Page 36 - Latest Updates on Reserve Bank of India
Regulations key to orderly growth of microfinance
The RBI's CD defines microfinance clients based on the current household income limit applicable for NBFC-MFIs
 "Regulations key to orderly growth of microfinance")
RBI's new rules on interchange fee, 24/7 bulk clearing facility functional
The Reserve Bank of India's new directions on raising interchange fee and making available the facility of bulk clearing round the clock have become effective from Sunday onwards.
 "RBI's new rules on interchange fee, 24/7 bulk clearing facility functional")
Tax buoyancy curtails Centre's fiscal deficit to an eight-year low
Centre's spending showed volatile trend during April-June period
 "Tax buoyancy curtails Centre's fiscal deficit to an eight-year low")
India rupee, bonds fall for second straight month; RBI policy in focus
Sentiment has been lifted after the Fed did not outline a taper timeline, which is expected to aid local shares and the rupee in the near future.
 "India rupee, bonds fall for second straight month; RBI policy in focus")
India's inflation could go past RBI target rest of 2021, say report
Forecasts for gross domestic product were raised to a 9.2% expansion in the fiscal year ending March 2022, from the previous 9%, while the gross value added outlook edged down slightly to 9%.
 "India's inflation could go past RBI target rest of 2021, say report")
RBI fines Axis Bank Rs 5 crore for non-compliance with certain rules
The action, RBI clarified, was based on the deficiencies in regulatory compliance
 "RBI fines Axis Bank Rs 5 crore for non-compliance with certain rules")
RBI allows wallets, white label card networks to access RTGS, NEFT systems
Centralised Payment Systems' access will also help lower cost of payments for non-banks, reduce their dependence on banks, says RBI
 "RBI allows wallets, white label card networks to access RTGS, NEFT systems")
Currency creation
RBI should be careful in launching a digital currency
RBI eases norms for loans given by banks to directors of other banks
The Reserve Bank of India (RBI) on Friday said banks without their boards' approval can sanction personal loans up to Rs 5 crore to directors of other banks.
 "RBI eases norms for loans given by banks to directors of other banks")
RBI's tolerance for higher yields may mean end of transmission
After years of experimentation, policy transmission has become highly effective and occurs almost in real time in money markets
RBI to introduce Central Bank Digital Currency in phases: deputy governor
The RBI has been exploring the pros and cons of the introduction of CBDCs since quite some time, deputy governor T Rabi Sankar said
 "RBI to introduce Central Bank Digital Currency in phases: deputy governor")
RBI clarifies IDFC can exit bank as a promoter as lock-in period ends
IDFC announced receiving the RBI's approval in a notification to the exchanges
 "RBI clarifies IDFC can exit bank as a promoter as lock-in period ends")
Hope fades for PSBs
Govt cannot keep infusing capital perpetually
 "Hope fades for PSBs")
Central banking conundrum
RBI should not continue to ignore inflation risks
MFI consultation paper: Incrementally positive for NBFC-MFIs, says report
The paper has proposed greater harmonisation in the overall regulatory landscape
 "MFI consultation paper: Incrementally positive for NBFC-MFIs, says report")
RBI should ease regulations for shipment credit
Many exporters do not find it practical to send the export documents through the banks because of the extra costs and delays involved
How the Mastercard incident highlights need for regulating digital trade
The Indian central bank pulled the plug on the US payments network for alleged noncompliance with its controversial local data storage rules introduced three years ago
 "How the Mastercard incident highlights need for regulating digital trade")
RBI must sacrifice inflation aim to aid growth: Ex-Guv Rangarajan
India will miss its fiscal deficit target of 6.8% of GDP by at least 1 percentage point, he said
 "RBI must sacrifice inflation aim to aid growth: Ex-Guv Rangarajan")
India's economy may have grown 22.1% in Q1, but demand is still low: RBI
The RBI, in its state of the economy report, cited a mathematical model that suggested, in the best and normal course, the third wave could just be a ripple and life would return to normalcy by August
RBI's move to ban Mastercard from issuing new cards may hit 5 private banks
Bajaj Finserv and SBI Cards also impacted
 "RBI's move to ban Mastercard from issuing new cards may hit 5 private banks")
