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FORGOTTEN HISTORY: 3 | History Defined

A gold warning is flashing red. Is a new global crisis taking shape?

The Dutch central bank moved gold reserves to London for easier deployment during crises. This relocation was prompted by increasing geopolitical unrest and a reassessment of reserve accessibility. Central banks now consider foreign asset accessibility a key risk management factor. The freezing of Russian reserves significantly altered perceptions of asset…

The Economic Times

RBI faces about $11 billion bill on foreign deposits plan

India's central bank secured record diaspora funds, exceeding projections significantly. This fundraising effort may incur substantial costs for the Reserve Bank of India. The RBI agreed to shield banks from currency risks on these foreign deposits. These operations could cost up to 1.2 trillion rupees over five years. The central…

The Economic Times

FCNRB deposits: Why bank investors should watch RoE, not just NIM

FCNR(B) deposits could boost banks’ return on equity despite a mild impact on net interest margins, according to Anand Rathi. Exemptions from reserve requirements, capital-efficient lending and longer tenors could improve returns. The brokerage analysed four scenarios, including deposit costs, leverage and rising rates, to assess the scheme’s benefits.

The Economic Times

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Indian banks pitch FX sell/buy swaps to drain surplus liquidity, sources say

Indian lenders suggested forex sell/buy swaps to reduce excess rupee liquidity. This proposal came after a meeting with the Reserve Bank of India. Banking system liquidity reached a record high following foreign currency deposits. The central bank has several tools to manage liquidity effectively. Lenders urged the RBI to avoid…

The Economic Times

India bonds pare gains as oil spike tames FCNR boost

Early Thursday trading saw Indian government bonds lose their initial gains as stronger dollar inflows were overshadowed by soaring oil prices. Traders covering short positions led to better performance in shorter maturities. Abundant liquidity helped reduce overnight indexed swap rates, but the spike in oil prices heightened concerns about India's…

The Economic Times

How RBI could tackle a liquidity deluge triggered by dollar deposits

The RBI’s special dollar deposit scheme attracted a massive $127.23 billion, pushing India’s banking system liquidity surplus to a record ₹9.70 trillion. The central bank may deploy longer-term VRRR auctions, FX swaps, a market stabilisation scheme, CRR hikes or open-market bond sales to absorb excess liquidity and prevent inflationary pressures…

The Economic Times

Can an NRI be a nominee for PPF, NSC or SCSS? Here’s what happens to the money after the account holder dies

NRIs can now be nominees for India's small-savings schemes like PPF and NSC, a change from 2023. While they can receive proceeds, repatriation abroad is restricted and subject to FEMA and banking rules, typically requiring crediting to an NRO account first. Understand the nuances before naming an NRI nominee.

The Economic Times

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NBFCs must use AI, strengthen underwriting as credit growth accelerates: RBI Deputy Governor Murmu

Reserve Bank of India Deputy Governor S C Murmu urged NBFCs to use AI and machine learning tools. He emphasized stronger risk management and rigorous stress testing for lenders. NBFC credit growth continues to rise, impacting the overall financial landscape. Technology adoption is transforming credit assessment and management practices. Customer…

The Economic Times

India bonds gain as RBI FX inflows lift liquidity, spur short-term debt buying

Indian government bonds saw gains early Thursday, led by shorter-term debt. Larger dollar inflows boosted rupee liquidity and improved sentiment for Indian assets. Banks raised significant foreign currency, adding to domestic liquidity for several years. This influx strengthened India's ability to support the rupee and domestic markets. Elevated oil prices…

The Economic Times

Forex Card, Cash or Indian Debit Card Abroad: What Each Option Really Costs You

The Forex Card: Predictable Rates, Hidden ConditionsA forex card locks in the exchange rate at the time you load it. If the rupee weakens mid-trip, you are insulated. That is the genuine advantage, and it is real. Banks like HDFC, ICICI, SBI, and Thomas Cook issue multi-currency forex cards that…

Times Life

How to Buy Your First Home This Diwali: Property Loans, Vastu, and Budget Tips for Indian Buyers

Why Diwali Is the Most Dangerous Time to Buy a HomeChanakya wrote in the Arthashastra that a buyer who acts in haste gives the seller his profit twice. No season tests that warning more than Diwali. Builders launch their biggest campaigns between Navratri and Bhai Dooj. Hoardings promise zero stamp…

Times Life

Explained: What $127 billion FCNR(B) inflows mean for ICICI Bank, HDFC Bank, other bank stocks

Closing the FCNR(B) scheme has led to a noteworthy increase in dollar inflows, which has positively impacted foreign exchange reserves. Indian banks have benefited from these substantial funds, assisting in the continued growth of loans. Nonetheless, the Reserve Bank of India must now tackle the critical issue of managing surplus…

The Economic Times

Rupee gains to 94.27 vs USD as RBI measures bring in bumper $136 billion

India's rupee has seen a remarkable increase following a significant capital boost from the Reserve Bank of India, which successfully raised over 136 billion dollars through its specialized programs. This substantial financial inflow empowers the central bank to robustly guard the rupee. Consequently, the rupee has emerged as the second-best…

The Economic Times

India's $127 billion NRI deposits arm gives RBI more firepower, setting rupee up for rally

On Thursday, predictions suggest that the Indian rupee will continue its upward trajectory. This optimism stems from substantial foreign currency deposits enhancing the central bank's ability to provide support. India's unique mobilization schemes attracted over $136 billion, resulting in a marked increase in foreign exchange reserves, coupled with positive movements…

The Economic Times

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The Economic Times

Cash no king, but don't stash it: India wants a digital economy, but cash still holds the power of choice

Despite government promotion of digital transactions like UPI and e-Rupee, cash remains prevalent, especially in rural areas and for large-value transactions. While digital payments offer convenience, they have also led to increased cyber fraud and financial exclusion, particularly for women. The article suggests the government's push for digitalization may stem…

The Economic Times

Need stronger governance, internal controls in urban cooperative banks: RBI Deputy Guv

In a recent address, RBI Deputy Governor Swaminathan J urged urban cooperative banks to strengthen their governance frameworks and adopt technological advancements. He pointed out the critical need for better collaboration between the RBI and cooperative authorities. Deputy Governor Shirish Chandra Murmu reinforced the importance of having professional boards and…

The Economic Times

Rising global bond yields, FCNR-B inflows and SEBI's CAS to shape market dynamics: HDFC Securities CEO Dhiraj Relli

India is grappling with rising global bond yields and surging oil prices, which are heightening imported inflation. These economic challenges pose a threat to sustained corporate profits. Meanwhile, SEBI's auction initiative aims to bolster market integrity and enhance price discovery. Although RBI's new deposit guidelines provide some temporary relief amidst…

The Economic Times

Indian banks raise over $136 bn via RBI forex swap, FCNR(B) deposits dominate inflows

India's banking system attracted over $136 billion through a special Reserve Bank of India swap facility. Foreign currency non-resident deposits accounted for the largest portion of these substantial inflows. This strong response prompted the Reserve Bank of India to close deposit mobilization earlier than planned. The inflows have significantly boosted…

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The Economic Times

Indian bonds join global debt selloff, bruised by oil and US Treasury yields

Indian government bonds faced further declines for the fifth consecutive session as U.S. Treasury yields approached three-year peaks. The surge in oil prices reignited inflation concerns, particularly impacting India due to its status as a major importer. This scenario intensified expectations for monetary policy adjustments by the RBI. Critical upcoming…

The Economic Times

RBI backstop keeps Indian rupee stable, blunting importer dollar demand impact

The Indian rupee showed little movement on Wednesday, hovering in a narrow range. Support from the Reserve Bank of India helped mitigate the growing dollar demand from importers. The fluctuations in oil prices and Treasury yields also played a role in the currency's stability. Experts predict the rupee will maintain…

The Economic Times

ICICI Bank raises $17.88 billion through FCNR(B) deposits amid strong demand

ICICI Bank mobilized USD 17.88 billion through FCNR(B) deposits by August 31. This occurred under the Reserve Bank of India's concessional swap facility. The facility aimed to strengthen India's foreign exchange liquidity position. Loans against these deposits amounted to USD 9 billion for the bank. The window for this deposit…

The Economic Times

Banks slash FCNR (B) interest rates: HDFC Bank, ICICI Bank, SBI, PNB, Axis Bank revise rates on 3-5-year deposits

FCNR (B) deposit interest rate cuts have particularly been made in deposits of three to five years, which had higher interest rates after the Reserve Bank of India (RBI) announced a relief on hedging costs.

The Economic Times

Rupee falls 2 paise to 94.97 against US dollar in early trade

The Indian rupee slipped further in early trading on Wednesday amidst signs of escalating tensions between the US and Iran, coupled with soaring oil prices creating turmoil in currency markets. With rising Treasury yields strengthening the dollar, risk aversion is on the rise. The Reserve Bank of India is closely…

The Economic Times

RBI intervention, dollar flows push Indian rupee to two-month peak

The Indian rupee surged to a two-month peak against the U.S. dollar, buoyed by decisive central bank interventions and dollars flowing in from foreign banks. Positive domestic growth indicators bolstered confidence in the rupee. However, rising global bond yields and increased crude oil prices acted as constraints, while the Reserve…

The Economic Times

RBI appoints Suman Ray as Executive Director, to head DICGC and Premises Department

Suman Ray will assume the role of Executive Director at the Reserve Bank of India. His appointment is effective from September 1, 2026, as announced by the central bank. Previously, Ray served as the Regional Director for Maharashtra and has extensive experience. He will now oversee the Department of Deposit…

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