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The Latest Breaking News from RBI

RBI's rate-setting panel to start 3-day meet on September 28, another rate hike likely

MUMBAI: The Reserve Bank's rate-setting panel will start its 3-day deliberations on Wednesday amid expectations of yet another rate hike of 50 basis points to check high inflation, in line with similar actions taken by other major central banks, including the US Fed.

The Times of India

Sensex, Nifty end lower on selloff in metal, banking stocks

MUMBAI: Key benchmark indices sensex and Nifty closed lower for the fifth straight session on Tuesday in a volatile trade tracking losses in metal, banking and financial stocks.

The Times of India

Only request to PM Modi is to stop Rupee from scoring century: Congress

Congress Spokesperson Supriya Shrinate said for the first time in history, the rupee is racing fast towards 82 against the dollar

The Hindu

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India has fairly large forex reserve to deal with current situation: Economic Affairs Secretary

Foreign exchange reserves were down for a seventh continuous week, dropping to $545.65 billion on September 16.

The Hindu

Sensex tumbles 954 points; Nifty settles at 17,016: Top reasons behind market fall

NEW DELHI: Equity indices dragged for the fourth straight session on Monday with the benchmark BSE sensex crashing over 900 points amid weak global market trends and foreign fund outflows.

The Times of India

The death trap that’s India’s illegal loan apps

One night in November 2020, Sai Aravind, telephoned a friend. In the course of the two-hour conversation, the 23-year-old wept incessantly, almost unable to speak through his tears.

Newslaundry

Currency pressure: On the rupee’s depreciation against the dollar

The Reserve Bank of India will have to ensure price stability and prevent further weakening of the rupee

The Hindu

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Economists see RBI delivering another 50 bps hike next week

MUMBAI: Economists are unanimous in forecasting that the central bank has no other option but to deliver a 50 bps rate hike next week and take the terminal rate to 6.25 per cent by December.

The Times of India

Sensex crashes 1,021 points; Nifty settles at 17,327: Top reasons behind market fall

NEW DELHI: Equity indices dragged for third straight session on Friday with the benchmark BSE sensex crashing over 1,000 points amid an overall bearish trend in global markets.

The Times of India

Good investment climate boosts project financing

The State’s share in the overall project cost of ₹1,43,314 crore sanctioned by banks and financial institutions increased to 8.7% in 2021-22 from just 0.7% of ₹75,558 crore in 2020-21

The Hindu

RBI cancels licence of Maharashtra-based Laxmi Co-operative Bank

NEW DELHI: The Reserve Bank of India (RBI) on Thursday cancelled licence of The Laxmi Co-operative Bank Limited in Solapur, Maharashtra citing inadequate capital and earning prospects.

The Times of India

Explained | The electoral bonds scheme and the challenges to it in Supreme Court

So far, from March 2018 to April 2022, over 18 thousand bonds worth over ₹9.8 thousand crore have been sold by the SBI in 20 tranches

The Hindu

Explainer: What if US economy goes into recession? How it may impact India

NEW DELHI: The US Federal Reserve is expected to lift interest rates by three-quarters of a percentage point for a third straight time on Wednesday and signal how much further and how fast borrowing costs may need to rise to tame a potentially corrosive outbreak of inflation.

The Times of India

RBI removes Central Bank of India from corrective action list

MUMBAI: The Reserve Bank on Tuesday said Central Bank of India has been removed from the Prompt Corrective Action Framework (PCAF) watchlist following improvement in various parameters and a written commitment that the state-owned lender will comply with the minimum capital norms.

The Times of India

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The Times of India

RBI wants fintech operators to follow rules of game: Shaktikanta Das

MUMBAI: Warning against mushrooming of lending apps and their usurious recovery prices, the Reserve Bank said it is not interested in penalizing operators or stifling innovation but wants them to follow the rules of the game, governor Shaktikanta Das said on Tuesday.

The Times of India

India Inc's overseas direct investment drops 59% at $1.03 billion in August: RBI data

MUMBAI: India Inc's investment in their overseas ventures dropped by 59 per cent on an annual basis to $1.03 billion in August this year, data from Reserve Bank showed on Friday.

The Times of India

State Bank opening rupee accounts for trade with Russia

State Bank of India (SBI), the country’s largest lender, is opening special rupee accounts to handle Russia-related trade settlements in the local currency but is not the main bank for such business.

The Times of India

Explained: What India needs to do to tame soaring inflation

NEW DELHI: Just when the world was gradually recuperating from the slowdowns caused by Covid-19 pandemic in the last 2 years, the war between Russia and Ukraine worsened matters.

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The Hindu

India not defending INR; Rupee can take care of itself: Chief Economic Advisor Anantha Nageswaran

Chief Economic Advisor V. Anantha Nageswaran said the Rupee is being managed in a manner that reflects the fundamentals of the economy.

The Times of India

Soft landing for India means fast, if not fastest, growth

NEW DELHI: The Reserve Bank of India (RBI), which last month vowed to do “whatever it takes” to fight inflation, is expected to refocus efforts toward its own version of a soft landing where it tackles price gains while trying to ensure growth remains among the world’s fastest.

The Times of India

Retail inflation rises to 7% in August as food prices surge

NEW DELHI: India's retail inflation based on consumer price index (CPI) snapped a 3-month downward trend in August and surged to 7%, data released by government showed on Monday. The jump has mainly been on account of surge in food prices.

The Hindu

Food prices may affect August inflation

Retail inflation was 7.28% in first quarter, while RBI expects it to touch 7.1%

The Hindu

Staying the course: On monitoring inflation

Inflation may have moderated a bit, but remains a threat that warrants constant vigil

The Times of India

Finance minister Nirmala Sitharaman outlines steps to check operations of illegal loan apps

NEW DELHI: Finance minister Nirmala Sitharaman has discussed various issues related to illegal loan apps in a meeting and decided to take a host of measures to check operations of such apps, amid rising instances of digital fraud.

The Hindu

Nirmala Sitharaman initiates crackdown on illegal loan apps

The Union Finance Minister asks RBI to prepare a 'Whitelist' of legal loan apps

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