RBI News & Analysis
2 articles
Market Mood
HDFC Bank Shares Fall Nearly 12% Following Chairman Resignation
HDFC Bank is reviewing the resignation of former part-time chairman Atanu Chakraborty, who stepped down earlier this month citing ethical concerns. The resignation letter has been sent for assessment to two international law firms, which the bank expects to complete within a reasonable timeframe. The Reserve Bank of India has appointed Keki Mistry as interim non-executive chairman for three months. Following the announcement of Chakraborty's exit, HDFC Bank shares declined by approximately 12%. The bank's management has committed to addressing shortcomings and reinforcing controls against misconduct.
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RBI Discusses Cross-Border CBDC Framework with 4-5 Countries
The Reserve Bank of India (RBI) is in discussions with 4-5 countries to develop cross-border transaction frameworks for central bank digital currencies (CBDCs) covering both wholesale and retail uses. In 2025-26, Indians abroad remitted over $107 billion, highlighting the importance of affordable and faster transfers. The RBI has piloted wholesale CBDC since November 2022 and retail since December 2022, with retail transactions exceeding 120 million and around 8 million users currently engaged. A formal agreement among BRICS members for CBDC linkage has also been proposed to simplify cross-border payments.
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