RBI
RBI net absorbed $561 million in June as inflows picked up
In June, the Reserve Bank of India engaged in net purchases of $561 million from foreign exchange markets, showcasing its response to significant capital inflows into India. Following its dollar sales in April and May to stabilize the rupee, the central bank recorded nearly $73 billion in inflows from early June to August. Moreover, the RBI's gold reserves remained steady at 880.52 metric tonnes.
RBI is showing up whenever rupee weakens in intervention shift
India's central bank is intensifying efforts to support the rupee. Foreign deposit inflows have bolstered the Reserve Bank of India's intervention capacity. The currency's near-term volatility has fallen close to a ten-month low. Higher crude prices and narrowing interest rate differentials add pressure. The RBI faces a delicate balance between growth and currency defense.
RBI rate hike risk rises: Bandhan AMC’s Suyash Choudhary dials back duration in bond portfolios
Bandhan AMC has reduced duration across several bond funds as RBI rate hike risks rise following the latest MPC minutes. CIO Suyash Choudhary said markets are increasingly debating the timing and magnitude of potential hikes, while fading FCNR flows and changing policy expectations could drive a flatter bond yield curve.
RBI working to give banknotes in your pocket a longer lease on life
The RBI is exploring ways to extend the life of banknotes, including surface coatings and polymer notes for lower denominations, Deputy Governor Shirish Chandra Murmu said in the central bank’s monthly bulletin.
Citigroup, Axis Bank team up to leverage NRI deposits as RBI dollar inflows surge
Citigroup and Axis Bank have tied up to finance non-resident Indians investing in foreign-currency deposits, leveraging RBI rules that allow standby letters of credit against such deposits. The arrangement could amplify dollar inflows through offshore financing as India seeks to strengthen foreign-exchange reserves and support the rupee amid strong NRI deposits.
RBI proposal to curb NBFCs' revolving credit may choke MSME funding, says industry body FISME
FISME has urged the RBI to reconsider its proposal to bar NBFCs from offering revolving credit, warning that a blanket ban could disrupt working-capital finance for MSMEs. The industry body said revolving credit helps small businesses manage cash-flow gaps, as they can draw funds when needed, pay interest only on the amount used and restore their credit limit after repayment.
India gets $72.8 billion in dollar inflows under RBI swap facility
India has received $72.8 billion in dollar inflows through FCNR(B) deposits, external commercial borrowings and overseas foreign currency borrowings under the RBI’s special swap facility as of August 21.
Housing price index rises 1.1% in Q1 sequentially: RBI data
India’s house price index rose 1.1% quarter-on-quarter in Q1 FY27 (April-June), driven mainly by Chandigarh, Lucknow and Thiruvananthapuram.
Broad-base rise in food prices despite monsoon recovery, RBI's state of economy report shows
India's economy shows resilience with improved domestic demand and strong activity. Food prices have seen a broad-based increase, impacting inflation targets. Global economic outlook faces challenges from West Asia conflicts and US tariffs. India's financial markets record high credit growth and comfortable liquidity. The country's macroeconomic fundamentals provide a cushion against global risks.
RBI’s great dollar haul: Where are the $73 billion going?
India has mobilised about $73 billion in foreign currency in under 11 weeks, largely through FCNR(B) deposits, yet the rupee remains near ₹95-96 per dollar. The inflows are primarily strengthening RBI’s foreign-exchange buffers rather than being used to push the currency higher.
RBI's concessional swap scheme mobilises $73 bn in less than 11 weeks
The RBI’s special forex swap facility has mobilised $73 billion in foreign exchange inflows as of August 21, with FCNR(B) deposits accounting for $65.4 billion, reflecting strong participation from NRIs.
Lenders may turn to OFCB route to raise more funds abroad
Indian banks are now shifting focus towards borrowing in overseas foreign currencies to meet their fundraising requirements. This strategic pivot comes in light of an advanced deadline on August 31 that altered original plans tied to deposit-linked fundraising. With the Reserve Bank of India (RBI) moving the timeline forward, many lenders have revised their bond issuance approaches.
Govt reappoints Anand Mahindra to RBI board, names former Isro chief S Somanath as non-official director
Anand Mahindra has been reappointed to the Reserve Bank of India's central board. Former ISRO Chairman S Somanath also joins the board for a four-year term. Their appointments are effective from August 20, 2026, according to the RBI. Mahindra's reappointment ensures continuity and brings diverse business experience. Somanath's technological expertise will aid the central bank's digital focus.
Saturday bank holiday today? Are SBI, HDFC Bank, ICICI Bank and others open or closed on 5th Saturday of the month?
Saturday bank holiday: August 2026 features significant celebrations such as Ker Puja and Independence Day that will influence bank schedules. To stay informed, customers are encouraged to refer to the RBI holiday calendar for detailed updates.
RBI Board reviews global, domestic challenges, economic outlook risks
The RBI’s Central Board reviewed global and domestic economic challenges and risks to India’s outlook at its 624th meeting, chaired by Governor Sanjay Malhotra. The board also assessed operational areas, including the functioning of its committees and Ombudsman Scheme.
RBI's early FCNR(B) deposit scheme closure 'data-driven' or a policy U-turn? Governor Malhotra explains
RBI Governor Sanjay Malhotra defended the FCNR(B) deposit scheme's early closure. He stated the decision was data-driven and a prudent calibration. This move aims to attract $80 billion into India's economy. The central bank cited stronger than expected dollar inflows for the adjustment. The RBI remains committed to managing exchange rate volatility and market conditions.
India bonds wobble as supply, RBI cash-drain risks loom
On Thursday, investor appetite for Indian government bonds dwindled amidst fears of increased supply and concerns over RBI's liquidity stance. The results from the treasury bill auction reflected weak demand, driving yields upward. Speculation is building that the Reserve Bank of India may take steps to curtail excess liquidity, preparing for possible policy adjustments as inflationary pressures rise. Market analysts predict interest rate hikes within the next year.
India Inc sales growth accelerates to 19.4 per cent in Q1 FY27, manufacturing leads recovery: RBI
Indian companies show stronger sales growth entering fiscal year twenty twenty seven. Manufacturing sales accelerated significantly, driven by key industries like automobiles. Operating profit growth also jumped across major sectors, improving margins. Companies faced elevated input costs, which impacted raw material expenses. However, improved pricing power helped absorb these higher costs effectively.
At $729 billion, India's forex kitty a record
India's foreign exchange reserves achieved a historic high of $729.3 billion by August 21, fueled by substantial NRI deposits under a specialized swap window. The foreign currency assets grew by $9.4 billion, while gold reserves also experienced a positive shift. The RBI's new facility has helped gather $72.85 billion in inflows since its June launch, resulting in a total growth of $48 billion in reserves attributed to this initiative.
Rupee strengthens to 95.41 after oil cools
The Indian rupee strengthened significantly on Tuesday, gaining 33 paise. This appreciation occurred as oil prices retreated and the Reserve Bank of India sold dollars. The rupee closed at 95.41, trading between 95.40 and 95.75 during the session. Oil prices fell more than three percent, influenced by US sanctions on Iran. Domestic markets will be closed Wednesday for a holiday.
India's house price growth slows to 3.6% in Q1 FY27: RBI
In the first quarter of this year, the growth rate of house prices in India decelerated to 3.6 percent compared to the previous year, down from 4.5 percent in the last quarter. However, there was a quarterly increase of 1.1 percent in the All-India House Price Index, primarily thanks to notable contributions from cities like Chandigarh and Lucknow. This trend signifies a general slowing of annual price growth by June.
RBI warns food, fuel costs could reignite broader inflation
Most high-frequency indicators showed sustained manufacturing and services activity in July. Merchandise exports and imports experienced double-digit expansion, continuing Q1 momentum. Headline consumer price index inflation edged up, primarily due to supply-side pressures. Stable core inflation reaffirmed lower pass-through of cost pressures to consumers. Liquidity conditions eased, supporting credit growth and foreign capital inflows.
RBI imposes penalty on Progfin, Shri Ram Finance Corporation for non-compliance
The Reserve Bank of India recently levied fines on two financial firms for regulatory failures. Shri Ram Finance Corporation was penalized Rs 8.10 lakh due to management transitions and a lack of proper risk classification for clients. Meanwhile, Progfin incurred a Rs 2.70 lakh fine for failing to conduct timely risk reviews. Both penalties highlight the significance of compliance with established regulations.
Banks, FIU-IND work on sharper framework to flag money mule accounts
Banks are enhancing suspicious transaction reporting for money mule accounts. They aim for better analysis and pattern identification by the principal officer. Artificial intelligence and machine learning tools are now being deployed. This initiative follows parliamentary committee recommendations for accountability. The goal is to recover funds and prevent financial system misuse.
ICICI raises $1 billion, Union Bank $600 million through dollar bonds
ICICI Bank raised $1 billion through a five-year private dollar bond, while Union Bank of India secured $600 million in its first international dollar issue in over a decade, benefiting from RBI’s special swap window. UCO Bank also approved a $1 billion programme.
HDFC Bank's CEO call gains urgency as Sashidhar Jagdishan's term nears end
The timeline stands in contrast to Jagdishan's previous reappointment. HDFC Bank's board had recommended a fresh three-year term for him on March 4, 2023, nearly eight months before his first tenure was due to expire. The Reserve Bank of India approved the appointment in September that year.
RBI plans buyback of Rs 30,000 crore G-Secs
The Reserve Bank of India has announced a buyback of government securities amounting to Rs 30,000 crore, targeting those set to mature in the fiscal year 2027. This strategic decision aims to alleviate the impending redemption pressure, as over Rs 6 lakh crore in securities are approaching maturity. The buyback is scheduled for September 3.
India lenders' dollar debt sales top $10 billion since RBI window, ICICI Bank beats peer to lead pack
ICICI Bank is set to raise one billion dollars through the issuance of five-year bonds, marking its fourth bond sale this month. With over three billion dollars already raised via the RBI window, this move contributes to the collective bond issuance of over ten billion dollars by Indian banks. This funding initiative is aimed at bolstering their lending and investment activities.
India raises $73 bn in forex inflows at record pace
India has mobilised $73 billion in foreign exchange inflows in less than 11 weeks, surpassing the scale and pace of the RBI’s 2013 FCNR(B) swap scheme, the finance ministry said.
Rupee dips, reversing intraday gains, as importer dollar demand dominates
The Indian rupee declined on Thursday, reversing early gains against the dollar. Importer dollar demand increased, and month-end pressures also contributed to the fall. A modest recovery in the dollar index further dampened the rupee's momentum. Banks absorbed two days of inflows after a holiday, increasing swap costs. The rupee had previously seen its biggest single-day rise after oil prices slipped.
Small Urban co-operative banks face risks bigger than their size due to cyber threats: RBI Dy Governor
Urban co-operative banks may be limited in size but face risks far beyond their physical footprint, RBI Deputy Governor Swaminathan J said. He flagged cyber threats, digital fraud and dependence on external service providers as key vulnerabilities, urging stronger safeguards, continuity planning and shared infrastructure to bolster UCBs’ resilience.
India's forex reserves soar by $9.9 billion to $716.90 billion as on August 14
India's foreign exchange reserves jumped $9.905 billion to $716.90 billion in the week ended August 14, RBI data showed. Reserves had risen $14.1 billion to $707 billion a week earlier, marking the highest level in the current fiscal year. The latest increase came as FCNR(B) scheme inflows started reflecting.
LIC gets RBI nod to raise stake in HDFC Bank to nearly 10% from 4.11%
Life Insurance Corporation of India received approval from the Reserve Bank of India. This allows LIC to increase its stake in HDFC Bank to 9.99 percent. Currently, LIC holds 4.11 percent of HDFC Bank's total share capital. The approval grants LIC flexibility to raise its investment in the lender. This development strengthens LIC's financial services sector exposure.
Full flow FCNR deposits could hit $100 billion, beat estimates
Strong FCNR(B) deposit inflows have led analysts to raise their estimates for dollar mobilisation through the scheme. Jefferies now expects inflows to reach $90-100 billion by August 31, up from its earlier estimate of $70-80 billion.
Axis Bank set to raise $700 million through ECB swap facility
Axis Bank is set to secure seven hundred million dollars through a dedicated external commercial borrowing facility. This loan features two tranches with tenures of three and five years. The arrangement is spearheaded by CTBC Bank from Taiwan and United Overseas Bank from Singapore, with significant contributions from the World Bank's IFC. Additional banks are anticipated to participate as the syndication phase unfolds.
SBI eyes $10 billion from NRIs, foreign investors ahead of RBI swap window closure
State Bank of India expects to gather USD 10 billion from non-residents and foreign investors. The bank's total business aims to reach Rs 200 lakh crore by 2030. This ambitious target aligns with the country's economic growth projections. SBI's balance sheet could potentially double every six years. The bank's operations are closely linked to India's economic performance.
Rupee hits three-week low, traders wary about fall to 96/USD as RBI stands guard
On Wednesday, the Indian rupee hit its lowest point since late July, primarily due to high oil prices and sustained demand for the dollar. Despite this, the Reserve Bank of India's interventions helped to temper the rupee's fall. The escalating crude oil costs have contributed negatively to its value, as investors eagerly anticipate upcoming policy review minutes from both the RBI and the Federal Reserve.
India bonds log worst week in FY27 on RBI surprise U-turns
Indian government bonds encountered significant challenges this week, marking the worst week of the financial year. The Reserve Bank of India's hawkish policy minutes triggered a selloff, compounded by the early closure of a diaspora-deposit hedging facility. Additionally, soaring crude oil prices heightened inflation concerns and rate hike fears in India, culminating in a notable increase in bond yields.
NRI selling inherited property in India? Agricultural land, farmhouse, and plantation property have stricter sale and repatriation rules
Non-Resident Indians (NRIs) hold the right to inherit property in India; however, selling such assets involves navigating a complex set of regulations. Stricter rules apply to agricultural lands and farmhouses, particularly regarding their sale and repatriation. The method of repatriating sale proceeds varies based on the property's origin and classification.
Banks & legal eagles quietly revive foreign family office
Some large private banks and law firms are assisting Indian families with offshore family offices. These institutions are navigating regulatory interpretations regarding cross-border fund transfers. While regulations permit overseas investment in financial services, intent remains debated by experts. Banks are selectively clearing remittances for foreign family offices, citing literal interpretations of rules. This situation highlights a need for clearer guidelines from the Reserve Bank of India.
Food prices on the rise, domestic demand keeps economy strong
India's economy shows resilience with improved domestic demand and strong economic activity. Food prices have seen a broad-based increase, raising concerns for monetary policymakers. Global economic outlook remains weighed by West Asia conflicts and new US tariffs. High-frequency indicators reflect strong manufacturing and services momentum continuing into July.
NRI deposit inflows dip 23%; FCNR draws 124% more
Non-resident Indian deposits saw a significant year-on-year decrease in the first quarter. However, overall outstanding NRI deposits experienced a slight increase by June. Foreign Currency Non-Resident (Bank) deposits more than doubled during this period. The Reserve Bank of India introduced a special FCNR(B) window to boost capital. This special facility attracted substantial foreign exchange inflows before its closure.
RBI board gets three new part-time directors
The Appointments Committee of the Cabinet (ACC) has approved the appointment of Annie George Mathew, Syed Akbaruddin and Janmejaya Kumar Sinha as part-time non-official directors on the Reserve Bank of India’s central board for four years.
India's forex reserves hit record high of $729.33 billion after $12.4 billion weekly jump
India's foreign exchange reserves have reached an all-time high of $729.328 billion. This surge marks a significant build-up in the nation's external reserves. Foreign currency assets and gold reserves drove this substantial increase. The Reserve Bank of India's measures have attracted considerable forex inflows. These reserves are now higher than both end-March and a year earlier levels.
India's foreign exchange reserves up almost $50 billion since July
India's foreign exchange reserves rose over $9 billion in the week ending August 14. Foreign currency assets and gold reserves significantly contributed to this overall increase. Banks received substantial funds through special deposit schemes and borrowing measures.
Indian economic growth likely slowed to 7.1% in April-June quarter: Reuters poll
Indian economic growth slowed to 7.1 percent in the April-June quarter. Consumer spending and government expenditure supported this growth while private investment remained subdued. Rising crude oil prices pose risks to the economy and could strain household budgets. Economists forecast growth to lose momentum in coming quarters. The Reserve Bank of India is predicted to keep interest rates unchanged for six months.
India bonds hang tight before supply as oil stalls
On Friday morning, Indian government bonds found stability as oil prices leveled off. The market reacted to hawkish minutes from the central bank and a sudden spike in crude prices. Later today, a major debt sale will gauge investor interest in bonds. As retail inflation surpassed the Reserve Bank of India's target, rising oil prices and global yields will influence the upcoming market direction.
Hawkish MPC, West Asia conflict cloud rupee, bond yield outlook
In light of the hawkish monetary policy minutes and the ongoing conflict in West Asia, the outlook for the rupee and bond yields appears uncertain. However, record forex inflows offer a cushion for the central bank, allowing it to manage currency pressures effectively. Analysts expect the rupee to fluctuate between 95.50 and 96.00, with interventions from the central bank.
India's 10-year bond yield scales over 2-month peak ahead of Warsh speech
The Indian bond market experienced notable losses on Friday, with government bond yields climbing to a two-month peak. As investors anticipate key policy hints from Federal Reserve Chair Kevin Warsh during his Jackson Hole address, the hawkish tone in the latest RBI minutes has intensified expectations for future monetary policy adjustments. This escalation in yields has enhanced the attractiveness of Indian bonds compared to U.S.
HDFC Bank CEO Sashidhar Jagdishan to step down in October
Ending all speculation over extension, Jagdishan has told the board he won't be seeking reappointment. The bank will now fast-track the successor selection process.
Bank credit, deposits decline in fortnight ended August 15: RBI data
Banking sector saw deposits withdrawn and credit outstanding decrease in the fortnight. Banks are not renewing bulk deposits, opting for foreign currency funds instead. This shift slowed year-on-year deposit growth to 14.7 percent. Outstanding bank deposits stood lower at Rs 269.31 lakh crore.
Banks ride RBI swap wave to raise $12 billion via overseas debt
This week was the busiest for forex debt issuance by Indian lenders. ICICI Bank, Kotak Mahindra Bank, IDFC First Bank, HDFC Bank and Bank of Baroda together raised a massive $4.4 billion, and the bulk of the proceeds may be used to help fund the leverage for foreign currency non-resident (bank) [FCNR (B)] deposits.
Fino Payments Bank board extends tenure of interim CEO by another three months
Fino Payments Bank's board approved an interim CEO tenure extension. Ketan Merchant's role as interim MD and CEO will continue. This extension requires approval from the Reserve Bank of India. Merchant took charge after Rishi Gupta's arrest in February. Gupta faced allegations related to GST law violations.
Rupee faces pressure as RBI defends 95.45 against dollar amid rising crude oil prices
The Reserve Bank of India is defending the rupee at 95.45 against the dollar. Traders are closely watching crude oil prices amid West Asia crisis concerns. Dollar demand from importers and oil companies is expected to increase significantly. The FCNR(B) deposit drive's final stretch may offer some rupee support. The rupee's movement depends on RBI intervention and cooling oil prices.
Treasury heads in buying mode as 5-year yield jumps
With government bond yields now at attractive levels, treasury heads are actively thinking about making purchases. After the RBI's FCNR(B) scheme ended, the five-year bond yield closed at 6.52%. Although there's speculation about a delay in renewed buying due to upcoming policy minutes, the banking sector's liquidity remains robust, with funds ready to be invested shortly.
Rupee dips on week as oil pangs linger, intervention prevents fall past 96/USD
The Indian rupee exhibited stability on Friday, though it faced a weekly decrease. Factors such as increasing oil prices and apprehensions about supply disruptions played a role in its performance. The Reserve Bank of India's timely intervention helped prevent any serious decline against the dollar. Meanwhile, substantial foreign currency inflows enhance the central bank's ability to intervene, providing stability to the rupee amidst subdued volatility.
RBI Governor Sanjay Malhotra flags inflation risks; says rate recalibration needs greater clarity, MPC Minutes show
RBI Governor Sanjay Malhotra said greater clarity on the inflation trajectory is needed before any recalibration of the policy rate, as the central bank remains alert to risks from food, fuel and input costs. The MPC retained the repo rate, with members favouring a wait-and-watch approach amid persistent uncertainties.
Yes Bank, RBL put dollar bond plans on hold
Yes Bank withdrew its dollar debt plan as investors sought higher yields. RBL Bank also postponed their dollar bond issuances. These lenders await a more favorable time to raise necessary foreign currency. An oversupply of Indian bonds has increased investor demand for better returns. This situation impacts the banks' ability to secure international funding.
India to give Canada's Fairfax two years to consolidate holdings for IDBI Bank deal: Sources
Fairfax Financial may receive two years to consolidate its Indian bank holdings. This consolidation is necessary for its acquisition of a majority stake in IDBI Bank. The government and Life Insurance Corporation are finalizing this significant transaction. Fairfax currently holds a substantial stake in the smaller lender CSB Bank. The Canadian investor will either sell its CSB stake or merge it with IDBI Bank.
ET Analysis: RBI’s FCNR U-turn dents policy certainty
The RBI’s early closure of its special FCNR(B) deposit swap window has raised concerns over policy certainty. Banks had mobilised $52.3 billion under the scheme by August 14, prompting the RBI to shut it on August 31 instead of September 30. Bankers say the move could disrupt dollar borrowings and leverage plans, while raising questions about India’s investment-policy predictability.
FCNR(B) swap cost unlikely to have driven RBI’s early closure: SBI Research report
SBI Research said the cost of the RBI’s FCNR(B) swap facility is unlikely to have driven its early closure, estimating cumulative hedging costs at USD 10.5 billion over five years. It said mobilisation targets may already have been achieved, with FCNR(B) deposits at USD 52.3 billion as of August 13.
Bank holiday today (Aug 26, 2026): Are SBI, PNB, HDFC Bank and other banks open or closed today for Eid-E-Milad and Onam?
On August 26, 2026, banks will remain closed in observance of Onam and Id-E-Milad. Customers planning visits to physical branches are advised to consult the RBI holiday calendar beforehand. While Onam is a vibrant harvest celebration honored in Kerala, Eid-e-Milad marks the significant birth anniversary of Prophet Muhammad, influencing banking activities across several states.
Rupee falls to a 3-week low of 95.71, raising financial concerns
The Indian rupee closed at a three-week low of 95.75 on Wednesday. Substantial central bank interventions prevented further losses for the local currency. The RBI has consistently intervened for nine trading sessions, arresting rupee weakness. This action occurred as oil prices continued to soar significantly. Indian equity indices also fell, reflecting the impact of soaring energy costs.
Union Bank of India taps dollar debt market after 12-year hiatus
Union Bank of India has made a significant move by raising six hundred million dollars through the sale of bonds, which include three-year and five-year notes at appealing interest rates. This event is particularly notable as it represents the bank's first public dollar bond sale in more than ten years.
RBI's surprisingly hawkish tone in policy minutes weighs on Indian bonds
Early Thursday saw a significant sell-off in Indian government bonds as minutes from the central bank's recent policy meeting hinted at possible rate hikes. Policymakers conveyed increased concerns about inflationary pressures within the economy. Additionally, soaring oil prices exacerbated anxieties about rising interest rates, potentially putting further strain on the rupee and negatively impacting the inflation forecast.
Sebi proposes merchant banker exemption for small-value private debt issues
Sebi has proposed waiving mandatory merchant banker appointments for eligible listed issuers raising small-value debt privately. The move aims to cut costs and delays, while safeguards would restrict exemptions to regulated companies issuing senior secured debt rated AA- or higher.
Gold bond premature redemption calendar for October 2026-March 2027 released: Check all SGB exit dates to redeem your investments
The Reserve Bank of India has set specific premature redemption windows for Sovereign Gold Bonds, allowing investors to withdraw funds between October 2026 and March 2027. Applications for early withdrawal must be made through approved channels, such as banks and post offices. It's imperative for investors to pay attention to these official dates to ensure their requests are processed without issues.
Sabse bada rupaiya: India prints 3x more notes than the US, 6x more than Europe
India's rupee banknotes in circulation significantly outnumber US dollar and Euro notes. The Reserve Bank of India reports 176 billion rupee notes are currently in use. This volume is driven by a preference for lower-denomination notes and a Clean Note Policy. Physical currency circulation expands at double-digit rates annually, despite digital payment growth. This expansion presents forecasting challenges for the central bank's production planning.
NBFCs seek RBI rethink on revolving credit curb
Senior representatives of some of the country's largest NBFCs met on August 14 to discuss the issues they intend to raise with the RBI. The lenders will make a formal representation through the Finance Industry Development Council, the industry body representing NBFCs, this week, according to the people.
Delayed, Not Denied: India’s BGAI entry waits on market access
India’s potential inclusion in the Bloomberg Global Aggregate Bond Index remains delayed, not denied, with operational accessibility the key hurdle. Inclusion could attract $15–25 billion in foreign inflows, diversify India’s bond investor base, ease borrowing pressures, and strengthen its global investment appeal. A phased inclusion remains likely, supporting India’s long-term bond-market integration.
India raises $72.8 billion via overseas deposits, loans, central bank says
Indian banks have raised over seventy-two billion dollars through overseas borrowings. These funds were secured from non-resident Indians and other loan sources. Banks have been permitted to use these foreign funds for lending to non-resident Indians. The Reserve Bank of India reported sixty-five billion dollars via FCNR deposits. A discounted forex swap facility for banks will close on August thirty-first.
Onam bank holiday today: Are banks open or closed on Tuesday, August 25, 2026? Check status
Bank holiday today: In Kerala, banks will remain closed on August 25 and 26 in observance of Onam and Milad-i-Sherif, while several other states will also celebrate Id-E-Milad with a closure on August 26. Despite these holidays, online and mobile banking will be fully operational. Customers are encouraged to plan their branch visits accordingly to ensure a smooth banking experience during these festive days.
Raghuram Rajan calls for Federal Reserve rate hike, says US economy 'not being held back'
Former RBI governor Raghuram Rajan advocates for higher US Federal Reserve interest rates. He believes current financial conditions remain too loose for controlling inflation. Rajan points to strong investment and fiscal deficits as growth drivers. The US economy shows little sign of being constrained by borrowing costs. Meanwhile, the Indian rupee has shown unexpected resilience recently.
Cross-border trade in local currencies reduces transaction costs: RBI deputy governor
Local currencies will increasingly drive cross-border trade and payments, reducing costs and improving efficiency. Technology will be leveraged across the entire customer transaction chain for digital origination and reporting. India's foreign exchange reserves have significantly grown, and domestic forex market turnover has doubled recently. The market faces challenges with skewed participation and unauthorized online trading platforms operating outside regulations.
RBI deputy governor Murmu calls for focus on meaningful financial inclusion
Banks must measure financial inclusion by effective usage and informed decisions. Technology shifts and consumer behavior necessitate responsive banking systems. Digital inclusion deepens, and AI helps recognize capability across diverse groups. Institutions need skilled people to challenge models and oversee external providers. Prudence requires pooled intelligence and credible alternatives for system resilience.
India's outward FDI jumps 17% to $5.7 billion in July: RBI
India’s outward FDI rose 17% year-on-year to $5.70 billion in July from $4.88 billion a year earlier, according to provisional RBI data. It was also higher than the $3.14 billion recorded in June.
Abhishek Banerjee's bank account reactivated following KYC update, Calcutta HC disposes of TMC MP's plea
The Calcutta High Court disposed of Abhishek Banerjee's petition regarding his frozen bank accounts. His accounts and cards were reactivated after submitting required KYC documents to the bank. The court noted that banks should provide notice before blocking customer accounts. The bank stated that Banerjee's account was blocked due to high-risk factors and third-party data. Banerjee's lawyer argued that partial freezing requires repeated reminders and phased action.
ETMarkets Smart Talk | How to invest ₹1 crore in bonds for 3 years: Vineet Agarwal’s playbook
For investors with a three-year horizon, the focus now shifts from chasing capital gains to earning steady carry while managing credit, liquidity and reinvestment risks.
India 10-year bond gives up post-policy gains as oil moves, RBI swap pullback weigh
Indian government bonds saw a decline for the second consecutive day, erasing previous gains as high oil prices and the premature conclusion of a deposit scheme weighed on investor sentiment. Following the central bank's policy announcement, the benchmark bond yield rose sharply. Swap rates also jumped, indicating a negative shift in market mood. Future bond yields will be influenced by both global and local factors.
UPI completes 10 years: PM Modi calls it a major turning point for India’s digital payments
Prime Minister Narendra Modi on Tuesday termed the Unified Payments Interface (UPI) a "major turning point" in the country's digital payments journey, as the interface completed 10 years since its launch.
ETMarkets Smart Talk | Bonds aren’t boring: Where Devang Shah sees the best fixed-income opportunities
At the same time, the RBI remains watchful of risks from geopolitics, crude oil prices and global monetary policy developments.
RBI measures lift FY27 BoP outlook to over $50 bn surplus, CAD seen at 1%: SBI Research
FCNR(B) deposits: In FY27, India is anticipated to enjoy a balance of payments surplus amounting to USD 50 billion, driven by robust foreign currency inflows that are set to greatly benefit the nation's external economic stability. The Reserve Bank of India’s deposit scheme has successfully attracted considerable foreign exchange investments. This initiative's goal is to enhance external liquidity, with forecasts indicating an appreciation of the rupee against the US dollar shortly.
FCNR deposits emerge as banks’ new FY27 growth lever: Report
Indian banks anticipate stronger net interest income and earnings growth in FY27. This outlook is supported by robust foreign currency deposit mobilization and healthy credit demand. Systemic credit growth is projected around fifteen percent year-on-year, with FCNR deposits aiding expansion. Asset quality remains stable, and deposit growth has strengthened significantly by end-July. ICICI Securities maintains a positive stance on the banking sector's performance.
Axis Bank bets on data centres to gold loans to outpace industry credit growth
Axis Bank expects credit growth to exceed industry averages this fiscal year. Strong demand stems from corporate sectors and retail borrowers seeking gold loans. This credit boom is projected to boost the bank's overall earnings significantly. Axis Bank is also preparing key businesses for potential public listings. The bank aims for sustained credit growth while managing lending margins effectively.
View: India needs guardrails around shadow loans, not bans
The RBI’s proposed curbs on flexi loans could reshape how India’s self-employed workers and small businesses borrow. While the move aims to prevent evergreening of bad debt, it could also restrict a useful source of flexible working capital. The bigger question is whether tighter oversight can curb misuse without shutting out genuine borrowers.
Odisha: Jagannath Temple 'Ratna Bhandar' inventory on Aug 31, Sep 1
Puri's Jagannath Temple authorities will conduct the Ratna Bhandar inventory on August 31 and September 1. These dates were finalized to avoid disrupting daily temple rituals and devotee darshans. The process will meticulously document valuables following the Odisha government's standard operating procedure. Gemologists and RBI officials will join expert goldsmiths for this important verification exercise.
RBI cuts FX swap window short after NRI deposits cross $50 billion
The Reserve Bank of India shortened its zero-cost FX swap facility for banks. This action followed substantial foreign deposit inflows from non-resident Indians. Policymakers also considered domestic liquidity effects and fundraising costs. The overseas fundraising supported the rupee, which had reached record lows earlier. These measures have bolstered foreign exchange reserves significantly.
RBI moves to distance self from bank deposit ratings
The Reserve Bank of India has instructed rating agencies to refrain from categorizing it as the regulator overseeing bank deposits. This recent directive raises the possibility that these credit assessment organizations may halt the evaluation of bank deposits entirely. With threats of deposit outflows and potential bank instability stemming from any downgraded ratings, the landscape of retail deposit reactions remains mixed.
HDFC Bank CEO Sashidhar Jagdishan to retire in October, will not seek reappointment
HDFC Bank's Chief Executive Sashidhar Jagdishan will retire in October. He has decided not to seek reappointment when his current term ends. The bank's board accepted his decision after persuasion efforts failed. Mr. Jagdishan will step down from his services on October 26, 2026. This announcement was made by the lender in a stock exchange filing.
Investors dump India bonds after hawkish RBI minutes
Domestic bonds experienced mounting pressure after the Reserve Bank of India's recent policy minutes conveyed a hawkish tone. The escalation in oil prices further compounded this decline in bond values. Policymakers expressed a willingness to raise interest rates if inflation concerns arise, triggering fears of increased borrowing costs within the economy. Meanwhile, global bond markets grapple with a challenging inflation and interest rate forecast.
India to pitch central bank digital currencies to BRICS partners at meet
The global grouping celebrates 20 years at the New Delhi summit on September 12-13. A high-level meeting would be held next week to thrash out mechanisms for use of digital currencies, and explore ways to increase intra-BRICS trade using national currencies, said the people mentioned above.
Should you close your PPF account after becoming an NRI? Here’s what to know about maturity, withdrawal, and tax rules
Moving abroad as an NRI? Your PPF account might not need immediate closure. Discover how your contribution, withdrawal, and maturity options change. Understand the crucial differences between becoming an NRI and a foreign citizen, and navigate the tax implications in your new country of residence.
Oil pain pins India bonds in range; RBI minutes to give next cue
Indian government bonds showed little movement on Wednesday, trading in a tight range. The increase in oil prices countered support drawn from softer U.S. Treasury yields, which affected trader sentiment. Market participants are now looking ahead to the impending policy minutes from the U.S. and Indian central banks for insights on future directions. The Indian rupee experienced a decline against the dollar, prolonging the Nifty 50 index's losing streak.
FCNR(B), nothing magical about it
The Reserve Bank of India is prematurely closing a special window for FCNR(B) bank deposits from the Indian diaspora, originally set to end September 30, now shutting on August 31. This move comes as the facility, which offered sweetened interest rates and shielded banks from currency risk and liquidity requirements, proved highly successful. The early closure is a precautionary measure due to liquidity considerations and potential adjustments to monetary policy.
India eases rules for rupee export payments, seeks to widen trade settlement
India has eased export payment rules, allowing rupee settlements with non-Asian Clearing Union countries. This move aims to promote wider use of the local currency in international trade transactions. Eligible rupee export receipts will now qualify for trade-policy benefits and count towards exporter obligations. The changes align with recent Reserve Bank of India foreign-exchange rules permitting broader rupee usage.
Indian bonds wobble on oil strain, RBI swap pullback
On Tuesday morning, Indian government bonds faced a downturn as oil prices spiked beyond ninety dollars. Concerns escalated after the central bank prematurely ended a diaspora deposit scheme, leading to uncertainty in the market. This pullback in liquidity support has rendered bonds susceptible to changes in oil prices and international rates. The five-year note saw a significant yield rise recently.
India bond yields hit two-month high as rate hike fears intensify
India’s 10-year benchmark bond yield climbed to a two-month high of 6.88% before closing at 6.85%, posting its biggest weekly rise this fiscal. Hawkish MPC minutes, potential rate hikes and escalating West Asia tensions drove cautious sentiment among bond traders.
India amends Foreign Trade Policy for easier rupee invoicing and payments for exporters
The government has amended its Foreign Trade Policy to ease rupee invoicing for exporters. Eligible rupee receipts now qualify for export benefits and obligations, aligning with new regulations. This change applies to exports to all countries, with specific rules for ACU members. Rupee settlements may reduce costs and risks for Indian exporters. The amendment aims to support wider international use of the Indian rupee.
