Debt-oriented mutual funds witnessed an outflow of Rs 6,525 crore in February, a sharp reversal from the strong inflow of Rs 1.28 lakh crore in the preceding month, chiefly due to redemptions in short-duration funds. Notably, 10 of 16 debt mutual fund categories reported net outflow during the month, data with Association of Mutual Funds in India (Amfi) showed.
Events proved that on every count the RBI had accurately predicted both the damage and the lack of benefit. What the RBI was hiding was the fact that Modi had ignored its concerns -- all of which turned out to be true -- and gone ahead anyway, asserts Aakar Patel.
Mint Road, on December 21, 2023, flagged the role of self-regulatory organisations (SROs) in strengthening the compliance culture in regulated entities (REs) and providing a consultative platform for policymaking. It also decided to issue an omnibus framework for SROs.
While the economy seems to be on a firm growth path, the fight against inflation is not over yet. Shaktikanta Das seems to be in no hurry. After playing well through a five-year Test match, he doesn't want to get out hit wicket, observes Tamal Bandyopadhyay.
The Reserve Bank on Monday said 98.08 per cent of the Rs 2,000 banknotes have been returned to the banking system, and only Rs 6,839 crore worth such notes are still with the public. On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2,000 denomination banknotes from circulation.
Former Prime Minister Manmohan Singh was a brilliant economist with a visionary outlook on India's potential, combined with a fine sense of political feasibility, former RBI Governor Raghuram Rajan said on Friday. Singh, the architect of India's economic reforms, passed away here late on Thursday at the age of 92.
S&P Global Ratings on Tuesday cut India's GDP growth projections to 6.5 per cent for the next fiscal as it expects that economies in the APAC region will feel the strain of rising US tariffs and pushback on globalisation. In its Economic Outlook for Asia-Pacific (APAC), S&P said despite these external strains, it expects domestic demand momentum to remain solid in most emerging-market economies.
Kotak Mahindra Bank's loan and deposit growth are likely to be affected after the Reserve Bank of India (RBI) asked the private-sector lender not to take on board new customers through the bank's online and mobile banking channels and not to issue any new credit cards, according to analysts. The bank's share price fell 10.85 per cent on Thursday to close the day at Rs 1,643 on the BSE. The RBI's action came after market hours on Wednesday.
India's forex reserves dropped by $4.11 billion to $640.28 billion during the week ended December 27, the Reserve Bank said on Friday. In the previous reporting week, the overall kitty had dropped by $8.48 billion to $644.39 billion.
A strong demand was made in the Lok Sabha to eliminate online betting and gambling applications. YSRCP member Maddila Gurumoorthy urged the government to set up a dedicated task force to take action against betting and gambling apps. He also asked the government to draft regulations for such applications and launch awareness campaigns about the dangers of online betting. Other issues raised included deposit insurance coverage for bank depositors, representation of Scheduled Castes in the Kerala government, challenges faced by nurses, and the need for paramilitary forces in Jharkhand during upcoming Hindu festivals.
The gap between credit and deposit growth in the banking system is expected to decline sharply to 80 basis points (bps) in the next financial year from an average of 386 bps over the FY22-Q3FY25 period, according to rating agency India Ratings. This would be against the backdrop of sharp moderation in the incremental loan deposit ratio (LDR) of the Indian banking system to 85 per cent in February 2025 from 117-118 per cent in the same month of 2024.
'I believe that the overall demand for commercial vehicles will improve, even though there is a slowdown in the GDP.'
Fraudsters read your mind, weave convincing stories, earn your trust and then vanish with people's savings. Ramalingam Kalirajan reveals five simple tricks that cons use to steal money from you.
Bad loans in the peer-to-peer (P2P) lending industry more than doubled in financial year 2024 (FY24) to Rs 1,163 crore from Rs 472.1 crore in FY23, said a financial services company on Monday. Non-performing assets (NPAs), as such loans are officially called, were a modest Rs 14.7 crore at the end of FY19 when P2P lending was in its nascent stage, according to Capitalmind Financial Services that accessed data from the Reserve Bank of India (RBI) through a right to information application.
The RBI was not party to the decision to demonetize 500 and 1,000-rupee notes, which was taken at the highest level of India's political leadership.
The Reserve Bank of India on Thursday decided to keep policy rate unchanged for the sixth time in a row as it maintains a tight vigil on inflation. The rate increase cycle was paused in April last year after six consecutive rate hikes aggregating to 250 basis points since May 2022.
Debt mutual fund (MF) schemes are set to register the best calendar year (CY) performance in the last four years despite no changes in the interest rate. An analysis of one-year performance of debt funds show that many of the schemes are set to deliver double-digit returns in CY 2024.
Loan against gold as a product is catching on fast. Let's keep the momentum going, but aim for sustainable growth. A few bad apples should not ruin the brunch, argues Tamal Bandyopadhyay.
The Reserve Bank on Thursday tightened norms for consumer credit as it asked banks and NBFCs to assign a higher risk weight for unsecured personal loans, a move aimed at making the lenders more cautious on such advances. The risk weight on unsecured consumer loans has been raised by 25 percentage points. The new regulations, however, will not be applicable on housing loans, education loans, vehicle loans and loans secured by gold and gold jewellery, the Reserve Bank said in a circular.
Will allowing business correspondents to hawk insurance products help in reviving 5-lakh strong field agents as a viable channel?
The banking regulator was uncomfortable with the runaway pace at which consumer credit was growing.
Reserve Bank has directed banks to provide their eligible customers with an option to choose from multiple card networks at the time of issuing credit or debit cards, a move which will benefit card users. The central bank also asked issuers of credit cards not to enter into any arrangement or agreement with card networks that restrain customers from availing the services of other networks.
The average value of retail digital payments dropped 48 per cent from Rs 8,769 in March 2021 to Rs 4,560 in March 2024 due to a growing preference to use digital modes of transactions for small value payments, according to the Reserve Bank of India's (RBI) report on the trend and progress of banking in India.
From the 30-share pack, Adani Port, Bharti Airtel, Asian Paints, IndusInd Bank, Bajaj Finserv, Reliance Industries, Infosys, UltraTech Cement, HDFC Bank, HCL Technologies and ICICI Bank were among the laggards. Tata Motors, Axis Bank, Maruti, Larsen & Toubro, ITC and Tata Steel were among the gainers.
India Ratings on Thursday said that any broad-based or strong recovery in corporate capital expenditure was unlikely in the upcoming financial year 2026 (FY26) due to uncertainty of domestic and external demand. The uncertainty is adversely affecting the overall corporate sector capex. Interest rates on credit are not the primary deterrent to decisions about capital expenditure, said Soumyajit Niyogi, director, core analytical group, Ind-Ra, in a webinar on the credit market outlook.
The Reserve Bank of India (RBI) conducted two overnight variable rate reverse repo (VRRR) auctions on Tuesday, marking the first instance of such action in a single day. The move aimed to reduce liquidity from the banking system, which has been largely in deficit mode for the past four months. Market participants noted that the central bank held the second VRRR auction due to its awareness of funds being released to banks during the day.
India's forex reserves dropped $1.31 billion to $656.58 billion for the week ended November 22, the Reserve Bank of India (RBI) said. The kitty had dropped a record $17.76 billion to $657.89 billion in the previous reporting week ending November 15.
'It won't be a V-shaped recovery. It'll be consolidation.' 'Investors might exit during that grind. It'll be painful.'
The liquidity deficit in the banking system crossed Rs 2 trillion again on Monday, despite the second instalment of cash reserve ratio (CRR) reduction coming into effect from December 28.
Global trends, macroeconomic announcements and US tariff developments are expected to drive stock markets in a holiday-shortened week, analysts said. Market participants will also closely track foreign investor activity, geopolitical tensions, and their impact on the US dollar and crude oil prices, they added.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
When investing in fixed-income products, balancing considerations like safety, liquidity, and income is essential.
Several mutual funds (MFs) have recently approached the Reserve Bank of India (RBI) as they renew efforts to increase their overseas investment limit. In June 2022, the capital markets regulator Securities and Exchange Board of India (Sebi) permitted MFs to invest in foreign stocks within the aggregate mandated limit of $7 billion after a correction in stocks. One of the proposals shared with the RBI is to link MFs' foreign investment limit to the country's foreign exchange reserves.
Alternative investment funds (AIFs) have not seen any significant redemptions from financial institutions even though the 30-day timeline provided by the Reserve Bank of India (RBI) to liquidate their holdings or make full provisions ends recently. Sources said the industry is awaiting certain relaxations or extensions based on the recommendations submitted to the banking regulator. On December 19, the RBI restricted financial institutions and banks from investing in AIFs where there is any downstream link or exposure to a debtor firm.
Among the Sensex firms, State Bank of India rose the most by 3.78 per cent after the bank announced the acquisition of SBI CAPS subsidiary for Rs 708.07 crore. Nestle India gained 1.68 per cent after it reported around 9 per cent growth in sales. JSW Steel, Bajaj Finance, Axis Bank and Asian Paints were among the gainers.
The average cost of data breaches in India reached $2.18 million in 2023, marking a 28 per cent increase since 2020, according to the Reserve Bank of India's (RBI) Currency and Finance report for 2023-24. The report said that India's average data breach cost was still below the global average. The most common attacks in India are phishing which was at 22 per cent and stolen or compromised credentials was 16 per cent. The automotive industry is highly vulnerable to cyber attacks, whereas the banking and financial services sector, benefiting from stringent regulations, enjoys comparatively stronger protection.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
The Reserve Bank of India (RBI) on Monday said 98.04 per cent of the Rs 2000 banknotes have been returned to the banking system, and only Rs 6,970 crore worth such notes are still with the public. On May 19, 2023, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation.
Earlier, Preity posted about the platform's growing cynicism, especially when people expressed appreciation for public figures.
While the fiscal year has just begun, any windfall surplus will be welcomed by the government as it bids to meet the fiscal deficit target of 5.9 per cent of GDP, amidst lack of clarity on exactly to what extent will recession in the West impact India's trade and tax collections.
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