Page 22 - Latest Updates on Reserve Bank of India
India's forex reserves decline $1.71 bn to $651.99 bn, shows RBI data
In the previous reporting week, the overall kitty had dropped USD 2.922 billion to USD 652.895 billion. The reserves had touched an all-time high of USD 655.817 billion as on June 7 this year
 "India's forex reserves decline $1.71 bn to $651.99 bn, shows RBI data")
RBI bumper payout to curb major divestments, govt keeps Rs 50k cr target
Care Ratings said the new government will retain the interim budget's Rs 50,000 crore target on receipts from divestments
 "RBI bumper payout to curb major divestments, govt keeps Rs 50k cr target")
Budget 2024 wish list: RBI to hear demands of MSMEs on Monday
Central bank wants to understand initiatives that may be viable for the sector
 "Budget 2024 wish list: RBI to hear demands of MSMEs on Monday")
ED questions TV actors in 'unauthorised' fraud forex trading app case
The money laundering case of the ED stems from a Pune Police FIR filed against the app and its promoters who are alleged to have duped numerous investors by luring them with high returns
 "ED questions TV actors in 'unauthorised' fraud forex trading app case")
RBI governor Das asks banks to strengthen governance, risk management
The governor also noted the continued improvement in banks' asset quality, loan provisioning, capital adequacy, and profitability
 "RBI governor Das asks banks to strengthen governance, risk management")
Airtel PB records 49% dip in wallet numbers despite Paytm PB's downturn
The company however has registered a steady increase in transaction volumes
 "Airtel PB records 49% dip in wallet numbers despite Paytm PB's downturn")
NBFCs' consumer, gold loan sanctions shrink QoQ in Q4 FY24 after RBI action
Regulator last year hiked risk weights for unsecured loans and put curbs on IIFL Finance, a large player in gold loan business
 "NBFCs' consumer, gold loan sanctions shrink QoQ in Q4 FY24 after RBI action")
Rs 2000 notes: 97.87% returned; Rs 7,581 cr worth notes still with public
On May 19, 2023, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation
 "Rs 2000 notes: 97.87% returned; Rs 7,581 cr worth notes still with public")
After historic high, UPI transactions see marginal dip in June to 13.89 bn
IMPS down by 7%, FASTag 4%; but Aadhaar Enabled Payment System (AePS) see a 11% jump in volume & 7% in value
 "After historic high, UPI transactions see marginal dip in June to 13.89 bn")
Tech to risk perception: Co-lending model battles 'multiple issues'
Colending happens when multiple lending partners enter into an arrangement to provide loans to priority sectors like micro, small, and medium enterprises (MSMEs)
 "Tech to risk perception: Co-lending model battles 'multiple issues'")
RBI raises limit for short-term borrowing for states, UTs from July 1
The RBI provides WMA to states banking with it to help them tide over temporary mismatches in the cash flow of their receipts and payments
 "RBI raises limit for short-term borrowing for states, UTs from July 1")
Forex reserves rise by $810 mn to $653.7 bn as on June 21: RBI data
The Reserve Bank of India (RBI) intervenes in the foreign exchange market to curb excess volatility in the rupee
 "Forex reserves rise by $810 mn to $653.7 bn as on June 21: RBI data")
RBI using alternative data sources for economic insights: Shaktikanta Das
World from moving from 'era of data scarcity to abundance', says central bank governor
RBI revises framework for currency swap arrangements with Saarc countries
Under the framework, the RBI will enter into bilateral swap agreements with SAARC central banks that wish to utilise the swap facility
 "RBI revises framework for currency swap arrangements with Saarc countries")
RBI's action against regulated entities rises even as amounts fall
According to Financial Stability Report, the enforcement action by the banking regulator increased to 161 entities in December 2023 - May 2024 from 146 entities in June 2023 - November 2023
 "RBI's action against regulated entities rises even as amounts fall")
Foreigners buy India debt on eve of index inclusion, indicators signal
Firstly, the rupee rose to 83.4525 per dollar, up 0.14 per cent on the day, despite a jump in US Treasury yields on Wednesday
 "Foreigners buy India debt on eve of index inclusion, indicators signal")
Indian diaspora breaks record with $107 billion remittance surge in FY24
According to a survey by the Reserve Bank of India on post-Covid-19 remittances, the United States emerges as the primary contributor, constituting 23% of the total amount
 "Indian diaspora breaks record with $107 billion remittance surge in FY24")
Banks seek clarification on RBI's credit card network choice guidelines
The Reserve Bank of India's directive, which will go into effect in September, requires banks and non-banking financial companies to provide customers options to choose multiple card networks
 "Banks seek clarification on RBI's credit card network choice guidelines")
'We are positive about growth, disinflation', says RBI Governor Das
Addressing the 188th AGM of Bombay Chamber of Commerce & Industry, RBI Governor Shaktikanta Das says, "India is at the threshold of a major structural shift in its growth trajectory
 "'We are positive about growth, disinflation', says RBI Governor Das")
India's external debt rises to $663.8 bn; debt to GDP ratio falls: RBI
At end-March 2024, India's external debt was placed at $ 663.8 billion, an increase of $ 39.7 billion over its level at end-March 2023, according to RBI
 "India's external debt rises to $663.8 bn; debt to GDP ratio falls: RBI")
