The Reserve Bank did not come across any governance or conduct-related issues during supervisory inspection of HDFC Bank, Governor Sanjay Malhotra said on Wednesday. Responding to a question at the post-monetary policy press conference on sudden resignation of HDFC Bank Chairman Atanu Chakraborty and subsequent fall in its share price, Malhotra said RBI had also seen minutes of meetings of the lender, and the RBI did not find any thing of material concern. He said the RBI in its press release on March 19 too had said there were no material concerns on record as regards the bank's conduct or governance. "HDFC Bank is a Domestic Systemically Important Bank (D-SIB) with sound financials, professionally run board and competent management team. Basis our periodical assessment, there are no material concerns on record as regards its conduct or governance," the RBI said in its press release. Chakraborty had resigned on March 18. Malhotra also asserted that India's banking system is "very
On the growth side, the RBI has maintained a positive outlook, projecting gross domestic product (GDP) growth at 6.9 per cent for FY27
RBI MPC meet: RBI Governor Sanjay Malhotra clarified that publishing a core inflation forecast is not a change in policy approach and the central bank will continue to focus on headline inflation
RBI flags inflation risks and trims FY27 growth to 6.9% despite US-Iran ceasefire relief. Gaura Sengupta highlights 5 key risks that RBI policy flags for India's economy
In a post-monetary policy briefing, Malhotra said the central bank had observed heightened volatility in the foreign exchange market in recent weeks
RBI maintained that the weighted average call rate (WACR) is its operative rate, and it aims to keep it as close to the policy repo rate as possible
From the growth perspective, the governor's comment that " growth impulses remain strong, supported by robust private consumption and sustained investment demand" is significant and reassuring
Elevated crude oil prices could raise imported inflation and widen the current account deficit, he says
RBI flags rising risks from the West Asia conflict through energy prices and supply disruptions, but says India's economy is stronger and better placed to withstand shocks than before
RBI Governor Sanjay Malhotra said the West Asia conflict has raised risks to growth and inflation via oil, trade, and supply chains, but government steps on supply chains and exports may limit the imp
The RBI held the repo rate steady at 5.25% and kept its policy stance neutral. It said global tensions and higher energy prices remain key risks for inflation and economic growth
Rate cuts can now be ruled out and the question will be more on when there can be a rate hike. A clearer picture will emerge over the next few months
RBI keeps repo rate unchanged at 5.25 per cent and retains a neutral stance, while warning that crude oil volatility and the Iran conflict could pose upside risks to inflation
RBI MPC April meeting: In its policy meeting, which took place between April 6-8, the committee continued with the 'neutral' stance
Cooling crude prices after a US-Iran ceasefire lifted sentiment, pulling down yields and supporting the rupee ahead of the Reserve Bank of India's policy decision
The rupee is likely to open in the 92.40-92.50 range versus the US dollar, having settled at 93.0075 on Tuesday
RBI MPC meet: In the February policy review, the MPC kept the repo rate unchanged at 5.25 per cent and continued with the 'neutral' stance
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In its MPC decision on April 8, even if RBI holds rates, markets will track crude, rupee, yields, liquidity and intervention signals to gauge stress from oil volatility and external risks
RBI now faces a dilemma over whether to raise interest rates to support the currency or keep borrowing costs low to cushion economic growth