EU moves to tweak rules on foreign central counterparties amid tussle between RBI and European regulators

EU moves to tweak rules on foreign central counterparties amid tussle between RBI and European regulators

Mumbai: European Union authorities have proposed amending norms on exposure to third-country clearing houses, a move that comes amid a protracted tussle between the Reserve Bank of India (RBI) and regulators from the continent on treating the primary domestic sovereign bond platform. ET has seen a document dated February 13 that showed the General Secretariat … Read more

RBI proposes norms for disclosure of climate-related financial risks for lenders

RBI proposes norms for disclosure of climate-related financial risks for lenders

Kolkata: The Reserve Bank of India has told banks and other lenders to disclose more information about their climate-related financial risks so that stakeholders — from regulators to customers — can understand and assess the risk early. Climate-related disclosures by regulated entities is an important source of information for different stakeholders — customers, depositors, investors … Read more

Maternity benefits | Differentiation not permissible between regular, contractual employees: Calcutta High Court

Maternity benefits | Differentiation not permissible between regular, contractual employees: Calcutta High Court

A view of the Calcutta High Court. File | Photo Credit: The Hindu Observing that no differentiation is permissible between regular and contractual employees on the question of a woman’s right to childbirth and maternity leave, the Calcutta High Court has directed the Reserve Bank of India (RBI) to compensate an executive intern. The petitioner, … Read more

RBI wants to keep inflation vigil, MPC’s external members see room to ease a bit

RBI wants to keep inflation vigil, MPC’s external members see room to ease a bit

Mumbai: Temporary food shocks, fiscal consolidation and high real interest rates have created the scope for reduction in policy interest rates, said external members of the Monetary Policy Committee, but those from the Reserve Bank of India (RBI) believe that the markets are running ahead of policy makers. Prof. J.R. Varma, who voted for a … Read more

India needs to grow at 7-8 per cent annually to become developed nation by 2047, says Ex RBI Guv C Rangarajan

India needs to grow at 7-8 per cent annually to become developed nation by 2047, says Ex RBI Guv C Rangarajan

India needs to grow at seven to eight per cent annually in order to become a developed nation with USD 13000 per capita income by 2047, former Reserve Bank Governor C Rangarajan said on Tuesday. Asserting that innovation cannot be a single solution to reduce inequalities or poverty, the former Chairman of the Prime Minister’s … Read more

Hyderabad merchants gear up for a smooth ride amid Paytm fiasco 

Hyderabad merchants gear up for a smooth ride amid Paytm fiasco 

  The Reserve Bank of India’s action against online recharge and bill payment service PayTM has created uncertainty among small businesses and traders who rely on the service for their daily transactions. The RBI has barred Paytm Payments Bank (PPBL), which has over 30 crore wallets and three crore bank accounts, from offering all forms … Read more

RBI likely to focus on non-rate steps to fight rising inflation

RBI likely to focus on non-rate steps to fight rising inflation

Mumbai: The Reserve Bank of India is likely to deploy non-interest rate measures to ensure that its action of raising borrowing costs by 250 basis points since May 2022 is fully passed on to borrowers to combat rising inflation. A big chunk of the increase is yet to be passed on.The transmission of policy rates … Read more

Digital payments rise 10.94 pc annually at September-end 2023: RBI data

Digital payments rise 10.94 pc annually at September-end 2023: RBI data

Mumbai, Digital payments across the country registered a growth of 10.94 per cent in a year through March 2023, as per RBI‘s index that measures the adoption of online transactions. RBI’s Digital Payments Index (RBI-DPI) stood at 418.77 at end-September 2023 compared to 377.46 in September 2022 and 395.57 in March 2023. “The RBI-DPI index … Read more

Banks may alert RBI as rising funding costs sting amid ​sustained liquidity drainage

Banks may alert RBI as rising funding costs sting amid ​sustained liquidity drainage

Mumbai: Banks are likely to make representations to the Reserve Bank of India (RBI) on sustained liquidity drainage that has pushed up funding costs for lenders despite unchanged policy rates for nearly a year. Liquidity has steadily declined with the central bank repeatedly stressing the primacy of maintaining price stability as Indian voters get ready … Read more

Interim Budget 2024: Will Centre raise minimum pension amount under Atal Pension Yojana? Here's what we know

Interim Budget 2024: Will Centre raise minimum pension amount under Atal Pension Yojana? Here's what we know

Union Finance Minister Nirmala Sitharaman will read out the Interim Budget 2024 on February 1. Though there is a clear indication that the Centre may not declare major changes in the taxation system like last year, there is a buzz that the Cente may bring in some modifications in the Atal Pension Yojana. Government sources … Read more