Page 33 - Latest Updates on Reserve Bank of India
RBI fines Axis Bank Rs 25 lakh for flouting KYC norms
The fine is based on a scrutiny carried out by RBI during February 2020 and March 2020 in a customer account maintained with the bank
 "RBI fines Axis Bank Rs 25 lakh for flouting KYC norms")
Rupee's sudden gains have traders speculating RBI is easing grip
The rupee has rallied 1.6% in the previous three sessions to post its biggest gain for the period since March 2
 "Rupee's sudden gains have traders speculating RBI is easing grip")
RBI, govt working to get g-secs included in global indices: Governor Das
He reiterated his stance that G-Sec is a "public good", as it is the benchmark for pricing various instruments in the economy
 "RBI, govt working to get g-secs included in global indices: Governor Das")
'RBI to conduct fine-tuning operations to manage one-off liquidity flows'
Govt securities provide robust backbone for development of corporate bond market, says RBI Governor
Real test of monetary policy is in time of supply shocks: MPC 1.0 member
'Our collective decision was to record our views through the MPC minutes and not elsewhere,' says Chetan Ghate.
 "Real test of monetary policy is in time of supply shocks: MPC 1.0 member")
Jerome Powell speech unlikely to stir India markets, deter foreign inflows
On the contrary, flows into India may surge if the Covid situation remains in control, say experts
 "Jerome Powell speech unlikely to stir India markets, deter foreign inflows")
RBI raises incentive for banks for distribution of coins to public
The Reserve Bank of India has increased incentives for banks for the distribution of coins to the general public to Rs 65 per bag with effect from September 1.
 "RBI raises incentive for banks for distribution of coins to public")
Slack in economy, not the right time to change policy course: RBI Governor
Shaktikanta Das tells TV channel that capacity utilisation is nowhere near pre-pandemic levels
 "Slack in economy, not the right time to change policy course: RBI Governor")
Central banks should not mandate 'green' investments: Raghuram Rajan
The former RBI governor said central banks should turn their focus to the financial stability of these green investments and other threats such as crypto currencies and cyber security
 "Central banks should not mandate 'green' investments: Raghuram Rajan")
RBI promotes Ajay Kumar as Executive Director effective August 20
Prior to becoming ED, Kumar was heading RBI's New Delhi Regional Office as regional director
 "RBI promotes Ajay Kumar as Executive Director effective August 20")
Working with RBI to ensure customers don't have to key in card number: PCI
The RBI's new rules are supposed to kick in from January 2022
 "Working with RBI to ensure customers don't have to key in card number: PCI")
Liaison office of WEF in India exempt from GST, rules AAR Maharashtra
Says services rendered by forum's liaison office are not for furtherance of business, and that the office is a public interest not-for-profit set up that needn't be registered under GST law
 "Liaison office of WEF in India exempt from GST, rules AAR Maharashtra")
RBI panel suggests umbrella body for helping smaller UCBs scale up
Says large UCBs that cannot function fully as a bank be treated like SFBs
 "RBI panel suggests umbrella body for helping smaller UCBs scale up")
HDFC Bank aims to issue 300,000 credit cards per month from next quarter
HDFC Bank is looking at winning back the market share by number of cards in the next one year, a senior official said on Monday.
 "HDFC Bank aims to issue 300,000 credit cards per month from next quarter")
IBA seeks licence to set up Rs 6,000-cr bad bank, RBI nod soon: Report
RBI's approval could come either in September or October, sources added
MPC member Varma the only one to favour raising reverse repo rate
His was the lone dissenting voice against a continued "accommodative" stance, minutes of the August 4-6 meetings showed
MPC minutes: RBI Guv pitches for continued policy support to revive growth
Reserve Bank Governor Shaktikanta Das opined that continued policy support with a focus on revival and sustenance of growth was the most desirable and judicious policy option at the moment
FDI for bank-promoted insurance firm to be vetted by RBI, Irdai: Govt
Foreign direct investment in an insurance company promoted by a private bank will be cleared by the RBI and Irdai to ensure that the 74 per cent limit of overseas investment is not breached, govt said
 "FDI for bank-promoted insurance firm to be vetted by RBI, Irdai: Govt")
Why RBI disagrees with market perception on policy normalisation
RBI's announcement of liquidity absorption through the variable reverse repo auction was interpreted by the market as an indication of withdrawal from the accommodative stance
 "Why RBI disagrees with market perception on policy normalisation")
Lifting of credit card ban may spark up to 32% rally in HDFC Bank: Analysts
The scrip surged 3 per cent at Rs 1,564.75 on the BSE in intra-day trade on Wednesday and was among the top gainers on the BSE barometer
 "Lifting of credit card ban may spark up to 32% rally in HDFC Bank: Analysts")
