#rbi
Earning in dollars? New FEMA rules from October 1: How freelancers and YouTubers need to file EDF declaration with banks
A new RBI rule from 1 October changes how service exporters receiving overseas payments must report their earnings. Freelancers, creators and other professionals may need to take an additional compliance step through their bank. Here’s what you need to know.
India's forex reserves fall $18.3 bn, post biggest weekly decline on record
Foreign exchange reserves have fallen for three straight weeks, losing about $38.2 billion, as the RBI intervenes to support the rupee amid higher crude oil prices
A modest repo rate hike will be in order
The MPC cannot disregard the broader tightening bias globally. Also, a hike will help RBI stay ahead of the inflation curve
How RBI's rules for gadget loan recovery can make a positive difference for India on many counts
The Reserve Bank of India’s new rules that enable the use of technology tools to ensure loans for smartphones and other devices are duly repaid could drive up demand for these items. The idea can boost economic inclusion by taking gadget credit far and wide.
Indian economy has done exceptionally well despite multiple shocks, says RBI Deputy Governor
Poonam Gupta, Deputy Governor, Reserve Bank of India has stated that India has perhaps been among the most challenged emerging market economies over past year and a half. Whereas most other countries were subject to only a subset of these shocks, India has be…
RBI absorbs ₹75,026 crore through overnight VRRR auction amid surplus liquidity
The Reserve Bank of India (RBI) absorbed 75,026 crore rupees from the banking system through an overnight Variable Rate Reverse Repo (VRRR) auction, amid surplus liquidity. The RBI absorbed the liquidity at a cut-off and weighted average rate of 5.24 per cent…
RBI said to conduct at least $10 billion forex swaps to drain cash
Banks have been awash with cash after the RBI’s measures to attract foreign capital raked in more than $140 billion, far exceeding official expectations.
The 13.1% depreciation over the past one-and-a-half years appears to be a temporary phenomenon, says RBI DG
The Reserve Bank of India (RBI) Deputy Governor Poonam Gupta on Wednesday said that there is a fair case for the rupee to not just stabilise but even appreciate from current levels, as the currency's 13.1 per cent depreciation over the past one-and-a-half yea…
Indian govt bonds plummet as US Treasury yields spike, traders raise RBI rate hike bets
Indian government bonds fell sharply as US Treasury yields rise, increasing bets on an upcoming rate hike by the RBI.
RBI carries out currency swaps worth at least $10 bn to reduce liquidity
The Reserve Bank of India has conducted sell-buy dollar-rupee swaps with lenders over the past two weeks, taking rupees out of the financial system to contain risks from surplus liquidity
Bank strike from Sept 28-30: Why bankers are on strike again this month
Bank Strike: The RBI has allowed all bank branches, offices, ATM-linked branches and currency chests to remain open on September 27 to avoid a possible five-day disruption
RBI said to conduct at least $10 billion FX swaps to drain cash
RBI conducts $10 billion FX swaps to reduce liquidity and curb inflation risks amid significant cash surplus in the system.
Merchant fee on UPI payments leaves traders counting costs in Hyderabad
Traders in Hyderabad are worried about the new 0.4% Merchant Discount Rate. This charge applies to specified UPI person-to-merchant transactions exceeding two thousand rupees. The additional cost could significantly impact businesses operating with thin profi…
India’s ‘sugar high’ warrants caution on RBI hikes, JPMorgan Chase & Co.’s Jahangir Aziz says
JPMorgan's Jahangir Aziz suggests India's economy is experiencing a temporary sugar high from past stimulus. He believes markets are anticipating too many interest rate increases this year. The Reserve Bank is expected to implement an initial quarter-poin…
Jio Financial says BoFA's ₹18,268 cr to come by Dec; Jio Credit's product plans, strategy to be redrawn
The ₹18,268 crore infusion for a stake of a little less than 50% will come in by December once all regulatory approvals from the RBI and the Competition Commission of India are in place
Loan interest rates, EMIs to rise? Two back-to-back 25 bps repo rate hike from RBI soon?
The RBI is expected to hike the benchmark interest rate by 25 basis points in October and December due to rising crude prices and inflationary pressures. Changes in the repo rate will affect borrowers and depositors. Here's how.
Why it’s getting harder for Tata Sons to resist an IPO
The RBI reportedly rejected Tata Sons’ request for exemption from rules requiring upper-layer NBFCs to list publicly. The decision could intensify pressure on the Tata Group holding company to launch an IPO, despite its efforts to remain private.
Ban on flexi-loans: Should RBI be flexible?
The defining feature of a flexi-loan is amortisation, not revolveability. Instead of a blanket ban, the regulator may consider certain structural safeguards against evergreening
SEBI, RBI launch Demat 2.0 pilot for tokenised corporate bonds
SEBI Chairman Tuhin Kanta Pandey said the initiative does not create a new asset class or require investors to open a new demat account or complete a fresh KYC process
Next decade an opportunity for India to build fintech architecture for the world: RBI governor Malhotra
RBI governor Sanjay Malhotra said that trust, inclusion, and responsible use of data is the foundation for global adoption.
Fed should raise rates to curb inflation, says ex-RBI chief Raghuram Rajan
Markets expect the Fed will raise rates in December as inflation remains elevated, while a sharp rise in bond yields indicates that investors are also pricing in some chance of a September move
RBI Resumes UCB Licensing : Need for Stronger Governance
IndusInd Bank RBI Approval Stock Broking Subsidiary
NBFCs have to restrict their lending only to term loans; cannot offer ‘revolving credit’: RBI Draft Directions
RBI mandates NBFCs to limit lending to term loans, prohibiting revolving credit, with exceptions for authorized credit card issuers.
Tata Investment, Tata Chemicals rally up to 7% after RBI classifies Tata Sons as upper-layer NBFC
Tata Investment Corp and Tata Chemicals shares rallied up to 7% after the RBI classified Tata Sons among the 16 upper-layer NBFCs, reviving focus on the holding company's potential listing. The central bank is also examining Tata Sons' application to surrende…
Bajaj Finance, Bajaj Finserv shares fall up to 5% on RBI's new proposal for NBFCs
Shares of Bajaj Finance and Bajaj Finserv fell sharply after the RBI proposed restricting NBFCs to offering only term loans, effectively barring revolving credit products. The proposal exempts NBFCs authorised to issue credit cards and is aimed at strengtheni…
RBI likely intervenes to shield rupee from oil jump, traders say
The rupee appeared on track to open weaker around 95.35-95.40 per dollar, but central bank intervention right around the time the local spot market opened at 9:00 am IST helped shore up the currency
RBI proposes to bar most NBFCs from offering revolving credit facilities - CNBC TV18
RBI proposes to ban most NBFCs from offering revolving credit, reshaping credit products. New rules define term loans and revolving credit.
It’s time for India’s Unified Payments Interface to fund itself—without burdening people at large
Public infrastructure attracts capital if users are ready to pay fair and transparent usage charges. In the case of NPCI’s UPI too, the user-pays principle should apply. Let the Reserve Bank of India’s e-rupee serve as the country’s digital cash.
RBI bars NBFCs from offering revolving credit facilities
India Business News: MUMBAI: RBI has proposed a sweeping overhaul of credit facility norms for non-banking financial companies, mandating a shift to term-loan structures w.