LIVE: More than 60 Congress MPs released after 6 hours of detention

Latest news Live updates: Former Congress chief Rahul Gandhi, Priyanka Gandhi Vadra, K C Venugopal, Adhir Ranjan Chowdhury and Gaurav Gogoi were among the MPs detained

10:28 AM

India's foreign exchange reserve remains 4th-largest globally: RBI Guv Das

India's foreign exchange reserve remains the fourth-largest globally despite the drawdown to limit rupee volatility, RBI Governor Shaktikanta Das said. 

 

10:23 AM

Bank credit growth accelerates 14% against 5% a year ago: RBI

The bank credit growth has accelerated 14 per cent as against 5.5 per cent a year ago, RBI Governor Shaktikanta Das said

 

10:20 AM

CPI inflation for next fiscal year at 5%: RBI

Das said that the consumer price inflation remains uncomfortably high and inflation is expected to remain above 6 per cent. He projected that CPI inflation for FY2023-24 will remain at 5 per cent.

10:19 AM

MSF and Bank rates revised to 5.65% from 5.15%

RBI MPC revised the standing deposit facility (SDF) rate to 5.15 per cent, and Marginal Standing Facility (MSF) and bank rates to 5.65 per cent from 5.15 per cent, announced Governor Shaktikanta Das.

 

10:16 AM

GDP projection for FY23 retained at 7.2%, says RBI Guv Das

The real GDP projection for FY23 was retained at 7.2 per cent with Q1 at 16.2 per cent Q2 at 6.2 per cent Q3 at 4.1 per cent Q4 at 4 per cent with risks broadly balanced, RBI Governor Shaktikanta Das says

 

10:11 AM

RBI MPC withdraws accommodative stance to keep inflation in check

The bi-monthly meeting of the RBI MPC started on Wednesday, and RBI Governor Shaktikanta Das on Friday announced that the MPC unanimously decided to hike the policy rate by 50 basis points. Das said, "MPC decided to focus on withdrawal of accommodation to keep inflation within target while supporting growth"

10:08 AM

RBI hikes key lending repo rate by 50 bps to 5.40%

The Reserve Bank of India (RBI) in the Monetary Policy Committee’s (MPC’s) statement on Friday announced a rate hike of 50 basis points to 5.40 per cent. The bi-monthly meeting of the RBI MPC started on Wednesday, and RBI Governor Shaktikanta Das on Friday announced that marginal spending facility rate and the bank rate were revised to 5.65 per cent. 

 

10:06 AM

India expected to be amongst fastest growing economies this fiscal year

India is expected to be the amongst the fastest growing economies in the current fiscal year as per the IMF projections, RBI Governor Shaktikanta Das said

9:28 AM

Rupee rises in early trade, at 79.15 against US dollar

The rupee rose higher, at 79.15 against the US dollar ahead of RBI's monetary policy decision today

9:20 AM

RBI's first increase of repo rate in 2 years was in May

To cushion the impact of Covid-induced lockdown, the central bank slashed the repo rate in March 2020, and maintained the status-quo in the benchmark interest rate for almost two years. It first increased its key lending rate in two years since Covid on May 4, 2022.

 

9:04 AM

Third hike by RBI in policy repo rate expected today

If the Reserve Bank of India hikes the policy repo rate today, this will be the third hike in a row in the current financial year.

8:58 AM

Reserve Bank's MPC in May increased repo rate by 40 bps

The RBI in its off-cycle monetary policy review in May had hiked the policy repo rate by 40 basis points or 0.40 per cent.

8:45 AM

Congress to hold nationwide protest against unemployment, inflation

8:22 AM

RBI likely to hike key interest rates today

The Reserve Bank of India (RBI) in the Monetary Policy Committee’s (MPC’s) statement on Friday is expected to announce another rate hike by 35-50 basis points to tame the inflationary pressure and protect against further rupee depreciation.