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"What is evident is that our efforts have fallen short of what the regulator expects. My commitment is to further accelerate our efforts and investments. Winning back the trust and reputation with our customers and regulators is number one priority for me and management,” Vaswani said after a board meeting to discuss March quarter earnings.
The RBI has kept the rupee in a narrow range against the dollar and is only down about 0.3% this year unlike most of its Asian peers which have weakened a lot more.
The Reserve Bank of India (RBI) said in its currency update on Thursday that 97.76 per cent of the Rs 2,000 banknotes in circulation as on May 19, 2023, when their withdrawal was announced, have now been returned.
Atanu Chakraborty has been reappointed as the part-time chairman of HDFC Bank by the Reserve Bank of India for a three-year term from May 5, 2024, to May 4, 2027. With a 35-year tenure in the Indian Administrative Service (IAS) in the Gujarat cadre, Chakraborty has extensive experience in finance, economic policy, infrastructure, and petroleum and natural gas sectors. He held key positions in the Union Government, including Secretary in the Ministry of Finance-Department of Economic Affairs, where he oversaw economic policy-making and budget formulation.
Indias central bank has conveyed in no uncertain terms that it will closely scrutinise what it reckons is a trigger for exchange rate fluctuation – derivates trading.