India
RBI paper finds high market power can undermine bank stability
Author documents “inverse U-shaped” relationship, suggesting only some mergers are desirable
Governor salaries range as high as $1 million
Base pay tends to rise with GDP per capita, but there is wide variation, benchmark data shows
Digital money and central banks
Central banks must reflect on the monetary policy, regulatory and financial stability implications from crypto assets, stablecoins and CBDCs to stay relevant in the digital age of money
RBI deputy makes case for crypto asset ban
Left alone, crypto products could “wreck the currency system”, says T Rabi Sankar
Indian government directs RBI to issue CBDC
Central bank told to prepare to issue the digital currency in 2022 and 2023
RBI’s Patra highlights value of bold crisis communications
Central bank usually avoids the “glare of the limelight” but Covid demanded rethink, says Michael Patra
People: Brazil’s Campos Neto comes down with Covid
Acting governor in Lesotho; Auer to head Eurosystem Innovation Hub; and more
RBI launches offline digital payments
Indian central bank hopes scheme will promote digital payments in remote areas
RBI flags ‘emerging signs of stress’ in small firms
Stress tests indicate rise in Indian non-performing assets likely in coming months
RBI launches action plan to tackle weak non-banks
“Prompt corrective action” framework echoes rules in place for banks
House prices rising at fastest rate since global crisis – BIS stats
Advanced economies see sharpest average increase, but India records largest cumulative rise
Transactional cash usage ebbs and flows in response to Covid-19
The proportion of payments made in cash ranged from 3% to 88%
Currency managers fighting counterfeits with new security features
Availability of sophisticated printers see counterfeits continue to rise
Indian government reappoints Das as governor
Das gets new three-year term, as economy rebounds from Covid shock
Microfinance still key to inclusion despite flaws – RBI deputy
Excessive debt and “coercive recovery practices” demand reform, says Rajeshwar Rao
RBI steps up work on climate change
Sustainable Finance Group will “spearhead” climate-related supervision and regulation
MAS and RBI to link up payment systems
New linkage will allow for automation of capital controls, say authorities
People: Riksbank deputy’s term extended until 2027
Bank of Ghana gets new non-executive board members; RBI appoints new executive director; and more
RBI launches financial inclusion index
Metric based on 97 indicators designed to assess access, usage and quality of financial services
Real-time payment systems for the real world
ACI Worldwide has joined forces with Mastercard to create a unique partnership capable of leading the world towards advancing the on-demand economy through payment system modernisation.
RBI promises policy support ‘as long as necessary’ despite inflation surge
Inflation breaches tolerance band but governor says economy now “in a much better position”
BIS ‘Project Nexus’ targets 60-second cross-border payments
Project seeks to link up existing fast payment systems, but several hurdles remain
RBI could launch CBDC pilots in ‘near future’ – deputy governor
Central bank is still researching underlying technology and design features, says T Rabi Sankar
The ‘golden age’ of central banking has passed
Central banks face multi-faceted challenges and weakened autonomy amid highly polarised inflation expectations