By Ronojoy Mazumdar The rupee’s outperformance last month that turned it into Asia’s best performer may be indicating the central bank’s higher tolerance for a stronger currency with the focus on curbing imported inflation, analysts said. The currency rallied 2% in May, the biggest monthly advance in more than two years, as Covid cases eased, … Read more
By Subhadip Sircar India’s sovereign bond yields are likely to head sideways in coming months before starting to spike higher toward year-end, according to a 25-year bond-market veteran. Signs of quicker inflation and concern the Reserve Bank of India will pull back on policy support should eventually put yields on a rising path, said Radhavi … Read more
The Congress asked the government to explain the mounting trend of bank frauds from 2014-15 to 20120-21 as shown in the annual reports of the Reserve Bank of India (RBI) and alleged that this unchecked fraud would only make “the nation’s journey from the promised $5 trillion economy to a Rs 5 trillion bank fraud”. … Read more
The subdued spends on credit cards in FY21 also reflected in banks’ credit growth. Synopsis The number of card-based transactions through credit and debit modes decreased by 19 per cent and 20.6 per cent, respectively in FY21. The value of these card-based transactions, too, fell by 13.7 per cent and 5.9 per cent, respectively to … Read more
Mumbai: India risks sacrificing economic growth and exposes itself to the need for constant policy interventions if it targets an inflation rate below 6% — the threshold inflation level, hints a study headed by a former member of the Reserve Bank of India’s Monetary Policy Committee. If the country then chooses an inflation target that … Read more
MUMBAI: The issue price for the second tranche of the sovereign gold bond issue has been fixed at Rs 4,842 per gram, the Reserve Bank of India said on Friday. The Sovereign Gold Bond Scheme 2021-22 – Series II or the second tranche will be open for subscription from May 24 to 28. The government … Read more
The government may form a fresh panel of experts to study the possibility of regulating cryptocurrency in India, three sources privy of the discussions told ET. This comes amid the prevailing view that the recommendations by a committee headed by former finance secretary Subhash Garg in 2019 for a blanket ban on these assets had … Read more
Mumbai: The Reserve Bank of India’s (RBI) working group to regulate unsupervised digital lending through loan apps is all set to put the onus on the banks and non-banking lenders concerned to supervise the entities with which they do business, two people aware of the development told The Economic Times. The panel is likely to … Read more
Indian retail inflation likely eased to a three-month low in April on softening prices for vegetables and other perishable foods, a Reuters poll suggested, bringing the headline rate closer to the midpoint of the Reserve Bank of India‘s medium-term target. That reprieve would provide policymakers with some relief as they seek to keep prices under … Read more
Private banks, which worked as agency banks for government businesses prior to 2012, are allowed to undertake such agency jobs for central and state governments without any fresh approval, Reserve said Monday. Banks seeking fresh approval from RBI for government agency businesses should be healthy and are not under prompt corrective action framework or moratorium … Read more