Page 7 - Latest Updates on Reserve Bank of India
RBI may be more open to granting credit card licences to NBFCs: Macquarie
RBI also made it clear that NBFCs will have to take prior approval from the RBI for issuing credit cards to their customers.
 "RBI may be more open to granting credit card licences to NBFCs: Macquarie")
MPC minutes: Governor Das said RBI must match up to 'dynamic situations'
The five other members had also expressed a similar opinion amid the ongoing Russia-Ukraine conflict's impact on the global and domestic economies
 "MPC minutes: Governor Das said RBI must match up to 'dynamic situations'")
Loved by banks, bond trade worth Rs 2 trn faces scrutiny from RBI
Traders argue that the transactions are structured as so-called forward rate agreements, which are permitted by the RBI, allowing them to clear internal compliance checks
RBI launches next round of quarterly survey to assess business sentiment
The survey assesses business sentiment and expectations based on qualitative responses on a set of indicators pertaining to demand conditions, financial conditions, employment and the price situation
 "RBI launches next round of quarterly survey to assess business sentiment")
India must boost credit, labour to raise growth potential, says IMF
"We had lost two years of growth" because of the pandemic, Choueiri said in a separate interview Friday with Bloomberg Television's Kathleen Hays. "There is still catch up growth happening in India."
 "India must boost credit, labour to raise growth potential, says IMF")
RBI says non-banks need approval to issue credit cards, lists more rules
Minimum net-owned fund mandated at Rs 100 crore; cards cannot be unilaterally upgraded.
 "RBI says non-banks need approval to issue credit cards, lists more rules")
RBI directs UCBs to eliminate honorary positions within one year
The Reserve Bank on Thursday asked Urban Cooperative Banks (UCBs) not to create create any honorary position or title such Chairman Emeritus and Group Chairman at the board level
RBI sets 3-year deadline for non-individual borrowers to get tracking code
The LEI is a 20-character alpha-numeric code used to uniquely identify parties to financial transactions worldwide
Digital delivery
New-age banks will increase inclusion
 "Digital delivery")
RBI prohibits issuance of unsolicited cards by issuers, warns of penalty
It also asked card issuers and third-party agents not to resort to intimidation or harassment during recovery of dues from customers
Money sent abroad for travel grew threefold in February: RBI data
Reserve Bank of India (RBI) data showed in FY21, Indians spent about $3.23 billion for travel, sharply down from $6.95 billion in FY20.
 "Money sent abroad for travel grew threefold in February: RBI data")
Reserve Bank of India's latest norms won't be disruptive to NBFCs
Intend to narrow regulatory arbitrage between banks and shadow banks
 "Reserve Bank of India's latest norms won't be disruptive to NBFCs")
RBL Bank finalises next MD and CEO; sends names for RBI approval
The Board at its meeting held on Wednesday accepted the recommendations of the nomination and remuneration Committee, RBL said in a regulatory filing
 "RBL Bank finalises next MD and CEO; sends names for RBI approval")
Floater funds back in focus as interest rates are all set to climb
They are best suited among the bouquet debt funds to sail through volatility in debt markets, say industry players
 "Floater funds back in focus as interest rates are all set to climb")
RBI imposes Rs 17 lakh fine on Manappuram Fin for violating KYC, PPI norms
The penalty has been imposed in exercise of powers vested in RBI under Section 30 of the Payment and Settlement Systems Act, 2007, the regulator said in a release
 "RBI imposes Rs 17 lakh fine on Manappuram Fin for violating KYC, PPI norms")
RBI turns net purchaser of US currency in February, buys $771 mn
In the reporting month, the central bank bought $5.946 billion and sold $5.175 billion in the spot market, RBI said in its monthly bulletin for April 2022
Rate transmission pace to improve for external benchmarked loans: RBI study
The share of EBLR loans by banks rose from 2.4% in September 2019 to 28.6% in March 2021 and to 39.2% in December 2021, RBI says
India faces global challenges from position of strength, says RBI article
The article on 'State of the Economy', published in the April 2022 RBI Bulletin, said India enters Samvat 2079 having crested the third wave of the pandemic
Mkt hasn't adequately factored in risks to growth: Nomura's Saion Mukherjee
If inflation-related issues get more structural and last longer, rates can continue to surprise further on the upside, leading to contraction in valuation multiples: Saion Mukherjee
 "Mkt hasn't adequately factored in risks to growth: Nomura's Saion Mukherjee")
RBI looking for at least 50,000 sq ft office space in BKC, South Mumbai
The Reserve Bank of India (RBI) is planning to take on lease at least 50,000 square feet of office space in Bandra Kurla Complex (BKC) and South Mumbai.
