RBI MPC Updates: Shaktikanta Das headlines inflation, says no room for knee-jerk reactions

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

1:44 PM

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 into what looks to be a globally turbulent 2025.

1:42 PM

RBI Monetary Policy Meeting: FDI In India Increased

RBI Governor Shaktikanta Das highlighted the performance of India's external financing during the first half of the year, noting a strong rise in gross foreign direct investment (FDI). However, net FDI saw a decline due to increased repatriations and higher outward FDI. Foreign portfolio investment (FPI) inflows into Emerging Market Economies (EMEs) showed a general slowdown in October 2024. Despite this trend, India recorded net FPI inflows of $9.3 billion in FY25 (April-December), primarily driven by investments in the debt segment. External commercial borrowings and non-resident deposits also posted higher net inflows compared to the previous year. "India’s external sector continues to demonstrate resilience, as evidenced by its strong performance across various key indicators," Das stated.

1:39 PM

BSE shares extend rally, surge 18% in 2 days; nearly double within 3 months

Shares of BSE hit a new high of Rs 5,409.65, gaining 4 per cent on the National Stock Exchange (NSE) in Friday’s intra-day trade backed by heavy volumes. In the past two days, the stock price of exchange and data platform company has rallied 18 per cent. It surpassed its previous high of Rs 4,989.80 touched on October 14, 2024. 

1:22 PM

What does RBI's policy decision mean for the markets? Experts weigh

The Reserve Bank of India (RBI) today, December 6, in its policy decision kept the repo rate unchanged at 6.5 per cent but cut the cash reserve ratio (CRR) by 50 basis points (bps) to 4 per cent. The CRR is the percentage of a bank's total deposits that it is required to maintain in liquid cash with the RBI as a reserve.

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1:20 PM

RBI allows small finance banks to offer pre-sanctioned credit via UPI

RBI Governor Shaktikanta Das, following the Monetary Policy Committee (MPC) meeting on Friday, December 6, announced that Small Finance Banks (SFBs) will now be permitted to provide pre-sanctioned credit lines through the Unified Payments Interface (UPI). This move aims to support underserved groups, including small businesses, micro-entrepreneurs, and individuals in rural and semi-urban regions.

 

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1:13 PM

What did RBI Governor Shaktikanta Das say about his tenure extension?

Reserve Bank of India (RBI) Governor Shaktikanta Das shared a light-hearted moment when a Business Standard reporter asked him about his term extension at the press briefing after the Monetary Policy Committee (MPC) meeting on Friday. When asked whether he would receive an extension on his term, the governor dodged the question with a smile, saying, “I’m not giving you any headline today.” During the question-and-answer session, the reporter asked about Das’s tenure, which is set to end on December 10.

 

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1:08 PM

Forex reserve is strong and a large part of recent depletion due to valuation losses, says RBI Governor

12:54 PM

Mule Hunter is AI infrastructure. It will use database to detect frauds: RBI Dy Governor

RBI's idea of rolling out Mule Hunter is to create an infra base: RBI Deputy Governor

12:52 PM

'De-dollarisation' not on the table at all, certainly not our objective: RBI Guv

12:50 PM

Cannot predict how the forex market will play out: RBI Governor Shaktikanta Das

12:50 PM

Our forex reserves are robust despite some losses; confident of dealing with any spillover: Das

12:46 PM

No scope for knee-jerk reactions, we need more evidence before taking any monetary policy action: Governor Das

12:46 PM

RBI MPC LIVE: Marginal Standing Facility rate unchanged at 6.25%

12:45 PM

The horse (inflation) has made a valiant effort to bolt out, our effort is to keep it on tight leash: RBI Guv

12:43 PM

Credibility of inflation target has to be preserved: RBI Governor Shaktikanta Das