Detailed regulations and industry’s access for regulatory clarifications can provide the much-needed clarity for businesses, setting clear boundaries and expectations that reduce uncertainty and foster compliance, writes the author
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The kitty was at a record high of USD 704.885 billion before it started falling. It is likely that the recent drop in reserves is due to RBI's intervention to arrest a sharp depreciation in Rupee
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The RBI's ruling thus serves as a much-needed safeguard for consumers who often fall for the lure of quick loans without fully understanding the predatory interest rates that follow
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Some high-frequency indicators have, however, shown a slackening of momentum in the second quarter of 2024-25 partly attributable to idiosyncratic factors like unusually heavy rains in August and September
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In its October bulletin, the central bank noted that rural demand is expected to benefit from improved agricultural prospects, and private investment could gain momentum as consumption strengthens and business optimism rises
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RBI’s recent action on few lenders reminds the industry that usury, in any form, remains unacceptable. Fair pricing, transparency, and consumer protection are non-negotiable. It is unfair to sensationalise or criticise the regulatory action because of the brand name of any of these lenders
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The report observes and asks whether lending rates alone were the cause for concern by RBI against specified NBFCs or whether broader issues are at play
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This is the second buyback operation by the central bank this month, and one of the most successful since such operations resumed in May this year, following a six-year pause. Institutions offered a total of Rs 33,201.4 crore in bids
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The companies were found to be charging excessive interest rates, which did not comply with the guidelines outlined in the apex bank’s regulations
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The report adds that one of the main factors contributing to this expected moderation is the high credit-to-deposit ratio in the Indian banking system
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