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The Latest Breaking News from RBI

Data | Automation crushes bank hirings for clerical jobs, officers unaffected

ATM usage, mobile and online transactions, and fewer new bank branches have led to reduced recruitment

The Hindu

RBI hikes repo rate by 50 bps to 5.9%; pegs GDP growth at 7% for FY23

NEW DELHI: The Reserve Bank of India (RBI) on Friday raised benchmark lending rates for the 4th straight time in a row, in a bid to tame the soaring inflation.

The Times of India

How much should India prop up the rupee?

Last week, the rupee weakened against the dollar past the 81-mark to a record low. In recent months,

The Hindu

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Sensex slips for 7th day amid F&O expiry; RBI policy in focus

MUMBAI: Benchmark indices failed to hold on to early gains and closed in the red for the seventh straight session on Thursday, with participants remaining in wait-and-watch mode ahead of the RBI's interest rate decision.

The Times of India

Current account deficit widens to 2.8% of GDP in Q1 of FY23: RBI

MUMBAI: India's current account deficit, a key indicator of the balance of payment position, widened to 2.8 per cent of GDP at $23.9 billion in the first quarter of the current financial year, mainly on account of a higher trade deficit.

The Times of India

Indices on Indian markets snap 6-day losing streak in early trade

The benchmark indices on stock equity markets snapped the six-day losing streak and opened higher during early trade on Thursday. Read more on Dynamite News:

Dynamite News

Share of industrial loans in bank credit on decline, personal loans up: RBI

MUMBAI: The share of industrial loans in total credit has been gradually declining over the last decade while that of personal loans is on the rise, the Reserve Bank said on Wednesday.

The Times of India

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Three-day RBI monetary policy meet starts today; another repo rate hike likely

The monetary policy committee of the Reserve Bank of India is all set for its bi-monthly review meeting starting today. Read more on Dynamite News:

Dynamite News

Falling Rupee: TOI says ‘it’s all right’, Express says ‘hawkish commentary roiled markets’

While the Indian rupee has continued to hit record lows, editorials by prominent English dailies have differed on the role played by the Reserve Bank of India.

Newslaundry

India has fairly large forex reserve to deal with current situation: Economic affairs secretary

NEW DELHI: Economic affairs secretary Ajay Seth on Tuesday dismissed the concerns over depletion of forex reserve as "overblown" and said India has fairly large reserve to tide over the current situation.

The Times of India

RBI's rate-setting panel to start 3-day meet on September 28, another rate hike likely

MUMBAI: The Reserve Bank's rate-setting panel will start its 3-day deliberations on Wednesday amid expectations of yet another rate hike of 50 basis points to check high inflation, in line with similar actions taken by other major central banks, including the US Fed.

The Times of India

Sensex, Nifty end lower on selloff in metal, banking stocks

MUMBAI: Key benchmark indices sensex and Nifty closed lower for the fifth straight session on Tuesday in a volatile trade tracking losses in metal, banking and financial stocks.

The Times of India

Only request to PM Modi is to stop Rupee from scoring century: Congress

Congress Spokesperson Supriya Shrinate said for the first time in history, the rupee is racing fast towards 82 against the dollar

The Hindu

India has fairly large forex reserve to deal with current situation: Economic Affairs Secretary

Foreign exchange reserves were down for a seventh continuous week, dropping to $545.65 billion on September 16.

The Hindu

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The Times of India

Sensex tumbles 954 points; Nifty settles at 17,016: Top reasons behind market fall

NEW DELHI: Equity indices dragged for the fourth straight session on Monday with the benchmark BSE sensex crashing over 900 points amid weak global market trends and foreign fund outflows.

Newslaundry

The death trap that’s India’s illegal loan apps

One night in November 2020, Sai Aravind, telephoned a friend. In the course of the two-hour conversation, the 23-year-old wept incessantly, almost unable to speak through his tears.

The Hindu

Currency pressure: On the rupee’s depreciation against the dollar

The Reserve Bank of India will have to ensure price stability and prevent further weakening of the rupee

The Times of India

Economists see RBI delivering another 50 bps hike next week

MUMBAI: Economists are unanimous in forecasting that the central bank has no other option but to deliver a 50 bps rate hike next week and take the terminal rate to 6.25 per cent by December.

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The Times of India

Sensex crashes 1,021 points; Nifty settles at 17,327: Top reasons behind market fall

NEW DELHI: Equity indices dragged for third straight session on Friday with the benchmark BSE sensex crashing over 1,000 points amid an overall bearish trend in global markets.

The Hindu

Good investment climate boosts project financing

The State’s share in the overall project cost of ₹1,43,314 crore sanctioned by banks and financial institutions increased to 8.7% in 2021-22 from just 0.7% of ₹75,558 crore in 2020-21

The Times of India

RBI cancels licence of Maharashtra-based Laxmi Co-operative Bank

NEW DELHI: The Reserve Bank of India (RBI) on Thursday cancelled licence of The Laxmi Co-operative Bank Limited in Solapur, Maharashtra citing inadequate capital and earning prospects.

The Hindu

Explained | The electoral bonds scheme and the challenges to it in Supreme Court

So far, from March 2018 to April 2022, over 18 thousand bonds worth over ₹9.8 thousand crore have been sold by the SBI in 20 tranches

The Times of India

Explainer: What if US economy goes into recession? How it may impact India

NEW DELHI: The US Federal Reserve is expected to lift interest rates by three-quarters of a percentage point for a third straight time on Wednesday and signal how much further and how fast borrowing costs may need to rise to tame a potentially corrosive outbreak of inflation.

The Times of India

RBI removes Central Bank of India from corrective action list

MUMBAI: The Reserve Bank on Tuesday said Central Bank of India has been removed from the Prompt Corrective Action Framework (PCAF) watchlist following improvement in various parameters and a written commitment that the state-owned lender will comply with the minimum capital norms.

The Times of India

RBI wants fintech operators to follow rules of game: Shaktikanta Das

MUMBAI: Warning against mushrooming of lending apps and their usurious recovery prices, the Reserve Bank said it is not interested in penalizing operators or stifling innovation but wants them to follow the rules of the game, governor Shaktikanta Das said on Tuesday.

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