Continued low borrowing costs will keep home loans affordable, encouraging both homebuyers and investors
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The decision of the MPC (Monetary Policy Committee) will be declared on June 7 (Friday)
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According to RBI, this initiative, initially introduced as a draft on January 15, 2024, has now been refined based on feedback from various stakeholders.
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The implementation of the draft guidelines, if carried out in its current form, is anticipated to have limited impact on NBFCs excluding NBFC-IFCs as Tier 1 Capital is expected to reduce by up to 83 bps over 3 years.
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Central bank norms allow full-fledged money changers to obtain their normal business requirements of foreign currency notes from other full-fledged money changers and authorised dealers in India
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The guidelines suggest provisioning for project loans from the current rate of 0.4 per cent to a range of one to five per cent without mentioning a lower threshold of financing
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The RBI typically conducts six bimonthly meetings in a financial year, where it deliberates interest rates, money supply, inflation outlook
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In India RBI's gold holdings rose to a record high of 822.1 tons by the start of April representing an 18.5 tons net acquisition since the beginning of the year.
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Custodian banks issuing IPCs must have a clause in their agreements with clients, granting the banks an inalienable right over the securities to be received as payout in any settlement.
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Atanu Chakraborty is reappointed for the same designation after Reserve Bank of India (RBI) approval for three years.
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