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3 weeks ago | 
thehindubusinessline.com | K Ram Kumar |Piyush Shukla
The central government on Wednesday approved the appointment of Poonam Gupta as the new deputy governor (DG) of the Reserve Bank of India (RBI), to succeed former DG Michael Patra, who helmed some of the key departments during his term between January 2020-2025. She is the first female DG appointed at the RBI after a period of nearly 14 years. Gupta is only the fourth DG to be appointed at the RBI, an institution which has been in existence since 1935.
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3 weeks ago | 
thehindubusinessline.com | K Ram Kumar |Piyush Shukla
The Reserve Bank of India (RBI) will have a woman Deputy Governor (DG) after a gap of about 14 years. The government has appointed Poonam Gupta as RBI DG, a post which was lying vacant after Michael Patra demitted office in mid-January 2025. Gupta currently serves as the Director General of National Council of Applied Economic Research (NCAER), an economic policy think tank.
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3 weeks ago | 
thehindubusinessline.com | K Ram Kumar
The Government Securities (G-Sec) market was buoyed on Thursday, the first trading session of the current financial year, due to the surprise RBI announcement that it will conduct four open market operation (OMO) purchase auctions of these Securities this monthYield of the benchmark 10-year G-Sec declined 10 basis points, the sharpest single day fall in almost a year, with its price jumping 72 paise.
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3 weeks ago | 
thehindubusinessline.com | K Ram Kumar
The Department of Posts (DoP) is planning to double the number of ATMs across the country to 2,000 in the current financial year (FY26). The installation of new on-site ATMs, which will be enabled for the interoperable card-less cash withdrawal facility, will be under the opex (operating expenditure) model. Under the opex (brown-label) model, the ATM is owned by the vendor (ATM managed service provider) while the site is developed and maintained by the bank.
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3 weeks ago | 
thehindubusinessline.com | K Ram Kumar
About 500 weak urban co-operative banks (UCBs), which are currently under RBI’s supervisory action framework (SAF), will transition to the prompt corrective action (PCA) framework for remedial action with effect from April 1, 2025. The central bank’s PCA Framework will replace the SAF for financially unsound and poorly managed UCBs with effect from the aforementioned date.
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3 weeks ago | 
thehindubusinessline.com | K Ram Kumar
Banks are increasingly selling retail loan accounts showing signs of incipient stress to Asset Reconstruction Companies (ARCs) in order to avoid the impact of provisioning on their bottomline should they turn non-performing down the line. This is underscored by the fact that Crisil recently noted an increase in the proportion of low-vintage (or Special Mention Account/SMA) borrowers, as reflected in its rated Security Receipt (SR) portfolio, from 5 per cent in FY2023 to 25 per cent in FY2024.
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4 weeks ago | 
thehindubusinessline.com | K Ram Kumar
The umbrella organisation (UO) for urban co-operative banks (UCBs) is close to attaining the regulatory target of ₹300 crore paid-up capital, with smaller – Tier I and Tier-II – banks expected to make up the shortfall of about ₹40 crore. Capital infusion proposals aggregating ₹124.5 crore were approved at the recent extraordinary general meeting of the UO – the National Urban Co-operative Finance and Development Corporation (NUCFDC), according to Jyotindra Mehta, Chairman of the Corporation.
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1 month ago | 
thehindubusinessline.com | K Ram Kumar
The Reserve Bank of India (RBI) on Monday issued revised priority sector lending (PSL) guidelines for banks, enhancing limits for loans such as housing and education, even as it the PSL target for urban cooperative banks (UCBs) has been brought down from 75 per cent to 60 per cent. The revised guidelines, which is expected to facilitate better targeting of bank credit to the priority sectors of the economy, will be effective from April 1, 2025.
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1 month ago | 
thehindubusinessline.com | Anupama Ghosh |K Ram Kumar
Indian benchmark equity indices extended their rally for the fifth straight session and ended with highest weekly gain in more than 4 years, on bargain hunting and foreign portfolio investors turning net sellers last couple of days. The rupee also ended the week 100 paise higher against the greenback logging the best week in more than two years. The weekly gains in the stock markets were led by realty stocks, PSU stocks and financials.
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1 month ago | 
thehindubusinessline.com | K Ram Kumar
The Payments Council of India (PCI) has cautioned payment service providers (PSPs) about their financial sustainability being at severe risk, a day after the government slashed the outlay under the scheme for the promotion of low-value BHIM-UPI transactions (Person-to-Merchant) by more than half. The incentives for transactions up to ₹2,000 for small merchants in the financial year 2024-25 has been slashed from ₹3,500 crore in FY24 to ₹1,500 crore in FY25.
