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The Latest Breaking News from RBI

Festive cheer: Urban consumer confidence at seven-year peak | Data

Urban consumers enter 2023 festival season w/ more confidence than 7 years ago. RBI's Consumer Confidence Survey finds 36% of respondents say general economic situation improved, 25% say income improved, & 91% say price levels of commodities increased. FEI hit highest level in 4 years.

The Hindu

All of Google’s eyes, now on Madras High Court

The Hindu

Traders puzzled Why RBI spends billions fighting stronger dollar

MUMBAI: For the most part of this year, betting against the rupee has been a fool’s errand. Traders are now contemplating one key question: why is the Reserve Bank of India steadfastly defending the currency?

The Times of India

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India’s Bank of Baroda expose worsens: Agents steal money from accounts

RBI has banned BoB from onboarding new customers on its app after an expose by The Reporters’ Collective-Al Jazeera.

Al Jazeera

Tightrope walk: On RBI holding rates

RBI’s Monetary Policy Committee decision to leave interest rates unchanged even as the central bank warned of the major risk that ‘high inflation’ poses to macroeconomic stability is a clear sign that monetary authorities find themselves caught in a cleft stick.

The Hindu

Retail inflation likely eased in September, but may be higher than RBI hopes

India’s retail inflation is likely to have retreated below 6% in September after two months over the central bank’s tolerance threshold.

The Hindu

Morning Digest | FIR links NewsClick case to legal aid for Chinese companies; Canada moves diplomats out of India to Singapore, Malaysia, and more

The Hindu’s Morning Digest brings readers a select list of stories to start the day

The Hindu

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RBI strikes hawkish tone with surprise bond plan

MUMBAI: The Reserve Bank of India struck a hawkish policy tone on Friday, saying inflation remains uncomfortably high and it may take measures to absorb excess cash in the market to keep price pressures under control.

The Times of India

RBI doubles gold loan limits for urban cooperative banks to Rs 4 lakh

MUMBAI: The Reserve Bank of India on Friday announced doubling the lending limits for gold loans under the bullet repayment scheme for urban cooperative banks to Rs 4 lakh.

The Times of India

Judicial interventions in ongoing cases against NewsClick: A timeline of events

We take a look at the chronology of events pertaining to interventions by High Courts in the ongoing cases against NewsClick

The Hindu

October 7 deadline to exchange ₹2,000 notes

RBI extends deadline to exchange/deposit ₹2,000 notes till Oct 7; exchange can be done at 19 RBI Issue Offices up to ₹20,000. Courts, law enforcement, govt. depts. can exchange/deposit without limit. India Post can also send ₹2,000 notes to RBI Issue Offices for credit to bank accts.

The Hindu

India’s external debt rises to $629.1 billion at end-June 2023: RBI

India's external debt rose to $629.1B at end-June 2023, with long-term debt up $9.6B. CAD widened to $9.2B in Q1:2023-24, due to higher trade deficit and lower net services surplus.

The Hindu

RBI imposes penalty on SBI, Indian Bank, Punjab & Sind Bank

MUMBAI: The Reserve Bank on Monday said it has imposed penalties on three state-owned banks, including SBI and Indian Bank, for violation of various regulatory norms.

The Times of India

Still hold Rs 2,000 note? You have less than a week to deposit in bank

MUMBAI: India’s highest value banknote will be withdrawn in less than a week — and there’s still almost 240 billion rupees ($2.9 billion) worth of the notes in circulation.

The Times of India

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The Hindu

Ordinary households, small businesses hit due to high unemployment and inflation: Jairam Ramesh

Jairam Ramesh said no matter how much the Modi government hides the data, the reality is that the vast majority of people are suffering.

The Hindu

ED conducts searches in case alleging illegal forex trading by TP Global FX

ED searches Ahmedabad in money laundering case involving TP Global FX. Seized ₹1.36 crore cash, 1.2 kg gold, two luxury vehicles, ₹14.72 lakh bank account. Probe based on FIR against TM Traders, KK Traders. Accused allegedly defrauded public under guise of forex trading. Arrested Prasenjit Das, Shailesh Kumar Pandey, ₹121.02…

Dynamite News

ED conducts search operations in illegal TP Global FX forex trading case, seizes Rs 1.36 cr

The Enforcement Directorate conducted search operations in Ahmedabad in the illegal Forex Trading case by TP Global FX. Read further on Dynamite News:

The Hindu

Little succour: On Consumer Price Index data

As the Reserve Bank of India has been highlighting, failure to anchor inflation expectations risks hurting growth

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The Times of India

RBI to banks: Return property papers within 30 days of loan repayment, or pay Rs 5000 fine

MUMBAI: The Reserve Bank of India (RBI) has issued guidelines to banks regarding the release of documents related to movable and immovable property upon full repayment of loans by customers. These guidelines have been introduced to address discrepancies in the practices followed by banks, which have led to customer grievances…

The Hindu

RBI asks banks, NBFCs to release original movable, unmovable property documents within 30 days of full repayment of loan

RBI issues directions to REs to release all property docs & remove charges after loan repayment. Borrowers can collect docs from banking outlet or other RE office. REs must have procedure for return of docs to legal heirs & must compensate borrowers for delay/damage. Directions applicable from Dec 1, 2023.

The Times of India

RBI decides to withdraw incremental CRR in phased manner

MUMBAI: The Reserve Bank on Friday decided to discontinue the Incremental Cash Reserve Ratio (I-CRR), which was put in place to absorb surplus liquidity following the withdrawal of Rs 2,000 currency notes, in a phased manner beginning Saturday. On August 10, the RBI mandated banks to maintain an incremental cash…

The Hindu

RBI resisted govt push for ₹3 lakh crore transfer in 2018 ahead of elections: Viral Acharya

He called the exercise a “backdoor monetisation of the fiscal deficit by the central bank”.

The Hindu

‘India on path to become solid global player due to robust financial regulations’

India is in a sweet spot to grow robustly despite global turmoil and monsoon risks. RBI Deputy Governor M. Rajeshwar Rao inaugurated the first annual seminar on ‘Banking regulation, intermediary soundness and systemic stability’ at IIM-Kozhikode. He said credit risk management tools, especially for risk transfer or migration, are essential.…

The Hindu

Telangana to raise ₹2,500-crore market borrowings through RBI on Sept.5

The government, according to the RBI website, has opted for ₹1,000-crore loan with a tenure of 16 years and another ₹1,500 crore which has tenure of 20 years.

The Hindu

The transition of loans from floating to fixed rates | Explained

What has RBI said about allowing borrowers to transition from floating to fixed rates for loans? We take a look.

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