Central Bank News

In comparison, private players like HDFC Bank, Axis Bank, ICICI Bank, Yes Bank and IDFC First have an average UPI technical decline of 0.04%. Among private players, Bandhan Bank has seen technical declines of over 1%.

Change in composition of Board of Directors

Intimation under SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 - Distribution Agreement with M/s Mirae Asset Investment Managers (India) Pvt. Ltd. for its Mutual Funds Products.

May's stable inflation, influenced by service costs and goods prices, sets the stage for potential Federal Reserve interest rate changes. The report highlights slight consumer spending growth and hints at the Fed's aim for a controlled economic slowdown through core inflation moderation.

Intimation under SEBI (Listing Obligations and Disclosure requirements) Regulations, 2015 - Co-Lending Partnership for MSME Loans with M/s Grihum Housing Finance Limited (formerly Poonawala Housing Finance Limited).

Newspaper publication regarding Notice of 17th Annual General Meeting of the Bank.

Business responsibility and Sustainability Report for 2023-24

Annual Report of the Bank for the Financial Year 2023-24.

Annual Report of the Bank for the Financial Year 2023-24.

Asian shares ended the week lower as profit-taking followed a rally to 26-month highs. The U.S. dollar's strength pushed the Japanese yen towards intervention levels.

Euro-area private-sector business activity lost momentum as France's snap election outcome weighs on firms. S&P Global's PMI fell to 50.8 in June, disappointing analysts. Europe's economy, recovering from last year's recession, faces challenges.

Asian shares end week with profit-taking as U.S. dollar strength pressures yen towards intervention zone.

Intimation of Book Closure for the purpose of 17th Annual General Meeting of the Bank scheduled on 16th July, 2024.

Notice of 17th (Seventeenth) Annual General Meeting of the Bank scheduled on 16th July, 2024.

Asian stocks paused near two-year highs as traders awaited U.S. policy clues. Sterling steadied ahead of a Bank of England meeting with unchanged rates expected. Central bank decisions from Switzerland and Norway will set the global rates tone.

The WGC survey received responses from a record-high 70 central banks. The survey shows that Central bank sentiment towards gold remains very high, with 29 per cent saying they will add more gold in the next 12 months and 81 per cent saying that official sector gold reserves overall will grow in the same period. Optimism towards gold’s future role in global reserves continues to grow, with 69% saying that gold’s share of reserves will be higher in five years compared to 62% last year, the WGC survey said.

In a parliamentary address on Tuesday, Bank of Japan Governor Kazuo Ueda hinted at the possibility of an upcoming interest rate increase, contingent upon forthcoming economic indicators. Ueda emphasized the necessity for further evaluation to ascertain if underlying inflation trends align with the central bank's 2% target over the long term.

Central banks cagey about joining the global interest-rate cutting cycle may reveal themselves this week with a quartet of decisions in advanced economies.

The Reserve Bank of India (RBI) has been awarded the "Risk Manager of the Year Award 2024" by Central Banking, London, for enhancing its risk culture and its pivotal role in ensuring financial stability in India. RBI's Executive Director, Shri Manoranjan Mishra, accepted the award at a ceremony in London. He highlighted the institution's rigorous risk management approach in navigating India's financial landscape.

Closure of Trading Window

Central bank decisions in Britain, Switzerland, and Norway will show the rate cutting trend, while retail sales data from the US and China will indicate consumer health. Europe gears up for the Euros 2024 tournament in Germany. Investors are monitoring cocoa supply issues in Ivory Coast, Ghana, and other countries like Brazil.

Disclosure under Regulation 30 of SEBI(LODR) Regulations, 2015 - Imposition of monetary penalty by RBI.

The Reserve Bank on Friday said it has imposed a penalty of Rs 1.45 crore on the Central Bank of India for non-compliance with certain directions related to 'loans and advances' and 'customer protection'. The RBI had conducted a statutory inspection for Supervisory Evaluation (ISE 2022) of the Central Bank of India with reference to its financial position as of March 31, 2022.

The Reserve Bank on Friday said it has imposed a penalty of Rs 1.45 crore on the Central Bank of India for non-compliance with certain directions related to 'loans and advances' and 'customer protection'. The RBI had conducted a statutory inspection for Supervisory Evaluation (ISE 2022) of the Central Bank of India with reference to its financial position as of March 31, 2022.

Asian traders extended a rally across world markets Thursday as they welcomed figures showing US inflation slowed further last month, tempering concerns about the Federal Reserve's forecast of just one interest rate cut this year. However, the Fed later in the day released its keenly awaited "dot plot" outlook for interest rates, which showed that decision-makers saw just one cut this year -- down from three predicted in its previous guidance in March.

Japan's Nikkei share average fell 0.66% to 38,876.71, dragged down by Fast Retailing. The broader Topix slipped 0.73% to 2,756.44. Market analysts await key updates on Bank of Japan's policy.

The number of frauds detected in the banking system last fiscal almost tripled on year, according to the central banks’ annual report with the RBI governor highlighting the need for a system wide approach to mitigate such frauds.

Revision in Credit Ratings.

The Reserve Bank of India has declined the reappointment of RK Bansal as MD and CEO of Edelweiss Asset Reconstruction (ARC), citing regulatory lapses and allegations of loan evergreening. This decision follows a recent ban on Edelweiss ARC and its subsidiary, ECL Finance, from acquiring new stressed loans and undertaking new businesses.

MSCI's global equities index rose while investors awaited U.S. inflation data and central bank policy meetings. The euro fell after French President Emmanuel Macron called a snap election.

The Nifty index closed the week with a 3.6% increase amidst two significant occurrences: the highly anticipated election results and the monetary policy decision by the Reserve Bank of India (RBI). As trading resumes on Monday, a range of significant domestic and international events scheduled throughout the holiday-shortened week are expected to influence market movements.

The minutes of the meeting will be available on June 21. Varma and Goyal have argued that high interest rates might be hindering potential growth. They have previously debated that a high real interest rate—the difference between the actual interest rate and inflation—could be compromising growth.

Tokyo stocks traded in a narrow range on Friday after a mixed finish on Wall Street as investors await key US jobs data. "The Tokyo market is expected to stay within a narrow range in early trade after the US market ended mixed," brokerage house Monex said.

The S&P 500 and Nasdaq composite dipped from record highs ahead of key labor market data. Nvidia fell, while utilities and industrials dragged the S&P 500 lower. Investors await the U.S. nonfarm payrolls report, which may influence Federal Reserve decisions.

Stocks and bonds lost steam ahead of the US jobs report, impacting the Federal Reserve's next steps. Traders refrained from big bets as equities retreated from all time highs.

India's interest rate decision and Chinese trade figures are key events for Asian investors on Friday amid global political volatility and stock market highs.

In new forecasts, the ECB said it expected inflation to average 2.2% in 2025 - up from a previous estimate of 2.0% and meaning it was now seen holding above the central bank's 2% target well into next year. ECB President Christine Lagarde said that only one ECB Governing Council member had opposed the bank's decision to cut interest rates earlier in the day.

"Was it a unanimous decision? Yes, but for one governor," Lagarde told reporters at a post-meeting news conference. "I leave it to your sagacity to identify who it is."

It was enough to snip the pan-European STOXX 600's gains back to 0.6%, while the euro inched up to almost $1.0890 against the dollar and government bond yields - which reflect borrowing costs and move inversely to price - ticked up too.

ECB raises inflation forecast for 2024, 2025. Analysts say the quarter-point cut on Thursday would likely not usher in a swift series of further cuts as the bank waits to make sure inflation is under control while easing credit to help the economy. While inflation at an annual rate of 2.6% in May is well down from the peak of 10.6% in October 2022, the decline has slowed in recent months and inflation even ticked up slighly from 2.4% in April.