Page 16 - Latest Updates on Reserve Bank of India
RBI deputy Guv cautions against use of CBDC as 'safe havens' during crisis
During crises, CBDCs could be perceived as a safe haven, rendering uninsured bank deposits more prone to withdrawal and increasing risk of bank runs, says Patra
 "RBI deputy Guv cautions against use of CBDC as 'safe havens' during crisis")
India, Russia explore dynamic rupee-rouble rate to overcome trade issues
RBI deputy governor T Rabi Sankar and top officials of some public sector banks are visiting Moscow for a meeting of the India-Russia Joint Business Council for banking and finance
 "India, Russia explore dynamic rupee-rouble rate to overcome trade issues")
NBFC depositors can prematurely withdraw entire amount within 3 months: RBI
In its review of regulations governing NBFCs, the central bank said no interest will be paid for such premature withdrawals and added that these changes will be in force from January 1, 2025
 "NBFC depositors can prematurely withdraw entire amount within 3 months: RBI")
Statsguru: Rising food prices in India spoil the taste of platter
In June, food inflation was at its highest rate since December at 9.36 per cent, while the headline inflation was at 5.08 per cent
 "Statsguru: Rising food prices in India spoil the taste of platter")
Bank deposits: Barking up the wrong tree?
Despite efforts to boost deposit growth, credit growth is outpacing deposits. Traditional strategies are not working. Are we missing the big picture?
 "Bank deposits: Barking up the wrong tree?")
Uncertainty in garment sector amid Bangladesh crisis, normalcy soon: FM
FM Sitharaman addresses concerns over garment sector investments in Bangladesh and urges banks to boost deposit mobilisation amidst rising economic challenges
 "Uncertainty in garment sector amid Bangladesh crisis, normalcy soon: FM")
Sovereign green bonds trading at IFSC to start in 2nd half of FY25: RBI Guv
The government has been raising funds through green bonds since 2022-23 and has raised a total of Rs 36,000 crore in the last two years
 "Sovereign green bonds trading at IFSC to start in 2nd half of FY25: RBI Guv")
US recession fears hyped, but any slowdown may impact India's economy
The US economy expanded 2.8 per cent in the second quarter and 1.4 per cent in the first quarter of 2024
 "US recession fears hyped, but any slowdown may impact India's economy")
Need enabling framework for ESG bond issuances in India, says RBI
Dimple Bhandia highlighted that the credit derivatives market has been another area that has struggled to take off
 "Need enabling framework for ESG bond issuances in India, says RBI")
Need enabling framework to help cos issue ESG bonds locally: RBI official
Another disappointment has been the 'non-starter' credit derivatives market, Dimple Bhandia, the chief general manager in RBI said, recalling that very limited number of trades have taken place in it
 "Need enabling framework to help cos issue ESG bonds locally: RBI official")
Look to resolve issues with deposit growth: HDFC Bank's Atanu Chakraborty
Says focused on creating personalised experience for customers
 "Look to resolve issues with deposit growth: HDFC Bank's Atanu Chakraborty")
Govt tables banking laws bill in LS, seeks to raise nominees per a/c to 4
Another proposed change relates to redefining 'substantial interest' for directorships, which could increase to Rs 2 crore instead of the current limit of Rs 5 lakh, which was fixed almost six decades
 "Govt tables banking laws bill in LS, seeks to raise nominees per a/c to 4")
RBI expected to step up intervention if the rupee touches 84 level
Indian currency tested a series of record lows in recent days but stopped short of crossing that key level
 "RBI expected to step up intervention if the rupee touches 84 level")
RBI monetary policy review: Hawks rule over doves
Credit growth needs to be moderated, and the RBI has been taking steps to reduce banks' exposure to unsecured lending.
RBI mandates fortnightly credit information reporting to boost transparency
Credit institutions (CIs) are required to report the credit information of their borrowers to credit information companies
Monetary policy review: FPI investment limit in OIS market under review
Patra says exclusion of new 14/30-yr G-sec from FAR to boost 5/10-yr bond demand
Continuous clearing of cheques to speed up payments, enhance efficiency
The cheques will be scanned, presented, and passed in a few hours and on a continuous basis during business hours
 "Continuous clearing of cheques to speed up payments, enhance efficiency")
Keep bulk of your portfolio in short- to medium-duration debt funds
The Reserve Bank of India (RBI), too, left the benchmark repo rate unchanged at 6.5 per cent and kept the policy stance unchanged on Thursday
 "Keep bulk of your portfolio in short- to medium-duration debt funds")
RBI status quo on interest rates to boost demand for realty sector: CEOs
The real estate industry experts are expecting the move to continue the growth momentum in the sector
 "RBI status quo on interest rates to boost demand for realty sector: CEOs")
New UPI feature to allow multiple users to use one account for transactions
RBI has increased the limit for tax payments through UPI from Rs 1 lakh to Rs 5 lakh per transaction
 "New UPI feature to allow multiple users to use one account for transactions")
