RBI MPC highlights: Inflation expected to remain elevated during September, October, says Das

RBI Monetary Policy Meeting October 2024 highlights: Catch all the latest news updates on RBI's monetary policy announcements here

1:34 PM

'Change in policy stance a pivot towards potential rate easing action': Kotak Alternate Asset Managers Ltd

"With status quo on rates, the RBI MPC unanimously voted for a policy stance change to neutral. Clearly a pivot towards potential rate easing action in the months ahead. The RBI has tried to maintain a balanced tone, which means its not a given that we see rate cut in December policy – looks like it will be more data dependent. With inflation well within RBI's contours, and growth fumbling a tad, the outlook on rates remain constructive," Lakshmi Iyer, CEO-Investment & Strategy, Kotak Alternate Asset Managers Limited, said.

1:19 PM

RBI MPC presser: Are interest rate cuts on the cards?

When asked if the RBI is going to cut the repo rates in the December MPC meeting, Governor Das said that people are free to assess the RBI’s stance. However, the elevated inflation rate in the short-term is what the RBI is focusing on for now. Read here for a more detailed story.

1:07 PM

RBI increases UPI limit for smooth payment transactions: Check revised caps

The Reserve Bank of India on Wednesday announced revised limits for popular digital payment solution Unified Payment Interface (UPI) from existing Rs 2,000 to Rs 5,000. Read here for a detailed story.

12:56 PM

RBI MPC LIVE: On deficiencies in conduct of gold loan companies

RBI had identified certain problematic aspects in the operations of gold loan companies, RBI Deputy Governor Swaminathan J stated. RBI has set a specific timeline for these companies to address and rectify the discrepancies, Swaminathan added.

12:42 PM

What RBI Governor said on consumption and investments

At the press conference, RBI Governor Shaktikanta Das highlighted that consumption and investments, key drivers of growth, remain stable. Private investments are beginning to show signs of improvement, Das stated, noting that the services sector continues to thrive.

12:38 PM

RBI MPC LIVE: Outlook for crude oil prices is softer than it is today, says Deputy Governor Patra

12:33 PM

Action against errant NBFCs will be taken, says RBI Deputy Governor

RBI to take action against errant NBFCs pursuing high growth, high risk policy, says Deputy Governor Swaminathan J.

 

12:30 PM

RBI MPC LIVE: Foreign holding of government bonds at 3%, says Deputy Governor Patra

The current holding of government bonds by foreigners was just about 3%, RBI Deputy Governor Michael Patra stated today.

12:28 PM

RBI MPC LIVE update: RBI Governor Shaktikanta Das on lower growth in the first quarter

The lower growth in the first quarter was mainly due to reduced spending by both state and central governments, Governor Das explained.

 

12:24 PM

RBI MPC LIVE update: Inflation is moderating, but RBI is aware of risks, says Governor Das

We now have greater confidence that inflation is moderating, but are also aware of risks, RBI Governor Das stated.

12:20 PM

Lending rate, deposit rate will move in tandem with policy rate decided by MPC: Governor Das

The determination of rates is driven by the commercial decisions of lenders, making it uncertain whether deposit and credit rates have reached their peak, Governor Das stated.

12:15 PM

RBI MPC LIVE: MPC stance gives greater optionality, says RBI Guv Das

Interest rates will be determined by the dynamics of growth and inflation, specifically depending on the inflation growth rate, RBI Governor Das said.

12:12 PM

RBI Press Conference: Need for greater vigilance on inflation, says RBI Governor Das

Significant risks to inflation outcome, we need to remain vigilant, says RBI Governor Das.

12:08 PM

RBI MPC LIVE: RBI governor begins addressing post monetary policy press conference

India's growth story remains intact, says RBI Governor Das.

11:42 AM

Inflation horse brought to the stable; has to be kept on a tight leash: RBI

The Reserve Bank of India (RBI) highlighted adverse weather conditions, ongoing geopolitical conflicts, and a rise in select commodities as the key threats to its inflation forecast. RBI Governor Shaktikanta Das said, has been brought to the stable, and has to be kept on a leash with doors closed so that it does not bolt again. Read here for more details. 

11:22 AM

RBI holds repo rate: Home loan borrowers face longer wait for EMI relief

For homebuyers, the impact of this decision means that home loan interest rates are expected to remain steady, at least for the foreseeable future. Home loan borrowers will not see any immediate change in their EMIs, particularly at a crucial time like the festive season when demand for housing traditionally rises. Read here for more details.

11:15 AM

Expected inflation-growth balance created favourable conditions for change in stance, says Das

RBI Governor Das stated that the prevailing and expected inflation-growth balance has created favourable conditions for a change in monetary policy stance to neutral. "Even as there is greater confidence in navigating the last mile of disinflation, significant risks – I repeat, significant risks – to inflation from adverse weather events, escalating geopolitical conflicts, and the recent increase in certain commodity prices continue to pose challenges. The adverse impact of these risks cannot be underestimated," Das said. Read here for a more detailed story.

10:55 AM

CAD widens to 1.1% of GDP in Q1: RBI Governor

India's current account deficit (CAD) widened to 1.1 per cent of GDP in the first quarter. However, buoyancy in services exports and strong receipts are anticipated to keep the CAD manageable, Governor Shaktikanta Das said. Foreign direct investment (FDI) flows remain robust in the current financial year, Das added.

 

10:49 AM

Financial sector is healthy, resilient and stable: RBI Governor Das

Health parameters of Indian banks remain strong, RBI Governor Shaktikanta Das stated cautioning against built up of consumer loan, credit card outstanding. 

10:46 AM

RBI MPC Policy LIVE update: UPI limit hiked from Rs 5,000 to Rs 10,000

RBI Governor Shaktikanta Das stated that the transaction limit will be increased from Rs 5,000 to Rs 10,000  to promote broader adoption of the Unified Payments Interface (UPI).

10:42 AM

Some NBFCs pursuing growth without risk management: RBI Governor Das

“RBI closely monitoring situation and will not hesitate in taking appropriate action,” RBI Governor Das stated today.

10:39 AM

RBI MPC update: NBFCs should carefully evaluate their exposures, says RBI Governor Das

10:34 AM

RBI MPC LIVE update: Indian rupee has remained largely range-bound, says RBI Governor Das

10:32 AM

CPI print for September could see significant jump: RBI Governor Das

The CPI print for September is expected to experience a significant jump due to unfavorable base effects and rising food prices, RBI Governor Das said. Governor Das stated that the headline inflation trajectory would sequentially moderate in Q4.

10:25 AM

RBI MPC LIVE update: Sensex up 400 pts as RBI keeps key policy rate unchanged at 6.5%

10:24 AM

Domestic growth has sustained its momentum, downside risks persist, says RBI governor

Domestic growth has sustained its momentum, and the global economy has remained resilient since our last meeting, Governor Das said. "However, downside risks persist due to geopolitical conflicts, financial market volatility, and elevated public debt. On a positive note, world trade is showing signs of improvement," Das added.

10:19 AM

Food inflation pressures may ease due to favorable conditions, says RBI Governor Das

"Food inflation pressures may ease due to favorable conditions from kharif sowing and good soil moisture. Additionally, it appears that core inflation has bottomed out," RBI Governor Shaktikanta Das said today.

10:13 AM

RBI MPC LIVE update: Real GDP growth rate for 2024-25 estimated at 7.2%

RBI MPC LIVE Update: Real GDP for Q1FY26 is projected at 7.3% from 7.2% earlier

10:11 AM

RBI MPC Meeting LIVE: Real GDP grew by 6.7% in Q1

Moderation in inflation to remain 'slow and uneven,' RBI Governor Shaktikanta Das said today.

10:09 AM

RBI MPC keeps repo rate unchanged at 6.5%

After evaluating the macroeconomic conditions and future outlook, the Monetary Policy Committee (MPC) decided, with 5 out of 6 members in agreement, to maintain the policy rate at 6.5 per cent, Governor Das said.