While the RBI has preferred Variable Rate Reverse Repo (VRRR) auctions to mop up excess liquidity, its toolkit includes options such as sales of government bonds, an increase in the Cash Reserve Ratio (CRR), the use of the Market Stabilisation Scheme (MSS) and foreign exchange swaps.
"FY 2023-24 will be a golden year for your bank, and with the right strategy, steady focus and clear vision, your bank will definitely scale up its performance and generate more value and returns to all its stakeholders," Atul Kumar Goel said.
During the year under review, there were 89.5 million digital transactions in the country. India accounted for 46 per cent of the global real-time payments in 2022, which was more than the combined digital payments the next four top countries.
V Anantharaman was a post-graduate diploma in business management from XLRI and a bachelor of engineering from Jadavpur University. Anantharaman was also a senior advisor to British International Investment (formerly CDC), UK’s Development Finance Institution.
"Pursuant to detailed discussions held by Union Home Minister and Minister of Cooperation Amit Shah, with Finance Minister Nirmala Sitharaman and Governor, Reserve Bank of India (RBI), the RBI has notified these vital measures to strengthen Urban Co-operative Banks," it said. The ministry has listed the four measures notified by the RBI.
The pace of growth in home loans will broadly mirror growth seen in HDFC's home loan portfolio, the first official said, declining to be identified as strategy discussions are not public.
All entities regulated by the central bank will have to ensure invocation of default guarantees within 120 days of a loan falling overdue, guidelines issued Thursday by the central bank mandated.
Prior to this, existing guidelines prescribed prudential limits for outstanding borrowing in call and notice money markets for scheduled commercial banks.
​​The Hinduja Group entity, Indusind International Holdings Ltd. separately will also seek Reserve Bank of India consent for the plan asRBI's 'fit and proper' endorsement is needed for acquirers of financial services companies in bankruptcy resolution exercises.