MPC Meet

RBI Monetary Policy Meeting Dec 2024 Updates: Catch all the updates here

The Reserve Bank on Friday announced a raise in the interest rate caps on the diaspora's foreign currency deposits, in a move aimed at attracting more capital flows amid pressures on the rupee. Announcing the fifth bi-monthly monetary policy for the current financial year, RBI Governor Shaktikanta Das said it has been decided to increase the interest rate ceilings on Foreign Currency Non-Resident Bank deposits or FCNR (B) deposits as per tenors. It can be noted that the move comes at a time when rupee has been hitting lifetime lows against the dollar, and the Reserve Bank of India (RBI) seems to be deploying forex reserves to contain the volatilities, as seen in the sharp fall in the kitty over the last few weeks. Starting from Friday, banks have been now permitted to raise fresh FCNR (B) deposits of 1 year to less than 3 years maturity at rates not exceeding Overnight Alternative Reference Rate (ARR) plus 400 basis points, as against 250 basis points earlier. Similarly, deposits w

The preceding week ended on a positive note for equity benchmarks. On Friday, the BSE Sensex surged 0.96 per cent to close at 79,802.79, while Nifty also gained 0.91 per cent to settle at 24,131.10

Regulator closely monitoring situation and will not hesitate to take appropriate action, he says

RBI Monetary Policy Meeting October 2024 highlights: Catch all the latest news updates on RBI's monetary policy announcements here

At 6:34 AM, GIFT Nifty Futures were trading 25 points higher at 25,157, suggesting a flat to positive start for Indian markets.

Reserve Bank Governor Shaktikanta Das on Thursday said he expects new external members of the monetary policy committee to be appointed in time. Speaking to reporters on the sidelines of the annual Fibac event here, Das said the meeting of the Monetary Policy Committee (MPC) -- scheduled to take place from October 7 -- can only take place when the members are in place. "New members obviously have to be appointed then only we can hold the meeting. It should happen. We expect the new members to be in place in time," the governor said. The four-year term of three external members -- Ashima Goyal, Jayanth Varma and Shashank Bhide -- is coming to an end on October 4. The appointments to the panel are made by the government. The MPC is chaired by the governor and has six members. The RBI has three representatives, including the governor, while the other three are external members. The members vote on the rate call before the resolution is made public, and the governor has the casting vo

The selection panel, comprising the governor of the Reserve Bank of India and government officials, will recommend probable candidates in the next two weeks

Cheques will be scanned, presented, and passed in a few hours and on a continuous basis during business hours, says RBI Governor Shaktikanta Das

RBI Monetary Policy Meeting 2024: Catch all the latest highlights on RBI's monetary policy announcements here

Monetary policy stance retained at 'withdrawal of accommodation' to aid the MPC's focus on bringing inflation towards the target

RBI MPC policy meet: The Reserve Bank of India (RBI) is expected to hold the rate at 6.5 per cent again amid inflationary pressures. However, a cut may be possible going ahead

RBI MPC meeting: A Business Standard poll earlier indicated that economic experts anticipate that the RBI is expected to maintain this status quo for the ninth consecutive policy review

Following the outcome of the Lok Sabha Elections, concerns have escalated over a potential deceleration in fiscal consolidation coupled with amplified welfare spending

The expectations for the RBI panel to begin cutting interest rates soon are there, however, the exact timing remains uncertain

Domestically, however the economy continues on a strong footing

At 10:39 am; the Nifty Bank, Nifty Financial Services, Nifty PSU Bank, Nifty Private Bank and Nifty Realty index are trading in green and quoting higher by up to 1.7 per cent

The RBI MPC has also decided to keep its stance of "withdrawal of accommodation" unchanged with a majority of 5-1

As the RBI announces its latest monetary policy stance, here are some key financial terms you should familiarise yourself with to understand their significance and potential implications

The Reserve Bank of India will likely keep its benchmark repurchase rate at 6.5 per cent for a seventh straight policy meeting, according to all 38 economists surveyed by Bloomberg