RBI press conference LIVE: Currency circulation will pick up soon, says Guv

RBI MPC Meeting Live Updates: Governor Shaktikanta Das begins policy statement, catch all the latest updates here

12:36 PM

The currency in circulation to pick up soon, says Governor

The currency in circulation to pick up soon as we approach the festival season, says Governor

He added that the RBI will ensure that there is enough liquidity for banks to continue smoothly.

12:32 PM

Incremental CRR move to suck out a little over Rs 1 trn of excess liquidity: Das

Incremental CRR move to suck out a little over Rs 1 trillion of excess liquidity, says RBI Governor Shaktikanta Das

 

12:21 PM

Surplus in liquidity due to the withdrawal of Rs 2000 bank notes, says RBI Governor

Overall there is a surplus in liquidity due to the withdrawal of Rs 2000 bank notes. Till now 87 per cent of all Rs 2000 notes are back: Guv Das

12:17 PM

Private investment in key sectors on a rise, says RBI Governor

Private investment is seen on a rise in key sectors such as petroleum, chemical, and metal industry, says Governor

12:13 PM

UPI internationally recognised advanced payment system: Das

The UPI system is internationally recognised and some advanced countries will be added to this system soon, says RBI Governor 

12:09 PM

RBI MPC: Can't have knee jerk reactions, says Guv Das

Reserve Bank governor Shaktikanta Das said that the MPC needs to remain watchful and there can be no knee jerk reactions

12:06 PM

Recent spike in CPI inflation to be short-lived, says RBI Governor Shaktikanta Das

The recent spike in the Consumer Price Index (CPI) inflation is expected to be short-lived, says RBI Governor

11:57 AM

RBI press conference to begin shortly

The Reserve Bank of India (RBI) will soon start its press conference shortly.

11:08 AM

33 rice mills in Maha's Gondia blacklisted for supplying poor quality rice

As many as 33 rice mills in Maharashtra's Gondia district have been blacklisted for next three years as the rice supplied by them has been found to be inferior quality and not fit for human consumption, officials said.

Gondia Collector Chinmay Gotmare issued an order to this effect on August 4.

 

10:33 AM

ASI survey continues at Gyanvapi Mosque complex on Day 7

As the Archaeological Survey of India (ASI) continues its scientific survey of the Gyanvapi complex on the seventh day, an advocate representing the Hindu side, on Thursday said that the both Hindu and Muslim sides are cooperating and are abiding by the court order.

While speaking to ANI, Advocate Shubhash Nandan Chaturvedi said," The ASI survey is proceeding smoothly and in a systematic way. Both Hindu and Muslim sides are cooperating and abiding by the court's order."

10:22 AM

FY24 inflation projection increased to 5.4% from 5.1%, announces Governor Das

RBI Governor Shaktikanta Das announced that the MPC decided to increase FY24 inflation projection to 5.4 per cent from 5.1 per cent amid increasing food prices

10:17 AM

Headline inflation remains higher than 4% target: RBI Guv Das

Monetary policy transmission still underway, headline inflation remains higher than 4 pc target: RBI Guv.

 

10:16 AM

MPC to remain watchful of inflation: RBI Governor Shaktikanta Das

RBI Governor Shaktikanta Das says that the MPC remains resolute in its commitment to align inflation with the 4% target and anchor inflation expectations. The cumulative rate hike of 250 bps from FY23 is working its way through the economy

10:14 AM

MSF, Bank Rate remain unchanged at 6.75%, announces Governor Das

The Marginal Standing Facility Rate (MSF) and Bank Rate also remains unchanged at 6.75 per cent, RBI Governor Das announced

 

10:10 AM

Policy stance unchanged at ‘Withdrawal Of Accommodation’, says RBI Guv

RBI Governor said that the Monetary Policy Committee decided to keep the policy stance unchanged at ‘Withdrawal Of Accommodation’ with 5 of 6 MPC members supporting for this stance.

 

10:09 AM

Our economy exuding enhanced strength, stability, says Governor Das

Indian economy exuding enhanced strength and stability, says RBI Governor Shaktikanta Das

10:07 AM

RBI keeps repo rate unchanged at 6.5%

RBI Governor Shaktikanta Das announces that the Monetary Policy Committee unanimously decided to keep repo rate unchanged at 6.5 per cent, along with the key lending rate, which has also been unchanged since April

10:07 AM

Our banks healthiest in a decade, key lending rate unchanged: RBI Governor Das

Our banks are healthiest in a decade, says Governor Das

10:04 AM

RBI MPC meet: Governor Shaktikanta Das begins policy statement

RBI Governor Shaktikanta Das says "Our economy has continued to grow at a reasonable pace becoming the 5th largest economy in the world, contributing around 15% to global growth

9:52 AM

RBI likely to maintain status quo in its MPC meet announcement today

Reserve Bank of India likely to maintain status quo in today's MPC meeting announcement

9:36 AM

Rupee eyes RBI monetary policy decision, US inflation data to follow

The Indian rupee's direction on Thursday will be impacted by the central bank's policy decision and how market participants want to position themselves before U.S. inflation data.

Non-deliverable forwards indicate the rupee will open barely changed to the U.S. dollar from 82.8150 on Wednesday. In the last two sessions, the currency has been in the range of around six paisa.

8:22 AM

RBI monetary policy: Here's what industy experts expects from the upcoming meet

"While the inflationary pressures are upwards owing to primarily vegetables and some other food items, given that the inflation print is going to be below 6 per cent, the MPC can afford to continue with a pause," said Ranen Banerjee, Partner, Economic Advisory Services, PwC India.

 

"The demand continues to be weak at the lower value end of the spectrum and hence the Indian inflation continues to be a supply-side driven one. Thus, there is no immediate trigger for a rate increase. The commentary will continue to be hawkish with emphasis on data-dependent actions on the back of impacts seen from the rate increases by BoE, ECB and the US Fed."

 

8:00 AM

RBI MPC: Repo rate announcement by Governor Das today; all you must know

The Reserve Bank of India's (RBI's) six-member monetary policy committee (MPC) is holding its three-day meeting to decide the key interest rates in India. The meeting started on Tuesday and will end with RBI governor Shaktikanta Das announcing the rates in the policy announcement on Thursday.

All eyes will be on the repo rate, currently at 6.5 per cent. It has been hiked by 250 basis points since May 2022. The banks in India fix their interest rates on deposits as well as on loans based on the repo rate.

The last MPC meeting was held between June 6 and 8.