Monetary policy highlights: Growth not at pre-pandemic level yet, says RBI

RBI Monetary policy highlights: RBI announcement comes against the backdrop of Covid-19 infections receding in recent days and the economy stablising. Stay tuned for all the LIVE updates

12:44 PM

Conscious of our commitment to growth, and of our role as an inflation targeting mandate, says RBI guv

Conscious of our commitment to growth, and of our role as an inflation targeting mandate, says RBI guv

12:34 PM

RBI Monetary policy LIVE updates: Rajeshwar Rao, RBI DG

"We have addressed the issue of climate risk internally We are joining various working group set up under NGFS NGFS is Network of Central Banks and Supervisors for Greening the Financial System".

12:29 PM

RBI Monetary policy LIVE updates: Shaktikanta Das, RBI Gov responds to media questions

"Govt is discussing with authorities, index providers to clarify issues on global bond inclusion. Talks in advance stage; hopeful global bond index inclusion should happen in the next few months."

12:28 PM

RBI Monetary policy LIVE updates: Michael Patra, RBI DG responds to media questions

"Will wait to see recovery getting strongly entrenched RBI has all the adequate instruments; issue is of timing and calibration."

 

12:14 PM

Enough liquidity will be made available to support growth, financial markets, says Guv Shaktikanta Das

Enough liquidity will be made available to support growth, financial markets, says Guv Shaktikanta Das

12:07 PM

RBI Monetary policy LIVE: Guv Shaktikanta Das presser begins

RBI Monetary policy LIVE: Guv Shaktikanta Das presser begins

12:03 PM

RBI Monetary policy LIVE updates: Guv Shaktikanta Das' interaction with media to begin shortly

RBI Monetary policy LIVE updates: Guv Shaktikanta Das' interaction with media to begin shortly

11:52 AM

RBI has just about started a gradual liquidity reversal process, writes Madan Sabnavis

The Reserve Bank of India (RBI) has not really gotten in any surprise on the rates front, which is good for the market. The unchanged stance on repo and reverse repo rate does assuage the market. Given that other macroeconomic expectations are largely balanced with inflation to move downwards, it can be expected that there will be no change in the repo rate for the rest of the financial year.

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10:56 AM

RBI Monetary policy LIVE updates: Internal Ombudsman for NBFCs

With a view to further strengthening the internal grievance redress mechanism of NBFCs, it has been decided to introduce the Internal Ombudsman Scheme (IOS) for certain categories of NBFCs having higher customer interface.

10:40 AM

RBI Monetary policy LIVE updates: Guv ends his address

He closed his speech by quoting Mahatma Gandhi to say: "To lose patience is to lose the battle."

10:40 AM

LIVE: RBI Guv says we don't want to rock the boat when the shore is near as there's journey beyond the shores

In explaining the central bank's liquidity stance, Das said: "We don't want to rock the boat when the shore is near as there is a journey beyond the shores." 

10:38 AM

All new payment acceptance infrastructure, including PoS machines and QR codes, to be geo-tagged

10:33 AM

IMPS per transaction cap raised from Rs 2 lakh to Rs 5 lakh

10:33 AM

SLTR auctions for small finance banks to continue beyond the original deadline of OcT 2021 to Dec 2021

SLTR auctions for small finance banks to continue beyond the original deadline of October 2021 to December 2021

10:32 AM

RBI Monetary policy LIVE updates: A calendar for fortnightly VRRRs has been announced

Rs 4 trillion on October 8 

Rs 4.5 trillion on October 24 

Rs 5 trillion on November 3 

Rs 5.5 trillion on November 18 

Rs 6 trillion on December 3

 

10:32 AM

RBI Monetary policy LIVE updates: VRR auctions to be stepped up fortnightly from Rs 4 trillion to Rs 6 trn

Variable Reverse Repo (VRR) auctions to be stepped up fortnightly from Rs 4 trillion to Rs 6 trillion. RBI may complement the 14-day VRR auctions with 28-day VRR auction. Liquidity absorbed in the first week of December under fixed-rate auction to be Rs 2-3 trillion

 

10:31 AM

RBI Monetary policy LIVE updates: RBI has decided to stop bond purchases under G-SAP, says Shaktikanta Das

The RBI governor said that given the liquidity overhang and the absence of fresh government borrowing for GST compensation means that these bond purchases are not necessary. 

 

The RBI will, however, continue to conduct open market operations as needed. 

 

10:28 AM

The tone of monetary policy will be guided by domestic circumstances and assessment, says RBI

The tone of monetary policy will be guided by domestic circumstances and assessment, says RBI

10:28 AM

RBI Monetary policy LIVE updates: Retail inflation during FY22 projected at 5.3%

10:27 AM

RBI Monetary policy LIVE updates: Potential liquidity overhang amounts to Rs 13 trillion, says Shaktikanta Das

Liquidity increased in September to an average of Rs 9 trillion per day against Rs 7 trillion between June and August 2021
 

Liquidity rose further to Rs 9.5 trillion in October. Potential liquidity overhang amounts to Rs 13 trillion

 

10:25 AM

RBI Monetary policy LIVE updates: RBI stops G-SAP bond buys

RBI Monetary policy LIVE updates: RBI stops G-SAP bond buys

10:24 AM

RBI Monetary policy LIVE updates: In H1 of FY22, Rs 2.73 trillion injected

RBI's MPC voted unanimously to keep policy rates unchanged, and 5:1 to maintain the accommodative stance

 

 

10:21 AM

RBI Monetary policy LIVE updates: Marginal Standing Facility Rate and Bank Rate at 4.25%

Economic recovery remains uneven and dependent on continued policy support

 

10:19 AM

RBI Monetary policy LIVE: Recovery of Indian economy is gaining traction, says Shaktikanta Das

 RBI governor Shaktikanta Das said that the recovery of Indian economy is gaining traction. India is in a much better place today. However slack in the economy still remains. Contact intensive sectors are still lagging, the Governor said. Commenting on inflation, Das said that inflation has been below the RBI's projections but core inflation however remains sticky. The evolving situation requires close vigilance, he added. "Efforts to contain cost push pressures through a calibrated reversal of fuel taxes could contribute to lowering of inflation," he said.

10:17 AM

RBI Monetary policy LIVE updates: Growth and Inflation forecast

The RBI has maintained the FY22 GDP growth forecast at 9.5%.

This includes 7.9% in Q2, 6.8% in Q2 and 6.1% in Q4. For Q1 FY23, GDP growth has been pegged at 17.2%.

CPI inflation is projected at 5.3% for the current fiscal year. In Q2, it is seen at 5.1%, 4.5% in Q3 and 5.8% in Q4, with risks broadly balanced.

 

10:16 AM

RBI Monetary policy LIVE updates: MPC leaves repo rate unchanged for the eighth consecutive meet

The MPC voted 5-1 to retain the accommodative stance as long as necessary to revive and sustain growth on a durable basis, while ensuring that inflation remains within the target.

10:13 AM

RBI Monetary policy LIVE updates: RBI retains 9.5% GDP growth forcast

Reserve Bank of India (RBI) Governor Shaktikanta Das said that the central bank is positive about 9.5 per cent GDP growth estimate for the current financial year.

 

10:09 AM

RBI Monetary policy LIVE updates: July-Spetember CPI inflation lower than anticipated

RBI Monetary policy LIVE updates: July-Spetember CPI inflation lower than anticipated

10:08 AM

RBI Monetary policy LIVE updates: Growth impulses seem to be improving, says Guv

RBI Monetary policy LIVE updates: Growth impulses seem to be improving, says Guv

10:05 AM

RBI Monetary policy LIVE: Repo rate unchanged; stance remains accomodative

RBI Monetary policy LIVE: Repo rate unchanged; stance remains accomodative