RBI governor says rupee's orderly movement reflects strong macro fundamentals
Benchmark interest rate reduction will bolster private consumption and support a revival in private corporate investment, Reserve Bank Governor Sanjay Malhotra had opined while voting for a 25 basis points cut in repo rate along with other five members of the rate-setting panel earlier this month. Governor Malhotra-headed Monetary Policy Committee (MPC) had reduced the short-term lending rate by 25 basis points to 6 per cent on April 9. A similar reduction was done in February. "When consumer price inflation is decisively around its target rate of 4 per cent and growth is still moderate and recovering, monetary policy needs to nurture domestic demand impulses to further increase the growth momentum. This is specially so amidst an uncertain global environment, which has amplified downside risks to growth," said the minutes of the MPC meeting released by the RBI on Wednesday. Malhotra had said it will bolster private consumption and support a revival in private corporate investment ..
The government has extended the term of RBI Deputy Governor T Rabi Sankar for another one year till May 2026, according to sources. This is the second one-year extension granted to him. The Appointments Committee of the Cabinet (ACC) has approved the re-appointment of Rao for a period of one year with effect from May 3, 2025, or until further orders, sources said quoting a government order dated April 21. The ACC is headed by Prime Minister Narendra Modi. He was appointed as RBI Deputy Governor in May 2021 for an initial period of three years. In his previous role as Executive Director, Sankar was looking after the Department of Payment and Settlement Systems, the Department of Information Technology, Fintech and the Risk Monitoring Department in RBI. Sankar has also in the past served as an IMF Consultant (2005-11) towards developing government bond markets and debt management. Outside his career at the RBI, Sankar holds the role of Chairman at Indian Financial Technology and A
NBFCs pulled up for lax underwriting, steep charges
Rupee free to move if global forces weigh, says RBI governor
The RBI has guided that liquidity should be 1-1.5 percent of NDTL
Malhotra also said that at the system level, co-operative banks, NBFCs, and banks are all safe, secure, and robust
RBI MPC Meeting 2025 highlights: Catch all the latest news updates on the RBI Monetary Policy Committee meeting here
RBI MPC reduced the repo rate by 25 basis points to 6 per cent, marking the second cut this year
The likelihood of the RBI going in for another 50bps points rate cut for the rest of the calendar year is very high, says Dr Joseph Thomas, head of research, Emkay Wealth Management
RBI Governor Malhotra warned that increased US tariffs could hinder India's exports and domestic growth, emphasising the central bank's commitment to monitoring inflation risks
RBI's MPC begins 3-day meet from April 7; decision on repo rate to be announced April 9. Markets expect 25 bps cut amid easing inflation, global concerns
On the institutional activity front, FIIs net sold shares worth ₹4,994.24 crore, while DIIs net bought equities of ₹3,097.24 crore, on April 8.
The RBI said that all banknotes in the denomination of ₹500 in the Mahatma Gandhi (New) Series and ₹10 issued in the past will continue to be legal tender
Her appointment comes less than a week before a meeting of the monetary policy committee
Central bank's role has expanded significantly beyond initial mandate, he says
Central bank has ensured financial system's resilience in 'face of any adverse international trends'
The RBI shall continue to be supportive to manage excessive volatility without targeting any particular level or band of exchange rate, said Malhotra
Since taking office in December, Sanjay Malhotra has reduced interest rates for the first time in five years, injected nearly $60 billion into the banking system
Only a matter of time when cross-border payments will become much easier and cost-effective, says RBI Governor Sanjay Malhotra