Page 5 - Mpc Meet

RBI likely to keep rate and policy stance unchanged to control inflation

The RBI is likely to retain its "withdrawal of accommodation" stance introduced in April last year, according to 19 of 20 economists who shared their forecast on the stance

RBI's rate-setting panel starts 3-day deliberations on monetary policy

BofA Securities in a report said it expects the RBI MPC to deliver a hawkish hold on August 10 while retaining the stance as withdrawal of accommodation

A pause with abundant caution

Despite the current surge in CPI inflation, bulk of the rise came from food prices rather than in a broad-based fashion

RBI may continue to hold rate amid concern over inflation: Experts

The Reserve Bank is likely to continue with the pause on the key interest rate at its upcoming monetary policy review, as concerns on the inflation front and keeping the borrowing cost stable to maintain the economic growth momentum persist, said experts. The RBI Governor-headed six-member Monetary Policy Committee's (MPC) meeting is scheduled on August 8-10. The policy decision will be announced on August 10 by Governor Shaktikanta Das. The borrowing cost, which started rising in May last year, has stabilised with the RBI keeping the repo rate unchanged at 6.5 per cent since February when it was raised from 6.25 per cent. Later, in the two bi-monthly policy reviews in April and June, the benchmark rate was retained. Punjab & Sind Bank Managing Director Swarup Kumar Saha said the RBI factors in many things, including global developments. So, it will also take into account interest rate hikes effected by many central banks like the US Fed recently. Due to interest rate increases, ..

RBI needs monsoon to deliver before weighing rate cuts in next MPC meet

The weather announcement on Thursday provided some relief to the rate-setters and millions of farmers across India, but the concerns are not quite over

Debt mutual funds or FDs: What should you pick given RBI status quo?

With RBI keeping the key repo rates unchanged at 6.50 per cent, investors with surplus funds are looking to park their money. We decode whether they should stick to FDs or stick to debt funds

RBI monetary policy review: Focus back on primary target; inflation at 4%

The six-member monetary policy committee unanimously decided to keep the policy repo rate at 6.5 per cent

Co-op banks to soon be able to do compromise settlements, write-off on NPAs

Reserve Bank Governor Shaktikanta Das on Thursday said cooperative lenders will soon be able to do technical write-offs and execute compromise settlements with defaulting borrowers. RBI has decided to widen the scope of the framework for resolution of stressed assets, under which all the regulated entities including cooperative lenders will now be able to execute "compromise settlements and technical write-offs" to resolve non-performing assets, Das said. Till now, this avenue for dud asset resolutions was available only with scheduled commercial banks and select non-bank finance companies, Das said, adding that comprehensive guidelines on the same will be released soon. It can be noted that the cooperative lending sector frequently makes headlines for lack of governance practices and conflicts of interest. Das also said that it is proposed to rationalise the extant prudential norms on restructuring of borrower accounts affected by natural calamities. The Governor also acknowledge

Inflation may inch down in May-June, indicates Monetary Policy Committee

Economic growth projections were retained at 6.5%, with first two quarters expected to deliver slightly more. Second half likely to yield moderately less pace of growth than assessed in April

Banks to issue Rupay prepaid forex cards for Indians travelling abroad: RBI

Das said the Rupay prepaid forex cards will expand the payment options for Indians going abroad

RBI MPC: When and where to watch policy announcement by Shaktikanta Das

RBI monetary policy: In April, the MPC had decided to pause the repo rate hike for the first time since May 2022

When the randomness of monetary policy reminds one of a game of Ludo

The real issue may be that the RBI does not really subscribe to the mandate it has been given, and the govt, in a pre-election year, quietly supports such agnosticism, writes T N Ninan

Foreign exchange reserves at $578.45 bn, snaps 2-week rise, shows RBI data

A comfortable level of foreign exchange reserves will further bolster macroeconomic stability, RBI Governor Shaktikanta Das said while announcing the bank's monetary policy decision on Thursday.

Reserve Bank of India goes for a hawkish pause

The RBI has paused because it wants to evaluate the cumulative impact of the past rate hikes

Rupee falls below 82 against US dollar after RBI hits pause on rate hikes

The rupee declined to an intraday low of at 82.06 per U.S. dollar versus 81.88 before the RBI policy announcement

This is a pause, not a pivot, says RBI guv on surprise hold in key rates

Reserve Bank Governor Shaktikanta Das on Thursday made it clear that the decision to hold rates should be seen as a pause, and not as a pivot. The rate-setting Monetary Policy Committee (MPC) will act on the rates as and when necessary, Das said. "If I have to characterise today's monetary policy in just one line...it's a pause, not a pivot," Das told reporters in the customary interaction with reporters after the announcement of the policy review. Earlier in the day, the six-member MPC voted unanimously to keep the repurchase or repo rate unchanged at 6.50 per cent, surprising analysts who were expecting the central bank to make a final 25 basis points hike before opting to pause. Das said RBI is keen to assess the cumulative impact of the rate actions done till now. There has been a cumulative hike of 250 basis points since May 2022. Deputy Governor Michael Patra said RBI has marginally upped its FY24 growth estimate to 6.5 per cent primarily on assumption of a decline in the ..

MPC lowers projection for inflation, raises growth outlook a bit in FY24

Volatility in global financial market has potential upsides for imported inflation, says committee

LIVE: We will work towards inflation target of 4%, says RBI Governor

Catch all the updates of the live address by Reserve Bank of India's Governor Shaktikanta Das on the decision by the Monetary Policy Committee on repo rate

Fight against inflation far from over: RBI projects FY24 inflation at 5.2%

The Reserve Bank on Thursday projected marginal easing in retail inflation to 5.2 per cent in the current fiscal, but cautioned that the fight against inflation is far from over. Although the Reserve Bank pared its inflation estimate from its February projection of 5.3 per cent, RBI Governor Shaktikanta Das said the inflation outlook remains dynamic amid the recent jump in crude oil prices on account of OPEC decision to cut output. Taking into account a crude oil price of USD 80 per barrel and a normal monsoon, the retail inflation in the current fiscal is projected to be 5.2 per cent with risks evenly balanced, Das said. For the June quarter, the retail inflation is expected to average 5.1 per cent, and rise to 5.4 per cent each in the September and December quarter. It is expected to decline to 5.2 per cent in the March 2024 quarter. Das said the Central bank's war against inflation will continue until the inflation is brought down to target level. "The fight against inflation

RBI monetary policy: MPC votes for pause, keeps repo rate unchanged at 6.5%

RBI repo rate: The MPC decision to hit the pause is for this policy cycle only, says RBI governor Shaktikanta Das