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RBI Governor

Need unambiguous, clear focus on inflation: RBI Governor Shaktikanta Das

RBI Governor said that lag in deposit mobilisation compared to credit growth is a critical issue

Need unambiguous, clear focus on inflation: RBI Governor Shaktikanta Das
Updated On : 19 Jul 2024 | 10:22 PM IST

Close coordination with govt helped in economy's quick revival: RBI Guv

Governor Shaktikanta Das on Friday said the Reserve Bank's relations with the government have been "smooth" during his nearly six-year term, and credited the close coordination between the two for the quick revival of the economy after the pandemic. Speaking at an event organised by Financial Express here, the bureaucrat-turned-central banker said nobody has expected him to be a "cheerleader" for the government during his term. "I am saying from my experience. Nobody expects RBI to be a cheerleader. I have had no such experience," he said, responding to a specific question about a lament made by one of his predecessors in a recent book. Asked if he is open for a new term at Mint Road, Das said he is very focused on the current assignment and does not think of anything outside that. Das said the RBI is optimistic that its estimate of 7.2 per cent growth for FY25 will be met, and added that with steady growth, the focus of the policy has to be "clearly and unambiguously" on inflation

Close coordination with govt helped in economy's quick revival: RBI Guv
Updated On : 19 Jul 2024 | 1:50 PM IST

Too early to talk rate cut, won't give guidance: RBI Governor Das

RBI guv says expected credit loss norms in final state of examination, should be out in current financial year

Too early to talk rate cut, won't give guidance: RBI Governor Das
Updated On : 11 Jul 2024 | 10:48 PM IST

RBI using alternative data sources for economic insights: Shaktikanta Das

World from moving from 'era of data scarcity to abundance', says central bank governor

RBI using alternative data sources for economic insights: Shaktikanta Das
Updated On : 29 Jun 2024 | 12:58 AM IST

Banks' LCR declines to 130% from 135% between September, March: RBI

The RBI report says that banks' efficiency indicators weakened due to rising staff costs and increased cost-to-income ratio

Banks' LCR declines to 130% from 135% between September, March: RBI
Updated On : 27 Jun 2024 | 10:44 PM IST

RBI's reserve maintenance system for banks fails on Tuesday, say traders

Indian banks need to park 4.5 per cent of their net deposits with the central bank and must maintain at least 90 per cent of this requirement every day

RBI's reserve maintenance system for banks fails on Tuesday, say traders
Updated On : 12 Jun 2024 | 12:09 PM IST

Decoded: Why does the RBI keep gold abroad and why has it got some back?

With the transfer of around 100 metric tonnes of gold from the UK last week, India's gold reserves are now evenly distributed, with 400 tonnes each in India and abroad

Decoded: Why does the RBI keep gold abroad and why has it got some back?
Updated On : 07 Jun 2024 | 4:14 PM IST

RBI MPC highlights: Last mile of our journey towards 4% inflation target is sticky, says Governor

RBI MPC Meeting highlights: RBI Monetary Policy Committee (MPC) kept the repo rate unchanged at 6.5% for the eight consecutive time and will continue with its stance of 'withdrawal of accommodation.'

RBI MPC highlights: Last mile of our journey towards 4% inflation target is sticky, says Governor
Updated On : 07 Jun 2024 | 2:35 PM IST

RBI brings gold reserve to India; nothing more should be read into it: Das

The Reserve Bank of India has brought 100 metric tonnes of gold reserve from the UK to India as there is enough domestic storage capacity, and nothing more should be read into it, Governor Shaktikanta Das said on Friday. The RBI moved 100 metric tonnes of its gold stored in the UK to domestic vaults in FY24. This is one of the biggest movements of gold undertaken by the country since 1991, when pledging a substantial part of the gold holding to tide over a foreign exchange crisis resulted in its movement out of vaults. The quantum of gold stored outside was static for a long time, Reserve Bank of India Governor Das said here. "In recent years, the data shows that the Reserve Bank is buying gold as a part of its reserves, and the quantum was going up. We have domestic (storage) capacity," he said. Therefore, it was decided to move part of the reserve outside India to be stored within the country, he said, adding, "That's it. Nothing more should be read into it". The country's overa

RBI brings gold reserve to India; nothing more should be read into it: Das
Updated On : 07 Jun 2024 | 2:34 PM IST

Voices for interest rate cut growing within RBI's rate-setting panel

Voices for interest rate cut are growing within the Reserve Bank's rate-setting panel with external member Ashima Goyal joining ranks with another member Jayanth R Varma who for long has been advocating to reduce the key policy rate by at least 25 basis points. Reserve Bank's monetary policy committee voted for a status quo in repo rate with four members voting in favour and two against. "Dr. Shashanka Bhide, Dr. Rajiv Ranjan, Dr. Michael Debabrata Patra and Shri Shaktikanta Das voted to keep the policy repo rate unchanged at 6.50 per cent. "Dr. Ashima Goyal and Prof. Jayanth R Varma voted to reduce the policy repo rate by 25 basis points," according to Monetary Policy Statement, 2024-25 Resolution of the Monetary Policy Committee (MPC) released by the central bank. Goyal, Varma and Bhide are external members on the MPC. Ranjan, Patra and Das are RBI officials. In the February 2024 and December 2023 MPC meetings, Varma had made a case for lowering the benchmark interest rate by 25

Voices for interest rate cut growing within RBI's rate-setting panel
Updated On : 07 Jun 2024 | 1:16 PM IST

RBI hikes threshold for bulk fixed deposit to Rs 3 crore from Rs 2 crore

The Reserve Bank on India on Friday hiked the threshold for bulk fixed deposits to Rs 3 crore from existing Rs 2 crore. Bulk fixed deposits earn slightly higher interest rate than retail term deposits as banks offer different rates as part of their liquidity management exercise. Now single rupee term deposits of up to Rs 2 crore with Scheduled Commercial Banks (excluding Regional Rural Banks) and Small Finance Banks will be part of retail fixed deposits. On a review of the bulk deposit limit, it is proposed to revise the definition of bulk deposits as 'Single Rupee term deposit of Rs 3 crore and above' for SCBs (excluding RRBs) and SFBs, RBI Governor Shaktikanta Das said while announcing the bi-monthly policy on Friday. Further, it is also proposed to define the bulk deposit limit for Local Area Banks as Single Rupee term deposits of Rs 1 crore and above', as applicable in case of RRBs. To promote ease of doing business, RBI has proposed to rationalise guidelines for export and im

RBI hikes threshold for bulk fixed deposit to Rs 3 crore from Rs 2 crore
Updated On : 07 Jun 2024 | 1:08 PM IST

RBI monetary policy: FY25 growth forecast revised to 7.2%, up from 7%

Monetary Policy Committee keeps repo rate unchanged at 6.50% for an eighth straight policy meeting

RBI monetary policy: FY25 growth forecast revised to 7.2%, up from 7%
Updated On : 07 Jun 2024 | 12:03 PM IST

Assessing need for more measures to slow unsecured lending: RBI Guv Das

The Reserve Bank of India has warned lenders against "all forms of exuberance" due to worries about the rising risks

Assessing need for more measures to slow unsecured lending: RBI Guv Das
Updated On : 07 Jun 2024 | 12:00 PM IST

RBI keeps repo rate unchanged, hikes FY25 GDP growth forecast: Details here

The RBI MPC maintained its 'withdrawal of accommodation' stance and kept the repo rate unchanged at 6.5 per cent. The RBI revised FY25 GDP growth forecast to 7.2 per cent

RBI keeps repo rate unchanged, hikes FY25 GDP growth forecast: Details here
Updated On : 07 Jun 2024 | 11:46 AM IST

RBI monetary policy: When boring is exciting

India, when compared to the US, has been rather boring, albeit in a good way. In contrast to the volatility in the US markets and macro data, India has been a beacon of stability

RBI monetary policy: When boring is exciting
Updated On : 03 Jun 2024 | 11:48 PM IST

Govt bond yields largely unchanged as traders await fresh debt supply

New Delhi will raise Rs 29,000 crore ($3.48 billion) through the sale of bonds later in the day and the auction includes a new five-year paper worth Rs 12,000 crore

Govt bond yields largely unchanged as traders await fresh debt supply
Updated On : 31 May 2024 | 11:00 AM IST

RBI dividend usage to signal new govt's fiscal priorities: Ratings agencies

Global rating agencies on Friday said windfall of Rs 2.1 lakh crore dividend from the RBI is positive for the country's fiscal metrics and its usage will provide a signal around the new government's fiscal priorities. The board of India's central bank earlier this week decided to pay Rs 2.1 lakh crore dividend to the government from the profits earned in 2023-24. This is more than double of Rs 1.02 lakh crore that was budgeted by the government. Fitch Ratings Asia-Pacific Sovereigns Director Jeremy Zook said sustained deficit reduction, particularly if underpinned by durable revenue-raising reforms, would be positive for India's rating fundamentals over the medium-term. "The use of the dividend -- whether it is saved or used for additional spending -- could provide a signal around the government's fiscal priorities," Zook told PTI in an email response. Fitch has a 'BBB-' rating on India with a stable outlook. In January, the rating agency had affirmed India's rating on robust growt

RBI dividend usage to signal new govt's fiscal priorities: Ratings agencies
Updated On : 24 May 2024 | 2:23 PM IST

Reserve Bank board approves transfer of Rs 2.11 trillion surplus to govt

The expert committee had suggested maintaining the risk provisioning within a range of 5.5 per cent to 6.5 per cent of the RBI's balance sheet under the Contingent Risk Buffer

Reserve Bank board approves transfer of Rs 2.11 trillion surplus to govt
Updated On : 22 May 2024 | 4:47 PM IST

RBI Guv Das casts vote in Mumbai, urges electors to exercise voting right

Reserve Bank Governor Shaktikanta Das cast his vote here early Monday morning and urged all electors to exercise their franchise. Polling was underway since 7 am in six Lok Sabha constituencies in Mumbai and seven other seats in Maharashtra. I urge all the voters to votethis is a right in our parliamentary democracy and everyone should exercise it, Das told PTI after casting his vote at a polling centre near his official residence his south Mumbai. Voters should exercise their franchise in large numbers even during the remaining phases of the general elections, he said. Tata Sons Chairman N Chandrasekaran was also among the early voters from the world of business. He exercised his franchise along with his family members at a booth in south Mumbai. Later, Chandrasekaran posed for pictures and showed his inked finger. Businessman Anil Ambani also voted early in the morning at a booth in south Mumbai where his residence is located.

RBI Guv Das casts vote in Mumbai, urges electors to exercise voting right
Updated On : 20 May 2024 | 10:29 AM IST

RBI repurchases Rs 2,069 cr worth of bonds, against notified Rs 60,000 cr

The securities scheduled for buyback were 6.18 per cent 2024, 9.15 per cent Government Securities (GS) 2024, and 6.89 per cent GS 2025

RBI repurchases Rs 2,069 cr worth of bonds, against notified Rs 60,000 cr
Updated On : 16 May 2024 | 7:18 PM IST