Municipal bodies must impose proper user charges for facilities: RBI report")
India's foreign exchange reserves drop $29 billion in the past six weeks
The week ended Nov 15 saw a decline of $6.48 billion, largely due to foreign investment outflows and a decline in the value of gold assets
 "India's foreign exchange reserves drop $29 billion in the past six weeks")
RBI asks shadow banks to give information on supply-chain financing
NBFCs may have to rework credit service typically used by small businesses
 "RBI asks shadow banks to give information on supply-chain financing")
Modest means: Time to strengthen and reimagine India's local bodies
To improve MC finances, interventions will be required at various levels. Most importantly, MCs will have to work on boosting their revenues
 "Modest means: Time to strengthen and reimagine India's local bodies")
Bank deposit growth may struggle to keep pace with credit momentum: S&P
Investors may seek higher risk premium for increased regulatory risk
 "Bank deposit growth may struggle to keep pace with credit momentum: S&P")
Piyush Goyal wants RBI to cut rates, questions food inflation-driven policy
RBI's Monetary Policy Committee has kept the repo rate at 6.5% since February 2023. Retail inflation hit a 14-month high in October
 "Piyush Goyal wants RBI to cut rates, questions food inflation-driven policy")
SBI, HDFC Bank, ICICI Bank continue to be systemically important: RBI
RBI had classified SBI and ICICI Bank as domestic systemically important banks (D-SIBs) in 2015 and 2016, respectively. In 2017, HDFC Bank was also classified as a D-SIB
 "SBI, HDFC Bank, ICICI Bank continue to be systemically important: RBI")
SBI, HDFC, ICICI remain Domestic Systemically Important Banks in 2024: RBI
The Central bank said the higher D-SIB surcharge for SBI and HDFC Bank will be applicable from April 01, 2025
Generative AI to add $359 bn-$438 bn to India's GDP by FY30: RBI DG Patra
Private sector banks are leading technology adoption, said Michael Debabrata Patra, deputy governor, Reserve Bank of India
 "Generative AI to add $359 bn-$438 bn to India's GDP by FY30: RBI DG Patra")
DBS Bank India awaits RBI nod for new CEO as incumbent Shome set to retire
Following a successful career at the helm of DBS Bank India since April 2015, Shome had indicated his desire to retire some time ago
 "DBS Bank India awaits RBI nod for new CEO as incumbent Shome set to retire")
October retail inflation hits 14-month high at 6.21%, food prices soar 11%
India's industrial output rose 3.1% year-on-year in September, driven by a rebound in manufacturing activity
 "October retail inflation hits 14-month high at 6.21%, food prices soar 11%")
DBS Bank nominates Rajat Verma to be next India unit CEO, say sources
Rajat Verma was appointed DBS managing director and head of institutional banking for India last year
RBI issues operational framework for reclassification of FPI to FDI
Currently, an investment made by foreign portfolio investor along with its investor group (FPI) should be less than 10 per cent of the total paid-up equity capital on a fully diluted basis
 "RBI issues operational framework for reclassification of FPI to FDI")
RBI ready to weaken rupee in line with yuan after Donald Trump win
A depreciating yuan will lower the cost of Chinese goods, potentially leading to more imports and further widening India's biggest trade deficit
 "RBI ready to weaken rupee in line with yuan after Donald Trump win")
Indian banks' microfin loan stress to persist after new regulation: Bankers
Last month, in its latest move, the RBI asked lenders to stop issuing new microfinance loans to borrowers unless they have cleared previous loans, three of the bankers said
 "Indian banks' microfin loan stress to persist after new regulation: Bankers")
Policy approach: How RBI is taking a selective and cautious stance
In the context of US elections and possible uncertainty, Mr Das said the Indian economy and the financial sector were well placed to deal with any spillover impact from global economy
 "Policy approach: How RBI is taking a selective and cautious stance")
SFBs ready with systems to make the transition, say CEOs at BS BFSI Summit
SFBs have a talent pool of senior managers with over 20 years of experience, ensuring robust succession planning for a professionally managed bank.
 "SFBs ready with systems to make the transition, say CEOs at BS BFSI Summit")
RBI 'watchful' of unsecured loan flows into stock market: Shaktikanta Das
RBI Governor Shaktikanta Das discusses the difficulty in monitoring unsecured loans at the Business Standard BFSI Insight Summit
 "RBI 'watchful' of unsecured loan flows into stock market: Shaktikanta Das")
