RBI Annual Report

Municipal corporations need to impose adequate user charges for essential services like water supply and sanitation, to boost non-tax revenues and provide quality public services, according to a Reserve Bank of India (RBI) report. The 'Report on Municipal Finances' delves into the fiscal position of 232 municipal corporations (MCs) from 2019-20 to 2023-24 (Budget Estimates), with a focus on the theme 'Own Sources of Revenue Generation in Municipal Corporations: Opportunities and Challenges'. "MCs can significantly enhance them (non-tax revenues) by applying appropriate and adequate fees and user charges for essential services such as water supply, sanitation, and waste management while also ensuring seamless availability of high-quality public services," it said. These measures, combined with more transparent and accountable governance practices, can contribute to bolstering the financial health of MCs, setting off a virtuous cycle of better services for the public, stronger revenue

World from moving from 'era of data scarcity to abundance', says central bank governor

Central bank says it uses 'judicious mix' of instruments to regulate liquidity

Measures to be more principle-based rather than entity-oriented

Central bank highlights trading risks and, high reliance on bulk deposits of banks

Unclaimed deposits with banks have witnessed a 26 per cent jump year on year to Rs 78,213 crore at the end of March 2024, as per the RBI Annual Report released on Thursday. The amount with the Depositor Education and Awareness Fund stood at Rs 62,225 crore at the end of March 2023. Banks including cooperative banks transfer unclaimed deposits of account holders lying in their accounts for 10 or more years to RBI's Depositor Education and Awareness (DEA) Fund. As a measure to assist the account holders and with a view to consolidating and rationalising the extant instructions on inoperative accounts, the Reserve Bank issued a comprehensive guidelines earlier this year on the measures to be put in place by the banks covering various aspects of classifying accounts and deposits as inoperative accounts and unclaimed deposits, as the case may be. The RBI advised banks for a periodic review of such accounts, measures to prevent fraud in such accounts, grievance redress mechanism for ...

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

Says clarity and specificity are needed to ensure effective implementation and compliance with disclosure requirements

The RBI's numbers are provisional, but further updated, and final figures are usually published quarterly as part of the country's overall balance-of-payments data

The rising volumes of UPI transactions and related frauds have emerged as a major challenge for the banks

Credit offtake has remained robust even amid the significant rise in interest rates, and global uncertainties related to geo-political, and supply chain issues

Monetary policy remains focused on withdrawal of accommodation to ensure that inflation progressively aligns with the target, while supporting growth, the central bank said

Government capex increase in recent years expected to spur higher private investment in 2023-24, it says

Fears of a global recession weigh on the unit despite RBI measures to boost dollar inflow

Bounce rates by value at three-year low

Fake notes of Rs 2,000 increased by 55% in 2021-22 over the previous fiscal year

The year ended with an overall surplus of Rs 30,307.45 crore as against Rs 99,122 crore in the previous year, the RBI annual report showed

RBI annual report: Private banks contribute more to the number of bank frauds while public sector banks contribute more to the value.

The Narcotics Control Bureau on Friday cleared Aryan Khan, son of Bollywood actor Shah Rukh Khan, of all charges in the drugs-on-cruise case.

The Reserve Bank said in its annual report said there is a risk of high wholesale price inflation (WPI) putting pressure on the retail inflation, albeit with a lag