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INSANE: 16 | Vintage Vibes

India may see up to $85 billion in forex inflows after RBI's FCNR move: Report

India anticipates substantial Foreign Currency Non-Resident deposits, possibly reaching eighty to eighty-five billion dollars. Public sector banks are leading this significant mobilization effort, exceeding previous records. FCNR(B) deposits have already reached seventeen point forty-one billion dollars by mid-July. Higher interest rates are expected to encourage renewals of maturing FCNR deposits.…

The Economic Times

RBI reiterates Indian economy remains resilient, but Iran war, deficient monsoon could pose risks to outlook; will there be rate change in August?

The RBI is widely expected to keep interest rates unchanged at its 5 August policy meeting, making it one of the few central banks in the region that has not changed policy in response to the Middle East conflict. Governor Sanjay Malhotra has indicated that the policy rate is likely…

The Economic Times

PNB profit to cross Rs 20,000 cr mark in FY27: MD Ashok Chandra

Punjab National Bank expects its FY27 net profit to exceed ₹20,000 crore after delivering more than ₹5,000 crore in quarterly profit for four consecutive quarters, Managing Director and CEO Ashok Chandra said. The lender also plans to enter acquisition financing from the third quarter following the RBI's revised guidelines.

The Economic Times

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RBI, govt measures could turn India's balance of payments surplus, ease pressure on rupee: HDFC

Recent policy measures may shift India's balance of payments to a surplus. These actions aim to attract significant capital inflows and strengthen the external position. The Reserve Bank of India's initiatives are expected to boost foreign currency deposits. Government securities are becoming more accessible for foreign investors. These developments could…

The Economic Times

India's forex reserves rise $1.08 billion to $676.237 billion in week ended July 17

In a notable development, India's forex reserves have increased by over one billion dollars, driven primarily by a growth in foreign currency assets. On the downside, the value of gold reserves has seen a significant decline. Additionally, Special Drawing Rights have experienced a minor upward adjustment, while the reserve position…

The Economic Times

UAE’s top bank to offer $1.5 billion for NRIs investing in RBI's forex deposit program

First Abu Dhabi Bank is offering up to $1.5 billion in financing to non-resident Indians investing in India's foreign-currency deposit scheme, using leverage backed by standby letters of credit. The move supports the RBI's drive to boost forex reserves, with analysts estimating the programme could attract as much as $50…

The Economic Times

RBI intervention blunts oil surge, shores up rupee

The Reserve Bank of India intervened by selling dollars to prevent the rupee from reaching a record low. Surging oil prices and declining stock markets are currently pressuring the Indian currency. Geopolitical tensions in the Middle East are contributing to higher crude oil prices globally. India, heavily reliant on oil…

The Economic Times

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Foreign banks show strongest rate transmission in current RBI easing cycle: Bulletin

Foreign banks showed strongest policy easing transmission during the rate-cut cycle. They lowered lending rates more sharply than other bank types. Deposit rates also saw steeper reductions from foreign banks. The Reserve Bank of India reduced its repo rate by 1.25 percentage points. This easing cycle occurred between February 2025…

The Economic Times

RBI sold $6.1 bn in May as oil weighed on the rupee and foreign inflows showed signs of revival: Bulletin

The Reserve Bank of India sold six point one billion dollars in May. This intervention occurred amid global market volatility and geopolitical tensions. India's external sector remains steady with improving foreign investment inflows. The domestic economy navigated uncertainties well, supported by strong demand. Foreign exchange reserves are comfortable, covering over…

The Economic Times

RBI sold $6 billion in May to defend oil-hit Indian rupee, data shows

The Reserve Bank of India sold $6.1 billion in foreign exchange during May. This intervention occurred as oil prices surged, pushing the rupee to a record low. The central bank also implemented policy measures to encourage dollar inflows into India.

The Economic Times

Rupee languishes at two-month lows as supply worries raise oil prices

The Indian rupee hit a two-month low on Wednesday amid rising oil prices spurred by worries over Middle Eastern supply disruptions. In an effort to contain the rupee's decline, state-run banks stepped in to sell off dollars. Increased energy prices are forecasted to exacerbate inflationary pressures and expand India's deficit.…

The Economic Times

RBI likely used dollar deposit surge to cut record FX forward book, economists say

Reserve Bank of India likely used deposit inflows to reduce its forward book. This action helped the central bank manage its near-term dollar obligations effectively. Economists suggest this strategy offset short-dollar positions in the forward market. Inflows attracted over twenty billion dollars, with most from foreign currency deposits. June data…

The Economic Times

India bonds slip on oil spike, bargain hunters curb losses

Indian government bonds weakened in early trade as oil prices extended gains. Rising crude prices could widen India's trade deficit and stoke inflationary pressure. Bargain buying and state-run bank bids limited the losses in the domestic bond market. Hopes of a peace deal and RBI foreign exchange measures aided sentiment.…

The Economic Times

$17.4 billion flows into FCNR(B) deposits: Which bank offers the best 3-year FCNR(B) FD rate—SBI, PNB, HDFC Bank, ICICI Bank or Canara Bank?

Foreign currency deposits have seen significant inflows after a new RBI scheme. Canara Bank offers the highest 3-year FCNR(B) USD fixed deposit rate. HDFC Bank, Axis Bank, and ICICI Bank offer a 6% interest rate. These deposits are available in various foreign currencies and offer tax exemptions.

The Economic Times

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The Economic Times

Rupee falls 11 paise to 96.36 against US dollar in early trade

The rupee fell eleven paise to 96.36 against the US dollar on Wednesday. Crude oil prices climbed due to geopolitical tensions and shipping concerns. Investors sought safe-haven assets, increasing demand for the US dollar. Foreign currency inflows are supporting the rupee, while the central bank manages volatility. Domestic equity markets…

The Economic Times

Banks, financial institutions reported fraud of Rs 1.42 lakh crore in last 5 years: MoS Finance

Banks and financial institutions reported Rs 1.42 lakh crore in fraud over five years. Recovery of Rs 6,389 crore was made during this five-year period. Public sector banks filed recovery suits against 15,577 wilful defaulters by March 2026. These banks also recovered Rs 52,360 crore from wilful defaulters. The Reserve…

The Economic Times

Rupee value is market-driven, has no target band against US dollar: FM Sitharaman

Finance Minister Nirmala Sitharaman stated the rupee's value is market-determined. The Reserve Bank of India monitors foreign exchange markets and intervenes when needed. Several measures are in place to boost foreign exchange inflows into India. These initiatives aim to ease pressure on the Indian rupee. The government closely tracks economic…

The Economic Times

RBI issues draft for future-ready rules related to foreign investments

The Reserve Bank of India has proposed new foreign investment rules. These simplified rules aim to enhance clarity and reduce complexity. Indian companies may soon list shares on foreign stock exchanges. Foreign investors can also make investments on repatriation or non-repatriation bases. The central bank is seeking public comments on…

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The Economic Times

Foreign banks account for lion's share of FCNR(B) inflows under RBI's concessional swap facility

Foreign banks have facilitated most FCNR(B) deposits under the RBI's swap facility. This concessional swap facility has attracted over twenty billion dollars in total inflows. FCNR(B) deposits accounted for seventeen billion dollars of these significant inflows. Some large state-owned and private banks also hold a substantial share. The facility aims…

The Economic Times

Punjab National Bank to foray in acquisition finance in third quarter: MD Chandra

Punjab National Bank will begin acquisition finance in the third quarter of this fiscal year. The bank aims to mobilize USD 2.5 billion in FCNR (B) deposits by September. This move diversifies the bank's asset portfolio and attracts foreign currency. PNB reported a significant profit jump for the quarter ended…

The Economic Times

Indian rupee gains as oil comes off; inflows, RBI intervention in focus

The Indian rupee experienced a slight upturn on Tuesday, buoyed by the prospect of improved diplomatic relations between the U.S. and Iran, which reduced oil market tensions. With strong capital inflows enhancing the foreign exchange reserves, the Reserve Bank of India reported mobilization of over twenty billion dollars. Investors are…

The Economic Times

Rs 1 lakh investment turns into Rs 3.57 lakh in gold bonds: SGB 2019-20 Series premature redemption date today, check if you need to pay capital gains tax

Sovereign gold bonds: The Reserve Bank of India has set the premature redemption price for SGB 2019-20 Series-VIII. This offers investors a significant absolute return of nearly 257 percent. Tax rules apply to capital gains on premature redemption of these bonds.

The Economic Times

Energy shock vs AI boom: RBI should act as and when external shocks push domestic data in a direction, not until then

Global growth faces pressure from an energy shock and a tech boom. The energy shock stems from conflict, impacting oil prices and shipping routes. Meanwhile, an AI boom supports growth, particularly in the United States. India's monetary policy must navigate these conflicting external conditions. RBI's MPC will likely adopt a…

The Economic Times

Don't put a toll on UPI: Why merchant discount rate isn't the answer

A proposal to introduce a merchant discount rate (MDR) on UPI transactions above ₹2,000 for businesses with annual turnover of ₹1-1.5 crore aims to address the cost of maintaining the payments ecosystem. While banks and payment providers need a sustainable revenue model, the article argues that reintroducing MDR would undermine…

The Economic Times

RBI Deputy Governor Swaminathan J asks regulated entities to review internal grievance redressal processes

RBI Deputy Governor Swaminathan J stressed reviewing internal grievance redressal processes. He asked regulated entities to design complaint management systems carefully. These systems should prevent complaints from bypassing the Internal Ombudsman. Technology has transformed financial services and customer expectations significantly. Institutions must strive for faster and more transparent grievance resolution.

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