RBI proposes new category for bank investments

The Reserve Bank of India has proposed a new investment category called Fair Value through Profit and Loss Account (FVTPL) for banks as part of a overhaul of classification, valuation and operations of banks’ investment portfolios. In a discussion paper RBI said banks’ held for trading (HFT) portfolio will be housed within the nee FVTPL … Read more

Former RBI DG says central bank’s concerns on crypto stem from money laundering, valuation concerns

Former RBI Deputy Governor N S Vishwanathan on Wednesday said money laundering and lack of clarity on valuations are the primary concerns of central banks in being circumspect about the introduction of cryptocurrencies. If the government goes ahead and allows cryptocurrencies, bankers need to be wary and not confuse persons’ wealth with the amount of … Read more

Reserve Bank withdraws over 100 redundant circulars

The Reserve Bank on Tuesday withdrew more than 100 redundant circulars following recommendations made by the Regulations Review Authority. The redundant circulars withdrawn relate to certain norms concerning Foreign Investment in India by Foreign Portfolio Investors, RTGS, Know Your Customer (KYC), and Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) – Standards. The Regulations Review … Read more

RBI board reviews economic situation

The Central Board of Directors of the RBI on Friday reviewed the current domestic and global economic situation and challenges. The board also deliberated upon possible measures for addressing the emerging challenges, the Reserve Bank of India (RBI) said in a release. The 591st meeting of the board was held under the Chairmanship of Governor … Read more

RBI’s interest rate-setting panel starts deliberating next monetary policy

Reserve Bank’s rate-setting panel started its three-day deliberations on the next bi-monthly monetary policy on Wednesday amid rising global commodity prices and the need to contain inflation at home. The decision of the six-member Monetary Policy Committee (MPC) would be announced on Friday by RBI Governor Shaktikanta Das. Experts are of the view that the … Read more

RBI opens third cohort under the Regulatory Sandbox

The Reserve Bank of India on Friday announced the opening of third cohort under the Regulatory Sandbox (RS) with MSME Lending as its theme. The window for submission of applications for the Cohort shall be open from 01 October 2021 to 14 November 2021. “The MSME segment has emerged as the growth engine of Indian … Read more

Economic rebound expected on rapid vaccination, infra spend: Niti Vice-Chairman

A strong economic growth rebound is expected on the back of rapid vaccinations, a recovering monsoon boosting agricultural output, thrust on infrastructure investments by the government, and growth in export, Niti Aayog Vice-Chairman Rajiv Kumar has said. Kumar further said that as per consensus estimates, despite downward revision in the GDP growth projections, India is … Read more

Policy transmission improves post external benchmarks

Transmission of policy rates through both lending and deposit rates improved since the Reserve Bank introduced external benchmark linked lending rate, according to study by RBI economists. The cumulative reduction of policy repo rate by 250 basis points (bps- one bps is 0.01 per cent) between February 2019 to June 2021 has resulted in 155 … Read more

India poised for double-digit growth this fiscal; disinvestment climate looks better: Niti VC

With India’s story remaining “very strong”, the economy will register a double-digit growth in the current fiscal and the disinvestment climate also looks better, said Niti Aayog Vice Chairman Rajiv Kumar. He also asserted that the country is prepared in a far better manner in case there is a COVID wave as states have also … Read more