India’s Forex Reserves Hits Lowest Mark Since Jul 2020 As RBI Rescues INR’s Fall

By Malvika Gurung — As per recent data released by the Reserve Bank of India, the country’s foreign exchange reserves tumbled to a fresh multi-year low in the Oct 14-ended week, led by a decline in its foreign currency assets, as the central bank intervened to rescue the domestic currency’s fall against the . India’s … Read more

RBI issues draft on IT governance for regulated entities

New Delhi, Oct 21 (IANS) The Reserve Bank of India (RBI) has released a draft master direction on information technology (IT) governance for all regulated entities, which will make it mandatory for them to install a robust IT governance framework and help meet their objectives. “The key focus areas of IT governance shall include strategic … Read more

Inflation set to ease, though stubbornly: RBI bulletin

New Delhi, Oct 17 (IANS) The Reserve Bank of India (RBI) has expressed optimism that headline inflation is set to ease from its September high, albeit stubbornly, on the back of easing momentum and favourable base effects. These observations have been made in the central bank’s monthly bulletin for the month of October. In the … Read more

RBI revises rules on foreign currency exposure of banks

New Delhi, Oct 11 (IANS) The Reserve Bank of India (RBI) on Tuesday revised guidelines on foreign currency exposure of banks, aimed at insulating them from forex market volatility. As per the changes initiated by the central bank, lenders will have to assess the unhedged foreign currency exposures of all counterparties to whom they have … Read more

Top 6 Market Drivers in Busy Week Ahead: RBI, FOMC Minutes, Q2 Earnings & More

By Malvika Gurung — The domestic market closed the (past) holiday-truncated week with decent gains for the first time in four weeks. The equity benchmark indices advanced over 1% each, with surging 1.29% and rising 1.13% last week. Broader market indices outperformed their peers in the week, with and jumping nearly 3%. The week … Read more

RBI looking at phased implementation strategy to launch digital currency

It has made this observation in a concept note on CBDC prepared by RBI’s fintech department. Finance Minister Nirmala Sitharaman had announced the launch of CBDC in her budget speech, informing that it would be unveiled in the current fiscal itself. “RBI has been exploring the pros and cons of introduction of the CBDCs for … Read more

RBI Rescues INR As it Hits Record Low, Sells Dollars Ahead of US Jobs Data

By Malvika Gurung — The fell to a fresh lifetime low of 82.55 against the US dollar on Friday, exceeding the 82-mark for the first time amid weak global cues, ahead of report to be released later in the day. According to forex traders, the Reserve Bank of India has intervened and likely sold … Read more

RBI directs credit information companies to appoint internal ombudsman

Mumbai, Oct 6 (IANS) The Reserve Bank of India (RBI) on Thursday has directed all the credit information companies to appoint an internal ombudsman by April 1, 2023. The RBI, in its Statement of Developmental and Regulatory Policies, on August 5, 2022 had called for bringing credit information companies under the internal ombudsman framework to … Read more

RBI repo rate hike: Not much of an impact on home loan borrower

They also said the hike in the equated monthly instalments (EMI) for a borrower may be about 8-15 per cent. “Though the RBI has been increasing the repo rate (RBI’s lending rate to the banks) recently, not all the housing finance companies have passed the rate hike to their borrowers. Further the repo rate hikes … Read more