Page 16 - Anup Roy

RBI battle-ready to meet economy's needs: Governor Shaktikanta Das

Says protecting depositors' money, ensuring financial stability key concern

Amitabha Ghosh, who served as RBI governor for 21 days, passes away at 90

Had the shortest stint as a RBI governor, all of 21 days, as he waited to hand over the office to R N Malhotra

Huge liquidity surplus unlikely to be inflationary, say economists

Instead of pushing up inflation, the huge surplus liquidity, bordering at Rs 7 trillion daily, is helping in policy rate transmission and aiding govt to borrow at a cheaper rate

RBI proposes to launch exchange-traded, OTC interest rate derivatives

Products to be accessible to foreign investors and retail participants too, but latter can only use for hedging

Three external members of MPC may get a short extension next week

The pandemic situation has prompted the move even as the search committee is looking for fresh external candidates, according to the government sources

Flush with funds, banks show little interest in RBI's repo operations

The cut-off yield was 4 per cent, which is at par with the policy repo rate

RBI refuses to sell another batch of 10-year bonds at market ask

This is the third straight auction of 10-year bonds that has devolved, leaving the market perplexed

Currency in circulation rises 24% as people hoard cash, shows RBI data

Total currency with the public stood at Rs 25.83 trillion as of August 28, as against Rs 23.49 trillion at the end of March 31, 2020

Start-up loans of up to Rs 50 cr under priority sector as RBI revises norms

Advances to weaker section now 12% of credit for scheduled banks and SFBs, rule doesn't apply to foreign lenders with under 20 branches. RRBs already have to lend 15% to weaker sector

Firms raising 3-month money at much lower than RBI's overnight rates

Even as FCI is raising Rs 75,000 cr for three months at 4.69%, companies are regularly tapping bond market for the same tenure at as low as 3.2%, way lower than RBI's repo rate of 4%

RBI intent to check yields, bat for stronger rupee sparks bond market rally

Rupee closes at 72.87 a dollar, up 1.03% from previous close of 73.62. The 10-year bond yields shed 18 bps to close at 5.942 per cent from previous close of 6.117 per cent

RBI steps in with measures to boost demand for bonds, cool down yields

Says it is comfortable with a rising rupee, which helps bring down import-led inflation, adds that it remains "committed to ensuring comfortable liquidity and financing conditions in the economy"

GST compensation row: FM's 'act of God' can be a nightmare for RBI

The government has invoked "act of God" for not paying its due to the states directly

RBI's core income growth takes a hit as global interest rates decline

The central bank's core earnings or interest income from its rupee and forex assets were up just 2.3% year-on-year in FY20 despite 30% rise in its assets during the year

RBI refuses to budge on bond rates, rupee strengthens to 6-month high

Central bank seems to have briefly withdrawn from intervening in spot currency markets, even as it continued with its forwards markets intervention

Unlock BFSI 2.0: Banks' extreme risk aversion self-defeating, says RBI Guv

What is desirable is focus on governance, focus on risk management, focus on quality of decision making and building up resilience, according to RBI Governor Shaktikanta Das

Bond market expects massive OMO to help govt meet Rs 12 trn borrowing goal

So far this fiscal, RBI has bought about Rs 1.14 trn of bonds from the secondary market, most of them unannounced

Reserve Bank to transfer Rs 57,128 crore as dividend to the Union govt

The government had budgeted Rs 60,000 crore as dividend to bridge its fiscal deficit

Part of 10-year bond left unsold in auction as traders demand higher yield

The cut-off yield in the auction of this bond came at 5.96 per cent, against its coupon of 5.77 per cent. The bond was launched just last week

HNIs, family offices buy corporate bonds at high yields, reap benefits

The yields of some prominent companies are still at very high levels and high net-worth individuals and family offices, who are lapping up these bonds at very attractive rates, are reaping the benefit