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Risk of stagflation currently in India very low The Reserve Bank of India (RBI) in its an article on 'State of the Economy' in the August Bulletin has said that risk of stagflation currently in India remains very low, with a probability of only 3 per cent, notwithstanding a sharp pick-up in inflation. Stagflation is the phase when an economy faces moderation in GDP growth and high inflation. An article also underlined that in this stressed global environment, the Indian economy is gathering momentum in the second quarter of 2023...
Risk of stagflation currently in India very low
Risk of stagflation currently in India very low
Source: Accord Fintech
18/08/2023 10:28:03 AM
Central banks need to incorporate climate-related risks into supervisory frameworks: RBI Deputy Governor Reserve Bank of India (RBI) Deputy Governor M Rajeshwar Rao has said that central banks need to incorporate climate-related risks into their supervisory frameworks in order to contribute to the development of frameworks and standards for green finance. He said these frameworks can help promote transparency, standardization, and integrity in the green finance market. He stressed that financing the new green ventures alone will not be enough and there is a need for credible transition plans for...
Central banks need to incorporate climate-related risks into supervisory frameworks: RBI Deputy Governor
Central banks need to incorporate climate-related risks into supervisory frameworks: RBI Deputy Governor
Source: Accord Fintech
26/07/2023 11:46:13 AM
J Swaminathan takes charge as RBI Deputy Governor  Top banker J. Swaminathan on Monday took charge as the Deputy Governor of Reserve Bank of India (RBI). The government on June 21 had appointed him to the post of Deputy Governor for a period of three years from the date of joining the post or until further orders, whichever is earlier. Swaminathan was the Managing Director, Corporate Banking and Subsidiaries, of the State Bank of India (SBI) before being appointed as Deputy Governor. As Deputy Governor, he will look after Consu...
J Swaminathan takes charge as RBI Deputy Governor
J Swaminathan takes charge as RBI Deputy Governor
Source: IANS
27/06/2023 9:38:24 AM
Productivity growth critical for overall recovery of emerging economies - Indian cenbank deputy A multi-pronged approach woven into a comprehensive policy intervention is needed to reignite and sustain productivity growth at emerging and developing economies (EMDEs), a deputy governor at the Reserve Bank of India (RBI) said. Michael Patra, in a speech delivered at the Sixth Asia KLEMS Conference on Sunday, said it is widely believed that structural slowdown has been spreading across the global economy after growth peaked in 2010. While about half of this slowdown can be attributed...
Productivity growth critical for overall recovery of emerging economies - Indian cenbank deputy
Productivity growth critical for overall recovery of emerging economies - Indian cenbank deputy
Source: Reuters
12/06/2023 10:27:07 AM
India's banking sector needs to address gaps in governance frameworks and assurance functions: RBI Deputy Governor RBI Deputy Governor M Rajeshwar Rao has said that India's banking sector needs to address gaps in the governance frameworks and assurance functions in a bid to gear up to meet the future challenges as the country strives to become a developed nation by 2047. He emphasized that financial institutions will need extraordinary amounts of financial resources to support growth to realize the visions for a brighter tomorrow.   Rao has stated that raising these resources would not be...
India's banking sector needs to address gaps in governance frameworks and assurance functions: RBI Deputy Governor
India's banking sector needs to address gaps in governance frameworks and assurance functions: RBI Deputy Governor
Source: Accord Fintech
5/06/2023 1:58:38 PM
Global finance dominated by few currencies, need to de-risk by diversifying: T Rabi Sankar Reserve Bank of India (RBI) Deputy Governor T Rabi Sankar has said a handful of currencies currently dominate global finance, and there is a need for de-risking by diversifying the international currency system by adopting liquid currencies.    Sankar also appealed that central bank digital currencies (CBDCs) should be adopted more by other countries as well, terming the fiat digital currency as essential for mainta. It can be noted that India began its efforts to internationa...
Global finance dominated by few currencies, need to de-risk by diversifying: T Rabi Sankar
Global finance dominated by few currencies, need to de-risk by diversifying: T Rabi Sankar
Source: Accord Fintech
5/05/2023 10:57:49 AM
Need better rupee volatility management to deal with risks of internationalisation: M Rajeshwar Rao Reserve Bank of India’s Deputy Governor M Rajeshwar Rao has said that India needs to gear up to manage the exchange rate volatility as the country progresses on the path of internationalisation of rupee and freer capital account convertibility. He also said that internationalisation of rupee has its own benefits as well as challenges and risks which the country and the Reserve Bank of India will have to deal with. He said as the economy grows and becomes more developed, the scope of ...
Need better rupee volatility management to deal with risks of internationalisation: M Rajeshwar Rao
Need better rupee volatility management to deal with risks of internationalisation: M Rajeshwar Rao
Source: Accord Fintech
10/03/2023 10:24:36 AM
Finance track at the core of G20 process, says Anurag Thakur The finance track is at the core of the G20 process and provides an effective forum for global economic discourse and policy coordination, Information and Broadcasting Minister Anurag Thakur said on Wednesday. Thakur's statement came as he inaugurated the 2nd G20 Finance and Central Bank Deputies (FCBD) meeting here. It is the side event of the first G20 Finance Ministers and Central Bank Governors (FMCBG) meeting, which began earlier in the day. The G20 FMCBG meeting is preceded by...
Finance track at the core of G20 process, says Anurag Thakur
Finance track at the core of G20 process, says Anurag Thakur
Source: IANS
22/02/2023 4:52:54 PM
First G20 meeting of finance & central bank deputies on December 13 in Bengaluru The first meeting of the Finance and Central Bank Deputies under the G20 presidency of India will be held between December 13 and 15 in Bengaluru. This meeting, which will mark the start of discussions on the Finance Track agenda under the Indian G20 presidency, will be hosted jointly by the finance ministry and the RBI. The meeting will be co-chaired by economic affairs secretary Ajay Seth and RBI deputy governor Michael Patra. Their counterparts from G20 member countries and from s...
First G20 meeting of finance & central bank deputies on December 13 in Bengaluru
First G20 meeting of finance & central bank deputies on December 13 in Bengaluru
Source: IANS
11/12/2022 2:32:40 PM
`Rising global interest rates to test New Zealand`s financial resilience` The Reserve Bank of New Zealand said on Wednesday that rising global interest rates to curb inflation will test the country's financial resilience. "While our financial system as a whole is resilient, some households and businesses will be challenged by the rising interest rate environment," Governor Adrian Orr said while releasing the bank's twice yearly Financial Stability Report. "It is important that financial institutions take a long-term view when supporting...
`Rising global interest rates to test New Zealand`s financial resilience`
`Rising global interest rates to test New Zealand`s financial resilience`
Source: IANS
2/11/2022 4:03:50 PM
Digital currency to be launched as pilot project this year: RBI Deputy Governor Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar on Wednesday said that the central bank will launch its digital currency as a pilot project this year. Addressing the India Ideas Summit, he said that Central Bank Digital Currency (CBDC) is the most efficient system for cross-border payments. Finance Minister Nirmala Sitharaman had announced in the Union Budget that CBDC would be launched during 2022-23. He, however, reiterated that RBI is not aiming for a cashless society b...
Digital currency to be launched as pilot project this year: RBI Deputy Governor
Digital currency to be launched as pilot project this year: RBI Deputy Governor
Source: IANS
7/09/2022 5:05:54 PM
Inflation trajectory continues to be `heavily contingent` upon evolving geopolitical developments: RBI Deputy Governor Reserve Bank of India (RBI) Deputy Governor Michael Debabrata Patra has said that in the near-term, inflation trajectory continues to be ‘heavily contingent’ upon the evolving geopolitical developments, international commodity prices and global financial sector developments. He said the RBI on its part has front-loaded monetary policy response, with a cumulative 140 basis points increase in the benchmark rate so far with an aim to check high inflation which is ruling above its com...
Inflation trajectory continues to be `heavily contingent` upon evolving geopolitical developments: RBI Deputy Governor
Inflation trajectory continues to be `heavily contingent` upon evolving geopolitical developments: RBI Deputy Governor
Source: Accord Fintech
29/08/2022 12:42:16 PM
'Harnessing four engines of growth, India can imagine 11 per cent growth' bhubaneswar, Aug 13 (IANS) Demographics, manufacturing, exports, and internationalisation are the four engines of India's growth and by overcoming four challenges, it is possible to imagine the country with a growth rate of 11 per cent in the next decade, RBI Deputy Governor Dr. Michael Debabrata Patra said. Addressing an event organised by the Reserve Bank of India (RBI) to celebrate Azadi Ka Amrit Mohotsav, he identified the the four challenges that need to be addressed as the l...
'Harnessing four engines of growth, India can imagine 11 per cent growth'
'Harnessing four engines of growth, India can imagine 11 per cent growth'
Source: IANS
13/08/2022 7:25:40 PM
Financial institutions, Banks, need to proactively undertake stress testing of loan books: RBI Deputy Governor M Rajeshwar Rao RBI Deputy Governor M Rajeshwar Rao has said despite the improvement in asset quality, financial institutions, including banks, need to proactively undertake stress testing of loan books to examine their loss absorption limits and take steps to improve them wherever required. Rao stated the gross non-performing assets (GNPAs) and net NPAs of banks improved to 5.97 per cent and 1.7 per cent as of March 31, 2022, from 9.23 per cent and 3.66 per cent as of September 2019, respectively. He not...
Financial institutions, Banks, need to proactively undertake stress testing of loan books: RBI Deputy Governor M Rajeshwar Rao
Financial institutions, Banks, need to proactively undertake stress testing of loan books: RBI Deputy Governor M Rajeshwar Rao
Source: Accord Fintech
17/06/2022 10:30:38 AM