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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
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 growth in April-June quarter likely to be driven by private consumption, rural demand: RBI article A Reserve Bank of India (RBI) article has said that India’s growth in the April-June quarter is likely to be driven by private consumption, supported by reviving rural demand, and renewed buoyancy in manufacturing. It said the global economy is transfixed in the cross-currents of slowing growth and high inflation, and an uneasy calm prevails in the global financial markets as they await clearer signals from policy authorities on banking regulation and supervision, and contours of deposi...
India`s growth in April-June quarter likely to be driven by private consumption, rural demand: RBI article
India`s growth in April-June quarter likely to be driven by private consumption, rural demand: RBI article
Source: Accord Fintech
23/05/2023 9:38:55 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
Inaugural G20 Finance Ministers, Central Bank Governors meeting in Bengaluru The first G20 Finance Ministers and Central Bank Governors (FMCBG) meeting, under the G20's Indian Presidency, is scheduled to take place in Bengaluru between February 24-25. The meeting is aimed at fostering a meaningful exchange of ideas among ministers and Governors to address some of the key global economic issues. Finance Minister Nirmala Sitharaman and Reserve Bank of India (RBI) Governor Shaktikanta Das will jointly chair the meeting, official sources said. The G20 FMCBG m...
Inaugural G20 Finance Ministers, Central Bank Governors meeting in Bengaluru
Inaugural G20 Finance Ministers, Central Bank Governors meeting in Bengaluru
Source: IANS
19/02/2023 5:34:53 PM
India to be $3.7 trillion economy in 2023: RBI article Highlighting that the macro-economic stability is getting entrenched, a Reserve Bank of India (RBI) article stated that India will be a $3.7 trillion economy in 2023, maintaining its lead over the UK as the fifth largest economy of the world. The article titled ‘State of the Economy’ published in the January bulletin of the RBI said recent data arrivals indicate that the first milestone of monetary policy is being passed – bringing inflation into the tolerance band. The arti...
India to be $3.7 trillion economy in 2023: RBI article
India to be $3.7 trillion economy in 2023: RBI article
Source: Accord Fintech
20/01/2023 10:22:47 AM
RBI Deputy Governor Michael Patra reappointed for one year The Centre on Monday reappointed Reserve Bank of India (RBI) Deputy Governor Michael Debabrata Patra for a period of one year with effect from January 15. The decision was taken by the Appointments Committee of the Cabinet. Patra, a career central banker since 1985, had taken over as RBI Deputy Governor on January 14, 2020. He has worked in various positions in the central bank. As Executive Director, he was a member of the Monetary Policy Committee (MPC) of the RBI, which is entr...
RBI Deputy Governor Michael Patra reappointed for one year
RBI Deputy Governor Michael Patra reappointed for one year
Source: IANS
10/01/2023 8:58:55 AM
Calibrated monetary policy action is warranted to contain build-up in underlying inflationary pressures: RBI Governor Saying that inflation remains above the upper tolerance level, Reserve Bank of India (RBI) Governor Shaktikanta Das stated that calibrated monetary policy action is warranted to contain build-up in underlying inflationary pressures. "Our successive rate actions since May 2022 are working through the system. Considering the elevated inflation levels, especially the stickiness in core inflation, further calibrated monetary policy action is warranted to contain build-up in underlying inf...
Calibrated monetary policy action is warranted to contain build-up in underlying inflationary pressures: RBI Governor
Calibrated monetary policy action is warranted to contain build-up in underlying inflationary pressures: RBI Governor
Source: IANS
24/12/2022 5:58:41 PM
G20 Finance, Central Bank deputies meet discusses coordination on pandemic prevention preparedness The ongoing G20 Finance and Central Bank deputies meeting on Wednesday discussed strengthening coordination arrangements between Finance and Health Ministries for pandemic prevention preparedness. The two-day meeting, which had begun in Bengaluru on Tuesday, was coordinated by India's Economic Affairs Secretary Ajay Seth and RBI Deputy Governor Michael Patra. Addressing media persons in Bengaluru, Seth informed that the agenda was designed, keeping in mind India's G20 presidency...
G20 Finance, Central Bank deputies meet discusses coordination on pandemic prevention preparedness
G20 Finance, Central Bank deputies meet discusses coordination on pandemic prevention preparedness
Source: IANS
15/12/2022 10:45:19 AM
Deliberations held on global economic outlook at inaugural meeting of Finance, central bank deputies Discussions pertaining to global economic outlook and risks as well as policy responses to tackle emerging global challenges, were held on the first day of the inaugural Finance & Central Bank Deputies meeting under India's G20 presidency in Bengaluru on Tuesday. G20 members spoke on immediate challenges of global inflation, food and energy security as well as climate change, official sources said. Economic Affairs Secretary Ajay Seth and RBI Deputy Governor Michael Patra highli...
Deliberations held on global economic outlook at inaugural meeting of Finance, central bank deputies
Deliberations held on global economic outlook at inaugural meeting of Finance, central bank deputies
Source: IANS
14/12/2022 9:46:53 AM
3-day G20 finance meeting begins in Bengaluru The first G20 Finance and Central Bank Deputies (FCBD) meeting with an aim of forging a common path on global priorities through the theme of "Vasudhaiva Kutumbakam" (world is one family), kicked off in Bengaluru on Tuesday. The three-day meeting which marks the start of discussions on the Finance Track agenda under the Indian G20 Presidency, will be hosted jointly by the Union Ministry of Finance and the Reserve Bank of India (RBI). The G20 Finance Track, led by Finance Minis...
3-day G20 finance meeting begins in Bengaluru
3-day G20 finance meeting begins in Bengaluru
Source: IANS
13/12/2022 11:42:13 AM
First finance and central bank deputies meeting to begin in Bengaluru today With over 180 delegates from all over the world, the first Finance & Central Bank Deputies meeting under India's G20 presidency will commence in Bengaluru on Tuesday. Issues related to global economy, international financial architecture, infrastructure and sustainable finance would be taken up during the meeting. Deliberations will continue till December 15, official sources said. It is being jointly hosted by the finance ministry and the RBI. The meeting will be co-chair...
First finance and central bank deputies meeting to begin in Bengaluru today
First finance and central bank deputies meeting to begin in Bengaluru today
Source: IANS
13/12/2022 10:01:01 AM
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
Continued divergence at RBI on battle against inflation There is continuing divergence within the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) on the way the battle against the inflation is to be fought. In a 5:1 decision, the MPC decided to increase the repo rate by 35 basis points (bps) on Wednesday with RBI Governor Shaktikanta Das saying the battle against inflation was continuing. The repo rate, also called the policy rate, is the interest at which the RBI lends money to the commercial banks. While five members...
Continued divergence at RBI on battle against inflation
Continued divergence at RBI on battle against inflation
Source: IANS
7/12/2022 1:34:57 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
Important to bring inflation closer to target, say India MPC members MUMBAI- Despite signs of inflation having peaked in India, the outlook remains highly uncertain, and bringing the retail price rise closer to the target of 4% is essential to help sustain economic growth over the medium term, members of the central bank's monetary policy committee said. "Although inflation seems to have peaked, it is still unconscionably high," Reserve Bank of India deputy governor Michael Patra said in minutes of the MPC's recent meeting published on Fri...
Important to bring inflation closer to target, say India MPC members
Important to bring inflation closer to target, say India MPC members
Source: Reuters
19/08/2022 7:59:01 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
Dr. M. D. Patra, Deputy Governor, Reserve Bank of India, to address PHD Chamber on Geo-political Spill-overs and Indian Economy on 24th June 2022 PHD Chamber of Commerce and Industry has invited Dr. M. D. Patra, Deputy Governor, Reserve Bank of India, to address the members of PHD Chamber and industry stakeholders on ‘Geo-Political Spill-overs and Indian Economy’ on 24th June 2022 from 11:00 AM to 1:00 PM at PHD House, New Delhi. Since the global economic environment is extremely dynamic, at this stage the implications of the global economic developments have to be adequately addressed so that the economic growth tr...
Dr. M. D. Patra, Deputy Governor, Reserve Bank of India, to address PHD Chamber on Geo-political Spill-overs and Indian Economy on 24th June 2022
Dr. M. D. Patra, Deputy Governor, Reserve Bank of India, to address PHD Chamber on Geo-political Spill-overs and Indian Economy on 24th June 2022
Source: PR Agency
23/06/2022 12:44:10 PM