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
He said that the UCBs must maintain high standards of customer service to build and retain trust
According to the RBI data, during 2023-24, the Centralised Receipt and Processing Centre and Offices of Reserve Bank of India Ombudsman (ORBIOs) received 934,000 complaints
"In this age of competition, we will not survive long if we do not provide quality service to our consumers," Malhotra said in a speech on Monday at the annual conference of the RBI Ombudsmen
He also emphasised that the RBI values such interactions with ecosystem participants and would continue to adopt a consultative approach
This is reflected in the measures taken by the central bank in the past few months to spur economic growth and ease liquidity tightness
Members said it was MPC's turn to do its bit after Budget booster
He said that although some people live at subsistence levels and the government must provide certain safeguards, there should be a limit on such provisions
RBI Governor Sanjay Malhotra says market determines rupee depreciation, touches on necessary regulations surrounding cryptocurrency
Reserve Bank Governor Sanjay Malhotra on Saturday said that the market forces decide the value of rupee with respect to the US dollar and the central bank is not worried about day-to-day movement of the currency value. Addressing the media after the meeting of Finance Minister Nirmala Sitharaman with the Reserve Bank board, Malhotra said that the central bank focuses on the value of the rupee in the medium to long term. On the impact of the depreciation of the rupee against the US dollar on price rise, the Governor said 5 per cent depreciation impacts domestic inflation to the extent of 30-35 bps. He further said that RBI took on board the current rupee-dollar rate while working out growth and inflation projections for the next financial year. Replying to a question, Finance Minister Sitharaman said the Union Cabinet has cleared the new income tax proposal and she hopes to have it introduced in the Lok Sabha in the coming Week. Thereafter it will be sent to a parliamentary standin
The RBI also noted that bank funding to non-banking finance companies (NBFCs) has declined following the increase in risk weight on bank loans to shadow banks
"Trade-offs between stability and efficiency will be kept in mind"
Bond market participants said that in bond forwards, there will be actual delivery of bonds