'Banks have been cautious. I think there is still some amount of liquidity sitting there', said Das
After unanimously pausing for the second time in a row, the Reserve Bank on Thursday reiterated that leaving the key rates and the stance unchanged is not a pivot but only a pause
In the aftermath of the pandemic, the RBI was tolerating inflation at the higher end of the band. Now, the focus is on bringing it down to the 4% target
RBI repo rate: RBI governor Shaktikanta Das said that the MPC decided unanimously to keep the benchmark rate unchanged at 6.5 per cent
RBI governor Shaktikanta Das added that out of all the notes that have been coming back, 85 per cent have come back in the form of bank deposits
The Indian rupee remained mostly unchanged after the policy decision, while the benchmark 10-year bond yield rose to 7.01%
RBI Monetary Policy: The rate-setting committee decided to continue with its stance of 'withdrawal of accommodation'
RBI policy: Shaktikanta Das will announce the MPC decision today at 10 am
RBI Monetary Policy: This will be the third time in 2023 that the MPC will announce its policy decision
Thursday's policy review will help shape the rupee's fortunes, with traders expecting little reprieve after the currency fell under the weight of a stronger greenback in May
The Governor of the RBI has for the first time provided a peek into the power structures within bank boards
We have come to the end of the rate-hike cycle. The speculation is on the timing of the first rate cut. It won't happen anytime soon
RBI governor asks them to plug gaps in governance
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Some banks had to temporarily halt exchanges of Rs 2,000 currency notes as they waited for supply of currency notes to be replenished
'Withdrawal of Rs 2K notes to be completed in non-disruptive manner'
Das said that India's GDP growth rate in FY23 may come out to be more than earlier predictions of 7%
He said there is enough time available for exchange and deposit in bank accounts so people should not panic
RBI governor Shaktikanta Das said that after September 30, the further decision will be taken based on the number of notes deposited
The impact of the recent unseasonal rain and hailstorms, however, needs to be watched