Page 17 - Rbi Governor

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

Only time will tell how long interest rate will remain high: RBI Governor

Interest rate is likely to remain high for the moment, Reserve Bank Governor Shaktikanta Das said, stressing the central bank will remain extra vigilant and keep "Arjun's eye" to ensure a sustained decline in inflation. The lending rates are ruling high after the RBI cumulatively hiked the key policy rate (repo) by 250 basis points since May 2022 in a bid to tame inflation which touched a high of 7.44 per cent this July. The consumer price index (CPI) based retail inflation is now declining and fell to 5 per cent in September. The government has mandated the central bank to ensure inflation remains at 4 per cent with a margin of 2 per cent on the either side. "Interest rate will remain high. How long they will remain high, I think only time and the way the world is evolving will tell," the governor said in response to a query at Kautilya Economic Conclave 2023. On the sidelines of the Conclave, Das said the RBI remains very focused on the inflation dynamics. "We are extra vigilant

Currency markets interventions not always 'black and white': RBI Governor

Reserve Bank of India Governor Shaktikanta Das was referring to the U.S. Treasury Department's regular foreign exchange report and similar research by the International Monetary Fund (IMF)

Call money rates may ease after RBI guv Das urges to lend in overnight mkt

The SDF rate is 6.25 per cent, which is lower than the call money rate

87% of Rs 2,000 notes came as bank deposits after withdrawal:RBI Guv Das

Reserve Bank Governor Shaktikanta Das on Friday said 87 per cent of the Rs 2,000 denomination notes being withdrawn have returned as deposits into banks while the rest has been exchanged across counters. Addressing a press conference after the announcement of the bi-monthly monetary policy review, Das said Rs 12,000 crore of the Rs 3.56 lakh crore worth of Rs 2,000 notes in circulation as on May 19, 2023 are yet to come back. Last on Saturday, the RBI had said that Rs 3.42 lakh crore of notes had been received back as of September 29, and Rs 14,000 crore was yet to come back. The central bank had also extended the deadline for return of the notes by a week. Das said the RBI wants to "emphatically" focus on the 4 per cent headline inflation target, and till the price rise number does not get down, the monetary policy will be "actively disinflationary". As the banker to the government, the RBI does not have any worry on the central government finances, Das said. The "outlier" loan .

RBI MPC LIVE: Original aim of Rs 2000 note withdrawal largely met, says Das

RBI policy: In the last bi-monthly announcement in August, the MPC decided to keep the benchmark repo rate unchanged at 6.5% for the third time in a row. Check all LIVE updates for today's MPC here

RBI's rate setting body starts deliberations amid expectation of status quo

RBI Governor Shaktikanta Das-headed Monetary Policy Committee (MPC) started its three-day meeting on Wednesday amid expectations of a status quo on the rate front in its bi-monthly monetary policy review. The policy review will be announced on Friday morning. In case of a status quo, interest rates for retail, as well as corporate borrowers, would remain stable. Experts believe that the Reserve Bank will retain the benchmark rate at 6.5 per cent in view of the elevated inflation and global factors. The Reserve Bank started increasing the policy rate in May 2022 in tranches, in the wake of the Russia-Ukraine war and took it to 6.5 per cent in February this year. Since then, it has kept the rate unchanged in the last three successive bi-monthly monetary policy reviews. "The credit policy this time will most likely continue with the existing rate structure as well as policy stance. Hence, the repo rate will be retained at 6.5 per cent with the stance of withdrawal of accommodation," .

Need to avoid dominance of 1-2 directors on boards: RBI Governor Das

Das asserted that directors in UCBs, who are elected to their positions, must possess expertise in diverse banking functions, including risk management and information technology

RBI not comfortable with NPAs in UCBs, asks lenders to focus on governance

RBI Governor Shaktikanta Das on Monday said the central bank is "not comfortable" with the gross non-performing assets ratio of 8.7 per cent in urban cooperative banks (UCBs) and asked them to work towards improving the same. Addressing directors of UCBs in the financial capital at an RBI-organised conference, Das urged that such lenders should improve the governance standards, avoid related-party transactions and focus on credit risks, among others. It can be noted that the UCB sector has been fraught with multiple challenges and also witnessed difficult times in the recent past, like the implosion of the city-headquartered Punjab and Maharashtra Bank. Das reminded the directors of the UCBs that banks run on depositors and added that protection of the hard-earned money pooled in from the middle class, poor and retirees is far more sacred than going to a temple or a gurdwara. While the overall picture at an aggregate level looks nice, the situation on GNPAs and capital adequacy is

Combatting cybercrime key element in nurturing trust: RBI Dy governor

The Deputy Governor held a meeting with heads of the Customer Service Committee of the Board, managing directors, executive directors in charge of customer service verticals

Top headlines: Delhi gears up for G20 Summit, Biden set to travel India

Business Standard brings you the top headlines at this hour

Fintech companies need to set up self-regulatory body: RBI governor

He cautioned the fintechs that they should not get carried away with valuations and revenue but need to focus on customer satisfaction