Page 66 - Latest Updates on Reserve Bank of India
SMCB becomes India's first urban co-operative bank to transition to SFB
The bank had received an in-principal approval from the RBI for transitioning to a SFB in January 2020
 "SMCB becomes India's first urban co-operative bank to transition to SFB")
Card networks to make recurring payments to PIDF, support initial corpus
RBI's payment infrastructure development fund to be valid for three years, effective January 1, can be extended by two more years
 "Card networks to make recurring payments to PIDF, support initial corpus")
RBI starts LEI for large value transactions in centralised payment systems
Legal entity identifier will apply to all RTGS and NEFT transactions of Rs 50 cr and above; LEI is a 20-digit number used to uniquely identify parties to financial transactions worldwide
 "RBI starts LEI for large value transactions in centralised payment systems")
RBI wants IDBI Bank to come out of PCA framework before stake sale
The government's shareholding in the lender is 47.11 per cent, while LIC holds 51 per cent in it
 "RBI wants IDBI Bank to come out of PCA framework before stake sale")
On the chessboard: 2021 will see tectonic shifts in the banking industry
India Inc could make a re-entry into commercial banking - 40 years after the last round of bank nationalisation in 1980
 "On the chessboard: 2021 will see tectonic shifts in the banking industry")
Thoughts on banking in the new decade
Those banks that remain complacent, bragging about their captive customer base, may turn dinosaurs
We could be on the cusp of banking 2.0
The last couple of years saw the RBI taking up the sheet anchor role to steer the economy. The accommodative interest-rate stance implies that it is ready to walk the extra mile to bolster the economy
 "We could be on the cusp of banking 2.0")
States, UTs set to borrow Rs 3.16 trillion through SDLs in March quarter
Overall, in Q3FY21, gross SDL issue was Rs 2.02 trn
 "States, UTs set to borrow Rs 3.16 trillion through SDLs in March quarter")
Bank credit growth slows in Q2; personal loans maintain double-digit growth
Industrial credit, however, contracted 1.7 per cent YoY and its share in total credit was nearly 30 per cent at the end of the quarter.
 "Bank credit growth slows in Q2; personal loans maintain double-digit growth")
Indian banks' loans rose 6.1% in two weeks to Dec 18, shows RBI data
Outstanding loans rose 518.61 billion rupees ($7.09 billion) to 105.50 trillion rupees in the two weeks to Dec. 18
 "Indian banks' loans rose 6.1% in two weeks to Dec 18, shows RBI data")
RBI to conduct simultaneous sale-purchase of govt securities on Jan 7
The Reserve Bank of India will conduct simultaneous purchase and sale of government securities under open market operations for Rs 10,000 crore each on January 7
 "RBI to conduct simultaneous sale-purchase of govt securities on Jan 7")
CCPA seeks RBI intervention on banks delaying refund when transactions fail
Newly set up consumer protection regulator CCPA has flagged this issue to the RBI seeking its intervention to ensure banks reverse such money on time
 "CCPA seeks RBI intervention on banks delaying refund when transactions fail")
New Year's Day to Christmas, check out the full list of bank holidays 2021
Except in Chennai, Aizawl, Gangtok, Imphal, and Shillong, the banks will remain open across all other major cities of India on 1 January 2021
 "New Year's Day to Christmas, check out the full list of bank holidays 2021")
Rupee becomes worst-performing Asian currency; bonds rally in 2020
Rupee has depreciated 2.3 per cent in this calendar year
 "Rupee becomes worst-performing Asian currency; bonds rally in 2020")
Housing price index growth moderates, varies widely among major cities
The HPI increased 9 per cent in Ahmedabad, and contracted 5.5 per cent in Delhi
 "Housing price index growth moderates, varies widely among major cities")
Non-food bank credit grows 6% in November, shows RBI data
Non-food credit growth of banks stood at 6 per cent in November 2020 as compared to 7.2 per cent in the same month of the previous year, RBI data showed
 "Non-food bank credit grows 6% in November, shows RBI data")
Best of BS Opinion: Bank recap, a wobbly first year for the CDS & more
Here's a selection of Business Standard opinion pieces for the day
 "Best of BS Opinion: Bank recap, a wobbly first year for the CDS & more")
With RBI harping on increased supervision, frauds decline in banking system
The recent collapse of PMC Bank due to fraud and deficient corporate governance "has dented public confidence in UCBs"
 "With RBI harping on increased supervision, frauds decline in banking system")
2020, the year that was: Coronavirus shadow may not go anytime soon
Achieving a vaccine roll-out on a scale that social-distancing norms can be dispensed with can't be expected for most of 2021
 "2020, the year that was: Coronavirus shadow may not go anytime soon")
UCBs' asset quality and finances deteriorate in FY20, says RBI report
The rise in NPAs may partly be attributable to stagnant growth in loans and advances and weak balance sheets
 "UCBs' asset quality and finances deteriorate in FY20, says RBI report")
