Tag: RBI

RBI Bi-monthly Monetary Policy Review February 2022 – Highlights and Key Takeaways

RBI’s Monetary Policy Committee (MPC) had began its three-day deliberations on February 8th instead of 7th due to Maharashtra government’s decision to declare February 7 as a public holiday to mourn the passing of the singing legend Lata Mangeshkar.
The RBI has decided to continue its accomodative stance and has kept repo rate unchanged at 4 percent and reverse repo rate unchanged at 3.35 percent. The Reserve Bank of India has projected real GDP Growth at 7.8 percent for fiscal year 2022-23.The CPI inflation projection has been retained at 5.3% for FY 2021-22 and 4.5% for FY 2022-23.

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RBI Bulletin January 2022

The Reserve Bank of India released the January 2022 issue of its monthly Bulletin which includes two speeches, four articles and current statistics. The four articles are: I. State of the Economy; II. Indian Agriculture: Achievements and Challenges; III. The Impact of Covid-19 Pandemic on Consumer Confidence in India; and IV. Changing Dynamics of Foreign Direct Investment in India.

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RBI releases Framework for Facilitating Small Value Digital Payments in Offline Mode

An offline digital payment means a transaction which does not require internet or telecom connectivity. Under this new framework, such payments can be carried out face-to-face (proximity mode) using any channel or instrument like cards, wallets, mobile devices, etc. Such transactions would not require an Additional Factor of Authentication (AFA). Since the transactions are offline, alerts (by way of SMS and / or e-mail) will be received by the customer after a time lag. Transactions are subject to a limit of ₹200 per transaction and an overall limit of ₹2000 for all transactions until balance in the account is replenished. Balance replenishment can only occur in an on-line mode.

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RBI appoints Shri Ajay Kumar Choudhary as new Executive Director

The Reserve Bank of India (RBI) has appointed Shri Shri Ajay Kumar Choudhary as Executive Director (ED) with effect from January 03, 2022. Prior to being promoted as ED, Shri Ajay Kumar Choudhary was Chief General Manager-in-Charge, Department of Supervision. Shri Choudhary has, over a span of three decades, served in supervision, regulation, currency management,…

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RBI appoints Dr. Deepak Kumar as new Executive Director

The Reserve Bank of India (RBI) has appointed Dr. Deepak Kumar as Executive Director (ED) with effect from January 03, 2022. Prior to being promoted as ED, Dr. Deepak Kumar was heading the Department of Information Technology of the Reserve Bank of India. Dr. Kumar has, over a span of three decades, worked in RBI’s…

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RBI’s Financial Stability Report for December 2021 – Bank NPAs may go beyond 8% by September 2022,

Reserve Bank released the 24th issue of the Financial Stability Report (FSR), which reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability and the resilience of the financial system.

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Report on Trend and Progress of Banking in India 2020-21

Reserve Bank of India released the Report on Trend and Progress of Banking in India 2020-21, a statutory publication in compliance with Section 36 (2) of the Banking Regulation Act, 1949. This Report presents the performance of the banking sector, including co-operative banks, and non-banking financial institutions during 2020-21 and 2021-22 so far.

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Prompt Corrective Action (PCA) Framework for Scheduled Commercial Banks & NBFCs

RBI has reviewed and revised the existing framework for SCB’s and also issued fresh PCA Framework for NBFC’s. The new PCA norms for SCB’s shall be effective January 1st, 2022 & for NBFC’s the PCA norms will be effective wef October 1, 2022.

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Statement on Developmental and Regulatory Policies

Statement on Developmental and Regulatory Policies Statement sets out various developmental and regulatory policy measures relating to (i) regulation and supervision; (ii) financial markets; and (ii) payment and settlement systems.

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