PSBs' credit growth on a year-on-year (Y-o-Y) basis stood at 12.9 per cent in September, lagging behind 16.4 per cent Y-o-Y of private lenders
Regulator closely monitoring situation and will not hesitate to take appropriate action, he says
Uncertainty remains elevated on a number of fronts, not least on the path for food inflation and external tensions
RBI Monetary Policy Meeting October 2024 highlights: Catch all the latest news updates on RBI's monetary policy announcements here
The RBI will announce the review of the policy on October 9
It will be important for monetary policy not to inadvertently accentuate asset price inflation, financial exuberance and the associated financial stability risks that come with it
India's government on Tuesday appointed Ram Singh, Saugata Bhattacharya and Nagesh Kumar as new external members
Govt appoints Ram Singh, Saugata Bhattacharya, and Nagesh Kumar as new external members of RBI's Monetary Policy Committee
On October 1, the government appointed 3 new members to the RBI’s Monetary Policy Committee (MPC). This comes a few days ahead of the MPC policy review scheduled for October 7-9. Watch the video to k
Govt appoints Ram Singh, Saugata Bhattacharya, and Nagesh Kumar as new external members of RBI's Monetary Policy Committee
It is important to ensure that headline inflation is aligned with the target, which will further enhance the credibility of the FIT framework
The contracts of three external members of RBI's monetary policy committee will expire on Oct 4, just days before the MPC is expected to meet and make its rate decision on Oct 9
"The potential of external demand can be leveraged by integrating into global supply chains," he said
The only available yardstick for evaluating the tightness of monetary policy is the real interest rate. The nominal repo rate is useless for this purpose
The selection panel, comprising the governor of the Reserve Bank of India and government officials, will recommend probable candidates in the next two weeks
The six-member Monetary Policy Committee of the RBI has kept the policy repo rate unchanged at 6.5% since February 2023
The RBI MPC has also decided to keep its stance of 'withdrawal of accommodation' unchanged with a majority of 4-2
Monetary policy stance retained at 'withdrawal of accommodation' to aid the MPC's focus on bringing inflation towards the target
The rupee witnessed range-bound trading in initial deals against the US dollar on Thursday, ahead of the Reserve Bank of India's monetary policy outcome. Market participants are awaiting cues from the central bank's observation of recent events and its observations on food inflation which continues to remain high. Foreign fund outflows and gains in Brent crude price further dented investor sentiments. At the interbank foreign exchange, the rupee opened at 83.94 against the greenback, then touched 83.93, registering a rise of 2 paise over its previous closing price. On Wednesday, the rupee consolidated in a narrow range and settled for the day lower by 3 paise at 83.95 against US dollar. "Indian rupee was again sold off as it closed at 83.95 on Wednesday very close to the psychologically important level of 84.00. Market will await the monetary policy before checking on RBI allowing the rupee to fall further as it protects 83.96," said Anil Kumar Bhansali, Head of Treasury and Execu
RBI MPC policy meet: The Reserve Bank of India (RBI) is expected to hold the rate at 6.5 per cent again amid inflationary pressures. However, a cut may be possible going ahead