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High prices impinging on India`s growth, central bank minutes show High prices are the cause for demand slowdown in India, and aligning inflation to the central bank's 4% target is key to ensuring sustained economic growth, members of the rate-setting panel said in the minutes of the December meeting. "The policy priority at this critical juncture has to be on restoring the inflation growth balance," Reserve Bank of India Governor Shaktikanta Das said in the minutes of his last monetary policy committee (MPC) meeting released on Friday. L...
High prices impinging on India`s growth, central bank minutes show
High prices impinging on India`s growth, central bank minutes show
Source: Reuters
2024-12-21 10:43:18 am
Area sown under rabi crops increases to 558.8 lakh hectares  The total area sown during the ongoing rabi crop season so far has touched 558.8 lakh hectares, up from 556.6 lakh hectares in the same period of the previous year, an official statement said on Monday.  The area covered under wheat has increased to 293.11 lakh hectares (ha) compared to 284.17 lakh ha during the corresponding period of last year.  The total area under pulses has been reported at 123.27 lakh ha while 38.75 lakh ha area has been sown under Shri Anna (mille...
Area sown under rabi crops increases to 558.8 lakh hectares
Area sown under rabi crops increases to 558.8 lakh hectares
Source: IANS
2024-12-17 08:55:43 am
India`s WPI inflation eases to 1.89 pc in November  India’s annual rate of inflation based on the Wholesale Price Index (WPI) eased to 1.89 per cent in November compared to 2.36 per cent in October as the rise in food prices slowed during the month with the fresh crop arriving in the market, data released by the Commerce and Industry Ministry on Monday showed.   “The positive rate of inflation in November 2024 is primarily due to an increase in prices of food articles, food products, other manufacturing, textiles, mac...
India`s WPI inflation eases to 1.89 pc in November
India`s WPI inflation eases to 1.89 pc in November
Source: IANS
2024-12-16 01:40:45 pm
India`s retail inflation declines to 5.48 per cent in Nov India’s retail price inflation based on the Consumer Price Index (CPI) declined to 5.48 per cent in November as the increase in prices of food items eased during the month bringing relief to household budgets, said the Ministry of Statistics on Thursday. The slowing inflation marks a reversal of the increasing trend in the previous two months when the inflation rate touched 6.21 per cent in October. “During the month of November, a significant decline in inflation is observe...
India`s retail inflation declines to 5.48 per cent in Nov
India`s retail inflation declines to 5.48 per cent in Nov
Source: IANS
2024-12-12 04:42:42 pm
IAMAI, PCI & FCC Welcome Shri Sanjay Malhotra as New RBI Governor The Internet and Mobile Association of India (IAMAI) and its councils, the Payments Council of India (PCI) and the Fintech Convergence Council (FCC), representing participants in India's payment and fintech systems, warmly welcome Shri Sanjay Malhotra's appointment as the 26th Governor of the Reserve Bank of India. The fintech ecosystem is confident that under his able guidance, it will continue to make significant strides. With over three decades of experience across diverse sectors ...
IAMAI, PCI & FCC Welcome Shri Sanjay Malhotra as New RBI Governor
IAMAI, PCI & FCC Welcome Shri Sanjay Malhotra as New RBI Governor
Source: PR Agency
2024-12-12 03:01:22 pm
India`s newly-appointed central bank chief commits to policy continuity  India's newly-appointed central bank governor Sanjay Malhotra on Wednesday said he will look to ensure stability and continuity in policymaking for the benefit of the economy. "All businesses, all people they do need this (policy) stability rather than (a) day-to-day kind of a policy," Malhotra said at a press conference in Mumbai after he took charge for a three-year term. "We continue to uphold this value, this principle of stability." Malhotra's a...
India`s newly-appointed central bank chief commits to policy continuity
India`s newly-appointed central bank chief commits to policy continuity
Source: Reuters
2024-12-11 05:40:38 pm
Quote on The Assessment of RBI Governor Mr. Shaktikanta Das tenure by Dr. Manoranjan Sharma, Chief Economist at Infomerics Ratings Below the Quote on The Assessment of RBI Governor Mr. Shaktikanta Das tenure by Dr. Manoranjan Sharma, Chief Economist at Infomerics Ratings   With Dr. Urjit Patel leaving before his tenure, Mr. Shaktikanta Das took over as the 25th Governor of the Reserve Bank of India for three years in trying circumstances in December 2018. This was a time of intense debate on the role of the RBI and its relationship with the Government of India, a relationship which is uneasy at the best o...
Quote on The Assessment of RBI Governor Mr. Shaktikanta Das tenure by Dr. Manoranjan Sharma, Chief Economist at Infomerics Ratings
Quote on The Assessment of RBI Governor Mr. Shaktikanta Das tenure by Dr. Manoranjan Sharma, Chief Economist at Infomerics Ratings
Source: Infomerics Ratings
2024-12-10 03:37:48 pm
RBI, Finance Ministry coordination at its best, says Shaktikanta Das The Reserve Bank of India and the Finance Ministry have been on "best terms with excellent coordination and cooperation” over the last six years, outgoing RBI Governor, Shaktikanta Das, said in his farewell address on Tuesday.  He said, “The perspectives of the central bank and the Finance Ministry may differ at certain times but I believe in my tenure we have been able to settle such things." Das said restoring a balance between inflation and growth in the ec...
RBI, Finance Ministry coordination at its best, says Shaktikanta Das
RBI, Finance Ministry coordination at its best, says Shaktikanta Das
Source: IANS
2024-12-10 01:41:35 pm
India`s outgoing cenbank chief Shaktikanta Das emphasises on restoring growth-inflation balance Restoring a balance between inflation and growth in India remains an important task for the Reserve Bank of India, outgoing central bank governor Shaktikanta Das said ahead of his leaving office later on Tuesday. India on Monday appointed career civil servant Sanjay Malhotra as the new central bank governor in a surprise move that leaves markets guessing about the future direction of monetary policy. Financial markets had expected Das to be handed an unprecedented second extension.
India`s outgoing cenbank chief Shaktikanta Das emphasises on restoring growth-inflation balance
India`s outgoing cenbank chief Shaktikanta Das emphasises on restoring growth-inflation balance
Source: Reuters
2024-12-10 12:27:59 pm
India`s retail inflation likely to ease India’s retail inflation based on the Consumer Price Index (CPI) is expected to ease to 5.5 per cent in November due to a decline in food prices, according to a Morgan Stanley report.  "We expect CPI inflation to edge downwards to 5.5 per cent in November from 6.2 per cent in October, aided by a moderation in food prices, even as core ticks up and fuel continues to decline. On a sequential basis, we anticipate the index to decline on the back of contracting food prices and ...
India`s retail inflation likely to ease
India`s retail inflation likely to ease
Source: IANS
2024-12-10 12:16:41 pm
S&P Global Ratings projects 6.8 pc growth for Indian economy in FY25 S&P Global Ratings on Tuesday projected 6.8 per cent growth for the Indian economy in FY25, followed by 6.9 per cent growth in FY26, on the back of strong urban consumption, steady service sector growth, and ongoing investment in infrastructure.  The growth projection by S&P Global Ratings is higher than the latest Reserve Bank of India’s (RBI) forecast for India’s GDP growth for 2024-25 at 6.6 per cent, from 7.2 per cent earlier. The global credit rating agency...
S&P Global Ratings projects 6.8 pc growth for Indian economy in FY25
S&P Global Ratings projects 6.8 pc growth for Indian economy in FY25
Source: IANS
2024-12-10 11:29:33 am
Total area sown under Rabi crops surges past 493.6 lakh hectares The total area sown during the ongoing Rabi crop season so far has surpassed 493.6 lakh hectares, up from 486.3 hectares in the same period last year raising hopes of higher agricultural production that would help to bring down food prices.  The area covered under wheat has increased to 239.49 lakh hectares compared to 234.15 lakh hectares in the corresponding period of the previous year. Similarly, the area sown under pulses has shot up to 120.65 lakh hectares in the current Rabi ...
Total area sown under Rabi crops surges past 493.6 lakh hectares
Total area sown under Rabi crops surges past 493.6 lakh hectares
Source: IANS
2024-12-10 09:05:51 am
Rupee poised for all-time low as RBI change of guard spurs rate cut hopes The Indian rupee is likely to weaken to its lifetime low on Tuesday after the government named career civil servant Sanjay Malhotra to replace outgoing Reserve Bank of India Governor Shaktikanta Das, prompting heightened expectations of rate cuts next year. The 1-month non-deliverable forward indicated that the rupee will open at around 84.80-84.82 to the U.S. dollar, eclipsing its previous all-time low of 84.7575 and lower from its close of 84.73 in the previous session. Malhotra, who ...
Rupee poised for all-time low as RBI change of guard spurs rate cut hopes
Rupee poised for all-time low as RBI change of guard spurs rate cut hopes
Source: Reuters
2024-12-10 08:53:58 am
Sanjay Malhotra to replace Shaktikanta Das as RBI Governor  The Central government on Monday appointed Sanjay Malhotra, Secretary (Revenue) in the Ministry of Finance as the next Reserve Bank of India Governor. He will replace Shaktikanta Das, who with a six-year stint is the second-longest serving RBI Governor. Sanjay Malhotra is a 1990 batch Indian Administrative Service (IAS) officer of the Rajasthan cadre. He is an Engineering Graduate in Computer Science from the Indian Institute of Technology, Kanpur and has a Master's in Public Pol...
Sanjay Malhotra to replace Shaktikanta Das as RBI Governor
Sanjay Malhotra to replace Shaktikanta Das as RBI Governor
Source: IANS
2024-12-09 06:06:41 pm
Inflation burden eases for farm and rural labourers  The All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) for October declined to 5.96 per cent and 6 per cent, respectively, compared to 7.08 per cent and 6.92 per cent in the same month last year, according to figures released by the Ministry of Labour and Employment on Monday.   The inflation for agricultural and rural labourers for October was also lower than the corresponding figures for September 2024, which were 6.36 per cent for ...
Inflation burden eases for farm and rural labourers
Inflation burden eases for farm and rural labourers
Source: IANS
2024-12-09 05:59:16 pm
RBI`s liquidity infusion of Rs 1.16 lakh crore a big positive: Assocham  Leading industry chamber Assocham on Friday said that the decision by the Reserve Bank of India (RBI) to cut the cash reserve ratio by 50 basis points, releasing Rs 1.16 lakh crore into the banking system, is a pragmatic measure to maintain the inflation-growth balance in the face of evolving macro-economic situation.  The chamber also welcomed the measures to boost India's foreign exchange inflows by revision in the FCNR(B) rates, thereby providing stability in the forex ma...
RBI`s liquidity infusion of Rs 1.16 lakh crore a big positive: Assocham
RBI`s liquidity infusion of Rs 1.16 lakh crore a big positive: Assocham
Source: IANS
2024-12-07 09:44:32 am
RBI`s gold purchases up 5-fold at 77 tonnes in January-October  The Reserve Bank of India (RBI) bought 27 tonnes of gold during October taking its total purchases of the precious metal to 77 tonnes from January to October, according to a WGC report based on data compiled by the International Monetary Fund (IMF).  The RBI’s gold purchases in the first 10 months of 2024 represent a five-fold increase over the quantity of the precious metal bought in the same period of 2023, WGC said. According to the data, the RBI’s total gold r...
RBI`s gold purchases up 5-fold at 77 tonnes in January-October
RBI`s gold purchases up 5-fold at 77 tonnes in January-October
Source: IANS
2024-12-07 08:59:08 am
India`s fx reserves halt eight-week losing streak, come off 5-month lows India's foreign exchange reserves rose for the first time in nine weeks and stood at $658.09 billion as of Nov. 29, coming off five-month lows, data from the Reserve Bank of India showed on Friday. The reserves rose by $1.5 billion in the reported week. They had dropped by $48.3 billion cumulatively in the last eight weeks. Changes in foreign currency assets are caused by the central bank's intervention in the forex market as well as the appreciation or depreciation of foreign a...
India`s fx reserves halt eight-week losing streak, come off 5-month lows
India`s fx reserves halt eight-week losing streak, come off 5-month lows
Source: Reuters
2024-12-06 05:40:21 pm
RBI setting up expert committee for ethical use of AI in financial sector The RBI has decided to constitute a committee to develop a Framework for Responsible and Ethical Enablement of AI (FREE-AI) in the financial sector, RBI Governor Shaktikanta Das announced here on Friday.  The FREE AI committee will look into a framework that will address critical challenges, including algorithmic transparency and protection of user data, and create a roadmap for sustainable AI integration within the financial sector. "To harness the benefits of these technolog...
RBI setting up expert committee for ethical use of AI in financial sector
RBI setting up expert committee for ethical use of AI in financial sector
Source: IANS
2024-12-06 01:49:40 pm
India cenbank takes steps to increase forex inflows to boost struggling rupee The Reserve Bank of India on Friday raised the interest rate ceiling that banks can offer for foreign currency non-resident (FCNR-B) deposits to boost forex inflows at a time when the currency has been regularly hitting all-time lows. A FCNR-B is a term deposit account that non-resident Indians (NRIs) can open with banks in a foreign currency. Since the account is maintained in a foreign currency, the depositor is not exposed to exchange rate risk, making it attractive for NRIs. The cen...
India cenbank takes steps to increase forex inflows to boost struggling rupee
India cenbank takes steps to increase forex inflows to boost struggling rupee
Source: Reuters
2024-12-06 12:54:45 pm
RBI lowers GDP growth forecast to 6.6 pc The Reserve Bank has scaled down its forecast for India’s GDP growth for 2024-25 to 6.6 per cent from 7.2 per cent earlier, RBI Governor Shaktikanta Das announced on Friday. He explained that the decision had been made as the growth in real GDP in the second quarter of this year at 5.4 per cent turned out to be much lower than anticipated. However, Das said that India’s growth story was intact as “going forward, high-frequency indicators available so far suggest that t...
RBI lowers GDP growth forecast to 6.6 pc
RBI lowers GDP growth forecast to 6.6 pc
Source: IANS
2024-12-06 12:32:06 pm
RBI slashes cash reserve ratio by 0.5 pc to spur growth, leaves repo rate unchanged The Reserve Bank of India (RBI) on Friday slashed the cash reserve ratio (CRR) for banks by 0.5 per cent to make more funds available for lending to spur economic growth, but kept the key policy repo rate unchanged at 6.5 per cent with an eye on inflation.  The CRR has been reduced from 4.5 per cent to 4 per cent. This is the first time since March 2020 that the CRR has been cut. The CRR is the proportion of deposits that banks have to set aside as idle cash in the system. The CRR ...
RBI slashes cash reserve ratio by 0.5 pc to spur growth, leaves repo rate unchanged
RBI slashes cash reserve ratio by 0.5 pc to spur growth, leaves repo rate unchanged
Source: IANS
2024-12-06 11:32:50 am
India cenbank cuts banks` cash reserve ratio to ease liquidity conditions  The Reserve Bank of India (RBI) has decided to cut banks' cash reserve ratio by 50 basis points to 4%, Governor Shaktikanta Das said in his monetary policy address on Friday. The cash reserve ratio, or CRR, is the proportion of deposits that banks need to set aside as cash. The cut will be in two tranches of 25 basis points each, kicking in on Dec. 14 and Dec 28. The reduction in CRR would free up 1.16 trillion rupees in the banking system, Das said. Earlier, the central...
India cenbank cuts banks` cash reserve ratio to ease liquidity conditions
India cenbank cuts banks` cash reserve ratio to ease liquidity conditions
Source: Reuters
2024-12-06 11:18:51 am
Breaking News : RBI Maintains Monetary Stance Of `Neutral`  RBI Maintains Monetary Stance Of  `Neutral`
Breaking News : RBI Maintains Monetary Stance Of `Neutral`
Breaking News : RBI Maintains Monetary Stance Of `Neutral`
Source:
2024-12-06 10:14:58 am
RBI keeps repo rate unchanged at 6.5% for 11th time in row; cuts CRR by 50 bps to 4% The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) has decided to Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent. Consequently, the standing deposit facility (SDF) rate remains unchanged at 6.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent. The MPC also decided to continue with the neutral monetary policy stance and to remain unambiguously focused on a durable alignment of inf...
RBI keeps repo rate unchanged at 6.5% for 11th time in row; cuts CRR by 50 bps to 4%
RBI keeps repo rate unchanged at 6.5% for 11th time in row; cuts CRR by 50 bps to 4%
Source: Accord Fintech
2024-12-06 10:08:56 am
RBI Governor Shaktikanta Das Begins Monetary Policy Speech RBI Governor Shaktikanta Das Begins Monetary Policy Speech
RBI Governor Shaktikanta Das Begins Monetary Policy Speech
RBI Governor Shaktikanta Das Begins Monetary Policy Speech
Source: .
2024-12-06 10:04:56 am
India`s RBI supports growth with liquidity boost but holds rates amid high inflation The Reserve Bank of India (RBI) kept its key interest rate unchanged on Friday but cut the cash reserve ratio that banks are required to hold for the first time in over four years, effectively easing monetary conditions as economic growth slows. India's GDP growth rate fell unexpectedly to 5.4% in the July-September quarter, its slowest pace in seven quarters, while inflation is quickening again and the rupee has fallen to record lows, limiting the RBI's room to manoeuvre heading i...
India`s RBI supports growth with liquidity boost but holds rates amid high inflation
India`s RBI supports growth with liquidity boost but holds rates amid high inflation
Source: Reuters
2024-12-06 09:24:50 am
Petrol, diesel, jet fuel sales surge in Nov as economy picks up  India’s petrol, diesel and jet fuel sales shot up in November this year compared to the same month last year, reflecting the higher level of economic activity in the country, data compiled by the public sector oil companies showed.  Petrol sales of Indian Oil, Bharat Petroleum and Hindustan Petroleum jumped by 8.3 per cent to 3.1 million tonnes in November compared to 2.86 million tonnes of consumption in the same month last year due to the increase in demand for the fuel ...
Petrol, diesel, jet fuel sales surge in Nov as economy picks up
Petrol, diesel, jet fuel sales surge in Nov as economy picks up
Source: IANS
2024-12-02 12:48:27 pm
Indian central bank to delay cutting rates to early 2025 amid inflation concerns  The Reserve Bank of India (RBI) is set to hold interest rates on Dec. 6 as a sharp rise in consumer inflation has led several economists in a Reuters poll to push back their forecasts for the first cut in the cycle by a couple of months to February. Annual retail inflation surged past the RBI's 6% tolerance ceiling in October, driven by soaring food prices. RBI Governor Shaktikanta Das, whose term is likely to be extended, recently said any premature move to lower rates would be ...
Indian central bank to delay cutting rates to early 2025 amid inflation concerns
Indian central bank to delay cutting rates to early 2025 amid inflation concerns
Source: Reuters
2024-11-28 08:46:49 am
Proactively monitor portfolios to address potential risks, challenges: RBI Governor to bank boards RBI Governor Shaktikanta Das has asked banks to proactively monitor their portfolios, identify areas of over-concentration, and take pre-emptive measures to address potential risks and challenges. He also asked bank boards to strengthen the internal governance framework to curb unethical practices, such as mis-selling of products or opening of accounts without proper KYC verification. He also said bank boards need to continuously assess external factors like regulatory changes, shifting marke...
Proactively monitor portfolios to address potential risks, challenges: RBI Governor to bank boards
Proactively monitor portfolios to address potential risks, challenges: RBI Governor to bank boards
Source: Accord Fintech
2024-11-19 12:57:24 pm
India central bank chief`s term likely to be extended further, sources say The Indian government is likely to extend the term of central bank governor Shaktikanta Das for a second time, three sources with direct knowledge of the matter told Reuters, an unprecedented move that would make him the longest serving chief since the 1960s. Das was one of the most trusted bureaucrats in Prime Minister Narendra Modi's administration before he was appointed to lead the Reserve Bank of India in December 2018, at a time when the relationship between the government and th...
India central bank chief`s term likely to be extended further, sources say
India central bank chief`s term likely to be extended further, sources say
Source: Reuters
2024-11-19 09:22:54 am
Rupee eyes breathing room as dollar rally stalls, importers may cap gains The Indian rupee is likely to open steady on Tuesday and may look to make mild gains through the session as the dollar's post-U.S. election surge shows signs of cooling after touching a one-year high last week. The 1-month non-deliverable forward indicated that the rupee will open at 84.38-84.39 to the U.S. dollar, little changed from its close of 84.3850 in the previous session. The local currency had declined to its record low of 84.4125 last week. The dollar index was at 106.2...
Rupee eyes breathing room as dollar rally stalls, importers may cap gains
Rupee eyes breathing room as dollar rally stalls, importers may cap gains
Source: Reuters
2024-11-19 09:06:17 am
Exclusive-India cenbank plans 2025 launch of cloud services, countering dominance of global firms  India's central bank will launch a pilot programme in 2025 offering local cloud data storage to financial firms at affordable prices, according to two sources aware of the matter, who declined to be identified as conversations are confidential. The Reserve Bank of India's planned cloud platform will use local IT firms, pitting it against the likes of Amazon Web Services, Microsoft Azure, Google Cloud and IBM Cloud, in a first-of-its-kind initiative from a major global central...
Exclusive-India cenbank plans 2025 launch of cloud services, countering dominance of global firms
Exclusive-India cenbank plans 2025 launch of cloud services, countering dominance of global firms
Source: Reuters
2024-11-18 12:14:16 pm
Indian economy capable of handling global shocks: RBI Governor Reserve Bank of India (RBI) Governor Shaktikanta Das has said that the Indian economy is strong enough to handle any adverse fallout from global events.  "Today, the growth of the Indian economy presents a picture of stability and strength," Das said while addressing an event at the launch of the Kochi International Foundation here. The country's external sector is also strong and the current account deficit (CAD) has remained within manageable limits as it presently ...
Indian economy capable of handling global shocks: RBI Governor
Indian economy capable of handling global shocks: RBI Governor
Source: IANS
2024-11-17 04:44:36 pm
India`s GDP to grow 6.5-7 pc through FY27 over infra, consumption push  India’s GDP will expand 6.5-7 per cent annually in the next three fiscal years (2025-2027), and the country’s good economic growth prospects will continue to support banks' asset quality, according to a new report.  India's infrastructure spending and private consumption will support robust economic growth, said S&P Global Ratings in its latest global bank outlook report. “Structural improvements and good economic prospects will support the r...
India`s GDP to grow 6.5-7 pc through FY27 over infra, consumption push
India`s GDP to grow 6.5-7 pc through FY27 over infra, consumption push
Source: IANS
2024-11-15 10:37:30 am
India`s WPI inflation edges up to 2.36 pc in Oct India’s inflation rate, based on the Wholesale Price Index (WPI), rose to 2.36% in October this year, compared to the same month of the previous year on the back of higher food prices, figures released by the Commerce and Industry Ministry on Thursday showed.  Inflation in October has risen from 1.84 per cent in September, primarily due to an increase in prices of food articles which jumped by 13.57 per cent during the month as vegetables such as potatoes and onions turned costl...
India`s WPI inflation edges up to 2.36 pc in Oct
India`s WPI inflation edges up to 2.36 pc in Oct
Source: IANS
2024-11-14 04:37:51 pm
India`s Oct wholesale inflation accelerates to four-month high India's wholesale price-based inflation accelerated to a four-month high of 2.36% year on year in October due to elevated food prices, government data released on Thursday showed. Inflation for October was higher than the 2.2% projected by economists in a Reuters poll, and up from 1.84% in September. Food prices rose 11.6% year on year, compared to a 9.5% gain in September, with vegetable prices soaring 63% on-year, compared to a 48.7% jump in September. Cereal prices rose 7.9% over la...
India`s Oct wholesale inflation accelerates to four-month high
India`s Oct wholesale inflation accelerates to four-month high
Source: Reuters
2024-11-14 12:51:22 pm
India inflation to rise further to 5.81% on rising food costs Consumer price inflation in India climbed to a 14-month high of 5.81% in October primarily due to a spike in vegetable and edible oil prices, a Reuters poll of economists predicted, a shade below the central bank's tolerance threshold of 6.0%. Food prices, which make up nearly half of the inflation basket, likely increased at a faster pace last month. Tomatoes, a key ingredient in every Indian kitchen, are expected to have surged by double digits in price as uneven rains disrupted prod...
India inflation to rise further to 5.81% on rising food costs
India inflation to rise further to 5.81% on rising food costs
Source: Reuters
2024-11-11 05:28:44 pm
India inflation to rise further to 5.81% on rising food costs Consumer price inflation in India climbed to a 14-month high of 5.81% in October primarily due to a spike in vegetable and edible oil prices, a Reuters poll of economists predicted, a shade below the central bank's tolerance threshold of 6.0%. Food prices, which make up nearly half of the inflation basket, likely increased at a faster pace last month. Tomatoes, a key ingredient in every Indian kitchen, are expected to have surged by double digits in price as uneven rains disrupted prod...
India inflation to rise further to 5.81% on rising food costs
India inflation to rise further to 5.81% on rising food costs
Source: Reuters
2024-11-11 09:08:02 am
India inflation to rise further to 5.81% on rising food costs  Consumer price inflation in India climbed to a 14-month high of 5.81% in October primarily due to a spike in vegetable and edible oil prices, a Reuters poll of economists predicted, a shade below the central bank's tolerance threshold of 6.0%. Food prices, which make up nearly half of the inflation basket, likely increased at a faster pace last month. Tomatoes, a key ingredient in every Indian kitchen, are expected to have surged by double digits in price as uneven rains disrupte...
India inflation to rise further to 5.81% on rising food costs
India inflation to rise further to 5.81% on rising food costs
Source: Reuters
2024-11-08 06:06:09 pm
RBI Governor rules out immediate rate cut as inflation still a concern  Reserve Bank of India Governor Shaktikanta Das on Wednesday said that although the central bank had shifted towards a softer neutral monetary policy stance to spur growth, this did not mean that an interest rate cut would happen immediately.  Addressing a media event here, the RBI Governor said: "A change in stance doesn't mean there will be a rate cut in the very next monetary policy meeting." He said there were still significant upside risks to inflation and &...
RBI Governor rules out immediate rate cut as inflation still a concern
RBI Governor rules out immediate rate cut as inflation still a concern
Source: IANS
2024-11-06 04:32:55 pm
India economic activity remains strong, cenbank governor says, amid growth concerns Economic activity in India remains strong, with the agriculture and services sectors doing well, India's central bank governor said on Wednesday, commenting on fears of slowing growth. Inflation, however, remains a challenge and the next move on interest rates must be weighed carefully, Shaktikanta Das, governor of the Reserve Bank of India, said at an event. "(Economic) data which is coming in is mixed. But the positives outweigh the negatives and, by and large, underlying act...
India economic activity remains strong, cenbank governor says, amid growth concerns
India economic activity remains strong, cenbank governor says, amid growth concerns
Source: Reuters
2024-11-06 02:15:45 pm
RBI to cut rates in December to 6.25%, say narrow majority of economists India's central bank will cut its key policy rate in December by a quarter point to 6.25% to bolster slowing economic growth, according to a slim majority of economists in a Reuters poll who also expect inflation to moderate in the near-term. Inflation unexpectedly spiked to 5.49% in September, but was forecast to cool to an average 4.9% this quarter and drop to 4.6% in January-March, giving the Reserve Bank of India (RBI) room to ease policy. The central bank has held interest rate...
RBI to cut rates in December to 6.25%, say narrow majority of economists
RBI to cut rates in December to 6.25%, say narrow majority of economists
Source: Reuters
2024-10-30 09:08:26 am
Retail inflation for farm and rural labourers marginally up in September The retail inflation rate for farm and rural workers reached 6.36 per cent and 6.39 per cent in the month of September, compared to 6.70 per cent and 6.55 per cent in the same month last year, the government said on Tuesday.  The corresponding figures for August were 5.96 per cent for agricultural labourers and 6.08 per cent for rural labourers, according to the Labour Ministry data. The All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL)...
Retail inflation for farm and rural labourers marginally up in September
Retail inflation for farm and rural labourers marginally up in September
Source: IANS
2024-10-23 10:05:40 am
Not complacent amid rapidly evolving global conditions: Shaktikanta Das  As the Indian economy continues to present a picture of stability and strength, the Reserve Bank of India (RBI) Governor Shaktikanta Das has stressed that they are not complacent, especially amid rapidly evolving global conditions.  According to him, the balance between inflation and growth is well-poised and India’s growth story remains intact. “Inflation is on a declining path, although we still have a distance to cover. The external sector demonstrates the stre...
Not complacent amid rapidly evolving global conditions: Shaktikanta Das
Not complacent amid rapidly evolving global conditions: Shaktikanta Das
Source: IANS
2024-10-22 03:39:16 pm
India`s growth story remains intact, real GDP likely to grow at 7.2 pc in FY25: RBI Governor India’s growth story remains intact as its fundamental drivers – consumption and investment demand – are gaining momentum, the RBI Governor Shaktikanta Das has stressed, adding that the country is likely to see real GDP growth at 7.2 per cent for FY 2024-25.  Prospects of private consumption, the mainstay of aggregate demand, look bright on the back of improved agricultural outlook and rural demand. Sustained buoyancy in services would also support urban demand. G...
India`s growth story remains intact, real GDP likely to grow at 7.2 pc in FY25: RBI Governor
India`s growth story remains intact, real GDP likely to grow at 7.2 pc in FY25: RBI Governor
Source: IANS
2024-10-22 11:31:12 am
Interest rate cut at this stage would be `premature,` India cenbank chief says The head of India's central bank said on Friday that it would be "very premature" and risky to lower interest rates at this stage. While inflation is expected to moderate going forward, the central bank would only think of rate cuts when it has confidence that inflation is durably aligned to its medium-term target, Governor Shaktikanta Das said at an event in Mumbai. The central bank is not "behind the curve" in terms of monetary policy and would base its decisio...
Interest rate cut at this stage would be `premature,` India cenbank chief says
Interest rate cut at this stage would be `premature,` India cenbank chief says
Source: Reuters
2024-10-19 09:29:22 am
Gold’s share in India’s forex surges more than 209 pc since 2018 As India’s foreign exchange reserves surpassed $700 billion, the share of gold in the country's forex has also surged more than 209 per cent since 2018.  India’s gold reserves stands at $65.76 billion (as on October 4), compared to $21.15 billion as on December 7, 2018, according to the Reserve Bank of India (RBI) data. Shaktikanta Das assumed the RBI office in December 2018. Under his tenure, forex also went up 78 per cent. The total foreign exchange reserves of In...
Gold’s share in India’s forex surges more than 209 pc since 2018
Gold’s share in India’s forex surges more than 209 pc since 2018
Source: IANS
2024-10-17 10:34:52 am