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Manojit Saha is the Banking Editor for Business Standard and is based in Mumbai. He has been tracking the financial sector for over two decades, with a focus on the Reserve Bank of India and monetary policy. He has also contributed to Business Standard's digital offering - The Banking Show - with interviews with business leaders, CEOs and key policy makers. He has anchored panel discussions between CEOs from banking, insurance, NBFCs and fintech industry for the Business Standard BFSI Insight Summit, and the Business Standard-IMGC India Mortgage Leadership Conclave, among others.
Manojit Saha is the Banking Editor for Business Standard and is based in Mumbai. He has been tracking the financial sector for over two decades, with a focus on the Reserve Bank of India and monetary policy. He has also contributed to Business Standard's digital offering - The Banking Show - with interviews with business leaders, CEOs and key policy makers. He has anchored panel discussions between CEOs from banking, insurance, NBFCs and fintech industry for the Business Standard BFSI Insight Summit, and the Business Standard-IMGC India Mortgage Leadership Conclave, among others.
SBI has been designated by the RBI as one among the domestic systemically important banks (D-SIBs)
The rupee opened weaker at 77.70/$ as compared to Wednesday's close of 77.58/$ and traded in a narrow range amid intervention from the central bank
Monetary policy committee says decision to cut repo rate was at the correct time.
External member Jayanth Varma said 100 bps rate hike required 'very soon'
The central bank has been intervening in all segments of the currency market, which has slowed the pace of rupee depreciation.
"Pulses prices remained steady, although tur prices have moderated while masoor prices edged up. Edible oils prices registered a broad-based increase," the report said.
Market participants said the Reserve Bank of India (RBI) intervened in the currency market, which slowed the pace of depreciation. An upswing in the domestic equity markets also helped the currency.
According to latest data, the RBI has conducted open market operations in the last week of April and in the first week of May
Sanjiv Chadha, in an interview with Manojit Saha, says it was a conscious decision not to chase corporate loans and focused on segments offering higher margins
IPO of the bank's life insurance arm, IndiaFirst Life, likely this financial yr
As at end-March 2022, the Reserve Bank held 760.42 tonnes of gold, including gold deposits of 11.08 tonnes
Gold reserves increase by over 100 tonnes in two years
Lender sees growth in new gold loan business and it is scaling up wealth management unit, he says
The yield on the 10-year benchmark government bond fell almost 9 bps to end the day at 7.21 per cent
Sources said the RBI aims to maintain foreign exchange reserves of $600 billion in such uncertain times
The previous all-time low was hit on March 7, when the rupee ended the day at 76.97 to a dollar
Double-digit BoP deficit seen in FY23, says Standard Chartered
Growth forecast was cut to 7.2 per cent, from 7.8 per cent for FY23. Both forecasts were made assuming crude oil prices at $100/bbl
Soumya Kanti Ghosh, Group Chief Economic Adviser, State Bank of India, said he expected repo hikes in June and August policy review meetings too
The 10-year government bond shot up 26 bps, with the street expecting another rate hike in the June policy