Reserve Bank of India (RBI)
RBI paper unpacks India’s non-performing loan troubles
Authors find bank risk-taking is procyclical and the level of non-performing loans responds to the interest rate environment and the overall growth of the economy
RBI moves to soak up liquidity generated by cash crisis
Deposits of old banknotes have led to surge in liquidity, which is now showing up as pressure on the bond market
RBI forms task force as cash crisis continues
Authorities find ATMs must be recalibrated to accept new notes, hampering efforts to respond to cash shortages
India scraps two banknotes overnight
The joint initiative by the central bank and government will replace two highest denominations with a new Rs500 and Rs2000, entering circulation tomorrow after an unscheduled bank holiday
People: BIS replaces Debelle as chair of markets committee; UK advertises for Shafik replacement
MAS’s Jacqueline Loh will chair the markets committee at the Bank for International Settlements; Bank of England advertises for deputy governor role
RBI to force banks to dispense low-denomination notes
Reserve Bank of India says banks must now set a proportion of ATMs to dispense only lower-value notes, after earlier efforts prove inadequate
RBI’s Gandhi hails ‘silent revolution’ in payments
Incremental growth has revolutionised payments, deputy says, with more initiatives such as unified mobile payments interface set to deliver further change
RBI’s new MPC cuts rate at first meeting
Debate was “frank, often intense, but always friendly” says governor Urjit Patel, after monetary policy committee votes unanimously for a cut
RBI’s Mundra: pinning down credit-GDP link is tricky
Deputy governor says a host of factors combine to make the link between credit and growth unclear, but the link may reinstate itself as the economy stabilises
Rajan debunks central banking myths in final address
Outgoing governor completes valedictory tour with a cross-examination of the contradictory demands on the RBI, restating the value of central bank independence
RBI annual report shows both income and expenditure on the rise
Staff costs and transaction fees drove rise in overall costs in 2015–16, although these were balanced by higher income; staff numbers on the decline
Rajan tells regulators: do not be afraid of innovation
Regulators should not ban innovation in order to be safer, outgoing RBI governor says; innovation needs support to encourage its “appealing features”
Economic outcomes will “vindicate” central bank – Malawi governor
Chuka asks the private sector to “trust” the central bank in its policy decisions; a reduced debt-to-GDP ratio and an end to drought should see inflation fall, he says
RBI launches bond market shake-up
Host of measures aim to develop markets, increase participation and improve liquidity in Indian capital markets, following review by former deputy governor Harun Khan
RBI’s Mundra hopes to boost credit to small businesses
Deputy governor outlines “ABCD” of issues affecting small businesses’ ability to access credit, including better access to information and new forms of collateral
Urjit Patel to take over from Rajan at RBI
Deputy governor led work on India’s new inflation-targeting framework; appointment seen as signal of government’s commitment to current policy
RBI’s Mundra says banks must evolve or face extinction
Deputy describes “dismal future” for banks, saying they must embrace a socially responsible approach if they are to avoid the threat posed by fintech firms and other non-banks
RBI should improve link between analysis and macro-prudential policy – FSB review
The Reserve Bank of India should consider regular financial stability meetings to set policy, and it needs to support its decisions with deeper analysis, a peer review finds
Indian train robbery sees nearly $1m in soiled banknotes snatched
Soiled banknotes destined for the RBI stolen from train on the way back from Salem; police investigating incident
Rajan hopes new MPC will make next RBI policy statement
Reserve Bank of India keeps rates on hold in Rajan’s last decision before stepping down; he hopes the monetary policy committee will be up and running by next decision in October
Manpower a key tool in fending off cyber threats – RBI’s Gandhi
Skillset for security is evolving, says RBI deputy governor Gandhi, as he draws attention to new cyber security framework now in place for banks
Governments should look beyond criticism and protect central bank independence – Rajan
Governor of the RBI says institutions are used to criticism in line of work, but should still have ability to adopt whichever policies are needed
Indian reserves climb to $360.2bn at end-March
Reserve Bank of India’s latest report on reserve management shows 2.8% increase over six months; two-thirds of foreign currency assets invested in securities
RBI deputy praises Indian payment and settlement systems
R Gandhi notes the ever-increasing volume handled by state-of-the-art systems, but stresses the need to ensure they are safe and “result in overall efficiencies”