Page 6 - Shaktikanta Das

Short-sellers may target banks with large CRE exposure: RBI governor Das

'We still have distance to cover,' Das says on inflation

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

'India's growth potential is above 7.5%': RBI Governor Shaktikanta Das

At a Singapore forum, RBI Governor Shaktikanta Das projected that India has a growth potential of at least 7.5%, slightly above the RBI's official 7.2% forecast for 2024-25

Strong fundamentals keep growth story intact: RBI guv Shaktikanta Das

"The potential of external demand can be leveraged by integrating into global supply chains," he said

Expect new members in MPC to be appointed in time, says RBI Guv Das

Reserve Bank Governor Shaktikanta Das on Thursday said he expects new external members of the monetary policy committee to be appointed in time. Speaking to reporters on the sidelines of the annual Fibac event here, Das said the meeting of the Monetary Policy Committee (MPC) -- scheduled to take place from October 7 -- can only take place when the members are in place. "New members obviously have to be appointed then only we can hold the meeting. It should happen. We expect the new members to be in place in time," the governor said. The four-year term of three external members -- Ashima Goyal, Jayanth Varma and Shashank Bhide -- is coming to an end on October 4. The appointments to the panel are made by the government. The MPC is chaired by the governor and has six members. The RBI has three representatives, including the governor, while the other three are external members. The members vote on the rate call before the resolution is made public, and the governor has the casting vo

RBI Guv headed FSDC reviews overall macroeconomic, financial developments

Reserve Bank Governor Shaktikanta Das headed the Sub-Committee of the Financial Stability and Development Council (FSDC-SC) on Thursday reviewed global and domestic macroeconomic and financial developments. It also reviewed issues relating to inter-regulatory coordination in the Indian financial sector, the RBI said in a statement after the 31st meeting of the FSDC Sub-Committee. "Members shared their assessments of potential risks to financial stability and discussed various issues that may have financial stability implications," it said. The Sub-Committee also reviewed the activities of various technical groups under its purview and the functioning of State-level Coordination Committees (SLCCs) in states/Union territories (UTs). It resolved to continue its focus on improving financial sector resilience through inter-regulatory coordination, while remaining watchful of emerging challenges to the economy and the financial system, including those from global spillovers, cyber hazard

Provide more employment opportunities to women, RBI Guv Das tells banks

Reserve Bank Governor Shaktikanta Das on Thursday said the financial sector can help in bridging the gender gap by providing more employment opportunities to women and creating tailored schemes for businesses promoted by them. Highlighting the importance of inclusive growth, the governor said a truly developed India must ensure that every citizen, regardless of their socio-economic status, has access to financial services and has the required financial literacy. In his inaugural address at the Annual FIBAC 2024 Conference organised jointly by FICCI and IBA, Das said India's female labour force participation remains lower than the global average. This gap, he said underscores the urgent need for targeted initiatives such as improving girls' education, skill development, workplace safety, and addressing societal barriers. He said entrepreneurship is a vital component of economic empowerment, yet in India, less than one fifth of micro, small and medium enterprises (MSMEs) are owned by

GDP to expand 7.2% in FY25 despite lower Q1 growth, says RBI Guv Das

Das said agriculture should perform better during the rest of the year due to a good monsoon and aid a further pick-up in rural demand

RBI board reviews global, domestic economy, associated challenges

The central board of the Reserve Bank of India on Wednesday reviewed the global and domestic economic scenario and outlook, including associated challenges. The 610th meeting of the Central Board of Directors of the Reserve Bank of India was held here under the chairmanship of Governor Shaktikanta Das, it said in a statement. "The Board also reviewed various areas of operations of the Reserve Bank of India including the functioning of Local Boards and activities of select central office departments," the RBI said. Deputy governors Michael Debabrata Patra, M Rajeshwar Rao, and T Rabi Sankar attended the meeting. Other directors of the central board Satish K Marathe, Revathy Iyer, Sachin Chaturvedi, Venu Srinivasan, Pankaj Ramanbhai Patel and Ravindra H Dholakia also attended the meeting. Ajay Seth, Secretary, the Department of Economic Affairs and Nagaraju Maddirala, Secretary, the Department of Financial Services, too attended the meeting.

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

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.

RBI to launch Unified Lending Interface to transform lending space: Das

There should not be in any rush to roll out system-wide CBDC before one acquires a comprehensive understanding of its impact, Das said

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 guv Shaktikanta Das ranked as top central banker for 2nd straight year

Reserve Bank of India Governor Shaktikanta Das has been ranked as the top central banker globally for the second consecutive year by US-based Global Finance magazine. "Happy to announce that for the 2nd consecutive year, RBI Governor @DasShaktikanta has been rated 'A+', in the Global Finance Central Banker Report Cards 2024," the RBI said in a post on X. Das has been placed at the top of the list of three central bank governors, who have been rated A+. Grades are based on a scale from A to F for success in inflation control, economic growth goals, currency stability and interest rate management, according to a statement by Global Finance magazine. An 'A' represents excellent performance, while an 'F' for outright failure. Denmark's Christian Kettel Thomsen, India's Shaktikanta Das and Switzerland's Thomas Jordan have been ranked under the 'A+' category of central bankers. "Central bankers have waged war against inflation over the past few years, wielding their primary weapon: hig

Cannot cut rates due to one-off inflation dip, says RBI governor Das

The six-member Monetary Policy Committee of the RBI has kept the policy repo rate unchanged at 6.5% since February 2023

PSBs target healthcare, housing to boost deposits with new lucrative deals

RBI Governor Shaktikanta Das highlighted at the press briefing that interest rates are deregulated and banks are free to decide on interest rates

PSBs trim branch network but private sector spreads its net, shows data

Das asked banks to use their branches effectively to mobilise deposits, highlighting the importance of brick-and-mortar structures

Sovereign green bonds trading at IFSC to start in 2nd half of FY25: RBI Guv

Reserve Bank Governor Shaktikanta Das on Saturday said trading of sovereign green bonds can commence at the International Financial Services Centre in Gujarat during the second half of the current fiscal. "We are in discussion with the IFSC, it will be operationalised very soon. I think in the second half (of the current financial year), it will be possible," Das said. In April, the Reserve Bank of India (RBI) had announced that it will issue a framework to enable the trading of sovereign green bonds in GIFT City. The government has been raising funds through green bonds since 2022-23 and has raised a total of Rs 36,000 crore in the last two years. So far in the current financial year, the government has raised only Rs 1,697 crore out of the stipulated Rs 12,000 crore scheduled to be raised in the first half ending in September through green bonds as it did not find favourable bids. Asked about the tepid response from investors to such bond issuance, Das said, "as the debt manager

Key highlights: RBI Monetary Policy Committee keeps repo rate unchanged at 6.5%

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