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RBI will have to raise rates, not anti-national to do so: Former RBI governor Raghuram Rajan

Taking a dig at his critics in a social media post, former RBI governor Raghuram Rajan said that bureaucrats and politicians need to realise that raising policy rates does not amount to anti-national activity that benefits foreign investors. As inflation is on the rise, Rajan is of the view that India’s central bank would have …

Curbing inflation becomes RBI’s immediate concern: Minutes of the April RBI MPC meeting released

Concerns about surging inflation amid the hostilities between Russia and Ukraine formed the predominant thread at the monetary policy committee’s (MPC) April meeting, showed the minutes released on Friday. Members of the RBI’s rate-setting panel did acknowledge the geopolitical risks to growth, but chose to prioritise inflation as the more proximate concern. The MPC turned …

RBI’s new guidelines for credit, debit cards: NBFCs can now issue cards, and other key things to know

The Reserve Bank of India has published master directions to the banks and NBFCs (Non Banking Financial Corporations) for issuance of credit and debit cards this year. These guidelines will be effective from July 1, 2022, the RBI said, adding that the guidelines apply to all the banks excluding payment banks, state co-operative banks, and …

RBI allows rural co-operative banks to raise funds from preference shares, debt instruments

The Reserve Bank of India on Tuesday allowed Rural Cooperative Banks (RCBs) to raise funds from people in their area of operation or existing shareholders through a variety of instruments. RCBs, which include state co-operative banks and district central co-operative banks, can raise funds from preference shares and debt instruments, RBI said in a notification. …

Higher forex reserves lower cost of foreign borrowings, hedging cost: RBI article

Higher foreign exchange reserves have lowered the cost of foreign borrowings and also the hedging cost for companies, according to a paper published in RBI’s monthly bulletin. Since 2019, the RBI has been accumulating forex reserves that peaked at USD 642.453 billion in the week ended September 3, 2021, which was more than double the …

New T+1 settlement cycle: FPIs’ forex concerns may be addressed by June-July

The exchanges, clearing corporations and the Reserve Bank of India (RBI) are working together to resolve issues related to foreign exchanges and confirmation of trade raised by foreign portfolio investors (FPIs) within the new T+1 settlement cycle. The authorities have met several FPIs in the last couple of weeks and the matter is expected to …