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Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said banks and non-banking financial companies (NBFCs) need to strengthen their capital position as there could be stress due to the second wave of COVID-19. Das also said he was confident that the non-performing loans of banks will be within the projections made in its Financial Stability Report (FSR) in January this year. Banks and NBFCS need to augment their capital because there could be stress arising out of the second wave, Das told reporters post the monetary policy announcement. He, however, added that in response to the RBI s call and based on their own assessment, private and public sector banks raised capital from the market throughout last year and so their overall capital position is at a very stable level currently. ....
Read more about Higher surplus transfer to govt happened due to lower provisioning: RBI on Business Standard. The higher surplus transfer by the central bank came in as a big relief for the government ....
Read more about RBI s MPC begins deliberations amid expectations of status quo in key rate on Business Standard. The RBI had kept key interest rates unchanged at the last MPC meeting held in April. ....
Read more about Sponsor investments in IFSC AIFs to come under the automatic route on Business Standard. RBI relaxation to allay round tripping concerns associated with sponsor commitment and shorten fund set-up time in IFSC ....
India’s import cover improved to 18.6 months at the end of December 2020, from 17.1 months at end-September 2020, the central bank said in its half yearly report on foreign exchange management. The ratio of short-term debt to reserves, which was 18.9 per cent at end-September 2020, declined to 17.7 per cent at end-December 2020. The ratio of volatile capital flows (including cumulative portfolio inflows and outstanding short-term debt) to reserves declined from 68.0 per cent to 67.0 per cent in the same period, the central bank said in its half yearly report on management of foreign exchange reserves. As at end-March 2021, the RBI held 695.31 metric tonnes of gold. Of this, 403.01 metric tonnes of gold were held overseas with the Bank of England and the Bank of International Settlements (BIS), and 292.30 tonnes of gold was held domestically. ....