Page 13 - Latest Updates on Reserve Bank of India
RBI seeks granular data from NBFCs, wants to check lending standards
Purpose is also to check if interest rates being charged are in line with far practices code
 "RBI seeks granular data from NBFCs, wants to check lending standards")
RBI Guv headed FSDC reviews overall macroeconomic, financial developments
It also reviewed issues relating to inter-regulatory coordination in the Indian financial sector, the RBI said in a statement after the 31st meeting of the FSDC Sub-Committee
 "RBI Guv headed FSDC reviews overall macroeconomic, financial developments")
Rupee inches closer to 84 against dollar on high greenback demand
Closes at new loan of 83.99/$
 "Rupee inches closer to 84 against dollar on high greenback demand")
Provide more employment opportunities to women, RBI Guv Das tells banks
In his inaugural address at the Annual FIBAC 2024 Conference organised jointly by Ficci and IBA, Das said India's female labour force participation remains lower than the global average
 "Provide more employment opportunities to women, RBI Guv Das tells banks")
Russian funds in Indian vostro accounts fall to $3.5 bn: What is their use?
Russian funds in Indian rupee vostro accounts have halved to $3.5 billion in 12-15 months. Vostro accounts, introduced in July 2022 in India, facilitate rupee trade
 "Russian funds in Indian vostro accounts fall to $3.5 bn: What is their use?")
India's shrinking balance of payments surplus keeps rupee near record lows
RBI has been regularly intervening in the forex markets on both sides, leading to rupee holding a narrow range
 "India's shrinking balance of payments surplus keeps rupee near record lows")
RBI board reviews global, domestic economy, associated challenges
The Board also reviewed various areas of operations of the Reserve Bank of India including the functioning of Local Boards and activities of select central office departments, RBI said
 "RBI board reviews global, domestic economy, associated challenges")
Room for rate adjustments if food inflation decreases: Viral Acharya
Acharya explains why food inflation should not be excluded from the inflation targeting framework
 "Room for rate adjustments if food inflation decreases: Viral Acharya")
Rupee at closing low; RBI intervention prevent from touching 84 per dollar
The local currency settled at 83.97 per dollar on Tuesday, almost flat compared to the previous close. The previous record low of 83.97 was hit on August 13 of the current year
Rupee drops to record low amid negative global cues, RBI support aids
Over the last month, there were several instances when the Reserve Bank of India intervened on both sides of the forex market to support the currency
 "Rupee drops to record low amid negative global cues, RBI support aids")
High loan-deposit ratio not a concern, deposit growth not weak: Report
The research note has also contradicted the recent narrative that deposit growth in the banking system has been sluggish
 "High loan-deposit ratio not a concern, deposit growth not weak: Report")
Banks to maintain real-time fraud list, more than 3,000 entities listed
Lenders would be required to consult this list before engaging with these entities and continuously update it
 "Banks to maintain real-time fraud list, more than 3,000 entities listed")
A 'unified lending interface' carries great potential, but is also risky
India's model for financial interconnectedness is based around what it calls digital public infrastructure
 "A 'unified lending interface' carries great potential, but is also risky")
World Bank follows IMF. Revises India's FY25 GDP growth forecast to 7%
The International Monetary Fund had earlier also raised India's growth forecast to 7 per cent for the financial year 2024-25 (FY25), following the conclusion of general elections in the country
 "World Bank follows IMF. Revises India's FY25 GDP growth forecast to 7%")
Households set to rebuild financial assets as income rises: RBI's Patra
He noted that the rebuilding process has already begun, with household savings increasing from an average of 10.6 per cent between 2011 and 2017 to 11.5 per cent during 2017-2023
 "Households set to rebuild financial assets as income rises: RBI's Patra")
Lenders' deposit shortage could put speed limit on credit-fueled investment
The govt is making the deposit crunch worse by taxing savers aggressively, but keeping the proceeds away from the financial system. Bankers are compounding the problem by not paying enough to savers
 "Lenders' deposit shortage could put speed limit on credit-fueled investment")
All-India house price index moderates to 3.3% in Q1FY25: RBI data
All-India HPI increased by 3.3 per cent (y-o-y) in Q1 2024-25 as compared to 4.1 per cent growth in the previous quarter and 5.1 per cent a year ago, they said
 "All-India house price index moderates to 3.3% in Q1FY25: RBI data")
RBI imposes penalty of Rs 2.68 cr on UCO Bank violation of provisions
The RBI has also imposed a penalty of Rs 2.1 lakh on Cent Bank Home Finance Ltd for non-compliance
 "RBI imposes penalty of Rs 2.68 cr on UCO Bank violation of provisions")
RBI nudges fintechs to consider granting same-day loans to street hawkers
Loans are repaid within 24 hours and seek to bolster financial inclusion at the bottom of the pyramid
 "RBI nudges fintechs to consider granting same-day loans to street hawkers")
RBI allows foreign investors in IFSC to invest in sovereign green bonds
At present, foreign portfolio investors (FPIs) registered with Sebi are permitted to invest in SGrBs under the different routes available for investment by FPIs in government securities
