RBI
RBI allows KYC updation till March 2022 amid Omicron uncertainty
The RBI, through a notification, said it is extending the deadline in view of the "prevalent uncertainty due to new variant of Covid-19".
Private cryptocurrencies pose risk, prone to frauds, illegal acts: RBI report
As per the cryptocurrencies pose immediate risks of frauds, to anti-money-laundering efforts, and fight aginst terror financing. Besides, these assets are prone to extreme price volatility, given their highly speculative nature, the RBI said in its latest Financial Stability Report. "Longer term concerns relate to capital flow management, financial and macro-economic stability, monetary policy transmission and currency substitution," the report said.
Private cryptocurrencies pose risk, prone to frauds, illegal acts: RBI report
As per the cryptocurrencies pose immediate risks of frauds, to anti-money-laundering efforts, and fight aginst terror financing. Besides, these assets are prone to extreme price volatility, given their highly speculative nature, the RBI said in its latest Financial Stability Report. "Longer term concerns relate to capital flow management, financial and macro-economic stability, monetary policy transmission and currency substitution," the report said.
Banks need to further bolster capital positions to absorb stress: RBI report
"Although credit offtake by banks remained subdued in an environment of risk aversion and muted demand conditions during 2020-21, a pick up has started in Q2:2021-22, with the economy emerging out of the shadows of the second wave of Covid-19," the RBI said in its report 'Trend and Progress in Banking in India 2020-21'.
RBL Bank didn't provide satisfactory answer for RBI appointing director
RBI's long-term discomfort with the unsecured heavy asset-side construct (MFI plus cards at 31 per cent) creating asset quality risks as seen during the Covid-19 pandemic and poor compliance with its directives about risk management/governance/succession could have possibly led to its swift intervention, apart from ensuring a smooth management transition and comforting the stakeholders.
Investors approach RBI to buy stake in RBL Bank: Report
Several well known investors have lined up to buy a stake in RBL Bank and sought Reserve Bank's permission, according to a media report.The report said that the investors approached RBI with proposals to buy 10 per cent stake in the bank.
India's foreign exchange dip lower by $160 million
The Reserve Bank of India's forex reserves decreased to $635.667 billion from $635.828 billion during the week ended December 10. India's forex reserves comprise foreign currency assets (FCAs), gold reserves, SDRs, and the country's reserve position with the IMF.
RBI extends card tokenisation deadline till June 30
"The timeline for storing of CoF (card-on-file) data is extended by six months, i.e., till June 30, 2022; post this, such data shall be purged," it said in a notification. "In addition to tokenisation, industry stakeholders may devise alternate mechanism(s) to handle any use case or post-transaction activity that currently involves or requires storage of CoF data by entities other than card issuers and card networks."
RBI to the rescue: Sizeable intervention seen to arrest rupee fall
The RBI is known to enter the markets via intermediaries to either sell or buy US dollars to keep the rupee in a stable orbit. However, the decline might trigger again on the back of continuous selling by FIIs in the secondary market. Lately, growing cautiousness over a US Fed's tapering measures as well as scare around the Omicron variant of the Covid-19 impacted investors sentiments.
Omicron concerns, FII outflows to pull Rupee lower; Likely RBI moves to stem volatility
Besides, high YoY trade deficit along with new US tapering measures will hamper any appreciation move. However, the downside will be capped by lower oil prices along with probable RBI interventions. The RBI is known to enter the markets via intermediaries to either sell or buy US dollars to keep the rupee in a stable orbit.
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