Market pulse › RBI
Today25 stories · 30 articles
Net tone▼ −23% today
Market check
Developing6 storylines
RBI in three lines
- India's forex reserves fell $14.89 billion to $766 billion in the week ended September 18
- Nomura expects RBI to hike repo rates 50 bps, taking the terminal rate to 5.75% by December
- RBI’s October 2026 holiday calendar lists 11 days when banks will be closed
2124 Sept
2925 Sept
1426 Sept
727 Sept
2128 Sept
Legal● mixed₹2,000+ UPI payment charges: SC refuses interim stay on 0.4% MDR, issues notice to govt, RBI, NPCI and othersUPIFintech and paymentsRBI rules
Policy● mixedPrinciples of regulation must never be forgotten: Here are five deviations that India must fix right awayRBI rulesIRDAIListing rules
Policy● mixedRBI’s new bulk deposit rules to kick in from October 1: Key changes explainedBanksRBI rules
Policy● mixedRBI awaits Tata Sons’ formal response on Upper Layer NBFC complianceTata SonsNBFCsRBI rules
Data● mixedBoth rural and urban demand remained firm in August, says RBIConsumer demandFMCG and consumption
Data▲ bullishIndia forex reserves surge to a record high in September and to provide cover for 11.2 months of goods imports, says RBIForex reserves hit a record high in September, covering 11.2 months of goods importsForex reservesRupee
● mixedIndian economy demonstrates resilience despite increased volatility amid re-escalating tensions in West Asia: RBIRBI said the Indian economy demonstrates resilience amid rising energy prices and increased volatilityMiddle EastGeopoliticsEconomic growth
Data● mixedResult of the Overnight Variable Rate Reverse Repo (VRRR) auction held on September 28, 2026RBI accepted ₹1,11,711 crore in its 1-day VRRR auction, against ₹2,00,000 crore notifiedBanking liquidityRepo rate
Market move● mixedWhy the rupee can't bounce back in a hurry—and other macro risks investors should watch out forDBS economist Taimur Baig discussed the Fed and RBI rate outlookRupeeUS FedRepo rate
Policy● mixedMorning Bid: A new neutral rate, much like a decades-old oneRepo rateCredit growthUS Treasuries
Market move▼ bearishIndian central bank likely shielding rupee as US-Iran impasses lifts oil prices, traders sayThe rupee declined 0.1% to 95.89 per dollarRupeeIranCrude oil
Policy● mixedET EXPLAINER: How RBI’s new valuation rules change the way banks view REITs, InvITsRBI amended the valuation framework for REITs and InvITsRBI rulesBanksOffice and REITs
Data▼ bearishIndia's forex reserves fall $14.89 billion to $766 billionForex reserves fell $14.89 billion to $766 billion in the week ended September 18Forex reservesRupeeGlobal markets
Broker call▼ bearishNomura expects RBI to raise rates by up to 50 bps by DecemberNomura sees a possible 50 bps increase by December, taking the terminal rate to 5.75%Repo rateNomuraCredit growth
Market move▼ bearishRupee faces pressure as Iran talks stall; RBI intervention seen as a bufferThe rupee settled at 95.8125 to the dollar on FridayRupeeIranUS dollar
Policy● mixedBank holidays in October 2026: Check state-wise RBI holiday list of 11 daysRBI’s October 2026 holiday calendar lists 11 days when banks will be closedBanks
Broker call▼ bearishMarkets pricing an excessive 125bps rate hike over the next one year: NomuraNomura says markets are pricing an excessive 125 bps of rate hikes over the next yearRepo rateCPI inflationConsumer demand
Market move▼ bearishRupee's likely to slip despite RBI push for stabilityThe rupee could fall to 96-97 per dollar by FY27-endRupeeUS dollarCrude oil
Leadership▼ bearishEight PSU banks lack non-executive chairmen, raising governance concernsEight PSU banks lack non-executive chairmen, raising governance concernsPSU banksPSUsBanks
Policy● mixedTata Sons gets RBI queries on listing compliance road mapTata SonsTata GroupListing rules
Policy● mixedHolding companies, NBFCs rejig assets, income to escape RBI scrutinyGroups are reshaping NBFC and holding-company balance sheets to avoid RBI registration and complianceNBFCsRBI rules
Data● mixedHigh credit-deposit ratio does not signal funding vulnerability: RBI reportRBI report says a high credit-deposit ratio alone does not signal funding vulnerabilityBanking liquidityCredit growthBanks
Data● mixedRBI net dollar purchases hit record $18.65 bn in July: Monthly bulletinRBI net dollar purchases reached a record $18.65 bn in July, driven by a concessional swap facilityUS dollarBanks
Data▲ bullishNRI deposit inflows surge nearly sevenfold to $36.2 billion in April-July FY27FCNR(B) deposit flows reached $34.53 billion in April-July FY27BanksForex reserves
Data▲ bullishPrivate sector capex projected to rise to ₹3.2 trn in FY27: RBI bulletinPrivate-sector capex is projected to rise to ₹3.2 trillion in FY27InfrastructureGovernment capexEconomic growth
Policy● mixedBanks open on Sunday ahead of nationwide strike: Will you get your salary today?Banks were asked to disburse salaries in advance to avoid disruptions during a nationwide strikeBanksUnited Forum of Bank UnionsIndian Banks’ Association
Policy▼ bearishETMarkets Smart Talk: RBI may hike 50-75 bps; Archit Shah on what’s next for bondsArchit Shah expects a 50-75 bps repo-rate hike, taking rates to 5.75-6%Repo rateInflationCrude oil
Policy● mixedDaily Voice: RBI stance shift likely in October, rate hike in December, says Valtrust's Rahul BhutoriaRepo rateCPI inflation
Policy● mixedDeposit per se may not be a binding constraint for credit creation: RBI bulletinCredit growthBanks
Market move▼ bearishRupee gains from FCNR (B) boost reverse in September amid higher crude oil prices: RBI bulletinThe rupee depreciated as crude oil prices rose, reversing gains from FCNR(B) depositsRupeeCrude oilForex reserves
Market move▼ bearishRupee seen trading between ₹94.5 and ₹96 as dollar inflows offer limited supportThe rupee is expected to fluctuate between ₹94.5 and ₹96 against the US dollarRupeeUS dollarGlobal markets
Market move▼ bearishETMarkets Smart Talk | Rate-cut cycle over, RBI may be at cusp of rate hikes; yields could inch higher: Puneet PalPuneet Pal expects the rate-cut cycle to end, with policy rates rising 50-75 basis points by FY27Repo rateCrude oilInflation
Market move● mixedRBI Deputy Governor Poonam Gupta says Indian bonds have outperformed while equities lagIndia’s bond market has outperformed many other nations in recent years, Gupta saysG-secsBond yieldsNifty and Sensex
Policy● mixedWill AI make banking riskier? Why RBI wants banks to keep human judgment in the loopBanksAIRBI rules
Market move▲ bullishRupee recovers as large public sector banks sell US dollarsRupee gained 15 paise to close at 95.81 per US dollar on FridayRupeePSU banksUS dollar
Leadership● mixedRBI appoints Suman Ray as Executive DirectorRBI appointed Suman Ray as Executive DirectorBanksDinesh Pant
Data● mixedReal economy drives financial, external sectors’: RBI on global risksGlobal marketsEconomic growthWorld Bank
Policy● mixedRBI bulk deposit rule changes take effect from October 1, 2026New bulk deposit rules take effect from October 1, 2026RBI rulesBanks
Data● mixedRBI Bulletin: Credit-Deposit Ratio Exceeding 80% Does Not Indicate Funding VulnerabilityBank credit growth has outpaced aggregate deposits, pushing the credit-deposit ratio above 80% since FY23Credit growthBanks
Data● mixedEconomy resilient with downside risks from West Asia conflict: RBI bulletinMiddle EastGeopoliticsGlobal markets
Data● mixedRBI says resilient domestic economy cushions India against rising global risksThe RBI cited record forex reserves and a five-year high in net FDIEconomic growthForex reservesFDI
Data▲ bullishIndia’s private capex estimated at ₹3.2 lakh crore in 2026-27: RBIRBI estimates private capex at ₹3.2 lakh crore in 2026-27Economic growthInfrastructureBanks
Data● mixedBank deposit growth level in August hits highest in 15 years, leading to CD ratio moderation: RBI BulletinBanksCredit growthBanking liquidity
Data● mixedRupee gains on FCNR(B) deposits reverse amid crude price spike: RBI reportBanks mobilised $133 billion in FCNR(B) deposits after the RBI opened a concessional swap window in JuneRupeeBanksBanking liquidity
Data● mixedRBI Bulletin – September 2026RBI released its September 2026 monthly Bulletin, containing seven speeches, three articles and current statisticsBanksEconomic growthRepo rate
Policy● mixedRBI cuts exporters’ earnings repatriation deadline to nine monthsRBI reversed its earlier allowance for exporters to repatriate earnings within 15 monthsRBI rulesBanksTrade and tariffs
Policy● mixedRBI fixes H2 Ways and Means Advances limit for government at Rs 50,000 crRBI set the government's H2 2026-27 Ways and Means Advances limit at ₹50,000 croreRBI rulesBanks
Data▼ bearishIndia’s forex reserves fall $14.88 billion to $765.90 billionReserves fell $14.881 billion to $765.901 billion in the week ended September 18Forex reservesRupeeGold
Data● mixedReserve Bank of India – Bulletin Weekly Statistical Supplement – ExtractRBI weekly statistical supplement reports liabilities and assets in ₹ croreBanks
Data● mixedMoney Supply for the fortnight ended on September 15, 2026RBI released money-supply data for the fortnight ended September 15, 2026Banking liquidityBanks
Market move● mixedRupee gains 15 paise to 96.81 against dollar, likely helped by RBI interventionThe headline says the rupee gained 15 paise to 95.81 against the dollarRupeeUS dollarGlobal markets
Market move● mixedExplained: What really drives the rupee? Decoding the forces behind currency movesRupee’s four-year decline reflects fundamentals, RBI intervention and market sentimentRupeeBank of BarodaGlobal markets
Market move● mixedRupee firms after RBI intervention as one-year forward yield reaches 3.50%Rupee ended at 95.81/$ after RBI intervention, easing oil prices and a softer dollarRupeeCrude oilUS dollar
Market move● mixedMPC Poll | RBI seen raising rates by 25 bps, tracking Fed moveRepo rateUS FedInflation
Policy● mixedIndia's banking journey with technology has been one of considerable success, says RBI Deuty GovernorBanks
Broker call▼ bearishNomura’s Subbaraman sees higher interest rates as the new normal, expects 2 more RBI hikes this yearNomura’s Robert Subbaraman expects RBI rate hikes in October and DecemberRepo rateInflationCPI inflation
Legal● mixedTata Sons battle: Abhishek Manu Singhvi vs Harish Salve. Who said whatAbhishek Manu Singhvi and Harish Salve held divergent views on Tata Sons’ regulatory path to becoming publicTata SonsTata GroupTCS
Data● mixedResult of the 3-day Variable Rate Reverse Repo (VRRR) auction held on September 25, 2026RBI accepted ₹90,280 crore in its 3-day VRRR auction against ₹1,50,000 crore notifiedBanking liquidityRepo rateBond auctions
Policy● mixedResult of Underwriting Auction conducted on September 25, 2026RBI conducted an additional competitive underwriting auction for a government security on September 25, 2026Bond auctions
Market move● mixedRupee near 96 per dollar: What is driving the currency move todayRupee opened at 95.90 per US dollar, gaining 6 paiseRupeeUS dollarGlobal markets
Market move● mixedRBI likely intervenes to support rupee as it trades near 95.88 per dollarRupee rose to 95.88 per dollar, paring its decline from 95.97 in early dealsRupeeUS dollarBanks
Market move● mixedRupee treads water; forward premiums extend rally on RBI swaps, stop-lossesRupeeBanking liquidityGlobal markets
Policy● mixedBanks to deploy excess liquidity over next few months: RBI DGBanking liquidityBanksCredit growth
Market move● mixedIndia’s external pressures persist despite forex swap inflows, says NageswaranChief Economic Adviser V Anantha Nageswaran said balance-of-payments pressures persist despite increased foreign capital inflowsV Anantha NageswaranRupeeForex reserves
Data▼ bearishCredit card spending falls 2.8% to ₹2.02 lakh crore in AugustAugust credit card spending fell 2.8% from July’s ₹2.08 lakh crore to ₹2.02 lakh croreCredit growth
Leadership● mixedOptimo Capital appoints former RBI CGM as an independent directorOptimo Capital appointed former RBI Chief General Manager Shrimohan Yadav as an independent directorNBFCsBengaluruNitin Gadkari
▼ bearishIndia’s 7% growth run faces capital, investment and judicial hurdlesRBI MPC member Saugata Bhattacharya says India cannot rely on growth or interest-rate differentials to attract foreign capitalEconomic growthGDPGlobal markets
Policy● mixedRBI to conduct 3-day Variable Rate Reverse Repo (VRRR) auction under LAF on September 25, 2026RBI will conduct a three-day VRRR auction on September 25, 2026Banking liquidityRepo rateBond auctions
Policy▲ bullishBanks may deploy FCNR(B) liquidity as festive-season credit demand risesBanks are expected to deploy additional FCNR(B) liquidity in the coming monthsBanking liquidityFestive seasonCredit growth
● mixedSafety most important in managing forex reserves says RBI Deputy Governor Rohit JainRBI Deputy Governor Rohit Jain said safety is the highest priority for forex reservesForex reservesRupeeDinesh Pant
Legal● mixedRBI imposes monetary penalty on KLM Axiva Finvest LimitedRBI imposed a monetary penalty of ₹2.70 lakh on KLM Axiva Finvest LimitedRBI rulesBanks