The Reserve Bank of India (RBI) has made several key announcements in recent months, covering various aspects of banking, digital payments, liquidity management, and financial regulations. Here’s a detailed look at the latest developments:
Digital Payments and Financial Inclusion
- RBI Digital Payments Index – September 2024: The RBI has released its Digital Payments Index (DPI) for September 2024, measuring the adoption and growth of digital transactions in India.
- Payment System Report – December 2024: The central bank has published its Payment System Report, highlighting trends and innovations in digital payments.
- Encouraging Use of Indian Rupee for Cross-Border Transactions: The RBI has taken steps to promote the use of the Indian Rupee and local currencies for international trade, easing FEMA regulations.
Liquidity Management and Monetary Measures
- USD/INR Buy/Sell Swap Auction: To manage liquidity in the financial system, the RBI will inject liquidity through a USD/INR swap auction.
- Daily Variable Rate Repo (VRR) Auctions: The RBI has announced the conduct of daily VRR auctions to ensure efficient liquidity management.
- Buyback of Government Securities: The central bank has initiated a buyback program for government bonds to stabilize the bond market.
Banking Sector Developments
- Meeting with Bank CEOs: RBI Governor Shaktikanta Das met with MDs & CEOs of public and private sector banks to discuss financial stability, risk management, and credit flow.
- New Guidelines for ARCs: The RBI has introduced guidelines on the settlement of dues for borrowers by Asset Reconstruction Companies (ARCs) to ensure fair debt resolution.
- Standing External Advisory Committee: A new advisory committee has been set up to evaluate applications for Universal Banks and Small Finance Banks.
Regulations and Supervisory Actions
- Appointment of Administrator for Aviom India Housing Finance: The RBI has superseded the board of directors of Aviom India Housing Finance Pvt. Ltd. and appointed an administrator due to regulatory concerns.
- List of NBFCs in the Upper Layer (NBFC-UL): The central bank has released the updated list of NBFCs classified under the Upper Layer (NBFC-UL) as part of its Scale-Based Regulation framework.
- Master Direction on Non-Resident Investment in Debt Instruments: The RBI has issued a new Master Direction on investments by foreign investors in Indian debt markets.
Key Reports and Publications
- Annual Report on the Ombudsman Scheme (2023-24): The RBI has released the latest Ombudsman report, providing insights into complaints and resolutions in the banking sector.
- RBI Bulletin – January 2025: The latest RBI Bulletin covers economic trends, inflation analysis, and banking sector updates.
- State-Level Inflation Forecasts: A new RBI working paper examines inflation trends across different states in India.
- Occasional Papers – Vol. 45, No.1 (2024): The RBI has published its latest Occasional Papers, featuring research on economic and financial trends.
Financial Market Updates
- Market Borrowings by State Governments (Jan–March 2025): The RBI has released an indicative calendar for market borrowings by state governments and union territories.
- India’s International Investment Position (IIP) – September 2024: The RBI has published data on India’s external financial assets and liabilities for September 2024.
Technological Advancements in Banking
- Beneficiary Bank Account Name Look-Up for RTGS & NEFT: A new name look-up facility has been introduced for Real-Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) to reduce transaction errors.
- RBI Hackathon (HaRBInger 2024) Results Announced: The third edition of RBI’s global hackathon, focused on innovative fintech solutions, has concluded with the announcement of winners.
Regulatory Relaxations
- Removal of Supervisory Restrictions: The RBI has lifted restrictions on:
- Asirvad Micro Finance Ltd., Chennai
- DMI Finance Pvt. Ltd., New Delhi
- Arohan Financial Services Ltd., Kolkata
- Withdrawal of ₹2000 Denomination Banknotes – Status Update: The RBI has provided an update on the withdrawal of ₹2000 notes, ensuring a smooth transition.
Speeches and Public Engagements
- Deputy Governor’s Address on Liability Management: Shri M. Rajeshwar Rao, Deputy Governor of RBI, delivered a keynote address on challenges in liability management at the Mint Annual BFSI Summit & Awards 2025 in Mumbai on January 17, 2025.
- RBI@90 Public Sector Badminton Tournament: The RBI organized an All India Public Sector Badminton Tournament in Bengaluru as part of its 90th-anniversary celebrations.
The Reserve Bank of India continues to implement policy measures, technological upgrades, and regulatory reforms to ensure financial stability and promote a robust banking system in India.
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