Bids totaling 2.7 times the notified amount were received at VRR auction on December 15
The Reserve Bank of India's board on Monday reviewed the prevailing economic and financial scenario, including the challenges posed by geopolitical developments. The 605th meeting of the Central Board of Directors of Reserve Bank of India was held today in Ekta Nagar (Kevadia) under the Chairmanship of Governor Shaktikanta Das. "The board reviewed the economic and financial scenario, both domestic and global, including the challenges posed by global geopolitical developments," the central bank said in a statement. It also discussed the activities of select central office departments and the draft report on trend and progress of banking in India, 2022-23. Directors on the central board Satish K Marathe, Revathy Iyer, Anand Gopal Mahindra and Ravindra H Dholakia attended the meeting. RBI Deputy Governors Michael Debabrata Patra, M Rajeshwar Rao, T Rabi Sankar, and Swaminathan J as well as Department of Economic Affairs Secretary Ajay Seth also participated in the meeting, the statem
While the economy seems to be on a firm growth path, the fight against inflation is not over yet. It has not even entered the last round
The Reserve Bank of India (RBI) governor Shaktikanta Das said that the move will come into effect on December 30
At the Business Standard BFSI Summit last month, RBI Governor Shaktikanta Das said that the Q2 GDP figure is likely to surprise everyone on the upside
Banks, NBFCs would be 'well advised to take precautionary measures in four areas, says Shaktikanta Das
'Banks and NBFCs must continue to do stress tests of their books,' RBI Governor Shaktikanata Das said on Wednesday
Venkitaramanan was born in Nagercoil, part of the Padmanathapuram division of the princely state of Travancore
The RBI's rate-setting panel has raised the repo rate by 250 basis points cumulatively between May 2022 and February 2023 to manage inflation expectations
Reserve Bank of India remains watchful and the monetary policy is actively disinflationary and supporting growth, Governor Shaktikanta Das said on Thursday. The government has mandated the RBI to ensure that inflation based on the Consumer Price Index (CPI) remains at 4 per cent with a margin of 2 per cent on either side. At a symposium in Tokyo, Das also talked about the central bank's approach to the fintech ecosystem, saying it is customer-centric. There is focus on good governance, ensuring effective oversight, ethical conduct and risk management, and encouraging self-regulation by the fintechs themselves through a Self-Regulatory Organisation (SRO), he said. Das said the Monetary Policy Committee (MPC) in its October meeting projected CPI inflation at 5.4 per cent for 2023-24, a moderation from 6.7 per cent in 2022-23. The CPI inflation fell to a three-month low of 5 per cent in September. The data for October is scheduled to be released on November 13. Headline inflation, .
Here is the best of Business Standard's opinion pieces for today
At BS BFSI Summit, Das expressed his concerns about regulating the use of cryptocurrencies and questioned the major tenets surrounding crypto terminology
BS BFSI Insight Summit 2023: Shaktikanta Das said India is better placed as compared to other countries to deal with risky geopolitical situations
The Central Board of Directors of the Reserve Bank of India on Friday reviewed economic and financial developments, including challenges posed by the evolving geopolitical conflicts. The 604th meeting of the board was held in Rishikesh under the Chairmanship of RBI Governor Shaktikanta Das. The board reviewed global and domestic economic and financial developments, including challenges posed by the evolving geopolitical conflicts, the central bank said in a statement. "The board also discussed the functioning of various sub-committees of the central board, the ombudsman scheme and activities of select central office departments," it added. Deputy governors Michael Debabrata Patra, M Rajeshwar Rao, T Rabi Sankar, and Swaminathan J attended the meeting. The other directors of the central board -- Revathy Iyer, Sachin Chaturvedi, Pankaj Ramanbhai Patel and Ravindra H Dholakia -- were also present in the meeting. Department of Economic Affairs Secretary Ajay Seth also participated th
Interest rate is likely to remain high for the moment, Reserve Bank Governor Shaktikanta Das said, stressing the central bank will remain extra vigilant and keep "Arjun's eye" to ensure a sustained decline in inflation. The lending rates are ruling high after the RBI cumulatively hiked the key policy rate (repo) by 250 basis points since May 2022 in a bid to tame inflation which touched a high of 7.44 per cent this July. The consumer price index (CPI) based retail inflation is now declining and fell to 5 per cent in September. The government has mandated the central bank to ensure inflation remains at 4 per cent with a margin of 2 per cent on the either side. "Interest rate will remain high. How long they will remain high, I think only time and the way the world is evolving will tell," the governor said in response to a query at Kautilya Economic Conclave 2023. On the sidelines of the Conclave, Das said the RBI remains very focused on the inflation dynamics. "We are extra vigilant
Reserve Bank of India Governor Shaktikanta Das was referring to the U.S. Treasury Department's regular foreign exchange report and similar research by the International Monetary Fund (IMF)
The SDF rate is 6.25 per cent, which is lower than the call money rate
Reserve Bank Governor Shaktikanta Das on Friday said 87 per cent of the Rs 2,000 denomination notes being withdrawn have returned as deposits into banks while the rest has been exchanged across counters. Addressing a press conference after the announcement of the bi-monthly monetary policy review, Das said Rs 12,000 crore of the Rs 3.56 lakh crore worth of Rs 2,000 notes in circulation as on May 19, 2023 are yet to come back. Last on Saturday, the RBI had said that Rs 3.42 lakh crore of notes had been received back as of September 29, and Rs 14,000 crore was yet to come back. The central bank had also extended the deadline for return of the notes by a week. Das said the RBI wants to "emphatically" focus on the 4 per cent headline inflation target, and till the price rise number does not get down, the monetary policy will be "actively disinflationary". As the banker to the government, the RBI does not have any worry on the central government finances, Das said. The "outlier" loan .
RBI policy: In the last bi-monthly announcement in August, the MPC decided to keep the benchmark repo rate unchanged at 6.5% for the third time in a row. Check all LIVE updates for today's MPC here
RBI Governor Shaktikanta Das-headed Monetary Policy Committee (MPC) started its three-day meeting on Wednesday amid expectations of a status quo on the rate front in its bi-monthly monetary policy review. The policy review will be announced on Friday morning. In case of a status quo, interest rates for retail, as well as corporate borrowers, would remain stable. Experts believe that the Reserve Bank will retain the benchmark rate at 6.5 per cent in view of the elevated inflation and global factors. The Reserve Bank started increasing the policy rate in May 2022 in tranches, in the wake of the Russia-Ukraine war and took it to 6.5 per cent in February this year. Since then, it has kept the rate unchanged in the last three successive bi-monthly monetary policy reviews. "The credit policy this time will most likely continue with the existing rate structure as well as policy stance. Hence, the repo rate will be retained at 6.5 per cent with the stance of withdrawal of accommodation," .