Reserve Bank of India (RBI)

  • RBI Approves Appointment of Prabdev Singh as New CEO of JP Morgan Chase

    India's Central Bank has approved JP Morgan Chase & Co. to appoint Prabdev Singh as the lender's Chief Executive Officer in the Country. The Reserve Bank of India approved a three-year term for Prabdev Singh last week. Buy Prime Test...

    Published On January 27th, 2023
  • UN slashes India’s Economic Growth Forecast by 20 bps to 5.8% for 2023

    The United Nations (UN) has cut its GDP growth forecast for India for calendar year 2023 to 5.8 percent, citing the effect of tighter monetary policy and weak global demand. Growth in India is expected to remain strong at 5.8...

    Published On January 27th, 2023
  • RBI new rules for ‘Loan Loss Provision’ by Banks

    The Reserve Bank of India (RBI) has proposed a new set of rules governing loan loss provisioning by banks as it looks to enhance the resilience of the banking system. The central bank proposes to amend the regulations governing loan...

    Published On January 21st, 2023
  • States’ Gross Fiscal Deficit Set to Fall in 2022-23, Says RBI

    The Reserve Bank of India (RBI) said that the finances of Indian states are projected to improve in 2022-23 with the consolidated gross fiscal deficit to gross domestic product ratio seen falling to 3.4 percent from 4.1 percent for the...

    Published On January 17th, 2023
  • Inflation cools to one-year low of 5.7% in December

    Retail inflation declined to a one-year low of 5.72 per cent in December 2022, mainly due to softening prices of food items. Also, it was well within the Reserve Bank of India’s (RBI) comfort range of 2 per cent-6 per...

    Published On January 13th, 2023
  • BharatPe Gets in-principle nod from RBI to Operate as Online Payment Aggregator

    Fintech platform BharatPe said it has received in-principle authorisation from the Reserve Bank of India (RBI) to operate as an online payment aggregator (PA). The company said that an in-principle nod was awarded to Resilient Payments Private Ltd, a 100...

    Published On January 11th, 2023
  • RBI Lists 6 Rating Agencies for Banks’ Capital Adequacy Purposes

    The Reserve Bank of India (RBI) issued the list of six credit rating agencies that banks can use for the purpose of risk weighting banks' claims for capital adequacy purposes. The six credit rating agencies are Acuite Ratings & Research...

    Published On January 11th, 2023
  • Some Lenders still Continuing with Libor Contracts, says RBI

    With the end near for the London Interbank Offered Rate (Libor), the Reserve Bank of India (RBI) told banks and other financial institutions to stop using the benchmark as soon as possible and mandatorily by December 31 and move to any...

    Published On January 10th, 2023
  • RBI to Auction Green Bonds in 2 Tranches of ₹8,000 Crore each in Jan, Feb

    The Reserve Bank of India (RBI) will auction ₹16,000 crore of sovereign green bonds (SGrBs) in two tranches. The RBI will auction 5-year and 10-year green bonds worth ₹4,000 crore each on 25 January and on 9 February, and this would be...

    Published On January 9th, 2023
  • Forex Reserves at $562.9 bn; Fall by $70 bn in 2022

    India’s foreign exchange reserves fell by $70.1 billion in 2022, data released by the Reserve Bank of India (RBI) shows. The forex reserves stood at $562.9 billion in the week ended December 30. The decline in the forex reserves is...

    Published On January 9th, 2023