RBI
Hinduja Group to get RBI’s nod to hike stakes to 26% in IndusInd Bank
According to the sources close to the Hinduja group, the RBI is expected to give its formal clearance to the group for stake hike. At an analyst conference, the IndusInd Bank management had said the promoters have applied to RBI for a stake hike. Currently two companies – Indusind International Holdings Ltd and Indusind Ltd – hold 12.57 per cent and 3.93 per cent, respectively, in IndusInd Bank.
Kharge hits back at Centre after RBI's paper on inflation
In a tweet in Hindi, Kharge said: "When the Congress says that there is inflation, then Modiji's ministers say that 'inflation is not visible at all'. When the public says that there is inflation, then the Modi government makes excuses for supply, weather, war. "Now the RBI of the government itself is saying that due to the inflation, the public is spending less, due to which the sales have decreased and private investment has been badly affected.
India's forex reserves rise to $596.098 billion
The forex reserves had fallen $1.318 billion in the previous week. Also in the week ending June 16, foreign currency assets rose by $2.578 billion to $527.651 billion. During the week ending June 9, foreign currency assets had dipped by $1.128 billion.
Higher retail inflation has hit personal consumption expenditure: RBI bulletin
In its monthly bulletin for June 2023, released on Friday, it observed on the basis of national accounts data and corporate results, that rising retail inflation has slowed down personal consumption expenditure, which has resulted in scaling down of corporate sales and reduction in private investment towards capacity creation.
RBI's MPC unanimous in keeping rates unchanged, member echoes reservation
MPC member Jayanth Varma expressed reservations on continuation of the policy stance during the June 6-8 meeting of the rate setting committee of the RBI, whose minutes were released on Thursday by the central bank. He however did not mark his dissent, saying that the stance was vestigial at this juncture.
'Compromise settlement' provides ways to lenders to recover lost money: RBI
The RBI made the remarks while issuing a set issued a set of frequently asked questions (FAQs) on Framework for Compromise Settlements and Technical Write-offs. "The primary regulatory objective is to enable multiple avenues for lenders to recover the money in default without much delay," the RBI noted.
Swaminathan Janakiraman appointed RBI deputy governor
The Appointments Committee of Cabinet (ACC) on Tuesday approved his appointment. State Bank of India (SBI) managing director Swaminathan Janakiraman will hold the post for a period of three years from the date of joining or until further orders, whichever is earlier.
Cash transactions dramatically spike at petrol pumps, online orders
"As per our estimate consumption demand may be frontloaded by Rs 55,000 crore. With the bank note remaining a legal tender, unlike demonetisation, consumption could see a boost. Though, RBI asked customers to deposit or exchange the Rs 2,000 notes, but it is expected that high-value amounts could move to high-value spends such as gold/jewellery, high-end consumer durables like AC, mobile phones etc, and real estate," the report said.
RBI maintains a pause on rates in step with global markets - it helps
The Reserve Bank of India (RBI) earlier this month decided to maintain a pause on key policy rates for the second time in a row. While in April when the RBI had first paused the repo rates, real estate firms' shares had enjoyed good growth, mainly owing to positive sentiments among homebuyers, as the decision meant EMIs.
RBI rejects Akash Suri's appointment as CEO of JC Flowers Yes Bank ARC
Suri, before being appointed as CEO of the JC Flowers ARC, was the group president and national head of Yes Bank's asset reconstruction business. In July 2022, Yes Bank entered into a partnership with New York based JC Flowers to form an ARC for the sale of identified stressed loans of the bank.
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