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The Latest Breaking News on RBI

Multiple rate hikes may slow credit growth, says Care Ratings

RBI has already increased the repo rate four times so far in FY23, and additional hikes are anticipated during the year

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India Inc urges RBI to moderate pace of interest rates hikes

CII mentioned that somewhat 2,000 odd companies faced moderation in both the top-line and bottom-line front during September 2022 quarter on a sequentially and annual basis --- indicating the need to abate monetary policy tightening.

Livemint

RBI pauses onboarding of online merchants by Paytm payments services

NEW DELHI: Banking regulator RBI has put a pause on onboarding of online merchants by Paytm Payments Services, even as the company said it will have no material impact on its business, according to a regulatory filing.

The Times of India

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RBI asks Paytm to reapply for payment aggregator licence

Paytm further said that the firm can continue to onboard new offline merchants and offer them payment services including All-in-One QR, Soundbox, Card Machines, etc

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HDFC merger: Deepak Parekh says RBI reply on stakes in units awaited

HDFC Bank is awaiting RBI response to request that the regulator ease rules to allow the bank to stay invested in parent HDFC subsidiaries

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ARCs halt recovery of retail bad loans after RBI directive

ARCs are awaiting clarity on the new guidelines issued by the Reserve Bank last month.In October, the central bank issued revised guidelines mandating ARCs to carry out a background check of borrowers

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HDFC Bank awaiting RBI response on subsidiary stake forbearance, says Deepak Parekh

In April, HDFC Bank had announced it will take into its fold, promoter and mortgage lending behemoth HDFC in a deal that would make the bank more competitive and allow access to a captive customer base to cross sell its products -

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Mint Explainer: Five lessons for India from China's war on covid

India must administer booster doses on a mass scale to guard against future outbreaks.

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Mint Explainer: What ex-spymaster's rise says about Pak and spells for India

Former ISIS chief Asim Munir as Pak army chief is a sharp contrast to Bajwa who tried to normalise relations with India.

Livemint

HDFC Bank elevates Kaizad Bharucha as Deputy MD, appoints Bhavesh Zaveri as ED

HDFC Bank had sought RBI's approval on these appointments, it further said in the regulatory filing

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Monetary policy can only hope to address future inflation, not today's: RBI Deputy Governor

The RBI Deputy Governor said forecasts can be made into the future, but they are based on backward-looking information from one to three months ago

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SEBI alerts RBI about NBFCs evergreening loans

Non-bank lenders are evergreening loans by using alternative investment funds.

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Govt sees GDP growth dipping below the RBI forecast

Government expects external shocks and high interest rates to hit economy, making budget-making for FY24 even more challenging.

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Clearing houses will have to seek ESMA recognition again

ESMA plans to derecognize six clearing houses for non-compliance with EMIR provisions

Livemint

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Indian economy expected to maintain growth above 6.5% in coming years: CEA

Indian economy will close the current fiscal logging a growth rate of 6.5- 7 per cent, said CEA V Anantha Nageswaran

The Times of India

Lagged data, frequent reviews make monetary policy's task challenging: RBI deputy governor Michael Patra

MUMBAI: Reserve Bank deputy governor Michael Patra on Thursday said formulating monetary policy is a challenging task in a volatile environment like the current one, given lagged data inputs, which are also frequently reviewed.

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Monetary policy task challenging given lagged data, frequent reviews: RBI dep guv

In his speech at the annual SBI conclave, Patra stated that preparing monetary policy is a challenging task, especially in a volatile market like the current one where there are lagged data that are also reviewed frequently.

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Fino Payments Bank shares jump over 37% in just 2 trading sessions

Capri Global Holdings Private Limited bought 1.32 million shares of Fino Payments Bank on Wednesday via block deals

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How will Digital Banking Units (DBUs) transform banking in India?

Ever since demonetisation, the Government of India and regulatory bodies such as the Reserve Bank of India (RBI) & NPCI have taken a slew of measures to boost the penetration of digital payments in the country.

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Bajaj Housing Finance debuts My EMI offering on home loans with 8.20% interest

My EMI is a brand-new service from Bajaj Housing Finance.

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At this SFB, general depositors can earn 8% FD rate; senior citizens get 8.5%

Fincare Small Finance Bank is offering massive interest rates on fixed deposits below ₹2 crore along with a premature withdrawal facility. At Fincare, the general public can earn up to 8% on FDs, while senior citizens can earn up to 8.77%.

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UPI apps may soon impose a transaction limit: What it means?

UPI platforms such as PhonePe and Google Pay are currently dominating the market with approx 80 percent share. In order to avoid the monopoly of any UPI app, NPCI has sent a proposal of a 30 percent volume cap in November 2022, which the organisation wants the RBI to approve.

Livemint

Ours is the fastest growing major economy: How come?

We should interpret this honorific title with caution as there’s much that we still need to set right

Livemint

Bajaj Finance introduces special FD for 39 months with up to 7.85% return

The average ticket size of fixed deposits with Bajaj Finance is ₹3.5 lakh per depositor. The company has a base of 4.25 lakh depositors with more than 1 million FDs. The company can also cross-sell financial products to its FD holders

Livemint

HDFC Bank, Canara Bank get RBI nod for rupee trade with Russia: Report

As many as five Indian banks have received regulatory clearance for rupee trade till now. These includes UCO Bank, Union Bank and IndusInd Bank are the other three

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