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The size of <keyword id="102024" type="General" weightage="20" keywordseo="the-reserve-bank-of-india" source="Orion">the Reserve Bank of India</keyword>'s (<keyword id="30067" type="General" weightage="20" keywordseo="rbi" source="Orion">RBI</keyword>) balance sheet increased by 8.46 per cent as on March 31, 2022, mainly reflecting its liquidity and foreign exchange operations during the entire fiscal year. While income for the year increased by 20.14 per cent, expenditure increased by 280.13 per cent, according to the RBI's Annual Report for 2021-22 released on Friday. The increase on the asset side was due to increase in foreign investments, domestic investments, gold, and loans and advances and on the liability side due to the increase in deposits and notes by it. FY22 was the first full year of the April-March accounting cycle after transition from July-June. It shifted to a new accounting year in FY21 which was for nine months ended March 2021. The year 2021-22 ended with an overall surplus of Rs 30,307.45 crore as against Rs 99,122 crore in the previous year, resulting in its decrease of 69.42 per cent, the report cited. Earlier this month, the RBI said its Board approved the transfer of Rs 30,307 crore surplus as dividend to the Centre for the accounting year FY22, besides deciding to maintain the contingency risk buffer at 5.50 per cent. As per a framework, the RBI has to maintain a contingency risk buffer of 5.5-6.5 per cent of its balance sheet. Further, the report said the supply of notes during the year 2021-22 was at 222,505 lakh pieces, 0.36 per cent lower than that of the year 2020-21. The expenditure incurred on printing of bank notes increased from Rs 4,012.09 crore in 2020-21 to Rs 4,984.80 crore in 2021-22. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/environment/news/why-assam-gets-flooded-every-year/articleshow/91828506.cms">Explained: Why Assam gets flooded every year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/gautam-adani-a-story-on-how-to-generate-wealth-via-hope-fomo-and-of-course-debt/articleshow/91829090.cms">Understanding Gautam Adani’s rise: a story on how to generate wealth via hope, equity and of course debt</a>

RBI's income grew 20% while expenses shot up by 280% in FY22

Mumbai, May 28 () The Reserve Bank on Thursday said it has imposed a penalty of Rs 5 crore on state-owned Bank of India for non-compliance with certain provisions, including those related with NPA. The central bank also imposed a penalty of Rs 1.2 crore on Karnataka Bank for non-compliance with NPA norms. In a statement, RBI said it has imposed a monetary penalty of Rs 5 crore on Bank of India (BoI) for non-compliance with "certain provisions of the directions issued by RBI on 'Income Recognition, Asset Classification and Provisioning pertaining to Advances - Divergence in NPA accounts', 'Opening of current accounts by banks – Need for discipline', and 'Classification and reporting of frauds'". Giving details, it said the statutory inspection of BoI with reference to its financial position as on March 31, 2017 and March 2018 and the risk assessment reports pertaining thereto revealed, inter-alia, non-compliance with the certain directions. A notice was issued to the bank in this regard. After considering the bank's reply to the notice, oral submissions made during the personal hearing and examination of additional submissions, RBI concluded that the charges of non-compliance with RBI directions warranted imposition of monetary penalty. The penalty on Karnataka Bank has been imposed for non-compliance with certain provisions of directions on 'Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances - Divergence in NPA Accounts' and 'Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances'. RBI also imposed a penalty of Rs 30 lakh on Saraswat Co-operative Bank for non-compliance with directions on 'Income Recognition and Asset Classification (IRAC) norms.' In all three cases, action is based on the deficiencies in regulatory compliance, and is not intended to pronounce upon the validity of any transaction or agreement entered into by them with customers, RBI said. NKD RVK

RBI imposes penalty on Bank of India, Karnataka Bank

In what may sound as music to your ears, the Reserve Bank of India (<keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword>) Governor <keyword id="6358908" type="PERSON" weightage="20" keywordseo="Raghuram-Rajan">Raghuram Rajan</keyword> has called for increasing the tax exemption limit on investments. Presently, the limit on tax exemption is Rs 1.5 lakh per year. 
 
“Remember, the government increased the limit for tax benefit in savings by Rs 50,000 in the last Budget. The question is — is there room for more, primarily because the real tax benefit has fallen over time because the limit was at Rs 1 lakh for a long time? Maybe, what we have to do is increase that,” said Rajan. 
 Referring to <keyword id="22195" type="COMPANY" weightage="20" keywordseo="Inflation">inflation</keyword>, the RBI governor said, “It is actually easier for us since we are not fighting inflation in an environment where inflation is picking up elsewhere.” Notably, inflation has come down globally. 
 
It is pertinent to mention here that the rate of savings in the country has declined to 30% from a high of 36.9% in FY 2007-08. 
 
Rajan also said that the RBI would prefer fiscal consolidation and a check on mis-targeted subsidies. "A movement of spending from mis-targeted or poorly targeted subsidies towards more capital investment would be a good move," he said. However, he further clarified that the RBI does not oppose subsidies and there are certain weaker sections of the society, which deserve these subsidies.

RBI governor bats for raising income tax exemption limit

New Delhi, Nov 18 () Finance Minister Nirmala Sitharaman on Monday said transfer of surplus reserves from the Reserve Bank of India (RBI) to the government in future will depend on net income and other financial parameters of the central bank besides the recommendations of the expert committee on excess capital.
 The surplus distribution policy of RBI is determined in accordance with section 47 of the RBI Act, 1934, Sitharaman said in a written reply to Lok Sabha.
 "The quantum of surplus transfer to the government in the coming years would depend on RBI's net income, 'required realized equity' as a per cent of RBI's balance sheet and 'available realized equity' as a per cent of RBI's balance sheet in the coming years, and shall be governed by the legal provisions of the RBI Act, 1934 read with the recommendations of the committee as accepted by RBI," Sitharaman said.
 The central board of the RBI, in its meeting in November 2018, in consultation with the government had decided to constitute an expert committee under the chairmanship of former RBI governor Bimal Jalan to suggest an adequate level of risk provisioning that RBI needs to maintain.
 The committee, formed on December 26, 2018, was tasked to propose a suitable surplus distribution policy taking into account all the likely situations of the RBI.
 The finance minister was replying to a question asked by Gopal Chinnaya Shetty if the issue of surplus reserves of RBI was resolved as per the suggestions of the Jalan committee and whether in future the government was likely to get additional dividend from RBI as per the recommendations of the said committee.
 The Bimal Jalan expert committee had submitted its report to RBI on August 14, 2019.
 The central board of RBI, in its meeting on August 26, 2019, had accepted all the recommendations of the committee and finalised RBI's accounts for 2018-19 using the revised framework to determine risk provisioning and surplus transfer.
 "The transfer of surplus to the government for the year 2018-19, ended June 30, 2019 was made in accordance with the recommendations of the committee and accordingly a sum of Rs 1,75,987 crore was transferred by RBI to the government," the minister said in the lower house.
 The transfer of reserves comprised Rs 1,23,350 crore of surplus for 2018-19, of which Rs 28,000 crore was already paid as interim dividend on March 28, 2019, and Rs 52,637 crore of excess provisions identified as per the revised Economic Capital Framework (ECF), Sitharaman said. KPM RVK

Transfer of surplus money from RBI in future to depend on income, expert panel suggestions: FM

<ul><li>The consumer confidence on key measures — income, employment — touched 85.7 in November, as per the latest Consumer Confidence survey by Reserve Bank of India (<keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword>). </li><li>Its index of future expectations fell to 114.5 from 118 in November. </li><li>In a surprising move, the Reserve Bank of India has kept the interest rates unchanged after five consecutive rate cuts this year.</li></ul>As slowdown is eating into jobs and affecting incomes-- Indian households are losing confidence. According to Reserve Bank of India (RBI), <keyword id="851221" type="PERSON" weightage="20" keywordseo="Consumer-Confidence-Index">consumer confidence index</keyword> which measures — income and employment — dipped to a new low of 85.7 in November. This is after it has already hit a six year low in September to 89.4. Its had declined in October too-- and has been dropping every month. And they have a lot to worry about with job cuts across sectors. The unemployment rate in October stood at 8.5% — the worst in three years. Those who have jobs too are worried that they might not be able to hold on to it. The perception of employment shows a downward projection at 33.1 in November. In September, the perception of income turned negative for the first time since March 2018. “Consumers’ sentiments on the general economic situation and the employment scenario weakened, but their one-year ahead expectations remained in the optimistic terrain for all parameters, except prices; expectations on income one-year ahead improved marginally over the previous survey round,” said the <a href="http://www.financialexpress.com/tag/rbi/">RBI</a> survey. Apparently, the consumers can not pull back from spending. But the sentiment has deteriorated. “Most respondents perceived prices as having increased during the last one year, and they expect a further rise in prices in the year ahead; households’ sentiments on overall spending remained resilient,” it added. The central bank analysed respondents from over 5,300 households across 13 cities including Delhi and Mumbai. The survey asked the country’s perception and anticipation on the economy, employment, income and expenditure. In a surprising move, the Reserve Bank of India has kept the interest rates unchanged after five consecutive rate cuts this year. "The upsurge in prices of vegetables is likely to continue in immediate months; however, a pick-up in arrivals from the late kharif season along with measures taken by the Government to augment supply through imports should help soften vegetables prices by early February 2020," the MPC statement said. See also: <a href="https://www.businessinsider.in/careers/news/indians-are-unhappy-with-their-pay-but-satisfied-with-their-jobs/articleshow/72055840.cms">Indians are unhappy with their pay but satisfied with their jobs </a> <a href="https://www.businessinsider.in/policy/economy/news/rbi-keeps-the-interest-rates-unchanged/articleshow/72378620.cms">Food inflation will be very high from January to March 2020, warns RBI governor as he keeps interest rates unchanged</a>

Indians are not confident of holding on to their jobs — and rising prices are not helping

Mumbai, Apr 30 () The Reserve Bank of India on Thursday extended regulatory benefits to all banks including those deploying their own resources to extend liquidity support to the mutual funds under the Special Liquidity Facility for Mutual Funds (SLF-MF) scheme. Earlier in the week, the Reserve Bank had announced Rs 50,000-crore SLF-MF scheme to bailout the mutual funds facing redemption pressure. The scheme was announced in the backdrop of Franklin Templeton Mutual Fund deciding to shut several schemes. "Based on requests received from banks, it has now been decided that the regulatory benefits announced under the SLF-MF scheme will be extended to all banks, irrespective of whether they avail funding from the Reserve Bank or deploy their own resources under the ...scheme," Reserve Bank of India said in a release. The RBI further said banks meeting the liquidity requirements of MFs by extending loans and undertaking outright purchase of and/or repos against the collateral of investment grade corporate bonds, commercial paper (CPs), debentures and certificates of deposit (CDs) held by MFs, will be eligible to claim all the regulatory benefits available under the scheme. The banks claiming the regulatory benefits would be required to submit a weekly statement containing consolidated information on entity-wise and instrument-wise loans and advances extended or investment made to eligible entities to Financial Markets Operations Department and to Department of Supervision on every Monday till the closure of the scheme, the RBI said. The Rs 50,000 crore liquidity window came days after, the Franklin Templeton Mutual Fund, which has been operating in India for 25 years, decided to shut down Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund, Franklin India Credit Risk Fund, Franklin India Short Term Income Plan, Franklin India Ultra Short Bond Fund and Franklin India Income Opportunities Fund. Last time, RBI had opened a special borrowing window of Rs 25,000 crore for banks to help meet the cash requirements of mutual funds in July 2013. Post the collapse of Lehman Brothers, RBI, in October, 2008, had provided a similar additional liquidity support exclusively for mutual fund industry. The central bank also stressed it remains vigilant and will take whatever steps are necessary to mitigate the economic impact of COVID-19 and preserve financial stability. Under the Special Liquidity Facility for Mutual Funds (SLF-MF), the RBI will conduct repo operations of 90 days tenor at the fixed repo rate. NKD CS DRRDRR

RBI extends regulatory benefits under SLF-MF scheme to all banks

New Delhi, Apr 27 () Banks have done "sweet nothing" to provide financing to retailers to tide over the lockdown crisis, and the government intervention is needed to avoid mass unemployment in the sector, according to RAI.The retail industry body claimed that despite the Reserve Bank of India (RBI) circulars to banks to lend support to businesses, on the ground retailers are finding it difficult to access funds from banks for various reasons."The banks are not giving any kind of finance to retailers although RBI has stepped in. It is not happening on the ground. Banks have done sweet nothing in this whole situation to help retailers in this country," Retailers Association of India (RAI) CEO Kumar Rajagopalan told .He claimed that the RBI circulars have been "set aside for want of various things, including new business plans" as a result of that retailers are unable to get financing from banks which would have been otherwise used for "paying salaries" and other fixed costs as they have zero income at present.Seeking the Centre's intervention, Rajagopalan said, "We want clarifications from the government on this because there is serious issue of shops shutting down and a big amount of unemployment happening. There is zero income for retailers".Stressing that all industries are dependent on retail for sales, he said, "If retail does not work, production is of no use. We want that clarification to come. We want the Centre to support us on that part".When asked about job losses in the retail sector, Rajagolapan said, "Retailers themselves have become unemployed, and now they cannot be paying any salaries. They don't have any money".As part of measures to support the economy hit hard by a coronavirus-led slowdown, earlier this month the RBI had announced slew of measures including asking banks to lend more by cutting the reverse repo rate by 25 basis points, easing of bad-loan rules and three month moratorium for payment of all instalments falling due between March 1, 2020 and May 31, 2020 although interest would continue to accrue on the outstanding portion of the term loans during the moratorium. RKL BAL

You Searched For "rbi income" and got 7 results

RBI's income grew 20% while expenses shot up by 280% in FY22

IANS

RBI imposes penalty on Bank of India, Karnataka Bank

PTI

RBI governor bats for raising income tax exemption limit

BI India Bureau

Transfer of surplus money from RBI in future to depend on income, expert panel suggestions: FM

PTI

Indians are not confident of holding on to their jobs — and rising prices are not helping

Prerna Sindwani

RBI extends regulatory benefits under SLF-MF scheme to all banks

PTI

Banks have done nothing to help retailers, says RAI

PTI

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