Page 110 - Rbi

With growth steady, policy must focus on inflation: RBI Governor Das

Reserve Bank Governor Shaktikanta Das on Friday said the monetary policy has to be "clearly and unambiguously" focused on inflation in an environment like the current one, where growth is steady. Amid a debate around neutral rates, Das said "theoretical and abstract concepts" as arrived at are based on a person's judgment and cannot determine the policy in the real world. It can be noted that the RBI has been steadfastly maintaining the status quo on interest rates, and there is increasing dissent among some members of the rate-setting panel who are in favour of rate cuts to promote economic growth lately. Replying to those who flag the impact on growth because of the elevated interest rates, Das said that the growth has been robust even with the current interest rates and added that RBI is optimistic that its 7.2 per cent real GDP expansion estimate for FY25 is being achieved. Moreover, the nowcast team is pointing towards a 7.4 per cent growth in the June quarter as against the .

Close coordination with govt helped in economy's quick revival: RBI Guv

Governor Shaktikanta Das on Friday said the Reserve Bank's relations with the government have been "smooth" during his nearly six-year term, and credited the close coordination between the two for the quick revival of the economy after the pandemic. Speaking at an event organised by Financial Express here, the bureaucrat-turned-central banker said nobody has expected him to be a "cheerleader" for the government during his term. "I am saying from my experience. Nobody expects RBI to be a cheerleader. I have had no such experience," he said, responding to a specific question about a lament made by one of his predecessors in a recent book. Asked if he is open for a new term at Mint Road, Das said he is very focused on the current assignment and does not think of anything outside that. Das said the RBI is optimistic that its estimate of 7.2 per cent growth for FY25 will be met, and added that with steady growth, the focus of the policy has to be "clearly and unambiguously" on inflation

These 10 transactions must be reported as fraud to RBI within 14 days

ncidents of fraud at overseas branches of Indian banks shall also be reported to the concerned overseas LEAs in accordance with the relevant laws / regulations of the host countries.

Small and safe? Banks, fintech loans under Rs 50,000 on RBI radar

Scrutiny strengthened after regulated entities were in November asked to review exposure limits for consumer credit

Outward remittances fell 16% in May due to increase in TCS: RBI bulletin

Remittances under the scheme stood at $2.42 billion in May 2024

'Every silver lining has a cloud': RBI as veg price rise halts disinflation

Move towards 4% target should provide signal for monetary policy to respond

Labour productivity shrank in 9 industries during FY23: RBI's KLEMS data

Eight of these nine industries belong to the manufacturing sector

IDBI Bank stake sale: RBI vetting process in last leg, report by month-end

The central bank's clearance will be seen as an important milestone for the bank's strategic disinvestment

Neutral rate raised on shift in potential output, says RBI bulletin

"With headline GDP growth rates trending higher after the pandemic, a step up in the natural rate estimates appears appropriate," said Aditi Nayar, chief economist, ICRA

NRI deposits see $3 billion inflows in April-May FY25, shows RBI data

In May alone, inflows into the various NRI schemes stood at $1.7 billion compared to $1.07 billion in April

Union Budget 2024 to signal next steps for IDBI Bank privatisation

IDBI Bank's market capitalisation is around Rs 95,000 crore. The government could secure close to Rs 29,000 crore for the sale of 30.5% of its 45.5% stake

Rs 32,619 cr and rising: India Inc back with overseas bonds in 2024

Reduced hedging cost, appetite for high-yield bonds help big-dollar borrowing

MSMEs urge RBI to allow P2P lending, crowdfunding to overcome credit gaps

Cite examples of other countries' regulatory frameworks for crowdfunding

Skill mismatch: Rising labour quality, stagnant employment in key sectors

RBI data reveals rising labour quality in industries like textiles and mining, but stagnant employment growth highlights a skill mismatch

RBI calls on lenders to hear borrowers before declaring account fraud

Move follows SC ruling for complying with principles of natural justice

India's outward FDI rises to $2.14 billion in June, shows RBI data

Outward FDI was $3.16 billion in April-June 24

Lenders must hear loan defaulters before declaring accounts fraud: RBI

Banks will now have to issue a show-cause notice to fraudulent entities, with complete details of the fraud, the Reserve Bank of India said in a release

Finances of municipalities need overhaul as amenities crumble due to rains

Indivjal Dhasmana looks at finances of major civic bodies to analyse why they are underprepared perennially

Maintaining regulatory balance

Besides depositors, investors in bank securities are important stakeholders, and their interests ought to be safeguarded

India can be world's second-largest economy by 2031: RBI DG Patra

Evidence of households switching to physical assets; FY26 average inflation seen at 4.1%