Page 18 - Rbi Monetary Policy

Inflation above target: MPC to meet on Nov 3 to discuss response to govt

The announcement notifying an additional meeting of the MPC has been made as per Section 45ZI (4) of the RBI Act 1934, the RBI said on Thursday

Demonetisation behind the buoyancy in tax collections, says RBI MPC member

RBI Monetary Policy Committee (MPC) member Ashima Goyal has attributed the rise in tax collections to demonetisation and said that it will help the nation move towards the ideal situation where low taxes are levied on a large base. On November 8, 2016, Prime Minister Narendra Modi announced the demonetisation of old Rs 1,000 and Rs 500 banknotes and one of the key objectives of the unprecedented decision was to curb black money flows and promote digital payments. Noting that demonetisation had short-term costs but some long-term benefits, Goyal said it enhanced digitisation and formalization in the economy and reduced tax evasion, although all this has further to go. "It contributed to the buoyancy in taxes the country is benefitting from today. This helps us move towards the ideal of low tax rates on a large base," she told PTI. The tax department on October 9 said that the gross collection of tax on corporate and individual earnings jumped nearly 24 per cent so far in the current

Is the worst of inflation behind us?

RBI says that the inflation might have hit the peak and it could start to lose steam from now. Some say the RBI should breathe easy, while others say it shouldn't. Is the worst of inflation behind us

Competition for funds drives SBI to hike savings deposit rate by 30 bps

Balances of Rs 10 cr and above to earn 3% rate of interest Oct 15 onwards; 2.7% rate unchanged on deposits below Rs 10 cr

Can't expect inflation to drop faster by raising rates: Jayanth R Varma

I think we can bring inflation down to 5 per cent in a couple of quarters, says MPC member Varma

What is the future course of action as per RBI MPC member Ashima Goyal?

Ashima Goyal was the only dissenting Monetary Policy Committee member who pitched for 35 basis point rate hike while RBI raised rates by 50 points. Business Standard's Bhaskar Dutta caught up with her

RBI's repo rate hike was necessary to combat inflation risks: MPC minutes

The MPC is of the view that further calibrated monetary policy action is warranted to keep inflation expectations anchored

RBI tightens disclosure norms on divergence in NPAs, provisions

Also makes them applicable to UCBs

RBI plays out familiar script, more rate hikes to follow

In 2019, when retail inflation was 3%, the policy rate was 5.75%. Now inflation hovers around 7% and the policy rate is 5.9%. It needs to move up

Markets rebound after seven-day losing streak; Sensex zooms 1,000 pts

More than the monetary policy decision, the RBI's assessment of inflation and growth propelled the markets, said experts

RBI raises repo rate by 50 bps to 3-year high; FY23 GDP forecast cut to 7%

Inflation target retained at 6.7%; trajectory remains uncertain: Governor

67% of fall in forex reserves due to valuation changes: RBI governor Das

Das reiterated on Friday the RBI does not target any particular level for the domestic exchange rate and only intervenes in the market to smoothen out excessive volatility

Inflation seen staying above 4% in FY23, to average 5.2% in FY24: RBI

Das says RBI won't make public the communication on failure of achieving target to govt

Rupee fluctuations not a factor for MPC's consideration, says RBI

'Net LAF continues to be in surplus for the past two years, except for 2-3 days when because of SLF for the primary dealers it became deficit'

RBI expects inflation to come down to 4% over the next two years

RBI which announced the review of policy today, decided to increase the policy repo rate by 50 bps to 5.9%

Inflation, external pressure priority over growth: Finance ministry

The MPC also cut its FY23 GDP growth forecast to 7 per cent from 7.2 per cent, with Governor Shaktikanta Das acknowledging that there were downside risks to economic growth

Raising the rate and the bar

Finally, the RBI is right in not providing a forward guidance in the current uncertain environment but providing a detailed explanation of keeping the stance unchanged

System ready for tokenisation, says RBI deputy governor T Rabi Sankar

Roughly 350 million tokens have been created so far, Rabi Sankar said in the post-monetary policy press conference.

HDFC raises lending rate by 50 basis points; home loan EMIs to increase

Mortgage lender HDFC Ltd on Friday hiked its lending rate by 50 basis points hours after the Reserve Bank raised the benchmark interest rate to tame inflation. The move would increase EMIs for housing loans by the firm. "HDFC increases its Retail Prime Lending Rate (RPLR) on Housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 50 basis points, with effect from October 1, 2022," the country's biggest housing finance company said in a statement. This is the seventh rate increase undertaken by HDFC in the last five months. Other financial institutions and banks are also expected to follow suit after the RBI on Friday raised the key interest rate by 50 basis points, the fourth straight increase since May. The Monetary Policy Committee (MPC), comprising three members from the RBI and three external experts, raised the key lending rate or the repo rate to 5.90 per cent -- the highest since April 2019 -- with five out of the six members voting in favour of th

Sensex jumps 1,017 pts on RBI's 50-bps hike; Nifty nears 17,100; banks lead

CLOSING BELL: The benchmark indices snapped their seven-day losing streak as the RBI delivered a 50-basis point repo rate hike, and underscored the resilience of the Indian economy in his statement