Page 16 - Rbi Governor

Delays in IBC erode value of assets, says RBI governor Shaktikanta Das

Das says cybersecurity threat remains a major challenge

Learnings from IBC suggest need for 'some course correction': RBI chief Das

Lenders have recovered 32 per cent of their total claims under the Insolvency and Bankruptcy Code (IBC) but the learnings suggest the need for "some course correction" with respect to the law, RBI Governor Shaktikanta Das said on Thursday. He said the major criticisms of the IBC are on two fronts -- the time taken for resolution and the extent of haircuts as against the admitted claims. The IBC, which came into force in 2016, is a key legislation aimed at resolving stressed in a time-bound and market-linked manner. Addressing a conference on the IBC organised by the Centre for Advanced Financial Research and Learning (Cafral) here, Das said "if we have to take stock of the IBC implementation journey and its impact so far, there are significant positive indications as well as learnings, suggesting a need for some course correction". In terms of realisation of value, the creditors have realised Rs 3.16 lakh crore out of the admitted claims of Rs 9.92 lakh crore as of September 2023,

Cybersecurity threat to banking system a major challenge: RBI Governor

Regulator has dedicated team to check IT systems of banks and NBFCs, says Shaktikanta Das

The big change at RBI

Bankers say Das' stint has been a refreshing change. "After a long time, we have a governor who is approachable. I can say that because the RBI's interactions with us are now much better,"

RBI announces 2-day repo for $6 billion as overnight rates stay elevated

The RBI had infused 1.75 trillion rupees through a seven-day VRRR on Dec. 22 and 1 trillion rupees in the prior week that matured on Dec 22

RBI, Mumbai banks receive bomb threat demanding resignation of FM

Mumbai Police are investigating an email claiming bombs planted have been at 11 locations, calls for resignation of RBI governor and finance minister

Banks bid 2.5 times at Rs 4.75 trn against notified amount at VRR auction

Bids totaling 2.7 times the notified amount were received at VRR auction on December 15

RBI board discusses prevailing economic, financial scenario at 605th meet

The Reserve Bank of India's board on Monday reviewed the prevailing economic and financial scenario, including the challenges posed by geopolitical developments. The 605th meeting of the Central Board of Directors of Reserve Bank of India was held today in Ekta Nagar (Kevadia) under the Chairmanship of Governor Shaktikanta Das. "The board reviewed the economic and financial scenario, both domestic and global, including the challenges posed by global geopolitical developments," the central bank said in a statement. It also discussed the activities of select central office departments and the draft report on trend and progress of banking in India, 2022-23. Directors on the central board Satish K Marathe, Revathy Iyer, Anand Gopal Mahindra and Ravindra H Dholakia attended the meeting. RBI Deputy Governors Michael Debabrata Patra, M Rajeshwar Rao, T Rabi Sankar, and Swaminathan J as well as Department of Economic Affairs Secretary Ajay Seth also participated in the meeting, the statem

Central bank and cricket

While the economy seems to be on a firm growth path, the fight against inflation is not over yet. It has not even entered the last round

RBI allows liquidity reversal for banks on weekends, holidays from Dec 30

The Reserve Bank of India (RBI) governor Shaktikanta Das said that the move will come into effect on December 30

India's GDP grew 7.6% in Jul-Sep quarter, higher than RBI MPC projection

At the Business Standard BFSI Summit last month, RBI Governor Shaktikanta Das said that the Q2 GDP figure is likely to surprise everyone on the upside

Financial sector must avoid 'all forms of exuberance': RBI governor

Banks, NBFCs would be 'well advised to take precautionary measures in four areas, says Shaktikanta Das

Banks, NBFCs need to be watchful of stress building up: Shaktikanta Das

'Banks and NBFCs must continue to do stress tests of their books,' RBI Governor Shaktikanata Das said on Wednesday

Former RBI Governor S Venkitaramanan passes away at 92 after short illness

Venkitaramanan was born in Nagercoil, part of the Padmanathapuram division of the princely state of Travancore

India vulnerable to recurring food price shocks, says RBI Governor Das

The RBI's rate-setting panel has raised the repo rate by 250 basis points cumulatively between May 2022 and February 2023 to manage inflation expectations

RBI remains watchful, monetary policy actively disinflationary: Das

Reserve Bank of India remains watchful and the monetary policy is actively disinflationary and supporting growth, Governor Shaktikanta Das said on Thursday. The government has mandated the RBI to ensure that inflation based on the Consumer Price Index (CPI) remains at 4 per cent with a margin of 2 per cent on either side. At a symposium in Tokyo, Das also talked about the central bank's approach to the fintech ecosystem, saying it is customer-centric. There is focus on good governance, ensuring effective oversight, ethical conduct and risk management, and encouraging self-regulation by the fintechs themselves through a Self-Regulatory Organisation (SRO), he said. Das said the Monetary Policy Committee (MPC) in its October meeting projected CPI inflation at 5.4 per cent for 2023-24, a moderation from 6.7 per cent in 2022-23. The CPI inflation fell to a three-month low of 5 per cent in September. The data for October is scheduled to be released on November 13. Headline inflation, .

Best of BS Opinion: Vote of confidence, engagement discontent & more

Here is the best of Business Standard's opinion pieces for today

BS BFSI Summit: Crypto a threat to financial stability, says RBI guv Das

At BS BFSI Summit, Das expressed his concerns about regulating the use of cryptocurrencies and questioned the major tenets surrounding crypto terminology

India's Q2 GDP number will surprise on the upside: RBI governor Das

BS BFSI Insight Summit 2023: Shaktikanta Das said India is better placed as compared to other countries to deal with risky geopolitical situations

RBI central board reviews global economic, financial developments

The Central Board of Directors of the Reserve Bank of India on Friday reviewed economic and financial developments, including challenges posed by the evolving geopolitical conflicts. The 604th meeting of the board was held in Rishikesh under the Chairmanship of RBI Governor Shaktikanta Das. The board reviewed global and domestic economic and financial developments, including challenges posed by the evolving geopolitical conflicts, the central bank said in a statement. "The board also discussed the functioning of various sub-committees of the central board, the ombudsman scheme and activities of select central office departments," it added. Deputy governors Michael Debabrata Patra, M Rajeshwar Rao, T Rabi Sankar, and Swaminathan J attended the meeting. The other directors of the central board -- Revathy Iyer, Sachin Chaturvedi, Pankaj Ramanbhai Patel and Ravindra H Dholakia -- were also present in the meeting. Department of Economic Affairs Secretary Ajay Seth also participated th