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Nifty Bank rises 650 points as report says RBI unlikely to hike rates to defend rupee; Axis, ICICI, HDFC shares jump up to 2%

Indian bank stocks surged on Friday morning. This followed a report indicating the Reserve Bank of India is not planning interest rate hikes to counter the rupee's decline. The RBI is reportedly focusing on inflation as the primary driver for its monetary policy decisions. Other measures are being considered in…

The Economic Times

RBI not in favour of rate hikes to defend rupee, prioritises inflation: Sources

India's central bank, the Reserve Bank of India, is not favoring interest rate hikes to protect the rupee. Instead, it is exploring other measures. Inflation, not the currency, will guide borrowing cost decisions. Policymakers are considering options like dollar deposit schemes and tax adjustments. The RBI believes rate hikes would…

The Economic Times

RBI not in favour of rate hikes to defend rupee, prioritises inflation

The Reserve Bank of India is not favoring interest rate hikes to protect the rupee. Instead, it is exploring other options. Inflation, not the currency, will guide borrowing cost decisions. Policymakers are considering various measures in coordination with the government.

The Economic Times

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Arvind Panagariya’s advice to RBI: ‘100 is just a number; let rupee depreciate or reserves will bleed out’

Arvind Panagariya, Chairman of the 16th Finance Commission, advises the Reserve Bank of India to allow the Indian rupee to weaken. He believes aggressively defending the currency with foreign exchange reserves is a losing strategy. Panagariya suggests that letting the rupee depreciate is the correct response to rising oil prices…

The Economic Times

RBI rate hikes to start in June, says Standard Chartered

RBI rate hike: Economists at Standard Chartered anticipate India's central bank will begin raising interest rates as early as June due to escalating inflation risks from higher crude prices. They predict 50 basis points of hikes, split between June and August, to anchor sentiment and manage second-order effects on the…

The Economic Times

India considering several measures to stop CAD from widening further, says Piyush Goyal

India CAD: India is watching the fluctuations in the global economy as policymakers deliberate on strategies to address the growing current account deficit, Piyush Goyal said. With the rupee under pressure amid uncertain global trade dynamics, the latest figures show a worrying trend for the December quarter; Nonetheless, the fiscal…

The Economic Times

SBI Bank Holiday Alert 2026: SBI branches may remain closed for up to 6 days from May 23-28 due to weekend, strike and Bakrid

SBI bank holidays May 2026: SBI branches may be closed for up to six days from May 23, 2026, due to a weekend, a proposed two-day staff strike, and the Bakrid holiday.

The Economic Times

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Can banks block your mobile in case of loan default? RBI lays down rules for restricting services; Rs 250/hour compensation in this case

If the lender bank decides to deploy any technology-based mechanism for restricting or disabling the functionalities of a mobile device of a borrower, it shall ensure adopting a graduated approach rather than disabling the device, ab initio; it can’t disable essential services like internet access, incoming calls, emergency SOS, and…

The Economic Times

RBI revives aggressive pre-market intervention to arrest rupee's slide, bankers say

The Reserve Bank of India aggressively sold dollars via state-run banks to halt the rupee's slide after it hit all-time lows. The intervention caused the rupee to surge significantly on the interbank market. This pre-open strategy, last used in March, aims to break a negative feedback loop of depreciation, with…

The Economic Times

RBI mulls all options, including rate hike, as rupee slumps

The Reserve Bank of India is exploring all avenues to steady the rupee. Options include raising interest rates and currency swaps. Officials are meeting to discuss actions after the rupee hit a new low. Measures mirror those from 2013. The central bank aims to stop depreciation and is ready to…

The Economic Times

RBI's new draft guidelines have digital wallets feeling the pinch

Founders and senior industry executives told ET that the new draft guidelines released by the RBI on April 22, if implemented in the current format, could shut down multiple business opportunities for the payments industry, which is already grappling with revenue generation challenges.

The Economic Times

Sebi proposes to permit third-party payment in mutual funds in certain scenarios

The current regulatory framework mandates that all payments for investments in mutual funds must originate directly from the investor's own bank account and be routed exclusively through RBI-authorised payment aggregators or Sebi-recognised clearing corporations.

The Economic Times

Rupee under pressure; crude oil, bond yields and dollar strength create perfect storm: Naveen Mathur

The Indian rupee is facing intense pressure due to rising crude oil prices, a strengthening dollar, and widening deficits. The Reserve Bank of India has actively intervened, depleting foreign exchange reserves to manage volatility rather than defend a specific level. Importers should hedge, while exporters benefit from the weaker currency.

The Economic Times

Experts see possibility of 50-75 bps RBI rate hike amid inflation pressures

Concerns are rising over India's economic outlook due to surging crude oil prices and inflation. Experts suggest the Reserve Bank of India might increase interest rates in the coming quarters. Global uncertainties and geopolitical tensions are adding pressure. While some anticipate a cautious pause, persistent inflation risks could lead to…

The Economic Times

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The Economic Times

Indian banking system robust despite West Asia crisis, falling forex reserves: Experts

Amid the turbulent times following the West Asia escalations, financial leaders expressed strong confidence in the resilience of the Indian economy and its banking architecture. They dismissed immediate panic over dipping foreign exchange reserves and raging geopolitical tensions.

The Economic Times

RBI proposes banks to disclose detailed information on capital, risks under Basel Pillar 3

The Reserve Bank of India is introducing new rules for banks under Basel III. Lenders will soon publish detailed information quarterly on capital, leverage, liquidity, and risks. This aims to boost transparency and market understanding. Banks must explain any significant changes in these figures. The new framework starts from the…

The Economic Times

RBI cancels licence of Maharashtra-based The Yashwant Co-op Bank

The Reserve Bank of India has cancelled the license of The Yashwant Co-operative Bank, Phaltan, Maharashtra, citing inadequate capital and poor earning prospects. The bank's operations will cease from May 19, 2026, with depositors to receive insurance claims up to Rs 5 lakh. Approximately 99.02% of depositors are expected to…

The Economic Times

India's inflation puzzle: How will fuel price play out

India's inflation debate intensifies as wholesale prices surge, driven by fuel costs, while retail inflation remains subdued. A recent fuel price hike is expected to push retail inflation higher, impacting household budgets. The RBI will closely monitor global crude prices, monsoon impact, and the pass-through of wholesale to retail inflation…

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The Economic Times

250% return on SGB premature redemption date: Gold bond turns Rs 1 lakh investment into Rs 3.5 lakh

The Reserve Bank of India has announced the premature redemption price for Sovereign Gold Bond SGB 2020-21 Series-II, fixed at Rs 15,904 per unit. Investors can redeem this tranche from May 19, 2026, after the fifth year. This offers an absolute simple return of over 250% on the initial investment.

The Economic Times

Positive cues from GIFT Nifty point to higher opening for D-Street

Markets are expected to remain event-driven with persistent volatility due to elevated crude oil prices, a weakening rupee, rising bond yields, and inflationary concerns. Despite resilient domestic earnings, investors are wary of the second-order impacts on inflation and the RBI's policy. The India VIX rose to 19.63, indicating market fear.

The Economic Times

Keeping close watch on supply shock, impact on inflation: RBI Guv Sanjay Malhotra

The Reserve Bank of India is watching global uncertainties closely. Governor Sanjay Malhotra stated the RBI is monitoring supply shocks. The central bank will act if price increases become widespread. India's monetary policy remains neutral, allowing flexibility. The RBI aims for price stability while managing short-term volatility. Future policy decisions…

The Economic Times

Credit card transactions jump 2.6 times in four years: RBI report

Credit card transactions in India saw a significant jump between 2021 and 2025. Private banks expanded their dominance in this segment. Debit card usage, however, decreased as consumers embraced digital payment methods like UPI and digital wallets. This shift highlights the rapid digitisation of India's payment ecosystem.

The Economic Times

RBI discontinues investment fluctuation reserve requirement for banks

The Reserve Bank of India has discontinued the Investment Fluctuation Reserve for commercial banks. This change takes effect from May 18, 2026. Balances in the IFR will be transferred to other reserves. The Reserve Bank has issued separate circulars for cooperative banks, small finance banks, and payments banks. This move…

The Economic Times

Uber CEO on Travis Kalanick; Micron’s warning to India

Dara Khosrowshahi told ET in an interaction that Uber is open to collaborating with founder Travis Kalanick. This and more in today’s ETtech Top 5.

The Economic Times

Not activating countercyclical capital buffer, says RBI

The Reserve Bank of India has decided not to activate the countercyclical capital buffer. This measure is not needed at this time. The buffer is designed to build capital in good times for use during difficult periods. It also aims to curb excessive lending. The framework was introduced after the…

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