RBI

In the first segment, the offering includes the '7.37 per cent Government Security 2028,' set at a notified amount of Rs 12,000 crore, utilizing a price-based auction employing the multiple price method. Meanwhile, the second category comprises the 'New Government Security 2064,' totaling Rs 12,000 crore (nominal), to be auctioned through a yield-based approach, also using the multiple price method.

According to the directive, every regulated entity, including banks and housing finance firms, must furnish a KFS to prospective borrowers prior to finalizing the loan agreement. These statements will adhere to a standardized format provided by the RBI and will be presented in simple language comprehensible to the borrowers. It is crucial that the contents of the KFS are explained to the borrower, and their understanding is acknowledged.

This marks the seventh consecutive week witnessing a notable increase in the overall reserves. In the previous week ending March 29, the forex reserves had escalated by $2.95 billion, following a cumulative rise of $26.5 billion over the preceding five weeks.

The bond offerings encompass a diverse range, catering to various investment preferences. Among them are the 7.32 per cent Government Security 2030, with a notified amount of Rs 11,000 crore, slated for a price-based auction utilizing the price method. Additionally, the New Government Security 2039, valued at Rs 10,000 crore, will undergo a yield-based auction employing the multiple price method. Lastly, the 7.30 per cent Government Security 2053, with an amount of Rs 9,000 crore, will be available through a price-based auction utilizing the multiple price method.

The surge in the forex kitty amounted to $2.95 billion for the week, marking the sixth consecutive week of growth following a notable increase of $26.5 billion over the preceding five weeks.

Previously, UPI payments from PPIs were restricted to the respective web or mobile applications provided by the PPI issuers. However, with the introduction of third-party UPI apps, users can now enjoy enhanced convenience and accessibility in making payments. This strategic move is expected to catalyze the proliferation of digital payments across the economy, streamlining the transaction process for individuals and businesses alike.

This decision comes after a pause in the rate increase cycle that commenced in April of the previous year, following a series of six consecutive rate hikes amounting to 250 basis points since May 2022.