Page 24 - Latest Updates on Reserve Bank of India
Omicron impact concern forces RBI to keep reverse repo rate unchanged
Variable rate reverse repo auction seems to be the central bank's mode to fine tune excess liquidity.
 "Omicron impact concern forces RBI to keep reverse repo rate unchanged")
Banks can infuse capital in overseas branches without RBI approval
RBI said banks will be allowed to infuse capital in their overseas branches as well as repatriate profits without seeking its prior approval
 "Banks can infuse capital in overseas branches without RBI approval")
RBI to have on-device wallets in UPI apps for small-ticket transactions
RBI proposed an "on-device" wallet in UPI apps aiming to conserve banking systems' resources without changing the transaction experience for the user.
 "RBI to have on-device wallets in UPI apps for small-ticket transactions")
Reserve Bank retains GDP growth forecast for current fiscal year at 9.5%
RBI retained the GDP growth forecast at 9.5 per cent for the current fiscal but cautioned that the economic recovery is not yet strong enough
 "Reserve Bank retains GDP growth forecast for current fiscal year at 9.5%")
Retail inflation expected to be around 5.3% during FY22: Reserve Bank
The Reserve Bank of India (RBI) on Wednesday said the retail inflation is expected to be around 5.3 per cent during the current fiscal year.
 "Retail inflation expected to be around 5.3% during FY22: Reserve Bank")
RBI leaves key rates on hold amid Omicron risks; analysts weigh in
The committee held the lending rate, or the repo rate , at 4%. The reverse repo rate, or the key borrowing rate, was also maintained at 3.35%
 "RBI leaves key rates on hold amid Omicron risks; analysts weigh in")
Sensex gallops 1,016pts on status-quo RBI policy; Nifty ends above 17,450
Rate sensitives' like auto, financials and real-estate shares logged smart gains in trade on Wednesday
 "Sensex gallops 1,016pts on status-quo RBI policy; Nifty ends above 17,450")
Bulls roar back! Sensex gains 887pts, Nifty ends 265pts higher; Banks lead
The broader indices also surged over a per cent each, and gainers outnumbered losers in 2.5:1 ratio
 "Bulls roar back! Sensex gains 887pts, Nifty ends 265pts higher; Banks lead")
RBI imposes curbs on Nagar Urban Co-op Bank, caps withdrawals at Rs 10,000
The restrictions, imposed through directions under the Banking Regulation Act (as applicable to co-operative societies), 1949, shall remain in force for a period of six months
RBI MPC starts deliberations amid expectations of status quo in policy rate
The Reserve Bank's rate-setting panel began its three-day deliberations on Monday to decide the next monetary policy amid expectations that the central bank will maintain status quo on interest rate
 "RBI MPC starts deliberations amid expectations of status quo in policy rate")
Sensex plunges 949pts, Nifty ends 285pts lower; Airtel, RIL, IT shares drag
The broader markets also weakened towards the end of the trade, and the BSE Midcap and Smallcap indices ended with a loss of 1.4 per cent each
 "Sensex plunges 949pts, Nifty ends 285pts lower; Airtel, RIL, IT shares drag")
Top headlines: RBI monetary policy; test to screen multiple Covid variants
India Inc finances face a threat from the rise in interest rate in recent months. More on that story in our top headlines.
Best of BS Opinion: Next big tech revolution, status quo on rates, and more
Here is the best of Business Standard's opinion pieces for Monday
 "Best of BS Opinion: Next big tech revolution, status quo on rates, and more")
RBI likely to hike reverse repo by 20 bps despite uncertainty on Omicron
If Omicron becomes a major issue, risks to India's inflation will likely rise further
Best of BS Opinion: India's future urbanisation, nuclear fusion and more
Here is the best of Business Standard's opinion pieces for Saturday
 "Best of BS Opinion: India's future urbanisation, nuclear fusion and more")
Omicron scare may delay RBI plan to normalise accommodative monetary stance
The six-member monetary policy committee of the RBI will meet from December 6-8 to review the policy
Bank credit offtake shows stickiness, rises 7% in November: RBI data
Rating agency CARE in a statement said the credit growth is expected to be in the range of 7.5% to 8.0% for FY22.
 "Bank credit offtake shows stickiness, rises 7% in November: RBI data")
Despite privatisation of PSU banks, low-cost banking needs digital approach
The scope of banking is much more than can be read from the current rate of credit growth to industry, which has only picked up to 4.1% in October 2021 from a contraction of 0.7% a year ago
 "Despite privatisation of PSU banks, low-cost banking needs digital approach")
Need to resurrect concept of gold bank to monetise physical gold: R Gandhi
There is a need to establish a gold bank in the country to help monetise physical gold lying with people, Reserve Bank of India's former deputy governor R Gandhi said on Wednesday.
 "Need to resurrect concept of gold bank to monetise physical gold: R Gandhi")
The tech holes that ensure that crypto can never be effectively banned
It is estimated that $1.25 billion worth of cryptocurrency transactions have happened on decentralised finance platforms from India
 "The tech holes that ensure that crypto can never be effectively banned")
