RBI
Torrent escalates Reliance Capital bid war against Hinduja to RBI
In a new letter to RBI Deputy Governor M. Rajeshwar Rao dated December 28, Torrent Investments sought directions to Nageswara Rao Y, the administrator of Reliance Capital. The letter said that the challenge process was concluded on December 21 with the administrator's email to Torrent Investments confirming its NPV bid amount of Rs 8640 crore as the highest bid amount.
Despite global recessionary headwinds, Indian economy is comfortably placed
However, as 2022 comes to a close, tackling inflation is going to be one of the most significant challenges of the Indian economy.
Though as can be seen from the central bank's observation, inflation seems to have tapered off to an extent in October 2022, but will continue to fox RBI in the new year too.
Forex reserves fall to $562 billion during period ending Dec 23: RBI data
Prior to this week, the forex reserves had slipped by $571 million to $563.499 billion. Forex reserves have been falling, as they are being used to bolster the declining rupee. The country's reserve position with the International Monetary Fund (IMF) was up by $45 million to $5.159 billion in the reporting week, the data showed.
Indians' overseas financial assets fell $43.9 bn in July-Sep: RBI report
At the same time, an increase was seen in trade credit, currency and deposits as well as overseas direct investment, the report said. According to the report, net claims of non-residents on India rose by $34.3 billion during the second quarter of 2022-23 and stood at $389.6 billion in September 2022.
India mulls prohibiting unbacked crypto assets in G20 presidency
In its latest Financial Stability Report (FSB), the central bank said that crypto assets are highly volatile. "The collapse and bankruptcy of the crypto exchange FTX and subsequent sell-off in the crypto assets market have highlighted the inherent vulnerabilities in the crypto ecosystem," according to the report.
Despite headwinds, Indian financial system resilient, says RBI report
"The global economy is facing formidable headwinds with recessionary risks looming large. The interplay of multiple shocks has resulted in tightened financial conditions and heightened volatility in financial markets," observed the RBI's Financial Stability Report."Buoyant demand for bank credit and early signs of a revival in investment cycle are benefiting from improved asset quality, return to profitability and strong capital and liquidity buffers of scheduled commercial banks (SCBs)," it said.
RBI cracked the whip on ICICI, others, for flouting norms, but was ignored: RTI
The RTI of July 2019 shows the time-period of the SCNs and penalties to the banks - from April 2017 - to the State Bank of India, Deutsche Bank, ICICI Bank, Yes Bank, Axis Bank, IDBI Bank, Indusind Bank, Jammu & Kashmir Bank, Karur Vysya Bank, South Indian Bank.
Govt raised Rs 4,06,000 cr through dated securities in July-Sept: Debt management report
Repayments stood at Rs 92,371.15 crore, as per the reports. The weighted average yield of primary issuances hardened to 7.33 per cent in the second quarter of the current fiscal from 7.23 per cent in first quarter of 2022-23.
Financial literacy poor across urban, rural population in country: RBI survey
However, in what can be termed as a revelation, according to a pan-India "Financial Literacy and Inclusion survey" conducted by the Reserve Bank of India (RBI), digital banking awareness and knowledge among rural and urban population across the country is at par with each other, with the average being 11.7 for both segments on a score of 21.
LIC Housing Finance loans turns costlier
According to LIC Housing, PLR is the benchmark rate to which the interest rate on its loans is linked. The new interest rates on home loans will now start from 8.65 per cent. The new rates will be effective from Monday, December 26, the company said.
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