RBI financial inclusion index hits 67 in Mar-25 compared to 64.2 in Mar-24
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Time of India
an hour ago
- Time of India
Net FDI inflows fell 98% in May as repatriation increased 24%: RBI Bulletin
Mumbai: Net foreign direct investment (FDI) into India fell 98% year-on-year to $35 million in May amid higher repatriation by overseas investors and a fall in gross inflows, latest central bank data published in its monthly Bulletin showed. Net FDI was 99% lower compared with April. Gross inflows fell 11% YoY to $7.2 billion in May, while repatriation of FDI increased nearly 24% to $5 billion. Outward FDI increased to $2.1 billion from $1.8 billion a year ago. Explore courses from Top Institutes in Please select course: Select a Course Category Technology Healthcare Others CXO Degree others Management Product Management Data Science Operations Management healthcare MCA Design Thinking Project Management Public Policy Cybersecurity Data Science Artificial Intelligence Digital Marketing Data Analytics MBA Leadership PGDM Finance Skills you'll gain: Duration: 12 Weeks MIT xPRO CERT-MIT XPRO Building AI Prod India Starts on undefined Get Details The Reserve Bank of India (RBI) said that Singapore, Mauritius, the UAE and the US together accounted for more than three-fourths of the total FDI inflows in May 2025. Manufacturing, financial and computer services were the top recipient sectors. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like How Smart Are You Really? This Test Will Surprise You Try Now Undo On the other hand, top sectors for outward FDI included transport, storage and communication services, manufacturing, and financial, insurance and business services. Major destinations for outward FDI included Mauritius, the US and the UAE. In May, net portfolio investments stood at $1.6 billion. This compares with net portfolio outflows in the year and month-ago periods. Live Events According to experts, FDI inflows are perceived to be a more stable source for India's foreign exchange reserves compared to portfolio flows. Currently, India's FX reserves stood at $696.7 billion. At the current level, FX reserves provides cover for more than 11 months of goods imports and for 95% of the external debt outstanding at the end of March 2025.
Time of India
an hour ago
- Time of India
Banks rush for VRR amid call rate spike
Mumbai: The central bank's variable rate repo (VRR) auction for ₹50,000 crore was oversubscribed on Wednesday, as banks rushed to borrow at the central bank window amid a spike in overnight money market rates above the policy repo rate for the second day in row. The Reserve Bank of India aims to keep the weighted average call rate (WACR) around the policy repo rate, which currently stands at 5.50%. Explore courses from Top Institutes in Please select course: Select a Course Category Finance Others others Degree Project Management Public Policy Data Science healthcare Management Healthcare CXO MBA Leadership MCA Data Science Product Management Technology Cybersecurity Artificial Intelligence Design Thinking PGDM Operations Management Data Analytics Digital Marketing Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Fintech & Blockchain India Starts on undefined Get Details Skills you'll gain: Duration: 9 Months IIM Calcutta SEPO - IIMC CFO India Starts on undefined Get Details WACR, which acts as the operative rate for monetary policy transmission, closed above the policy repo rate for the first time in this fiscal at 5.62% on Tuesday. It rose further and closed at 5.73% on Wednesday. Meanwhile, the weighted average TREPS (tri-party repo dealing system) rate closed at 5.72% on Wednesday, marginally higher compared with the previous day's 5.69%, CCIL data showed. The weighted average rate at the two-day VRR auction was 5.58%. Overnight rates had increased because of the narrowing in liquidity surplus following the GST outflows over the weekend and Friday's variable rate reverse repo rate auction, where banks parked ₹2 lakh crore with the RBI. Liquidity surplus in the banking system currently stands at ₹2.4 lakh crore, close to the RBI's target of 1% of NDTL. "The spike in rates is because the assessment of daily requirements by the (bank treasury) dealing rooms had gone haywire due to sudden outflows," said Alok Singh, head of treasury, CSB Bank . "Dealers likely thought that once they put funds in VRRR, they would be able to cover any requirement in the market below that rate, but because tax outflows may have happened from some banks, they found a deficit in the overnight cash. So, then they had to borrow funds at whatever rate it was available, hence the spike," Singh said. Following the spike in call rates, banks also borrowed funds from the RBIs marginal standing facility (MSF) for ₹13,273 crore on Tuesday, highest since May 1 this year, RBI data showed. After the liquidity infusion via variable rate repo (VRR) auction, overnight rates softened slightly, but they were still above the standing deposit facility (SDF) rate. In June, overnight rates were below or at par with SDF rate. Liquidity adjustment facility or LAF corridor has the marginal standing facility (MSF) rate, currently at 5.75%, as its upper bound (ceiling) and the SDF rate, currently at 5.25%, as the lower bound (floor), with the policy repo rate in the middle of the corridor.
New Indian Express
an hour ago
- New Indian Express
Government takes measures to enhance representation of south Indian language channels on DD Free Dish
NEW DELHI: With the viewership of Prasar Bharti's Direct-To-Home (DTH) service—Doordarshan (DD) Free Dish growing manifolds every year, the government has been taking various proactive measures to increase the representation of south Indian language channels on the platform. For better regional representation, slots were reserved for south Indian language channels in the e-auctions of DD Free Dish earlier this year. Eligibility norms have also been simplified to ensure greater participation from private broadcasters in the southern region. The DTH service has seen consistent growth in its reach over the past few years and as per industry estimates of 2024; it reaches approximately 49 million households. It was 33 million in 2018, signifying the positive audience growth. While responding to questions on measures taken by the Government to encourage south Indian language channels to secure slots on DD Free Dish and the results achieved, the Minister of State for Information and Broadcasting L Murugan, on Wednesday, informed Lok Sabha that DD's regional channels such as DD Tamil, DD Saptagiri, DD Chandana, DD Yadagiri, and DD Malayalam have also been onboarded and they are being technologically upgraded and better promoted to enhance their visibility.
