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
Talking about operational resilience, Das said banks need effective policies regarding cyber risks
Hinting at cyber risks, the RBI Governor said that it has been identified as the foremost in top 10 operational risks for 2023 based on a global survey of financial institutions
The RBI is also working to up organizational resilience within banks, Das said, adding that strengthening the governance and assurance functions is a key focus
RBI governor Shaktikanta Das said that the gross NPAs of Indian banks stood at 4.41% as on December 31, 2022
Reserve Bank Governor Shaktikanta Das is scheduled to meet the board of directors of all public sector banks next month to discuss issues related to governance and ethics
RBI Governor Shaktikanta Das, in the rate-setting panel meeting earlier this month, opined that the cumulative impact of the monetary policy actions over the last one year is still unfolding
Ethics, supervisory expectations may also figure in May 29 meeting
Greater acceptance among G20 about crypto regulations, says FM
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"Our banking system is resilient, stable and healthy," he added
"We expect the portal to be ready in 3-4 months," said M Rajeshwar Rao, deputy governor, RBI