Page 16 - Latest Updates on Reserve Bank of India
India's giving inflation room to grow to boost growth, but that may bite
India's wholesale price index, which tracks goods at factory gates, rose almost 13% from a year earlier in January.
 "India's giving inflation room to grow to boost growth, but that may bite")
$14 bn remitted by Indians in Apr-Dec as Covid-19 restrictions ease
Travel, studies abroad lead the surge as Covid-19 restrictions ease
 "$14 bn remitted by Indians in Apr-Dec as Covid-19 restrictions ease")
RBI to suck out $5 billion liquidity from the system ahead of LIC IPO
Foreign exchange players said the move is positive for rupee and will push up dollar/rupee forward premium
 "RBI to suck out $5 billion liquidity from the system ahead of LIC IPO")
States were becoming increasingly autonomous on funding pre-pandemic
Some were even on the verge of reducing central liability to zero
 "States were becoming increasingly autonomous on funding pre-pandemic")
RBI regulatory review body wants 100 circulars withdrawn to ease compliance
Advises separate web page for regulatory reporting
CSB Bank gets RBI nod to appoint Pralay Mondal as Deputy Managing Director
His prior appointment in the bank since September 23, 2020 was as President
 "CSB Bank gets RBI nod to appoint Pralay Mondal as Deputy Managing Director")
India to Indonesia: Emerging Asia central banks run out of room to wait
The Reserve Bank of India's move last week to keep the reverse repo rate unchanged surprised markets, which had expected the bank to raise rates to begin policy normalization
 "India to Indonesia: Emerging Asia central banks run out of room to wait")
RBI move to defer revised NPA norms eases provision burden in Q4
RBI's decision to defer the implementation of revised NPA norms by six months for finance companies will save them from the burden of making additional provisions
 "RBI move to defer revised NPA norms eases provision burden in Q4")
Rate cycle turns as commercial banks hike fixed deposit rates
Commercial banks in India have revised their deposit rates upward by 5-15 bps in an indication that the interest rate cycle has turned amid uptick in loan demand
 "Rate cycle turns as commercial banks hike fixed deposit rates")
Budgetary provisions done, no more G-sec switch in FY22: RBI
Market participants say this means comfortable cash position govt's which is also reflected in cancellation of bond auction twice in this month
HFCs' bad loans jump by 70 bps following new asset quality norms: Report
RBI had on November 12, 2021, introduced tighter asset quality reporting norms for all lenders, which brought in housing financiers and NBFCs on par with commercial banks
 "HFCs' bad loans jump by 70 bps following new asset quality norms: Report")
RBI's dovish inflation view pushes back rate hike timing expectations
Citigroup sees the Reserve Bank of India lifting the repurchase rate no earlier than October, versus its earlier August prediction
 "RBI's dovish inflation view pushes back rate hike timing expectations")
Poonawalla Fincorp looking to exceed AUM of Rs 21,000 crore by FY23
The Poonawalla Fincorp AUM was flat at Rs 15,228 crore at the end of December 2021 against Rs 15,006 crore in December 2020
 "Poonawalla Fincorp looking to exceed AUM of Rs 21,000 crore by FY23")
Manufacturing sector will need continued policy support: RBI article
The manufacturing sector will need continued policy support for smoother and faster recovery to attain the long-term trend path, according to a Reserve Bank article.
 "Manufacturing sector will need continued policy support: RBI article")
NARCL to help reduce banking stress, kick-start credit cycle: RBI article
The cross-country evidence suggests that if the logistical and financial challenges are carefully navigated, experiments of centralised bad bank can have more hits than misses: RBI article
Zombie firms dampen effectiveness of monetary policy at margins: RBI study
These firms account for 10% of bank credit in India, shows the study
 "Zombie firms dampen effectiveness of monetary policy at margins: RBI study")
Economic recovery gaining strength as India emerges out of 3rd wave: RBI
FY23 Budget proposals, recent monetary policy set tone for broad-based economic revival, says RBI
States see drop in borrowing cost as bond yields soften after RBI policy
In the auctions on Tuesday, states borrowed Rs 12,100 crore from the market compared with Rs 14,200 crore last week, with most of them opting for longer-term borrowing
New prudential norms: NBFCs get some leeway on bad loans classification
The Reserve Bank allowed some relaxation in the stricter prudential norms announced for all lenders, including shadow banks
 "New prudential norms: NBFCs get some leeway on bad loans classification")
India 10-year bond erases all losses since budget, yield down 5 bps
India's retail inflation is now over the upper limit of the Reserve Bank of India's tolerance band, accelerating to a seven-month high just above 6% in January
 "India 10-year bond erases all losses since budget, yield down 5 bps")
