Page 27 - Latest Updates on Reserve Bank of India
India's new govt will be spoilt for choice with $25 bn extra in kitty
On Wednesday, the RBI announced a record Rs 2.11 trillion dividend transfer to the government
 "India's new govt will be spoilt for choice with $25 bn extra in kitty")
Rupee appreciates 12 paise to 83.17 against US dollar in early trade
Brent crude futures, the global oil benchmark, advanced 0.05 per cent to $81.40 per barrel
 "Rupee appreciates 12 paise to 83.17 against US dollar in early trade")
With PA approval, fintech firm Decentro launches new payment stack
The company has launched fintech products such as collections on Unified Payments Interface (UPI) and will introduce recurring payments in the next few weeks
 "With PA approval, fintech firm Decentro launches new payment stack")
What will be the impact of the RBI's cash disbursal limit on gold loan?
The push for increased transparency and reduced cash transactions aligns well with the RBI's objectives, promoting a more secure and compliant lending environment
 "What will be the impact of the RBI's cash disbursal limit on gold loan?")
ESAF SFB evaluating conversion to universal bank: MD & CEO Paul Thomas
In April, the Reserve Bank of India (RBI) came out with guidelines for the voluntary conversion of SFBs to universal banks.
 "ESAF SFB evaluating conversion to universal bank: MD & CEO Paul Thomas")
Reserve Bank board approves transfer of Rs 2.11 trillion surplus to govt
The expert committee had suggested maintaining the risk provisioning within a range of 5.5 per cent to 6.5 per cent of the RBI's balance sheet under the Contingent Risk Buffer
Bank Holidays 2024: Banks to observe four consecutive holidays this week
Banks in various states might close for four-day this week, because of Buddha Purnima, Nazrul Jayanti/2024 General Elections and the Saturday-Sunday weekend holidays, as per the Reserve Bank of India
 "Bank Holidays 2024: Banks to observe four consecutive holidays this week")
Govt eyes Rs 1 trillion in dividend from RBI to meet budget deficit target
A big surplus transfer will help the government in meeting any shortfall in disinvestment receipts and create room for funding welfare programmes after the elections
 "Govt eyes Rs 1 trillion in dividend from RBI to meet budget deficit target")
Inflation seen closer to target in FY26: RBI's state of the economy report
The report says there is a growing optimism that India is on the cusp of a long-awaited economic take-off
Govt likely to cut bond sales aided by higher cash balance: Officials
The yield on benchmark 10-year bond was little changed at 7.09 per cent on Tuesday
 "Govt likely to cut bond sales aided by higher cash balance: Officials")
Ujjivan SFB board to decide universal bank transition timelines in FY25
Ujjivan SFB's gross and net NPA ratio were 2.1 per cent and 0.3 per cent in March 2024. The ratios were at 2.6 per cent and 0.4 per cent as on March 2023
 "Ujjivan SFB board to decide universal bank transition timelines in FY25")
RBI Guv Das casts vote in Mumbai, urges electors to exercise voting right
Tata Sons Chairman N Chandrasekaran was also among the early voters from the world of business
 "RBI Guv Das casts vote in Mumbai, urges electors to exercise voting right")
Unsecured loans, capital market funding can bring grief for NBFCs: RBI DG
The career commercial banker-tuned-regulator also flagged the risk limits for certain products or segments like unsecured lending are 'way too high' to be sustainable in the long run
 "Unsecured loans, capital market funding can bring grief for NBFCs: RBI DG")
Credit offtake stays robust at nearly 16% in May, shows RBI data
The deposit mobilisation also saw an uptick at 13 per cent Y-o-Y growth against the 10.4 per cent on May 5, 2023, according to Reserve Bank of India (RBI) data
 "Credit offtake stays robust at nearly 16% in May, shows RBI data")
RBI repurchases Rs 2,069 cr worth of bonds, against notified Rs 60,000 cr
The securities scheduled for buyback were 6.18 per cent 2024, 9.15 per cent Government Securities (GS) 2024, and 6.89 per cent GS 2025
 "RBI repurchases Rs 2,069 cr worth of bonds, against notified Rs 60,000 cr")
RBI action could increase business volatility for some NBFCs: Fitch
Firms' implementation of regulatory instructions varies, says ratings agency
India sees forex reserves as main tool to manage bond index inflows
The Reserve Bank of India plans to absorb the inflows and match the outflows using its near-record high $642 billion reserves
 "India sees forex reserves as main tool to manage bond index inflows")
Govt plans to change base year of key economic gauges like CPI to FY23
Economic indices such as the Index of Industrial Production (IIP), Wholesale Price Index (WPI), and National Income are benchmarked to FY12
 "Govt plans to change base year of key economic gauges like CPI to FY23")
Agile approach
Rupee should be allowed to adjust to lower levels
RBI urges gold loan NBFCs to strictly comply with norms amid biz surge
RBI took stock of the gold loan business of non-banking finance companies after one of them - IIFL Finance faced regulatory restriction for violating norms
 "RBI urges gold loan NBFCs to strictly comply with norms amid biz surge")
