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Monetary policy has to be forward looking, says RBI Governor Reserve Bank of India (RBI) Governor Shaktikanta Das on Tuesday said that the monetary policy has to be forward looking, "as a rear view approach can lead to accidents". Das, who gave the analogy of car driving while delivering the Delhi School of Economics Diamond Jubilee Distinguished lecture, said that the conduct of monetary policy is like driving a car on the road with potential ditches and speed bumps. "As monetary policy works with long and variable lags, the forec...
Monetary policy has to be forward looking, says RBI Governor
Monetary policy has to be forward looking, says RBI Governor
Source: IANS
5/09/2023 7:57:33 PM
Congratulations RBI Governor Shri Shaktikanta Das for being rated ``A+`` in the Global Finance Central Banker Report Cards 2023. Shri Das has been placed at the top of the list of three central bank governors who have been rated A+.
Congratulations RBI Governor Shri Shaktikanta Das for being rated ``A+`` in the Global Finance Central Banker Report Cards 2023.
Congratulations RBI Governor Shri Shaktikanta Das for being rated ``A+`` in the Global Finance Central Banker Report Cards 2023.
Source: Investmentguruindia
2/09/2023 9:45:20 AM
PM Narendra Modi congratulates RBI Governor for receiving A+ rating in Global Finance Central Banker Report Cards 2023   Prime Minister Narendra Modi on Friday congratulated RBI Governor Shaktikanta Das for being rated A+ in the Global Finance Central Banker Report Cards 2023. "Congratulations to RBI Governor Shri Shaktikanta Das. This is a proud moment for India, reflecting our financial leadership on the global stage. His dedication and vision continue to strengthen our nation's growth trajectory," Modi said in a tweet on X. He was responding to a tweet by RBI, which read, "...
PM Narendra Modi congratulates RBI Governor for receiving A+ rating in Global Finance Central Banker Report Cards 2023
PM Narendra Modi congratulates RBI Governor for receiving A+ rating in Global Finance Central Banker Report Cards 2023
Source: IANS
2/09/2023 8:57:36 AM
Financial Stability and Development Council resolves to remain vigilant against fiscal vulnerabilities RBI Governor Shaktikanta Das on Monday chaired the meeting of the sub-committee of the Financial Stability and Development Council (FSDC), which reviewed the major global and domestic macroeconomic and financial developments. It resolved to remain vigilant against any build-up in vulnerabilities in all segments of the Indian financial system as well as in the broader economy. It also focussed on preserving the financial system stability for attaining strong, sustainable and inclusive gr...
Financial Stability and Development Council resolves to remain vigilant against fiscal vulnerabilities
Financial Stability and Development Council resolves to remain vigilant against fiscal vulnerabilities
Source: IANS
29/08/2023 9:29:52 AM
NBFCs, HFCs need to remain alert to avoid any complacency during good times: Shaktikanta Das Praising the Non-Banking Financial Companies (NBFCs) and Housing Finance Companies (HFCs) for their improved financial health and operational resilience in recent years, the Reserve Bank of India (RBI) Governor Shaktikanta Das has acknowledged the important role played by the sector in delivering credit to the unbanked and underserved areas. Shaktikanta Das further advised that the NBFCs and HFCs need to remain alert to avoid any complacency during good times. The Governor highlighted the ...
NBFCs, HFCs need to remain alert to avoid any complacency during good times: Shaktikanta Das
NBFCs, HFCs need to remain alert to avoid any complacency during good times: Shaktikanta Das
Source: Accord Fintech
28/08/2023 2:11:15 PM
RBI Governor underlines need for strengthening of governance standards Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday emphasised on strengthening governance standards. Addressing a meeting of managing directors and chiefs of select non-banking finance companies (NBFCs) and housing finance companies (HFCs), Das said that governance standards and assurance mechanisms such as compliance, risk management and internal audit should be made stronger, reads a statement issued by the RBI.  In the meeting, which was held in Mumbai, ways to conta...
RBI Governor underlines need for strengthening of governance standards
RBI Governor underlines need for strengthening of governance standards
Source: IANS
26/08/2023 9:14:26 AM
India MPC to closely monitor food price spike to gauge inflation impact India's monetary policy committee (MPC) will closely monitor the factors impacting inflation and take necessary action, although it expects the recent spike in food prices to be short-lived, minutes of the latest MPC meeting showed. "While the vegetable price shocks are expected to correct quickly with the arrival of fresh crops, there are risks to food and the overall inflation outlook from El Nino conditions, volatile global food prices and skewed monsoon distribution - all of w...
India MPC to closely monitor food price spike to gauge inflation impact
India MPC to closely monitor food price spike to gauge inflation impact
Source: Reuters
24/08/2023 6:16:18 PM
Vegetable prices in India to decline from September, says Central Bank chief Vegetable prices in India have begun to soften and are likely to decline from September, Reserve Bank of India (RBI) Governor Shaktikanta Das said in a speech on Wednesday. Spiralling prices of vegetables and cereals have led retail inflation in July to surge 7.44%, its highest in 15 months. "We expect to see an appreciable slowdown in vegetable inflation from September," Das said. The outlook for cereal prices looks bright even though geopolitical tensions could hamper foo...
Vegetable prices in India to decline from September, says Central Bank chief
Vegetable prices in India to decline from September, says Central Bank chief
Source: Reuters
24/08/2023 9:57:33 AM
PHDCCI submits recommendations related to housing, banking, foreign trade to RBI The PHD Chamber of Commerce and Industry (PHDCCI) has submitted several recommendations on issues related to the housing sector, banking and foreign trade to RBI Governor Shaktikanta Das. Amidst global economic challenges and ongoing pandemic impact, it made a strong case for lowering housing sector interest rates to stimulate growth. It said lower rates can invigorate investments, bolster consumption, enhance competitiveness, and aid industries facing headwinds. The chamber highlighted se...
PHDCCI submits recommendations related to housing, banking, foreign trade to RBI
PHDCCI submits recommendations related to housing, banking, foreign trade to RBI
Source: Accord Fintech
23/08/2023 11:29:58 AM
RBI launches website to help locate unclaimed deposits across multiple banks Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday launched a centralised web portal UDGAM (Unclaimed Deposits - Gateway to Access inforMation), which would make it easier for people to search for their unclaimed deposits across multiple banks at one place.  The launch of the web portal will aid users to identify their unclaimed deposits and accounts and enable them to either claim the deposit amount or make their deposit accounts operative at their respective banks, a s...
RBI launches website to help locate unclaimed deposits across multiple banks
RBI launches website to help locate unclaimed deposits across multiple banks
Source: IANS
18/08/2023 9:16:34 AM
RBI to launch frictionless credit flow platform on pilot basis on August 17  The Reserve Bank of India (RBI) will on August 17 launch a pilot project for a public tech platform, which will enable delivery of frictionless credit by facilitating seamless flow of required digital information to lenders.  The formation of the platform had been announced by RBI Governor Shaktikanta Das on August 10 during the monetary policy review. The public tech platform for frictionless credit is being developed by the Reserve Bank Innovation Hub (RBIH), a wholly-owned...
RBI to launch frictionless credit flow platform on pilot basis on August 17
RBI to launch frictionless credit flow platform on pilot basis on August 17
Source: IANS
14/08/2023 4:39:24 PM
RBI`s user friend technology focus on UPI in move towards cashless economy Conversational, offline and enhancement of limits for small transactions in the Unified Payments Interface (UPI) are some of the measures for payment systems that the Reserve Bank of India Governor Shaktikanta Das announced on Thursday. Amid announcement of the decisions of the three day meeting of Monetary Policy Committee (MPC), Das said to harness new technologies and enhance the digital payments experience it is proposed to enable "Conversational Payments" on UPI, which will ...
RBI`s user friend technology focus on UPI in move towards cashless economy
RBI`s user friend technology focus on UPI in move towards cashless economy
Source: IANS
10/08/2023 5:05:06 PM
India central bank to withdraw 1 trln rupees via incremental CRR The Reserve Bank of India (RBI) will withdraw nearly one trillion rupees ($12.07 billion) from the banking system through a temporary increase in the amount of funds lenders set aside with the central bank, as it tries to keep a lid on inflation. Earlier in the day, India's Monetary Policy Committee kept key policy rates unchanged but RBI Governor Shaktikanta Das asked banks to hold an incremental cash reserve ratio (CRR) of 10% on increase in deposits between May 19 and July 28, with ...
India central bank to withdraw 1 trln rupees via incremental CRR
India central bank to withdraw 1 trln rupees via incremental CRR
Source: Reuters
10/08/2023 3:47:58 PM
India`s RBI holds rates steady but eyes food price spike; signals tighter policy The Reserve Bank of India held its key lending rate steady on Thursday as expected but moved to reduce the amount of cash in banking system as inflation concerns resurfaced following higher-than-usual seasonal spikes in food prices in recent weeks. The monetary policy committee (MPC), which has three members from the central bank and three external members, kept the repo rate unchanged at 6.50% in an unanimous decision. It was the third consecutive time that the committee decided to mainta...
India`s RBI holds rates steady but eyes food price spike; signals tighter policy
India`s RBI holds rates steady but eyes food price spike; signals tighter policy
Source: Reuters
10/08/2023 2:22:14 PM
RBI sucks out over Rs 1 trillion liquidity, banks to be affected   The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) decision suck out over Rs one trillion from the system which will result in loss of income for the banks and hardening of the money market, said experts. Post this announcement, Bank Nifty slipped into weakness. The MPC at its meeting decided that all scheduled banks should maintain an incremental cash reserve ratio (I-CRR) of 10 per cent on the increase in their net demand and time liabilities (NDTL) betwee...
RBI sucks out over Rs 1 trillion liquidity, banks to be affected
RBI sucks out over Rs 1 trillion liquidity, banks to be affected
Source: IANS
10/08/2023 2:04:25 PM
New platform for end-to-end frictionless credit delivery on the anvil: RBI In an effort to deliver end-to-end frictionless credit on digital mode to underserved regions, the Reserve Bank Innovation Hub (RBIH) is developing a Public Tech Platform, said Reserve Bank of India's (RBI) Governor Shaktikanta Das. Announcing the decisions of the RBI’s Monetary Policy Committee (MPC) on Thursday, Das said the new platform will be rolled out in a calibrated manner. He said the central bank along with RBIH started a pilot project in September 2022 for frictionl...
New platform for end-to-end frictionless credit delivery on the anvil: RBI
New platform for end-to-end frictionless credit delivery on the anvil: RBI
Source: IANS
10/08/2023 12:58:28 PM
Lenders to communicate to borrowers on loan EMI reset: RBI Governor The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) has decided to bring in greater transparency in resetting of the interest rate on equated monthly instalments (EMI) for floating interest loans, Governor Shaktikanta Das said on Thursday. Announcing the decisions of the MPC, Das said: “It is proposed to put in place a transparent framework for reset of interest rates on floating interest loans. "The framework will require Regulated Entities to (i) clearly...
Lenders to communicate to borrowers on loan EMI reset: RBI Governor
Lenders to communicate to borrowers on loan EMI reset: RBI Governor
Source: IANS
10/08/2023 12:46:52 PM
NIrmala Sitharaman to chair G20 meet of finance ministers, central bank governors tomorrow Finance minister Nirmala Sitharaman on Sunday embarked on a visit to Gandhinagar to attend the third G20 Finance Ministers and Central Bank Governors (G20FMCBG) meetings, which is to be held under India's G20 presidency on July 17-18. On the sidelines of the G20FMCBG meetings, she will also participate in an Investor Dialogue Roundtable, a tax symposium, besides other bilateral engagements, including with Canada, Indonesia, US, European Commission and Asian Infrastructure Investment Ba...
NIrmala Sitharaman to chair G20 meet of finance ministers, central bank governors tomorrow
NIrmala Sitharaman to chair G20 meet of finance ministers, central bank governors tomorrow
Source: IANS
16/07/2023 2:17:33 PM
India, UAE ink MoUs to promote local currencies in cross-border trade With an aim to increase circulation of the rupee in the Gulf region, the Reserve Bank of India (RBI) has inked two memoranda of understandings (MoUs) with the Central Bank of UAE (CBUAE) in Abu Dhabi for establishing a Framework to Promote the Use of Local Currencies viz. the Indian rupee (INR) and the UAE Dirham (AED) for cross-border transactions; and cooperation for interlinking their payment and messaging systems. The two MoUs are aimed at facilitating seamless cross border transactions a...
India, UAE ink MoUs to promote local currencies in cross-border trade
India, UAE ink MoUs to promote local currencies in cross-border trade
Source: IANS
16/07/2023 9:03:17 AM
Union Finance Minister Nirmala Sitharaman, RBI Governor to co-chair G20 FMCBG meet in Gandhinagar Union Finance Minister Nirmala Sitharaman and Reserve Bank of India (RBI) Governor Shaktikanta Das will jointly chair a meeting of the G20 Finance Ministers and Central Bank Governors (FMCBG) on July 17-18 here, an official has said. These discussions are being held under India's presidency of the G20 which comprises 19 countries and the European Union.  The key gathering will witness the participation of 66 delegations from around the world, focusing on issues related to the g...
Union Finance Minister Nirmala Sitharaman, RBI Governor to co-chair G20 FMCBG meet in Gandhinagar
Union Finance Minister Nirmala Sitharaman, RBI Governor to co-chair G20 FMCBG meet in Gandhinagar
Source: IANS
14/07/2023 7:47:43 PM
Banks need to be extra careful, vigilant amid adverse global developments: RBI Governor Highlighting the good performance of the Indian banking system despite various adverse global developments, the Reserve Bank of India (RBI) Governor Shaktikanta Das has stressed that it is in times like these, banks need to be extra careful and vigilant. He also emphasized the need for MD & CEOs to pay special attention to strengthening the governance in the banks and focus on the tripod of banking stability consisting of compliance, risk management and audit functions.  The Gover...
Banks need to be extra careful, vigilant amid adverse global developments: RBI Governor
Banks need to be extra careful, vigilant amid adverse global developments: RBI Governor
Source: Accord Fintech
12/07/2023 1:26:03 PM
Indian lenders want central bank to conduct more overnight reverse repo auctions Several Indian banks said on Thursday the Reserve Bank of India (RBI) should continue with more overnight variable rate reverse repo auctions, despite its first such attempt seeing subscriptions of less than half the target amount of 1 trillion rupees. The RBI's overnight variable rate reverse repo, or VRRR - usually undertaken to withdraw excess liquidity - saw a subscription of only 390 billion rupees ($4.73 billion) earlier in the day. However, at least five banking officials sai...
Indian lenders want central bank to conduct more overnight reverse repo auctions
Indian lenders want central bank to conduct more overnight reverse repo auctions
Source: Reuters
6/07/2023 5:10:33 PM
Higher retail inflation has hit personal consumption expenditure: RBI bulletin The Reserve Bank of India (RBI) has said that higher retail inflation has impacted personal consumption expenditure. In its monthly bulletin for June 2023, released on Friday, it observed on the basis of national accounts data and corporate results, that rising retail inflation has slowed down personal consumption expenditure, which has resulted in scaling down of corporate sales and reduction in private investment towards capacity creation. Bringing down inflation and stabilising infla...
Higher retail inflation has hit personal consumption expenditure: RBI bulletin
Higher retail inflation has hit personal consumption expenditure: RBI bulletin
Source: IANS
24/06/2023 9:51:19 AM
Job of bringing back inflation within target band only half done: RBI Governor Reserve Bank of India (RBI) Governor Shaktikanta Das has said that bringing back inflation within the target band is like a job half done. He said ‘our fight against inflation is not yet over so we need to undertake forward-looking assessment of the evolving inflation-growth outlook and stand ready to act, if situation so warrants.’ It was for the second time in a row that the Monetary Policy Committee (MPC) headed by the Governor kept the short-term lending rate (repo) unchanged ...
Job of bringing back inflation within target band only half done: RBI Governor
Job of bringing back inflation within target band only half done: RBI Governor
Source: Accord Fintech
23/06/2023 11:22:43 AM
Disinflation process likely to be slow, protracted with convergence to inflation target: Shaktikanta Das The Reserve Bank of India (RBI) Governor Shaktikanta Das has said the disinflation process in India will be slow. He said ‘As per our current assessment, the disinflation process is likely to be slow and protracted with convergence to the inflation target of 4 per cent being achieved over the medium-term’. In remarks that came a day after official data suggested a cool-down in headline inflation to 4.25 per cent for May, Das said there have been signs of some softening in inflatio...
Disinflation process likely to be slow, protracted with convergence to inflation target: Shaktikanta Das
Disinflation process likely to be slow, protracted with convergence to inflation target: Shaktikanta Das
Source: Accord Fintech
14/06/2023 11:16:02 AM
India will be among fastest growing economies in 2023: RBI Governor Reserve Bank of India (RBI) Governor Shaktikanta Das on Tuesday expressed confidence that India will be among fastest growing economies in the world in 2023 which would grow at the rate of 6.5 per cent in the current fiscal. "We expect real GDP to grow by 6.5 per cent during 2023-24. In all likelihood, India will remain among the fastest growing large economies in 2023," the RBI Governor said while delivering the opening plenary address at the Summer Meetings organised by Central...
India will be among fastest growing economies in 2023: RBI Governor
India will be among fastest growing economies in 2023: RBI Governor
Source: IANS
13/06/2023 7:34:26 PM
India`s disinflation process to be slow, protracted, says cenbank chief The disinflation process in India will be slow and protracted, with the 4% inflation target likely to be met only over the medium term, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Tuesday. "The cumulative impact of our monetary policy actions over the last one year is still unfolding and yet to materialise fully," Das said in a speech at the Summer Meetings organised by Central Banking in London. "While our inflation projection for the current financial y...
India`s disinflation process to be slow, protracted, says cenbank chief
India`s disinflation process to be slow, protracted, says cenbank chief
Source: Reuters
13/06/2023 5:42:46 PM
Narendra Modi government committed to strengthen cooperatives: Amit Shah A day after the Centre announced four important initiatives to strengthen 1,514 Urban Co-operative Banks (UCBs) in the country, Union Home Minister Amit Shah on Saturday said that Prime Minister Narendra Modi government is committed to strengthening the cooperatives and treating them equally with other economic entities. In a tweet, Shah said: "Four major new policy decisions empowering the Urban Cooperative Banks have been approved: The UCBs can now open new branches without the prio...
Narendra Modi government committed to strengthen cooperatives: Amit Shah
Narendra Modi government committed to strengthen cooperatives: Amit Shah
Source: IANS
10/06/2023 4:10:01 PM
RBI decides to widen scope of framework for resolution of stressed assets: Shaktikanta Das Reserve Bank of India (RBI) Governor Shaktikanta Das has said the RBI has decided to widen the scope of the framework for resolution of stressed assets, under which all the regulated entities including cooperative lenders will now be able to execute ‘compromise settlements and technical write-offs’ to resolve non-performing assets (NPAs). Das stated that till now, this avenue for dud asset resolutions was available only with scheduled commercial banks and select non-bank financ...
RBI decides to widen scope of framework for resolution of stressed assets: Shaktikanta Das
RBI decides to widen scope of framework for resolution of stressed assets: Shaktikanta Das
Source: Accord Fintech
9/06/2023 11:17:50 AM
India's cenbank may not cut rate before Feb unless inflation skids, global crisis hits - Axis Bank treasurer  India's central bank may not cut the key lending rate before February unless inflation falls sharply or a global crisis unfolds, a top treasury official of Axis Bank said. On Thursday, the Reserve Bank of India left the repo rate unchanged at 6.50%, as expected. However, Governor Shaktikanta Das said the central bank needed to move towards the primary target of inflation at the 4% level, and it will do "whatever is necessary to ensure that long-term inflation expectations re...
India's cenbank may not cut rate before Feb unless inflation skids, global crisis hits - Axis Bank treasurer
India's cenbank may not cut rate before Feb unless inflation skids, global crisis hits - Axis Bank treasurer
Source: Reuters
9/06/2023 11:13:51 AM
RBI-MPC decides on internationalisation of Rupay cards, expanding scope of NPA resolution Expanding the scope of resolving the issue of non-performing assets (NPA) to other regulated entities, extending the time for Urban Cooperative Banks (UCB) to achieve the target for priority sector lending, internationalisation of Rupay cards are some of the major decisions of the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC). Announcing the decisions of the MPC, RBI Governor Shaktikanta Das said the Rupay debit and credit cards are gaining increased acceptance abroad. ...
RBI-MPC decides on internationalisation of Rupay cards, expanding scope of NPA resolution
RBI-MPC decides on internationalisation of Rupay cards, expanding scope of NPA resolution
Source: IANS
8/06/2023 2:13:06 PM
India central bank holds rates as expected The Indian central bank's key lending rate was held steady at a second straight policy meeting on Thursday, as widely anticipated, as it looks to study the impact of its past hikes on inflation. The monetary policy committee (MPC), which has three members from the Reserve Bank of India and three external members, kept the repo rate steady at 6.50% in a unanimous decision. All 64 economists in a Reuters poll taken between May 16 and 29 expected no change in rates. The RBI's po...
India central bank holds rates as expected
India central bank holds rates as expected
Source: Reuters
8/06/2023 10:22:49 AM
India's GDP growth in FY23 estimated at 7.2% India's gross domestic product (GDP) growth for FY23 is estimated at 7.2 per cent, said the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation on Wednesday. According to NSO, the growth in real GDP during 2022-23 is estimated at 7.2 per cent as compared to 9.1 per cent in 2021-22. The GDP growth during the fourth quarter of 2022-23 was at 6.1 per cent, NSO said. The NSO said the GDP in the year 2022-23 is estimated to attain a level of Rs 160.0...
India's GDP growth in FY23 estimated at 7.2%
India's GDP growth in FY23 estimated at 7.2%
Source: IANS
31/05/2023 7:54:36 PM
India`s growth likely to be more than 7% in 2022-23: Shaktikanta Das Expressing optimism over India’s economic situation, the Reserve Bank of India (RBI) Governor Shaktikanta Das has said that the growth for 2022-23 is likely to be more than the advance estimate of 7 per cent on the back of economic momentum maintained in the third and fourth quarters of the last fiscal. He said ‘there is a possibility that it could be even more…it will not be a surprise if the GDP growth of last year comes slightly above 7 per cent’. As per the second...
India`s growth likely to be more than 7% in 2022-23: Shaktikanta Das
India`s growth likely to be more than 7% in 2022-23: Shaktikanta Das
Source: Accord Fintech
25/05/2023 9:45:10 AM
Decision to tweak policy rates depends on on-ground situation: RBI Governor The Reserve Bank of India (RBI) Governor Shaktikanta Das has said that the decision to tweak policy rates was not in his hand as he himself is driven by the situation on the ground. In April, the RBI in a surprise move hit the pause button and decided to keep the key benchmark policy rate at 6.5 per cent. Prior to it, the RBI was on a rate hiking spree, raising the repo rate by 250 basis points since May 2022. The Governor further said retail inflation has moderated, but there is no room f...
Decision to tweak policy rates depends on on-ground situation: RBI Governor
Decision to tweak policy rates depends on on-ground situation: RBI Governor
Source: Accord Fintech
24/05/2023 2:07:53 PM
India central bank chief says inflation has moderated, but no room for complacency India's inflation has moderated, but the central bank cannot be complacent towards easing price pressures yet as potential weather-related uncertainties linger, the governor of the Reserve Bank of India said on Wednesday. "The war on inflation is not over; we have to remain alert," Shaktikanta Das said at an event in New Delhi. "There is no room for complacency. We will have to see how the El Nino factor plays out." India's annual retail inflation eased to...
India central bank chief says inflation has moderated, but no room for complacency
India central bank chief says inflation has moderated, but no room for complacency
Source: Reuters
24/05/2023 12:10:50 PM
India`s GDP growth could top 7% in FY23 - RBI governor Das  India's gross domestic product growth could be above 7% for 2022-23, the central bank governor said on Wednesday, adding that such an outcome, if realised, should not come as a surprise. There is also a possibility that GDP growth for the last financial year could be higher, Shaktikanta Das said at an event in New Delhi.
India`s GDP growth could top 7% in FY23 - RBI governor Das
India`s GDP growth could top 7% in FY23 - RBI governor Das
Source: Reuters
24/05/2023 11:10:55 AM
India's latest currency note exchange seen less disruptive than 2016  India is bracing for a second currency note exchange program in less than seven years, pulling its 2,000 rupee note out of circulation in an exercise that comes ahead of a series of crucial state elections. The withdrawal of the economy's highest denomination note is expected to be far less disruptive than a 2016 move to demonetise 86% of the country's currency in circulation overnight, which led to a sharp economic slowdown. "The impact on the economy will be very ma...
India's latest currency note exchange seen less disruptive than 2016
India's latest currency note exchange seen less disruptive than 2016
Source: Reuters
22/05/2023 2:29:53 PM
India`s central bank expects most 2,000-rupee notes to be returned by end-September - chief India's central bank expects most currency notes of 2,000 rupees denomination to be returned to banks by the end of September, Governor Shaktikanta Das said on Monday, adding that there is no reason for people to rush to lenders for exchange. The Reserve Bank of India said on Friday that notes of 2,000 rupees denomination will be withdrawn from circulation and citizens have until September-end to exchange or deposit them. "We do not expect a rush at banks to exchange the notes,...
India`s central bank expects most 2,000-rupee notes to be returned by end-September - chief
India`s central bank expects most 2,000-rupee notes to be returned by end-September - chief
Source: Reuters
22/05/2023 12:58:36 PM
India`s retail inflation may ease to cenbank`s 4% target in May - economists India's headline retail inflation in May is likely to fall further towards 4% — the midpoint of the central bank's target and a level last seen in January 2021, according to a few economists, who expect lower food prices to aid the decline. India's consumer price inflation (CPI) eased to an 18-month low of 4.7% in April, from 5.66% in the previous month, largely due to a moderation in food prices, which accounts for nearly half of the overall consumer price basket. Whi...
India`s retail inflation may ease to cenbank`s 4% target in May - economists
India`s retail inflation may ease to cenbank`s 4% target in May - economists
Source: Reuters
15/05/2023 12:16:37 PM
Cooling off in inflation `very satisfying`, confident that `monetary policy is on right track`: Shaktikanta Das Expressing optimism over cooling off in headline inflation, the Reserve Bank of India (RBI) Governor Shaktikanta Das has said the headline inflation coming down to 4.7 per cent during April is ‘very satisfying’. He added that the release of the official data gives confidence that the ‘monetary policy is on the right track’. He further said the RBI is ‘quite optimistic and fairly confident’ about the country's 6.5 per cent real GDP growth rate in FY24...
Cooling off in inflation `very satisfying`, confident that `monetary policy is on right track`: Shaktikanta Das
Cooling off in inflation `very satisfying`, confident that `monetary policy is on right track`: Shaktikanta Das
Source: Accord Fintech
15/05/2023 9:50:46 AM
As inflation cools off, RBI Guv says `monetary policy on right track` With the latest official data indicating a cooling off in the headline inflation to 4.7 per cent in April, RBI Governor Shaktikanta Das said that it proves the monetary policy is on the right track, here on Friday. Terming the official data as a very satisfying development, Das refused to comment if the release of the numbers would lead to change of the policy stance or the Reserve Bank of India (RBI) becoming less hawkish. He preferred to say that all this would be clear on June 8 when...
As inflation cools off, RBI Guv says `monetary policy on right track`
As inflation cools off, RBI Guv says `monetary policy on right track`
Source: IANS
13/05/2023 9:10:04 AM
Early warning signal mechanism needs to be strengthened to insulate economy from global shocks: FM in FSDC meeting The Financial Stability and Development Council (FSDC) on Monday decided that a mechanism needs to be evolved to strengthen early warning signals, so that all kinds of financial stress can identified well in advance. During the 27th meeting of the FSDC, presided over by Finance Minister Nirmala Sitharaman, it was noted that though the Indian economy is well insulated from global shocks and spillover effects of the prevailing geopolitical situation, there is a need to be cautious and theref...
Early warning signal mechanism needs to be strengthened to insulate economy from global shocks: FM in FSDC meeting
Early warning signal mechanism needs to be strengthened to insulate economy from global shocks: FM in FSDC meeting
Source: IANS
9/05/2023 9:41:40 AM
A resilient bank must be financially and organisationally strong: RBI Governor The Governor of Reserve Bank of India (RBI), Shaktikanta Das, said on Thursday that a resilient future-ready bank needs to be financially, operationally and organisationally strong. Addressing the global conference on financial resilience organised by the College of Supervisors here, Das said that in order to be resilient, a bank should have adequate capital buffers and should be able to generate earnings even in times of severe macroeconomic shocks. "It should also have adequate l...
A resilient bank must be financially and organisationally strong: RBI Governor
A resilient bank must be financially and organisationally strong: RBI Governor
Source: IANS
28/04/2023 9:16:33 AM
Indian banks should have adequate capital buffers, liquidity: cenbank chief Indian banks should have adequate capital buffers and liquidity and be ready to report earnings even under macroeconomic stress, the country's central bank chief said on Thursday. "Our approach has been to enhance the resilience as well as the robustness of the financial sector so that individual entities effectively withstand stressful situations and continue to contribute to the economic development of the country," Reserve Bank of India Governor Shaktikanta Das said at an ...
Indian banks should have adequate capital buffers, liquidity: cenbank chief
Indian banks should have adequate capital buffers, liquidity: cenbank chief
Source: Reuters
27/04/2023 12:52:56 PM
RBI-MPC`s fight against inflation not yet over: Governor Shaktikanta Das at Monetary Policy Committee Meeting The Reserve Bank of India's (RBI) fight against inflation is far from over, Governor Shaktikanta Das said at the Monetary Policy Committee (MPC) meeting, as per the meeting's minutes. The MPC met on April 3, 5 and 6 this year and decided to pause on the repo rate at 6.50 per cent. In his remarks at the MPC meeting, Das said the cumulative impact of monetary policy actions over the last one year is still unfolding and needs to be monitored closely. Inflation for 2023-24 is pro...
RBI-MPC`s fight against inflation not yet over: Governor Shaktikanta Das at Monetary Policy Committee Meeting
RBI-MPC`s fight against inflation not yet over: Governor Shaktikanta Das at Monetary Policy Committee Meeting
Source: IANS
21/04/2023 8:56:48 AM
Indian central bank, bank executives to discuss supervisory issues in May -sources  India's central bank will hold separate meetings with the executive of state-run and private banks late next month to discuss supervision, ethics and governance issues, five banking sources said on Thursday. Reserve Bank of India (RBI) officials, including Governor Shaktikanta Das, will meet with executives at state-run banks on May 22 and with private banks' executives on May 29, the sources said. "The RBI has been regularly gathering inputs from banks about the stat...
Indian central bank, bank executives to discuss supervisory issues in May -sources
Indian central bank, bank executives to discuss supervisory issues in May -sources
Source: Reuters
20/04/2023 1:58:02 PM
G20 FinMins agree on conducive environment for global economic recovery, protect vulnerable nations G20 finance ministers and central bank governors (FMCBG) have agreed that the grouping can contribute to building a common understanding on fostering a conducive environment for global economic recovery, and ensuring that the most vulnerable countries and sections of the population are adequately protected. The resolution was taken in the context of the ongoing Russia-Ukraine war and devastation caused in the region due to it. During their second meeting, which concluded on Thursday in ...
G20 FinMins agree on conducive environment for global economic recovery, protect vulnerable nations
G20 FinMins agree on conducive environment for global economic recovery, protect vulnerable nations
Source: IANS
14/04/2023 9:19:30 AM