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The Reserve Bank of India (RBI) on Monday announced the appointment of Usha Janakiraman as an Executive Director (ED) in the Department of Supervision. Janakiraman was serving as the Chief General Manager-in-Charge of the Department of Regulation in the RBI's Central Office in Mumbai prior to this, an official statement said. Her appointment is effective from December 1, 2025. Janakiraman has an experience of over three decades in the Reserve Bank, and has worked in the areas of regulation, external investment and operations, banking supervision, public debt management, currency management and other areas in the Reserve Bank. As Executive Director, Janakiraman will look after the Department of Supervision (Risk, Analytics and Vulnerability Assessment), it said. She is a Chartered Accountant, the central bank statement said.
Reserve Bank Governor Sanjay Malhotra opined that there is room for a further rate cut and indicated it would be done at an opportune time to have a desirable impact, according to the minutes of the monetary policy committee (MPC) meeting released on Wednesday. The governor, along with five other members of the MPC, had voted for the status quo on the short-term benchmark lending rate at the meeting that concluded on October 1. During the meeting, Malhotra said the benign outlook for headline and core inflation as a result of the downward revision of projections opens up policy space to further support growth. "...even though there is a policy space to further cut the policy rate, I feel this is not the opportune time for the same, as it will not have the desirable impact. "Therefore, I vote to keep the policy repo rate unchanged at 5.50 per cent. The intent of policy, nevertheless, is to continue to facilitate growth-enabling conditions," he said. MPC member and RBI Deputy Govern
RBI Governor Sanjay Malhotra on Friday said perhaps gold price is acting as a new barometer reflecting global uncertainties as the crude oil used to be in the recent past. While mentioning that fiscally almost every country today is "quite stressed", Malhotra also said current trade policy environment could damage growth in some of the economies and cautioned that globally, stock markets might see a correction. The Reserve Bank of India (RBI), while leaving the key interest rate unchanged at 5.5 per cent with a neutral monetary policy stance on Wednesday, said the global economy has been more resilient than anticipated but outlook remains clouded. "Despite geopolitical tensions that would have sent oil prices soaring in an earlier decade, they (oil prices) have been very range bound. This could be due to a decline in oil intensity in GDP, not just in India, but across the world. "Perhaps gold prices now are showing the kind of movement that oil used to that is acting as a barometer
To enhance the resilience of the financial sector, the Reserve Bank on Wednesday announced that the expected credit loss (ECL) framework for provisioning is proposed to be made applicable to all financial institutions from April 1, 2027. Announcing the fourth bi-monthly monetary policy, RBI Governor Sanjay Malhotra said the ECL framework of provisioning with prudential floors is proposed to be made applicable to all Scheduled Commercial Banks (excluding Small Finance Banks (SFBs), Payment Banks (PBs), Regional Rural Banks(RRBs)) and All India Financial Institutions (AIFIs) with effect from April 1, 2027. "They will be given a glide path (till March 31, 2031) to smoothen the one-time impact of higher provisioning, if any, on their existing books," he said. The guidelines are expected to enhance credit risk management practices, promote better comparability of reported financials across institutions, he added. In January 2023, the RBI came out with draft guidelines for the adoption o