Page 4 - Rbi Governor

RBI MPC changes stance to neutral; keeps repo rate unchanged at 6.5%

MPC to 'remain unambiguously focused' on a durable alignment of inflation with the target, while supporting growth

All eyes on govt as RBI Guv Das, Dy Guv Patra's terms near expiry

Govt extends M Rajeshwar Rao's term by one year

Raghuram Rajan opposes excluding food inflation in setting interest rates

Amid suggestions for excluding food inflation while setting benchmark interest rates, former RBI Governor Raghuram Rajan has said that he is against excluding food prices from headline inflation, as it would erode the 'great faith' of people in the central bank, which has been mandated by the government to keep inflation in check. Rajan further said it is best that inflation target a basket which is what the consumer consumes because that affects the consumers perception of inflation and ultimately inflationary expectations. "When I came into office, we were still targeting PPI (producer price index). Now that has no bearing to what the average consumer faces. "So, when the RBI says inflation is low, look at PPI, but if the consumer is facing something very different, then they do not really believe that inflation is down," he told PTI. Rajan was responding to a question on suggestions made in the Economic Survey 2023-24 for excluding food inflation while setting benchmark interest

Strong fundamentals crucial amid global unrest: RBI Guv Shaktikanta Das

Have larger responsibility of maintaining financial stability'

RBI Guv Das stabilises volatile rupee with $689 billion forex reserves

India's current account deficit has also narrowed recently thanks to cheaper oil from Russia and global firms setting up service hubs

Have distance to cover on inflation, can't look other way: RBI Governor

Central bank in no rush to cut rates as projections say inflation is moderating, says Shaktikanta Das

Trigger happy regulator? RBI Dy Guv says action to protect customers

In recent years, the regulator has imposed business restrictions and barred entities from onboarding new customers for violating norms and causing customer inconvenience

India can't rely on wealthy to drive growth: Ex-RBI Dy Guv Viral Acharya

Acharya further said that India's consumption and GDP growth have struggled to recover to pre-COVID levels, with rural areas particularly lagging behind urban centres

Confident RBI's growth projection will materialise in coming quarters: Das

The slowing of India's economic growth to a 15-month low of 6.7 per cent in the April-June quarter was due to "lower" government spending in the wake of the enforcement of the model code of conduct for the recent Lok Sabha polls, RBI Governor Shaktikanta Das said here on Saturday. The RBI had projected a growth rate of 7.1 per cent for the April-June quarter of this fiscal. "The Reserve Bank projected a growth rate of 7.1 per cent for the first quarter. However, the first advance estimation data released by the National Statistical Office showed the growth rate at 6.7 per cent," Das told reporters here. The components and main drivers responsible for the GDP growth like consumption, investment, manufacturing, services and construction have registered a growth of more than 7 per cent, he said. Only two aspects have pulled the growth rate slightly down. Those aregovernment (both central and state) expenditure and agriculture, the RBI governor pointed out. He said the government ...

UPI likely to grow further in several countries, says RBI Guv Das

Reserve Bank Governor Shaktikanta Das on Friday evening said he is optimistic that the Unified Payments Interface (UPI) will grow further in several countries. Das, who is on a five-day visit to the state, said UPI is already present in many countries through QR codes and the linkage of fast payments systems, and discussions are underway with several other nations. We expect this to grow further at the global level and internationalise in future, he told reporters here. Speaking at an event in Mumbai on Wednesday, Das had said that notable progress in this direction has already been made with countries like Bhutan, Nepal, Sri Lanka, Singapore, the UAE, Mauritius, Namibia, Peru, France and a few others for acceptance of RuPay cards and payments through the UPI network. These endeavours, he said, underscore collaborative efforts for the adoption of India's initiatives across the globe.

Technology may drive fulfillment of every citizen's aspirations: RBI Guv

Das further said that digital technologies have played a crucial role in advancing financial inclusion, enhancing efficiency, and delivering real-time services nationwide

Financial institutions should deploy measures to help MSMEs: RBI dy guv

Restructuring, grace periods and tailored repayment plans can be used as tools, says Swaminathan

Bandhan Bank announces launch of exclusive savings account for women 'Avni'

The launch comes on the back of the Reserve Bank of India governor Shaktikanta Das asking banks to offer innovative products and service offerings

RBI Governor alerts banks to manage liquidity as credit outpaces deposits

RBI deputy guv Rao bats for need to periodically raise deposit insurance

An alternative targeted insurance approach with full coverage for certain sections of customers like small depositors and senior citizens can be explored

Today, India is far more resilient than what it was earlier, says RBI

India has improved its resilience vis-a-vis external shocks quite a bit, Das said

Banks should offer innovative products, service to garner deposits: Das

However, the governor did not give any specific instructions as far as interest rates on deposits are concerned

RBI guv warns on deposit growth, urges banks to innovate fund mobilisation

Concerned over household savings moving towards alternative investment avenues, RBI Governor Shaktikanta Das on Thursday asked banks to mobilise deposits through innovative products and services by leveraging their vast branch network. "Banks are taking greater recourse to short-term non-retail deposits and other instruments of liability to meet the incremental credit demand. This, as I emphasised elsewhere, may potentially expose the banking system to structural liquidity issues," he said. Observing that alternative investment avenues are becoming more attractive to retail customers, he said, as a result banks are facing challenges on the funding front with deposits trailing loan growth. Banks, he said, need to focus more on mobilisation of household financial savings through innovative products and service offerings and by leveraging fully their vast branch network. Expressing concern over high growth in 'top-up' housing loans, Das said the regulatory prescriptions relating to lo

RBI Governor Das for reskilling, upskilling amid digitalisation push

Goal is to balance effective regulation with fostering financial innovations in a safe, robust and trustworthy ecosystem, the RBI governor said

Scaling the economic ladder: Indian savings climb, yet rungs remain

For instance, only 15 per cent of US households' assets are in banks, compared to 46 per cent in South Korea