Page 14 - Rbi Governor

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

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

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 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

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

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

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

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 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

India's government bond outflows in April not normal, say analysts

Barclays' Kotecha eyes $20-$25 billion, with upside risks as an attractive carry, stable currency, and a positive macro backdrop and fiscal picture make Indian bonds attractive

CAG considering tax concessions as 'presumptive loss' not fair: Subbarao

If tax concessions announced by the government are treated as 'presumptive loss' by federal auditor Comptroller and Auditor General of India (CAG), it would diminish democracy and not enhance it, opined former RBI Governor Duvvuri Subbarao. Subbarao, who held various positions including the Union finance secretary, wrote in his new book titled 'Just A Mercenary?: Notes from My Life and Career' about his involvement in the decision-making on the pricing of the 2G spectrum, an issue that embroiled the UPA-2 government amid charges of mammoth corruption. "If a democratically elected government decides to forego revenue in order to serve the larger public good of deepening telecom penetration, is it open to the CAG to substitute his own judgement for the government's and call it a 'presumptive loss'?" he asked. Subbarao was responding to a question on the 2G scam case and the CAG's investigation of the presumptive loss to the government during the UPA-2 period. "If the CAG is allowed t

Dr Subbarao's book of revelations

The former RBI governor's second book is a delightful read, filled with riveting anecdotes that shed light on the doubts and dilemmas faced by a civil servant with a clear sense of right and wrong

Government approves one-year extension to RBI Deputy Governor Rabi Sankar

The government has extended the term of RBI Deputy Governor T Rabi Sankar for a period of one year, according to sources. The Appointments Committee of the Cabinet has approved the re-appointment of T Rabi Sankar, Deputy Governor Reserve Bank of India, for a period of one year with effect from May 3, 2024, they said. He was appointed as the RBI Deputy Governor in May, 2021 for a period of three years. He had joined the RBI in 1990 and worked in various positions at the central bank. He was Executive Director of the Reserve Bank before being elevated to the post of deputy governor. As an executive director, he was looking after the Department of Payment and Settlement Systems, the Department of Information Technology, Fintech and the Risk Monitoring Department of the RBI. He has served as an IMF Consultant (2005-11) on developing government bond markets and debt management. In addition to his professional career at the RBI, he is the Chairman, Indian Financial Technology and Allie

India not reaping benefits of its demographic dividend: Raghuram Rajan

India is not reaping the benefits of democratic dividends, former RBI governor Raghuram Rajan said Tuesday, emphasizing that there is need to focus on improving the human capital and enhancing their skill sets. I think we are in the midst of it (democratic dividend), but the problem is we are not reaping the benefits, Rajan said at a conference on Making India an Advanced Economy by 2047: What Will it Take at the George Washington University here. That's why I said 6 per cent growth. If you think that's about what we are right now, take away the fluff in the GDP numbers. That 6 per cent is in the midst of a demographic dividend. It is much below where China and Korea were when they reaped their demographic dividend. And that's why I'm saying we are being overly complicit when we say this is great. This is not because we are losing the demographic dividend because we are not giving those guys jobs, the former RBI governor said. And that leads us to the question, how do we create thos

India may remain poor even after becoming 3rd largest economy: Ex-RBI chief

Even after becoming the third largest economy in the world by 2029 as envisaged by Prime Minister Narendra Modi, India may still be a poor country and therefore there is no reason for celebration, former Reserve Bank Governor D Subbarao said here on Monday. Addressing a gathering at a book launch programme, Subbarao also said, citing Saudi Arabia, that becoming a rich country does not necessarily mean becoming a developed nation. Recalling PM Modi saying that if he returns to office, India will become the third-largest economy before 2029 -- before the end of his third term, he said many economists predict that the country would become the third largest after the US and China, much sooner. In my view, that is possible (India becoming the third-largest economy), but it's not a celebration. Why? We are a large economy because we are 1.40 billion people. And people are a factor of production. So we are a large economy because we have people. But we are still a poor country, Subbarao ..

All the RBI's men

As the Reserve Bank celebrates its 90th birthday, the concluding part of a two-column series offers a peek into the lives and works of its governors over the past three decades

REs must accord highest priority to governance, compliance: RBI Governor

Attempts to clear impression about widespread action; curbs only against outliers for major breaches

RBI monetary policy highlights: Last mile of disinflation is always challenging, sticky, says Governor Das

RBI MPC highlights: Catch all the highlights related to RBI's Monetary Policy Committee announcements here

RBI MPC: Here are the major announcements made by Governor Shaktikanta Das

The Reserve Bank of India put the estimated real GDP growth for FY25 at 7 per cent

RBI is evolving with time, in sync with emerging trends

April 1, 2024 marks the 90th year since the Reserve Bank of India commenced its operations.