RBI monetary policy: The MPC decision will be announced by Shaktikanta Das at 10 am on Friday, followed by a press conference at noon
That stability has been largely driven by the RBI's continued intervention in FX markets. Its foreign exchange reserves recently hit a record high of $642.63 billion
Stock market Update on Wednesday, April 03: Till 3:30 PM, Bharti Hexacom IPO was subscribed 30 per cent led by retail investors
The RBI had said in January that effective April 5, exchanges may offer forex derivative contracts involving the rupee to users "for the purpose of hedging contracted exposure"
The Reserve Bank of India's job to bring down inflation is not over, and any premature move on the policy front could undermine the success achieved so far on the price situation, according to RBI Governor Shaktikanta Das. According to the minutes of the February Monetary Policy Committee (MPC) meeting released by the central bank on Thursday, Das had said at this juncture, monetary policy must remain vigilant and "not assume that our job on the inflation front is over". He stressed that the MPC must remain committed to successfully navigate the "last mile" of disinflation that can be sticky. Das made the remarks while voting for status quo in the key interest rate earlier this month. "As markets are front-running central banks in anticipation of policy pivots, any premature move may undermine the success achieved so far," the governor said, as per the minutes.
Inflation will average 5.4% this fiscal year and 4.7% in the next, a separate Reuters poll showed, close to the RBI's forecasts of 5.4% and 4.5%
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Stock market highlights on February 8, 2024: The Nifty PSU bank index climbed 2 per cent, while the Nifty Private Bank index fell 2.5 per cent. Individually, Paytm, and ITC crashed up to 10 per cent
RBI policy meet: The RBI MPC has also decided to keep its stance of 'withdrawal of accommodation' unchanged
RBI MPC Meeting Live Updates: RBI's MPC which began on February 6 has concluded today. The Central bank's MPC has decided to keep the repo rate unchanged at 6.5%. Catch all updates here
Digital rupee users will soon be able to execute transactions in areas with limited internet connectivity as the RBI on Thursday announced that offline capability will be introduced on the Central bank digital currency (CBDC) pilot project. Reserve Bank of India Governor Shaktikanta Das said that programmability-based additional use cases will be introduced as part of the pilot project. RBI launched a pilot of the retail CBDC in December 2022 and achieved the target of having 10 lakh transactions a day in December 2023. It can be noted that other payment platforms, especially the very popular Unified Payments Interface (UPI), already offer offline possibilities. "it is proposed to introduce an offline functionality in CBDC-R (Retail) for enabling transactions in areas with poor or limited internet connectivity," Das said while announcing the bi-monthly monetary policy review. He said multiple offline solutions, which include both proximity and non-proximity based ones, will be tes
Home loan rates are already lower compared to 2023 levels where they had started touching 9 per cent. The lowest home loan rates today are in the 8.30 range
RBI monetary policy time: The MPC decision will be announced by Shaktikanta Das at 10 am on Thursday
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The RBI MPC meeting will conclude on February 8, following which the RBI Governor Shaktikanta Das will announce the decision of the committee
Market participants are also hoping for some relief from the RBI on the liquidity front with the system deficit having hit a record high in January
RBI MPC: In a poll conducted by Business Standard, all 10 respondents said that the MPC might maintain the status quo for a sixth consecutive time
Indian bonds have rallied over the past three months, fueled by overseas inflows ahead of global index inclusion starting June
Focus on liquidity; few expect neutral stance
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