Page 32 - Latest Updates on Reserve Bank of India
RBI mandates offline payment aggregators to verify KYC for merchants
Payment aggregators will need to conduct Contact Point Verification and verify the bank account where funds of small merchants are settled
 "RBI mandates offline payment aggregators to verify KYC for merchants")
India not reaping benefits of its demographic dividend: Raghuram Rajan
Earlier in his presentation, Rajan said regardless of whether one picks services, manufacturing, agricultural construction, India has a problem
 "India not reaping benefits of its demographic dividend: Raghuram Rajan")
Top financial regulators plan panel to weigh risks in derivatives market
The panel will be set up by the Financial Stability Development Council, which includes the finance minister, the central bank governor and the market regulator, the sources said
Banks can't charge additional than key facts statement, says RBI
KFS is a statement of key facts of a loan agreement, in simple and easier-to-understand language, provided to the borrower in a standardised format
 "Banks can't charge additional than key facts statement, says RBI")
ETCD directives don't go well with RBI's stellar reputation
The RBI move goes against the trend of allowing more flexibility and therefore, retrograde
 "ETCD directives don't go well with RBI's stellar reputation")
Terms of contract override sales pitch
The SC said that Monga could not be allowed to question the interest rate after having acquiesced by signing the loan agreement
 "Terms of contract override sales pitch")
Taxpayers will need 100 yrs to match richest candidate's annual earnings
Income disparity seen across state and national figures
 "Taxpayers will need 100 yrs to match richest candidate's annual earnings")
March retail inflation eases to 10-mth low of 4.85%; IIP grows 5.7% in Feb
But remains well above RBI's 4 per cent target
 "March retail inflation eases to 10-mth low of 4.85%; IIP grows 5.7% in Feb")
Election season may hit govt capital expenditure spending, FDI inflows
In case of FDI, the total FDI inflows was over $50 billion in FY20 and its share during the election months of April-May 2019 turned out to be 18.1 per cent
 "Election season may hit govt capital expenditure spending, FDI inflows")
Forex derivatives fiasco puts spotlight on regulatory risk in India
Zerodha Broking Ltd. warned its clients to close open positions and cautioned about liquidity drying up
 "Forex derivatives fiasco puts spotlight on regulatory risk in India")
Borrowing to consume
Consumption-based borrowing by the household sector makes investment capital even more expensive
 "Borrowing to consume")
Centre, states need to come together on big reforms in labour, land: CII
A survey by CII, he further said, expects the Reserve Bank of India to cut benchmark interest growth in the second quarter (July-September). The RBI has been holding the repo rate at 6.5%
 "Centre, states need to come together on big reforms in labour, land: CII")
Govt focus on infra to nurture sustained revival in investment: RBI report
The report further said that while the fixed investment and the lower drag from net external demand propelled real GDP growth, private consumption received support from steady urban demand
Red Sea crisis: RBI, Irdai called in to help limit impact on Indian exports
The Ministry of Finance urged these entities to monitor disruptions that could potentially drive up India's export expenses
 "Red Sea crisis: RBI, Irdai called in to help limit impact on Indian exports")
Consumer price inflation likely eased to 5-month low of 4.91% in March
RBI Governor Shaktikanta Das said last week that food price volatility remains a concern
 "Consumer price inflation likely eased to 5-month low of 4.91% in March")
India's consumer price inflation likely eased to 4.91% in Mar: Reuters poll
Inflation was expected to return to the RBI's target next quarter but be above it in subsequent quarters, according to a separate Reuters survey on the longer-term outlook
 "India's consumer price inflation likely eased to 4.91% in Mar: Reuters poll")
RBI imposes curbs on Shirpur Coop Bank over declining financial position
The restrictions on The Shirpur Merchants' Co-operative Bank will remain in force for six months from the close of business on April 8, 2024, the RBI said
 "RBI imposes curbs on Shirpur Coop Bank over declining financial position")
RBI's status quo on repo rate to impact retail auto sales, says Fada
But says govt spending, expected good monsoon may support demand
 "RBI's status quo on repo rate to impact retail auto sales, says Fada")
Overnight swaps suggest RBI likely to hold interest rates through 2024
OIS markets reflect interest rate expectations, with higher rates indicating elevated interest rates for a longer period
All the RBI's men
As the Reserve Bank celebrates its 90th birthday, the concluding part of a two-column series offers a peek into the lives and works of its governors over the past three decades
