RBI MPC highlights: Last mile of our journey towards 4% inflation target is sticky, says Governor

RBI MPC Meeting highlights: RBI Monetary Policy Committee (MPC) kept the repo rate unchanged at 6.5% for the eight consecutive time and will continue with its stance of 'withdrawal of accommodation.'

12:51 PM

Banks should invest adequately in IT infra in line with biz growth to cut outages, says Das

RBI does not prescribe minimum investment but banks should invest adequately in IT infra in line with biz growth to cut outages, says Governor Das.

12:46 PM

RBI monetary policy LIVE: Nothing off the table, says RBI Deputy Governor Patra

"We are not seeing signs of overheating in terms of growth. Nothing is off the table", RBI Deputy Governor Michael Patra stated in the press conference, on the topic of repo rate hike or cut.

12:42 PM

We would like inflation to align with RBI target, stay there, says Governor Das

Last mile of our journey towards 4 per cent inflation target is sticky, RBI Governor Das said today. 

12:32 PM

Will wait for inflation to stabilise around 4% before taking policy action: Governor Das

RBI Governor Das refuses to give indication on rate cut, saying will wait for inflation to stabilise around 4 per cent before taking policy action.

12:30 PM

RBI Press meet: Michael Patra on economy over heating

No signs of over-heating; Growth yet to catch up with pre-pandemic levels, says Michael Patra.

12:07 PM

5 key takeaways from RBI MPC announcement

Following the Monetary Policy Committee (MPC) meeting, RBI Governor Shaktikanta Das said, “The Monetary Policy Committee decided by a 4:2 majority to keep the policy repo rate unchanged at 6.5 per cent. Consequently, the standing deposit facility (SDF) rate remains at 6.25 per cent, and the marginal standing facility (MSF) rate and the bank rate at 6.75 per cent.” Read a detailed story on the key takeaways from RBI MPC announcement here.

12:02 PM

Expect the accommodative stance post the full budget announcement in July, says LKP Securities

"As expected, the RBI has kept the policy rate unchanged at 6.5% by eight consecutive times with a majority vote of 4:2. The MPC has continued with the stance of withdrawal of accommodation. The FY25 CPI inflation forecasted at 4.5%, whereas the GDP growth revised upward to 7.2% versus 7.0% estimated earlier. The food inflation remains higher which is likely to cool off with normal monsoon. We expect the accommodative stance post the full budget announcement on July 24. Additionally the food inflation will be key monitorable," Ajit Kumar Kabi, Research Analyst - BFSI, LKP Securities, said today.

11:54 AM

External demand should get a fillip from improving prospects of global trade: RBI Governor

RBI Governor Shaktikanta Das  also emphasised that the healthy balance sheets of banks and corporates, the government's continued thrust on capex, high capacity utilisation, and business optimism augur well for investment activity. External demand should get a fillip from improving prospects of global trade, the governor said.

11:44 AM

Banking sector, NBFCs and overall financial sector remain robust: RBI Governor

On the health of the Indian banking sector, Shaktikanta Das said that the banking system remains resilient, backed by sound asset quality and rise in profitability. "The NBFCs have displayed strong financials in FY24," he said. The banking sector, NBFCs and overall financial sector remain robust, the governor added.

11:42 AM

RBI MPC LIVE: We play the game according to local weather and pitch conditions, says RBI Governor

"I would like to unambiguously state that while we do keep a watch on whether clouds are building up or clearing out in the distant horizon, we play the game according to the local weather and pitch conditions. In other words, while we do consider the impact of monetary policy in advanced economies on Indian markets, our actions are primarily determined by domestic growth-inflation conditions and the outlook," RBI Governor Shaktikanta Das said today

11:01 AM

Uncertainties related to food inflation need to be monitored: Das

RBI Governor Shaktikanta Das said that  food inflation remains a big worry for the RBI. "Uncertainties related to food inflation need to be monitored. Need inflation reduction to 4 per cent level on a durable basis while supporting growth," Das said.

10:55 AM

Some moderation in unsecured retail loans following RBI's November measures: Governor Das

 There is some moderation in unsecured retail loans following RBI's November measures, said RBI Governor Shaktikanta Das in his monetary policy speech.

10:39 AM

RBI Policy June 7 LIVE: India on right track on inflation but caution to be maintained, says RBI Governor

 RBI retained inflation estimates for FY25 at 4.5%.

 

-Q1FY25 inflation estimates retained at 4.9%

 

-Q2FY25 inflation estimates retained at 3.8%

 

-Q3FY25 inflation estimates retained at 4.6%

 

-Q4FY25 inflation estimates retained at 4.5%

10:37 AM

Repeated food price shocks slowed down disinflation process: RBI Governor Shaktikanta Das

"FY25 domestic economic activity has maintained resilience," Shaktikanta Das said.  "Headline inflation continues to be in a disinflation trajectory; repeated food price shocks slowed down disinflation process," Das added.

10:34 AM

RBI Policy Live: To set up a digital payments intelligence platform, says RBI Governor