Heaviest penalty of Rs 1.76 crore was on Vakrangee Ltd, which was fined for non-compliance with some provisions of White Label ATM directions.
Banks traded Rs 275 crore of bonds on the first day using the new form of currency; nine banks participated.
RBI will commence pilot programme of digital rupee for wholesale segment on 1 November; nine banks identified for participation in pilot.
Forex reserves skid to over two-year low as RBI continues to defend rupee; falls by $3.85 bn to $524.52 bn in week ending 21 October.
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This is first time MPC will be meeting for such purpose; will discuss reply to government explaining why it failed to hold inflation within mandated range of up to 6% for three straight quarters.
Govt is looking for a valuation of Rs 640 bn ($7.7 bn) for IDBI Bank, which will be a premium of almost 33% based on the lender’s market value of about $5.8 bn on Thursday’s close.
In order to make IDBI Bank purchase attractive, government is in talks with Sebi to relax public shareholding norm for the potential buyer.
Rupee falls below 83 per US dollar mark for first time and risks prevail for further weakening of the Indian currency; RBI is reluctant to intervene aggressively in the market.
RBI expects recovery in economy to be driven by contact-intensive sectors; headline inflation is likely to ease from its high September levels.
Subramanian Swamy has alleged that involvement of RBI officials in scams involving various entities such as Kingfisher, Bank of Maharashtra and Yes Bank had not been probed.
India’s retail inflation surges to 7.41% in September, making it certain that RBI will go for further interest-rate hike in next policy review in December.
With rupee weakening against dollar, RBI tweaks guidelines for banks to manage foreign currency exposure.
Financial bids for IDBI Bank privatisation to be invited by March; sale process likely to conclude by September 2023.
RBI will soon kickstart pilot launch of e-rupee for specific use cases as it tests digital currency in India.
RBI approves Prashant Kumar’s appointment as managing director and CEO of Yes Bank for three years with effect from October 6, 2022.
