Page 7 - Rbi Governor

Repo rate cut to provide long-awaited relief on interest rates: Experts

The repo rate cut by 25 basis points by the monetary policy committee (MPC) of RBI announced Friday will give a long-awaited relief on interest rates and also be supportive of economic growth, according to experts. Repo rate is the interest rate at which the RBI lends money to commercial banks. Chief economist of Crisil Limited Dharmakirti Joshi said that as expected, the MPC of the central bank cut rates for the first time since May 2020. The repo rate has been cut by 25 basis points which now stands at 6.25 per cent. Joshi said that the recent easing in consumer price index (CPI) inflation and the need to remain supportive of economic growth has moved the RBI to act in this regard. However, the MPC maintained the policy stance at 'neutral', which gives flexibility to remain data dependent and respond to exigencies, Joshi said. The MPC moves in the future will depend more on domestic inflation, he said. "Elevated rates have impacted India's GDP growth, while the budget for the

RBI's growth, inflation projection offers comfort to markets and investors

State of government finances, concessions offered to tax-payers, and the commitment to progress on the fiscal glide path is eminently complemented by the monetary measures makes this policy different

RBI will implement major regulations in phased manner, says Governor

Consultative process in making regulations will continue: Sanjay Malhotra

RBI's rate cut to have limited impact, more needed to boost housing: Credai

Realtors' apex body CREDAI on Friday said the RBI's decision to cut benchmark lending rate by 25 basis points might have "limited direct impact" and sought further reduction in the next monetary policy meet for "stronger impetus" to housing demand. Reduction in repo rate may lead to lowering of interest rates on home loans provided banks decide to pass on the benefits. Commenting on the monetary policy announcement, CREDAI National President Boman Irani said, "The RBI's decision to reduce repo rate by 25 basis points to 6.25 per cent supplements recent announcements in the Budget aimed at boosting spending and spur economic growth." This supportive monetary policy was "imperative", especially after the recent 50 basis points reduction in Cash Reserve Ratio (CRR), which has already injected significant liquidity into the banking system, he added. "While the current cut may have a limited direct impact, we anticipate that a further rate cut in the next MPC meeting will provide strong

RBI Guv Sanjay Malhotra cautions lenders against rising digital frauds

The governor said the RBI is introducing an exclusive domain name for banks called 'bank.in', while for non-bank entities in the financial sector the domain name will be 'fin.in'

Banks to have 'bank.in' internet domain name, non-banks 'fin.in': RBI

In order to check cyber security threats, the Reserve Bank on Friday decided that Indian banks will have exclusive internet domain name 'bank.in' and non-bank financial entities 'fin.in'. Unveiling the last bi-monthly monetary policy of this fiscal year, RBI Governor Sanjay Malhotra said registrations for 'bank.in' will commence from April 2025, and going forward 'fin.in' will be introduced. The decision is aimed at enhancing trust in the financial sector, he said adding the increased instances of fraud in digital payments are a significant concern. "To combat the same, the Reserve Bank of India (RBI) is introducing the 'bank.in' exclusive Internet Domain for Indian banks," he said. The initiative aims to reduce cyber security threats and malicious activities like phishing, and streamline secure financial services, thereby enhancing trust in digital banking and payment services. The Institute for Development and Research in Banking Technology (IDRBT) will act as the exclusive ...

RBI proposes security step for international card not present transactions

AFA is the use of more than one factor for authenticating a payment instruction and was previously mandated only for domestic transactions

RBI Monetary Policy meet: RBI MPC cuts repo rate by 25 bps to 6.25%

The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) has decided to cut the repo rate for the first time in two years, reducing it by 25 basis points to 6.25 per cent from 6.5 per cent

RBI monetary policy: Dec MPC highlights and what to expect on Feb 7

RBI prepares to announce its latest monetary policy decision on Feb 7. This will be the first meeting held under the leadership of Governor Sanjay Malhotra

New RBI Governor Sanjay Malhotra expected to begin interest rate cuts

The governor is chairing an almost entirely new six-member monetary policy committee

Economy well-placed to deal with any spillover from external world: Das

"There are significant upside risks to inflation from geopolitical conflicts, geoeconomic fragmentation, climate-related concerns, and commodity prices going up"

RBI Governor Sanjay Malhotra flags rising issue of digital frauds

Asks banks to suggest steps for enhancing ease of doing business

Ex-RBI Guv Raghuram Rajan lauds Modi govt, hopes job market to get boost

Former RBI Governor Raghuram Rajan on Tuesday lauded the Modi government for doing a lot of good work on the infrastructure front in India and hoped there would be some concrete steps in the upcoming Budget to boost the job market. Speaking at a session on the US dollar here at the World Economic Forum Annual Meeting, Rajan also said the depreciation in rupee to near Rs 85-level against the US dollar is more because of the strengthening of the American currency rather than any domestic factor. The Modi government has done a lot of good work on the infrastructure front but the other key pillar that needs to boost consumption is the job market, he said. India is growing at 6 per cent, which is actually great but when we look at per capita figures, it needs to grow much faster, Rajan said. There is an urgent need to boost the job market, he said, adding, "a Union Budget is due in the next few days and hopefully we will see something there". When people talk about US dollar remaining

RBI forms new committee for bank license, chaired by former DG Jain

RBI said that, "The secretarial support to the committee would be provided by RBI's Department of Regulation"

RBI Guv's crafted statements boosted confidence during adverse times

The study highlighted that effective communication goes beyond being clear, understandable, and engaging

RBI Governor Malhotra shows willingness for a more flexible rupee

Malhotra showed keen interest in the RBI's currency intervention functions and expressed no opposition when his team explained the recent movements in the rupee and the need to allow it to depreciate

Ahead of Feb policy, RBI guv Malhotra to meet bank chiefs on Thursday

The interaction is part of the pre-monetary policy consultations

RBI's new Guv initiates review of inflation, growth forecasting tools

Malhotra, who took charge last month, is asking the RBI's internal teams to include new datasets, analysis and projections in their inflation and growth forecasts

2025 outlook: RBI's regulatory focus on innovation, stability, and fairness

RBI's focus on customer, compliance and collaboration will continue in 2025. It will have new initiatives balancing innovation and prudence

Manmohan Singh's economic reforms left indelible mark: RBI Guv Malhotra

Manmohan Singh's contributions as the architect of India's economic reforms have left an indelible mark, RBI Governor Sanjay Malhotra said on Friday as he paid tribute to the departed soul. Singh, the former prime minister and finance minister, also served as the RBI governor between 1982 and 1985. "I am deeply saddened on the passing away of former Prime Minister, Dr. Manmohan Singh, a visionary economist and former RBI Governor. His contributions as the architect of India's economic reforms have left an indelible mark. @RBI joins the nation in mourning this huge," Malhotra said in a post on X. Singh, the architect of India's economic reforms, died here on Thursday night at the age of 92. When Singh took the reins of the finance ministry in 1991, India's fiscal deficit was close to 8.5 per cent of the GDP, the balance of payments deficit was huge and the current account deficit was close to 3.5 per cent of GDP. To make things worse, foreign reserves were just enough to pay for tw