Page 13 - Rbi Governor

Digital lending firms should operate under licence granted: RBI governor

Central bank last month banned the loading of prepaid payment instruments from credit lines

Rupee holding up well relative to EM peers, advanced economies: RBI Guv

Reserve Bank Governor Shaktikanta Das on Friday said the rupee is holding up relatively well when compared to the currencies of emerging market peers and advanced economies. Days after the domestic currency breached the 80-level against the dollar, Das said Reserve Bank of India (RBI) has zero tolerance for volatile and bumpy movement in the rupee and added that the central bank actions have helped in smoother movement. He said RBI has been supplying US dollars to the market to ensure adequate supply of liquidity to the market and also clarified that the central bank does not target a particular level for the currency. Further, Das said there was no need to be alarmed by unhedged exposures on foreign borrowings. Bulk of such exposures are by state-owned companies and the government can pitch-in with help if need be, he added. According to him, the inflation targeting framework has worked well since adopting it in 2016 and stressed that the same should continue in the interest of th

R Gandhi, Gopalakrishnan cease to be directors on Yes Bank board: RBI

Former RBI Deputy Governor R Gandhi and professor Ananth Narayan Gopalakrishnan have ceased to be additional directors on the board of Yes Bank following a new board in place.

'RBI's rupee trade settlement a step towards internationalisation of rupee'

The announcement by the Reserve Bank of India (RBI) to allow cross border trade transactions in rupee is a timely move and a step towards internationalisation of the currency, according to experts.

Global cooperation needed to regulate crypto: Sitharaman tells Parliament

RBI has called cryptocurrencies a 'real danger', listing their risk in its annual report

RBI Governor asks states to find out effective ways to address debt issues

Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday asked state governments to find out effective ways to address the issues related to debt and cash management. The governor was addressing the 32nd Conference of the State Finance Secretaries (SFS) here. In his address, Das highlighted the importance of the SFS conference as an effective platform to deliberate on, and find out effective ways to address various issues relating to states' debt and cash management, RBI said in a statement. He emphasised on the need for the states to adopt prudent borrowing strategy and efficient cash management practices, keeping in view the evolving macroeconomic scenarios. Further, Das stressed on the need for the states to focus on improving quality of expenditures, better handling and monitoring of contingent liabilities and improving the governance in the cooperative banks. During the meeting, market borrowings by the states and administration of the Consolidated Sinking Fund/ Guara

Cryptocurrencies are a 'clear danger': RBI governor Shaktikanta Das

Indian fintech industry value projected to hit $150 bn by 2025

Cryptocurrencies a clear danger to financial systems, says RBI Governor

Anything that derives value based on make believe, without any underlying, is just speculation under a sophisticated name, says Shaktikanta Das

Central banks need stronger communication in turbulent times: RBI governor

Even short-term forecasting has become a challenge due to pandemic, says Shaktikanta Das

Govt won't offer tax waivers to be part of global bond index sooner

Under existing rules, an overseas investor is required to pay a short-term capital gains tax of 30% if a listed bond is sold within 12 months

High inflation weighed on MPC members as RBI raised rate: Minutes

RBI Governor Shaktikanta Das said while high inflation continues to be the major concern, revival of economic activity remains steady and is gaining traction

MPC minutes flag inflation worry; aim to bring CPI within target band by Q4

CPI inflation was 7.04% in May. In its June policy review, the MPC raised repo rate by 50 bps to 4.9%, taking the total tally of rate hikes since May to 90 bps

Targeting 'soft landing' for economy: RBI governor Shaktikanta Das

He countered arguments that the central bank should have acted early to tackle the price rise and that it was behind the curve

Top headlines: One dies in Agnipath protests, RBI defends policy pace

Business Standard brings you the top headlines this hour

RBI not behind curve, focus on inflation target could have been risky: Das

I feel that we are very much in line with the requirements of our time, the RBI has acted proactively: Shaktikanta Das

Early assessment of banking sector health encouraging: RBI deputy guv

"The asset quality of banks has improved and the gross NPAs and net NPAs of the banks have improved from the pre-pandemic levels," Rao said

RBI prioritising inflation over growth to maintain price levels: Official

The Reserve Bank of India is prioritising inflation over growth, which is manifested by the recent hikes in repo rate, an official of the central bank said on Friday. Speaking at an interactive session organised by the Merchants' Chamber of Commerce and Industry here, he also said financial markets across asset classes and geographies witnessed unprecedented volatility during the past two years due to the COVID-19 pandemic. "Central banks across the globe will raise interest rates in future owing to much higher than expected inflation. This is a major risk, said Radha Shyam Ratho, Executive Director, RBI. He said the RBI is giving priority to inflation over growth so that the level of price rise remains within targets without affecting growth. The apex bank had recently raised the interest rate by 50 basis points to a two-year high of 4.9 per cent. The rate hike came on the back of a 40 basis-point increase effected at an unscheduled meeting on May 4. Ratho said the bond market h

Expect current account deficit to remain at sustainable level: RBI Governor

The current account deficit (CAD) will remain at a sustainable level and the normal flows will help the Reserve Bank of India (RBI) to finance it, Governor Shaktikanta Das said on Wednesday. He also said the Indian economy is well placed to deal with geopolitical challenges. "We expect the current account deficit to remain at sustainable level and the normal flows will enable us to meet the financing of the current account deficit," Das told reporters during the post-policy press conference. The country's current account deficit increased to USD 23 billion, or 2.7 per cent of GDP, in the third quarter of FY 2021-22 from USD 9.9 billion or 1.3 per cent of GDP in the second quarter and USD 2.2 billion (0.3 per cent of GDP) in Q3 of fiscal 2020-21. The widening of CAD in Q3 FY22 was mainly on account of higher trade deficit. Das said there has been a rise in exports and imports. "Higher exports are the good signs of the economy. Higher imports also augur well and it means that there

I am sure govt is mindful of inflation situation: RBI Governor Das

RBI Guv Shaktikanta Das on Wednesday said the govt is "mindful" of the current inflation situation, and it is up to the Centre to take further supply-side measures to contain the price rise situation.

Ahead of consultation paper, RBI DG says CBDCs can kill case for cryptos

Ahead of the government coming out with a consultation paper on cryptocurrencies, Reserve Bank Deputy Governor T Rabi Sankar on Thursday said the soon-to-be-introduced CBDCs can kill crypto prospects