RBI MPC LIVE updates: Roughly 50% of Rs 2000 notes have come back, says Das

RBI MPC Policy LIVE: Catch live updates from RBI's monetary policy announcement here

11:36 AM

Indian shares rise after RBI keeps repo rate unchanged at 6.5%

Indian shares rose on Thursday, with the benchmarks closing in on all-time highs, after the Reserve Bank of India (RBI) maintained key policy rates, as widely expected. The blue-chip Nifty 50 index was up 0.23% at 18,770.20 as of 10:44 a.m. IST, while the benchmark S&P BSE Sensex rose 0.23% to 63,285.99. Both the indexes were up 0.12% ahead of the RBI rate decision.

The RBI's monetary policy committee (MPC) left the repo rate at 6.50% for a second straight meeting. Read more...

11:25 AM

Explained: Repo rate unchanged at 6.5%, worst over for home loan borrowers

A repo rate pause signals that the RBI is maintaining a status quo until the economy improves substantially. This is good news for home loan borrowers as it signals that interest rates appear to be stabilising. Read more...

10:47 AM

RBI to issue RuPay forex cards, guidelines on default loss guarantee arrangement in digital lending

The RBI will issue guidelines on default loss guarantee arrangement in digital lending for orderly development of the eco-system and improve credit penetration, Governor Shaktikanta Das said. 

10:45 AM

Scheduled Commercial Banks can now set their own limits for borrowing: RBI Guv

To provide greater flexibility in liquidity management, the scheduled commercial banks (SCBs) excluding small finance banks can now set their own limits for borrowing in call and notice market within the prudential limits, RBI Governor Shaktikanta Das said. 

10:36 AM

Goal is to achieve inflation target of 4%, keeping inflation within comfort band of 2-6% is not enough: Das

In his speech, Das also said that India's forex reserves stood at $595.1 billion on June 2. Moreover, the current account deficit is expected to have moderated further in the last quarter of the previous financial year and "should be eminently manageable" in FY24.

"Our goal is to achieve the inflation target of 4% and keeping inflation within the comfort band of 2-6% is not enough," Das said. Read more...

 

 

10:30 AM

Forex reserves are at comfortable levels, says RBI Governor

Indian rupee has remained stable since January this year, the RBI Governor said.  Domestic demand condition remains supportive of growth; rural demand on revival path, he added. 

 

10:29 AM

Current account deficit expected to moderate further in Q4, remains eminently manageable: RBI Guv

Current account deficit expected to moderate further in Q4, remains eminently manageable, says RBI Guv

10:26 AM

Need to maintain Arjuna's eye on evolving inflation scenario, says RBI Guv

RBI lowers retial inflation projection to 5.1% during FY'24 from earlier estimate of 5.2%

 

 

10:23 AM

RBI keeps MSF rate unchanged at 6.75%

Average system liquidity is in surplus mode and could increase as Rs 2,000 notes get deposited in banks, the RBI Guv said. The RBI has kept MSF rate unchanged at 6.75%.

 

 

10:17 AM

RBI Policy: MPC votes to extend pause, keeps repo rate unchanged at 6.5%

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), on Thursday, announced its decision not to raise the repo rate. While announcing the decision, RBI Governor Shaktikanta Das said that the MPC took the decision unanimously.

"The MPC decided unanimously to keep the policy change unchanged at 6.5 per cent," Das said. 

 

He added that the MPC decided, by a majority of 5 out of 6, to continue with its stance of "withdrawal of accommodation". The MPC will take further decisions "promptly and appropriately as required," he added. Read more...

 

 

10:16 AM

GDP projection unchanged in FY24 at 6.50%, says RBI Governor

GDP projection unchanged in FY24 at 6.50%, says RBI Governor. RBI retains growth projection at 6.5% for FY'24, expects 8% growth in Q1, 6.5% in Q2, 6% in Q3 and 5.7% in Q4

10:14 AM

Headline inflation is still above target and is expected to remain so according to our projections: RBI Guv

Headline inflation is still above the target as per the latest data and is expected to remain so according to our projections, says the RBI Guv

10:13 AM

Close and continued vigil on evolving inflation is absolutely necessary: RBI Guv

Pace of global economic activity to decelerate due to geopolitical situation, says RBI Guv. MPC decided to remain focussed on withdrawal of accommodation of policy stance, he added.

 

 

10:09 AM

MPC decided by a majority of 5 out of 6 members to remain focused on withdrawal of accomodation

MPC has decided by a majority of five out of 6 members to remain focused on withdrawal of accomodation, says the RBI Governor 

10:08 AM

We can derive satisfaction from the fact that Indian economy and fin sector stand out as resilient, says Das

We can derive satisfaction from the fact that Indian economy and financial sector stand out as resilient. RBI has continued on focusing stability. Domestic macro fundamentals are strengthening, says RBI Governor Shaktikanta Das