Author: root

Fall in outward remittances good news for India’s current account, BFSI News, ET BFSI

Banking & Finance

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India’s outward remittances fell by as much as $6 billion in FY21 as the pandemic put brakes on ordinary overseas travel and student traffic to campuses abroad, partly contributing to the current account surplus of $24 billion.

This is the first time annual remittance outflows contracted since 2015 when the Reserve Bank of India (RBI) doubled the annual limit for sending money abroad to $250,000 and allowed more current account transactions under the Liberalised Remittance Scheme (LRS).

Total outflows contracted 32% in FY21 as major heads like travel, overseas studies and maintenance of close relatives saw a sharp dip. But outflows under permissible capital account transactions like investment in overseas deposits picked up.

“The fall is largely due to complete restrictions on travel. Nil MICE (meetings & incentive) movements, and there are no trade fairs and exhibitions due to Covid,” said Harsh Kumar Bhanwala, executive chairman of Capital India Finance, which makes outward remittances under the RemitX brand.

Curbs on leisure travel contributed to this trend while outbound student traffic was almost nil last year as overseas universities moved online to check the spread of the pandemic, Bhanwala said.

Outward remittances fell to $12.7 billion during FY21, from $18.7 billion in FY20, RBI data showed. Under the LRS started in 2004, all resident individuals, including minors, are allowed to remit up to $250,000 per financial year for any permissible current or capital account transaction or a combination of both.

These include private visits to any country (except Nepal and Bhutan), gift or donation, going abroad for employment, emigration, maintenance of close relatives abroad, travel for business, or for meeting medical expenses, or for studies abroad or any other current account transaction which is not covered under the definition of current account in FEMA 1999.

Two heads — travel and remittance for studies abroad – accounted for about 56% of outward remittance during the year as the pandemic induced lockdown globally even restricted essential travel forcing students to defer their travel plans for overseas studies. While travel outgo dipped 53% to $3.2 billion, expenses for studies abroad dipped 23% to $3.8 billion during the year.

Significantly, capital account transactions like resident individual investments in overseas financial markets rose during the year, albeit on a small base, with investors likely eying the combined benefit of rising yields and dollar strength over a period of time. Investment in overseas equity and debt rose 9.4 per cent to $472 million and investment in overseas deposits rose per 9.1 cent to $680.4 million.



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GIFT-IFSC can be the hub for ‘internationalisation of Rupee’: IFSCA Chairman

Banking & Finance

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In order to cater to the global demand for financial products such as non-deliverable forwards in Rupee, the International Financial Services Centres Authority (IFSCA) looks to make GIFT-IFSC as the hub for internationalisation of rupee derivatives.

IFSCA Chairman Injeti Srinivas, informed that rupee derivatives is one of the most traded currencies globally and that the recent measures by the Reserve Bank of India (RBI) will help India tap the offshore rupee derivatives market.

“On an average about $50 billion of daily volumes in offshore derivatives market show there is a lot of international demand for non-deliverable forwards (derivatives) in Rupee,” Srinivas said at a panel discussion on ‘The Future of Global Financial Centres: GIFT IFSC’ organised by Bloomberg LP on Thursday.

Rupee derivative trades

While acknowledging that India is still making baby steps in offshore rupee derivatives, Srinivas mentioned that there can be “finite internationalisation of Rupee, as the country is still not mature to achieve full internationalisation.” RBI has already given its nod for trading rupee derivatives at the GIFT-IFSC.

With $150-200 m daily volumes, a rousing startto India INX’s Rupee-Dollar derivatives trade

The exchange-traded derivatives to be allowed at GIFT-IFSC will provide international players such as Foreign Portfolio Investors, Indian companies, IFSC banking units, global banks and NRIs investors and custodians to hedge in the currency.

India’s domestic regulator RBI finds it feasible to allow offshore Rupee derivatives, hence, Srinivas believes that, India can host rupee derivative trades for foreign investors through the IFSC.

The growing interest for rupee derivatives is evident from the data, which shows that the value of Rupee derivatives traded in offshore exchanges such as Dubai, Singapore and Chicago is on par with the transactions in domestic exchanges such as the BSE, NSE and MSE.

On the other hand, the value of non-deliverable Rupee forwards traded in offshore markets far exceeds the value transacted onshore. At this juncture, this makes it a fit case to tap the international investors.

Trading of rupee derivatives in GIFT-IFSC will help tame the currency

IFSCA, Srinivas informed, is also working aggressively on channelizing green finance from global players into India through GIFT-IFSC. “Rough estimates suggest that in next 10 years, looking at the UN’s Sustainable Development Goals objectives and commitments at Paris climate agreement, the investments required will be around $4 trillion and about 50 per cent has to come as global capital inflows. IFSC will attract and channelize this global investments into India. This country has the ability to absorb that flow of money,” Srinivas said.

Meanwhile, besides the other financial activities, GIFT IFSC is also witnessing a growing traction from Alternate Investment Funds, which are lining up for the launch. Dipesh Shah, head development & international relations at IFSCA informed that about 25-30 AIFs are likely to come in the next 2-3 months. “About 25-30 AIFs are at very advanced stages of discussion. We expect about 25-30 such funds to come in the next 2-3 months,” Shah said.

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Inclusion of retail and wholesale trade in MSMEs to help UCBs achieve higher PSL target

Banking & Finance

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The classification of retail and wholesale trade as Micro, Small and Medium Enterprises (MSMEs) has come at an opportune time for urban co-operative banks (UCBs) as they are up against the challenge of a steep rise in priority sector lending (PSL) targets.

The Reserve Bank of India (RBI) had revised upwards the PSL target for UCBs in March 2020 from the then prevailing 40 per cent of net credit target.

So, UCBs had to achieve a PSL target of 45 per cent of net credit by March-end 2021. Further, they have to achieve PSL milestones of 50 per cent by March-end 2022, 60 per cent by March-end 2023, and 75 per cent by March-end 2024.

Bankers in the UCB sector were somewhat anxious whether they can achieve the 75 per cent PSL target by 2024. Now, with the inclusion of retail and wholesale trade within the ambit of MSMEs, this target seems attainable.

Under PSL, banks have to give loans to segments such as agriculture, micro, small and medium enterprises (MSEs), export credit, education, housing, social infrastructure, among others.

Employment opportunities

Satish Marathe, Founder-Member, Sahakar Bharati, and Director, Central Board, RBI, said UCBs will get a big relief as advances to retail and wholesale trade, and traders will now come under PSL.

He emphasised that this will promote self-employment and open up several other employment opportunities.

The classification of retail and wholesale trade as MSMEs was announced by the Government on July 2, 2021. Under the revised guidelines, loans to these segments will be classified as PSL.

Jyotindra Mehta, President, The National Federation of Urban Cooperative Banks and Credit Societies (NAFCUB), said: “This is a good move. Most of the UCBs are mid and small-sized banks. Their loan exposure limit is less.”

“So, by default, the loans these banks give is classified as MSME only. Since retail and wholesale trading has now come under the ambit of MSME, it widens the scope of lending for UCBs.”

Mehta observed that UCBs are cut-out for lending to MSMEs.

As at March-end 2020, the share of PSL in UCBs total advances was 50.4 per cent against 44.2 per cent as at March-end 2019, as per RBI data.

Of the 1,539 UCBs as at March-end 2020, majority (71 per cent) had advances of less than ₹100 crore and about 57 per cent had deposits of less than ₹100 crore.

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3 Top Performing And Highly Rated Mid-cap Funds That Delivered Consistent Returns Over 1-5 Years

Personal Finance

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1. Kotak Emerging Equity- Growth:

The mid-cap fund from the house of Kotal mutual fund commands an NAV of 72.34. This fund is an 8 year old fund and benchmark of the fund is Nifty Midcap 100 TRI. Expense ratio of the fund is 0.61 percent. Return grade from the fund has been also above average.

The fund has major investment into sectors including financials, engineering, chemicals, construction and healthcare etc.

Top holdings of the fund include Supreme Industries, Coromandel International, Persistent Systems, The Ramco Cements, Thermax etc.

2. PGIM India Midcap Opportunities Fund - Direct Plan – Growth:

2. PGIM India Midcap Opportunities Fund – Direct Plan – Growth:

This is a CRISIL 5-star rated fund which has outperformed the benchmark with higher return of 99% over the 1 -year period. The fund was introduced in the year 2013 and carries an expense ratio of 0.41% i.e. sharply lower than the category average expenses.

Top 10 stocks in the portfolio of the fund include Coforge, Mindtree, Aarti Industries, Federal Bank, Sanofi India etc.

Minimum SIP investment in the fund can be made from Rs. 1000. Also, in case of early redemption within a span of 90 days, there shall be charged 0.5% exit load for units more than 10% of the investment. Rs. 3.6 lakh investment in the fund via SIP route over the 3-year period is now valued at Rs. 6.94 lakh.

3. Axis Midcap Fund-Growth:

3. Axis Midcap Fund-Growth:

Of all the fund this mid cap fund from the Axis Mutual funds has offered the highest 5-year return. Value Research has accorded the fund a 5-star rating. The fund’s NAV as on July 8 is 61.76. SIP in the fund can be started or Rs. 500 and for lump sum one needs to put in a minimum of Rs. 5000 into the scheme.

This is a 10 year old fund with the benchmark S&P BSE Midcap TRI. The fund has been classified as carrying a high risk.

Top stock holdings of the fund include Voltas, Cholamandalam Investment & Finance, Astral Poly, PI Industries, Coforge, ICICI Bank etc.

GoodReturns.in

Disclaimer:

Disclaimer:

The views and investment tips expressed by authors or employees of Greynium Information Technologies, should not be construed as investment advise to buy or sell stocks, gold, currency or other commodities. Investors should certainly not take any trading and investment decision based only on information discussed on GoodReturns.in We are not a qualified financial advisor and any information herein is not investment advice. It is informational in nature. All readers and investors should note that neither Greynium nor the author of the articles, would be responsible for any decision taken based on these articles. Please do consult a professional advisor. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates and authors do not accept culpability for losses and/or damages arising based on information in

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RBI asks banks to shift from scam-tainted LIBOR to other rate benchmarks, BFSI News, ET BFSI

Banking & Finance

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The Reserve Bank of India has asked banks and financial institutions to use any widely accepted alternative reference rate (AAR) instead of LIBOR (London Interbank Offered Rates) as the reference rate for entering into new financial contracts.

The Reserve Bank‘s directive follows a decision of the Financial Conduct Authority (FCA), UK which on March 5, 2021, had announced that all LIBOR settings would either cease to be provided by any administrator or would no longer be representative.

The UK directive to phase out LIBOR came after a rate fixing scandal involving major global banks.

The RBI directive

In order to deal with the emerging situation, the RBI has asked banks and financial institutions to “cease entering into new financial contracts that reference LIBOR as a benchmark and instead use any widely accepted alternative reference rate (ARR), as soon as practicable and in any case by December 31, 2021.” The financial institutions, it suggested, should incorporate robust fallback clauses in all financial contracts that reference LIBOR and the maturity of which is after the announced cessation date of the LIBOR settings.

The RBI has also advised the financial institutions to cease using the Mumbai Interbank Forward Outright Rate (MIFOR), a benchmark which references the LIBOR, latest by December 31, 2021.

Board approved plan

The Reserve Bank of India (RBI) had in August 2020 asked banks to frame a board approved plan, outlining an assessment of exposures linked to LIBOR and steps to be taken to address risks arising from the cessation of LIBOR, including preparation for the adoption of the ARR.

While certain US dollar LIBOR settings will continue to be published till June 30, 2023, the extension of the timeline for cessation is primarily aimed at ensuring roll-off of USD LIBOR-linked legacy contracts, and not to encourage continued reliance on LIBOR.

“It is, therefore, expected that contracts referencing LIBOR may generally be undertaken after December 31, 2021, only for the purpose of managing risks arising out of LIBOR contracts (e.g. hedging contracts, novation, market-making in support of client activity, etc.), contracted on or before December 31, 2021,” the RBI said.

It has also asked banks and financial institutions to incorporate robust fallback clauses, preferably well before the respective cessation dates, in all financial contracts that reference LIBOR and the maturity of which is after the announced cessation date of the respective LIBOR settings.

The central bank also said it will continue to monitor the evolving global and domestic situation with regard to the transition away from LIBOR and proactively take steps to mitigate associated risks in order to ensure a smooth transition.

LIBOR scandal

The LIBOR Scandal was a highly-publicised scheme in which bankers at several major financial institutions colluded with each other to manipulate the LIBOR. The scandal sowed distrust in the financial industry and led to a wave of fines, lawsuits, and regulatory actions. Although the scandal came to light in 2012, there is evidence suggesting that the collusion in question had been ongoing since as early as 2003.

Many leading financial institutions were implicated in the scandal, including Deutsche Bank (DB), Barclays (BCS), Citigroup (C), JPMorgan Chase (JPM), and the Royal Bank of Scotland (RBS). As a result of the rate fixing scandal, questions around LIBOR’s validity as a credible benchmark rate have arisen and it is now being phased out. According to the Federal Reserve and regulators in the U.K., LIBOR will be phased out by June 30, 2023, and will be replaced by the Secured Overnight Financing Rate (SOFR).



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LIC puts 15 bad loan accounts including DHFL, RCom on block ahead of IPO, BFSI News, ET BFSI

Banking & Finance

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LIC has put on block its fully provided 15 bad loan accounts, including DHFL, RCom and IL&FS, on sale as it cleans up books ahead of its initial public offering.

The accounts that are put on sale include DHFL (Rs 2,610 crore), RCom (Rs 2,200 crore), Reliance Capital (Rs 775 crore), Amtek Auto (Rs 380 crore) and Jaiprakash Associates (Rs 313 crore) and IL&FS (Rs 300 crore).

The corporation has brought down its net non-performing assets to 0.05% as of March 2021 from 0.79% as of March 2020 and is selling its fully provided NPAs.

The corporation has fully provided for these loans and the sale would improve the quality of its portfolio. The corporation is selling its default debt in a phased manner.

IDBI Capital Markets is offering LIC’s loans to asset reconstruction companies, banks, NBFCs, and alternate

investment funds. The potential buyers must sign a non-disclosure agreement. The investment bank may resort to the Swiss challenge method of selling where the rivals will be given an option to improve on the best bid. Some of the loans were being sold because of a regulatory requirement.

Gearing up for IPO

As part of its IPO plans, the corporation plans to audit its half-yearly accounts for the period ended September 2021.

Traditionally, the corporation has been publishing only full-year accounts. The half-yearly accounts are likely to include the embedded value — a valuation method unique to insurance companies that includes the net present value of future earnings from policies. LIC has appointed Milliman as the actuary for the process and EY as the advisers.

The corporation is simultaneously engaged in the recast of its capital base that will enable the distribution of shareholding over a much wider base.

No Chairman post

LIC will now have the post of Chief Executive Officer and Managing Director instead of the Chairman position, with the government making changes to relevant rules ahead of the IPO.

The changes have been made by the Department of Financial Services under the finance ministry by amending Life Insurance Corporation of India (Employees) Pension (Amendment) Rules. Besides, some other rules under LIC Act, 1956, have been amended.

“Chief Executive and Managing Director means the Chief Executive Officer and Managing Director appointed by the Central Government under section 4 of the Act (LIC Act 1956),” according to a gazette notification issued on July 7.

To facilitate the listing of the insurance behemoth, the government has already approved raising its authorised share capital to Rs 25,000 crore.

Besides, the Department of Economic Affairs under the finance ministry recently amended the Securities Contracts (Regulation) Rules.

Companies that have a market capitalisation of more than Rs 1 lakh crore at the time of listing can now sell just five per cent of their shares, with the latest amendment in rules, a move that will be beneficial for the government during the LIC initial public offer.

Such entities will be required to increase its public shareholding to 10 per cent in two years and raise the same to at least 25 per cent within five years.



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Will Resurgent Coronavirus Impact Real Estate Prices Across India?

Personal Finance

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Realty prices may see upward momentum

When the first wave of coronavirus hit India, experts were of the opinion that real estate will be one of the sectors to be terribly impacted by the Covid-19 pandemic since lockdown was imposed to curb the spread of the disease, and hence construction work also came to a halt. Also, there was a mass exodus of labourers from big cities like Delhi, Mumbai, and others which acted like salt on the wounds. But, contrary to the expectations and predictions by realty experts, the real estate sector in many states and cities witnessed a rise in the booking of flats.

Now, since the second wave is here, in terms of real estate a million-dollar question again comes to the fore – Will resurgent coronavirus impact real estate prices across India?

Going by the trend seen in the real estate sector during the first wave of coronavirus in India in 2020, the prices in the realty domain will see an upward movement and it has its own reasons and logic to it.

Work from home

Work from home

Amid a rise in coronavirus cases, most of the firms have opted to work from home so as to curtail the further spread of the Covid-19 pandemic and save more and more lives. Since working from home is becoming new normal so people require an additional room to complete their office tasks peacefully. This has given a rise to a trend of people buying properties wherein at least one room is dedicatedly there for the office work.

Spending more and more time with family

Since many people have stopped going to the office as they are working from home, hence they have more time to be spent with the family; which means more time at home. This is also expected to give rise to the demand for bigger and better houses/flats so that people can spend quality time with their friends and family.

Actual buyers: For residence, not investment

Actual buyers: For residence, not investment

There has been a huge surge of demand by people who want to buy flats for actual residential purposes, not just for investment or realty value appreciation. Keeping in view this trend, a further spike is expected to be witnessed in the real estate sector.

Low home loan interest rates

Low home loan interest rates

Most of the banks are now offering home loans at all-time low interest rates. Since the home loan interest rates are favourable, home buyers are expected to mint the benefits of the bank offers for their dream houses.

According to a real estate report, the residential sector has picked up steam in Q1 2021 (January-March 2021) due to a number of new realty project launches. Moreover, the report reveals that the demand by homebuyers has increased as compared to the previous quarter. Also, private equity investment inflows into the Indian real estate sector totalled USD 1.9 billion (INR 135 billion) in Q1 2021, according to a recent study. Home buyers are regaining confidence in the realty sector despite Covid-19 pandemic-related slowdown. The first quarter of the year 2021 has already seen nearly a third of the investment inflows seen in the entire year of 2020.

The current unprecedented surge in Covid-19 cases left various state governments with no other option except curfew or partial lockdown but soon as cases are coming down the situation will be under control soon, and the real estate sector will flourish even more. Undoubtedly, lockdowns and curfews show an impact on the real estate sector but this sector is known for making amazing comebacks as it did last year once coronavirus cases started dying down.

The prices in the real estate sector are bound to go up, especially of the projects by reputed builders know for delivering inventories within the promised time frame. There is a simple rule of demand and supply. Since, demand from the actual homebuyers is going up due to a number of reasons – work from home, low home loan interest rates, more time with family to name a few – prices too in the realty sector is expected to witness a spike.

About the author

Annuj Goel, the author of the article is the Managing Director of Goel Ganga Developments, a real estate player.



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Reserve Bank of India – Tenders

Tenders

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(Only through e-procurement)

RBI/Mumbai/Others/1/21-22/ET/21.

1. Reserve Bank of India, Protocol & Security Establishment, Mumbai Regional Office, Mumbai (RBI/Bank) invites E-tenders in two parts (Part I & Part II) from FMS Companies Firms/Housekeeping Agencies/Firms “E-TENDER FOR PROVIDING FACILITIES MANAGEMENT SERVICES (WASHROOM CLEANING) AT OFFICE BUILDINGS OF RESERVE BANK OF INDIA, MUMBAI.”. The interested vendors must register themselves on the MSTC portal for participating through e-tendering. The period of contract will be from date of award of work (issue of the work order) up to March 31, 2022 as per laid down contractual obligations (The Tender along with the prices shall remain valid initially for a period of 3 months from the date of opening of Part-I). The work is estimated to cost Rs. 1,94,00,000/- (Rupees One Crore Ninety-Four Lakh only) inclusive of all applicable taxes, cess and any other charges or levy (excluding GST).

2. The Pre-Qualification papers super scribed as “E-TENDER FOR PROVIDING FACILITIES MANAGEMENT SERVICES (WASHROOM CLEANING) AT OFFICE BUILDINGS OF RESERVE BANK OF INDIA, MUMBAI.” addressed by name to Shri. Ajay Michyari, Regional Director, Reserve Bank of India, shall be submitted to AGM (Admin) P & SE, Fort Office Mumbai latest by 29.07.2021 till 02:00 PM for Bank’s examination. Alternatively, the scanned copy of all the PQ document may be send on Email id: ssdhongade@rbi.org.in, ugmundhe@rbi.org.in and sumitandure@rbi.org.in latest by 29.07.2021 till 02:00 PM. However, those firms who have forwarded the scanned copies through mail has to submit the original copies of PQ documents personally/by courier on or before 29.07.2021 by 02:00 PM.

3. The Earnest Money Deposit (EMD) of Rs. 3,88,000/- (Rupees Three Lakh Eighty Eight thousand only) may be remitted through NEFT or Bank Guarantee may be furnished in respect of the said amount. The Bank Guarantee (from Scheduled Commercial Bank) submitted towards Earnest Money deposit has to be valid for the validity period of the tender plus additional 45 days. Documentary evidence in support of remittance shall be submitted in sealed cover addressed to The Regional Director, Reserve Bank of India, Protocol and Security Establishment, Mumbai-400 001 so as to reach P&SE Office up to 12:00 noon on 18/08/2021 super scribing as “EMD for E-TENDER FOR PROVIDING FACILITIES MANAGEMENT SERVICES (WASHROOM CLEANING) AT OFFICE BUILDINGS OF RESERVE BANK OF INDIA, MUMBAI.”.

4. Online tenders will be available for viewing /download from 11.00 AM on 09/07/2021 from the website www.mstcecommerce.com.

5. A pre-bid meeting (off-line mode) of the intending Tenderers will be held on 06/08/2021 at 11.00 AM.

6. Place of Pre-Bid meeting:

Protocol & Security Establishment, Reserve Bank of India, Mumbai Regional Office, First Floor, Main Building, SBS Road, Fort, Mumbai- 400001.

7. Place, Time and date before which written queries for Pre-bid meeting must be received:

Protocol & Security Establishment, Reserve Bank of India, Mumbai Regional Office, First Floor, Main Building, SBS Road, Fort, Mumbai- 400001 by 05:00 PM on or before 05/08/2021.

8. The duly filled in tender documents shall be uploaded on MSTC site. (Date of Starting of online submission (Part-I & Part- II) of e-tender from 11/08/2021 at 11:00 AM and Date of closing of online submission of e-tender is 18/08/2021 up to 01:00 PM)

9. Part-I of the tenders will be opened on-line at 2.00 PM on 18/08/2021 and if there are no condition in Part – I, the Price Bid will be opened on the same day. The authorised representative, if desired, may be present at the opening of Part I and Part II of the tender.

10. RBI is not bound to accept the lowest tender and reserves the right to accept either in full or in part any tender. The Bank also reserves the right to reject any or all the tenders without assigning any reason thereof.

Regional Director

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SBI, ICICI, Axis are UBS’ top banking picks, BFSI News, ET BFSI

Banking & Finance

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Mumbai: UBS expects banks to report muted loan growth and a 25-50 basis point increase in non-performing loans in the first quarter.

Ahead of the start of the earnings season, the brokerage said unsecured loans and loans against property are the most important segments for the private sector players.

The brokerage prefers banks with greater provision buffers and has a buy rating on SBI, ICICI Bank, and Axis Bank.

Kotak Mahindra Bank and Punjab National Bank are the least preferred names. UBS has a sell rating on both the banks and has a neutral stance on Federal Bank, IndusInd , HDFC Bank and Bank of Baroda.

“While we expect a gradual recovery in economic growth, a sustained economic slowdown could impact the banking and finance sector on several fronts – this may lead to a slowdown in credit, increase NPL risk, impact fee income and exert pressure on NIM,” said UBS.

The brokerage said competition from other financial savings products such as mutual funds, insurance, could slow deposit accretion for banks, leading to intense competition for deposits, which, in turn, could put pressure on margins of banks growing loans faster than the industry.

“Provisions could be higher than expected if the economic slowdown due to Covid-19 is extended further or the NPL resolution process is extended and haircuts are higher than our current estimates,” said the UBS report.



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Reserve Bank of India – Press Releases

Press Releases

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April 14, 2015




Dear All




Welcome to the refurbished site of the Reserve Bank of India.





The two most important features of the site are: One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise; two, a much improved search – well, at least we think so but you be the judge.




With this makeover, we also take a small step into social media. We will now use Twitter (albeit one way) to send out alerts on the announcements we make and YouTube to place in public domain our press conferences, interviews of our top management, events, such as, town halls and of course, some films aimed at consumer literacy.




The site can be accessed through most browsers and devices; it also meets accessibility standards.



Please save the url of the refurbished site in your favourites as we will give up the existing site shortly and register or re-register yourselves for receiving RSS feeds for uninterrupted alerts from the Reserve Bank.



Do feel free to give us your feedback by clicking on the feedback button on the right hand corner of the refurbished site.



Thank you for your continued support.




Department of Communication

Reserve Bank of India


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