Page 142 - Rbi

A pragmatic policy

Growth prospects are robust domestically. Key drivers on the demand side, household consumption will improve further, while prospects of fixed investment remain bright

Builders seek interest rate cut in RBI's next meet to boost housing demand

Realtors on Thursday demanded that the RBI should consider reducing the repo rate in its next monetary policy review meeting to boost sales of residential properties, while welcoming stability in the interest rate regime. Real estate developers and consultants feel that the strong momentum in the housing market will continue with the RBI deciding to keep the key policy rate unchanged. The RBI decided to keep the policy rate unchanged for the sixth time in a row in view of global uncertainty and the need to bring down retail inflation to 4 per cent. RBI governor Shaktikanta Das in his statement said the buoyant demand for residential housing, coupled with increased thrust on government capex, is expected to propel construction activity. Realtors' apex body CREDAI President Boman Irani said the high GDP growth indicates that the "Indian economy is stable with relatively healthy macro-economic indicators and can absorb any impact of a repo rate cut, if announced, in the next financial

Rupee settles on flat note at 82.96 after RBI monetary policy decision

The rupee settled on a flat note at 82.96 (provisional) against the US dollar on Thursday, after the Reserve Bank decided to keep the key policy rate unchanged for the sixth time in a row to maintain a tight vigil on inflation. Forex traders said a negative trend in domestic equities weighed on investor sentiments. At the interbank foreign exchange, the rupee opened at 82.94 against the dollar and moved in a narrow range and settled for the day at 82.96 against the American currency, as the central bank retained the repo rate at 6.5 pc for the sixth consecutive time. During the day, the rupee touched an intraday high of 82.89 and a low of 83 against the US dollar. On Wednesday, the rupee appreciated 9 paise to close at 82.96 against the dollar. The Indian rupee remained flat as RBI maintained status quo in its monetary policy for the sixth consecutive time and left Repo Rate unchanged at 6.5 per cent, in line with street expectations. The central bank revised FY24 GDP projections

RBI MPC keeps repo rate at 6.5%: What does real estate industry think?

Repo rate unchanged: The experts in the real estate industry said that this decision is likely to keep the momentum in the industry intact

RBI clampdown on Paytm Payments Bank followed persistent non-compliance

"When such constructive engagement does not work or when the regulated entity doesn't take effective action, we go for imposing supervisory or business restrictions," Guv Das said

RBI MPC: Repo rate kept at 6.5%; Q4FY24 inflation forecast lowered to 5%

RBI policy meet: The RBI MPC has also decided to keep its stance of 'withdrawal of accommodation' unchanged

PPBL crisis: We give enough time to comply with rules, says RBI Governor

Paytm Payments Bank crisis: Das said, 'The RBI is and will continue to encourage and support innovation and technology in the financial sector'

42% of Indian kirana stores have already shifted away from Paytm: Report

The trust in Paytm has decreased among 68% of Indian Kirana stores after the RBI announcement on January 31, a report released on Thursday said

Confusion and concern: Traders brace for impact of Paytm crisis

Some shift to alternatives and shun the platform, others still swear by it

RBI holds policy rates, stance unchanged over inflation concerns

'Imperative for monetary policy to actively pursue disinflation to anchor inflation expectations,' says Shaktikanta Das

Stock markets settle flat in volatile trade ahead of RBI's rate decision

Benchmark stock indices Sensex and Nifty closed flat in a volatile trade on Wednesday as investors stayed on the sidelines ahead of RBI's interest rate decision on Thursday. The 30-share BSE Sensex declined 34.09 points or 0.05 per cent to settle at 72,152. During the day, it hit a high of 72,559.21 and a low of 71,938.22. The Nifty ended marginally up by 1.10 points or 0.01 per cent to 21,930.50. IT shares TCS, Infosys and Tech Mahindra declined due to profit taking offsetting gains from select banking and pharma shares. "The domestic market exhibited cautious range-bound movement, despite robust PMI data and favourable global cues ahead of RBI policy meet. While no change in stance is anticipated, the RBI's commentary on any hints regarding potential rate cuts and improvements in liquidity will be closely monitored," Vinod Nair, Head of Research, Geojit Financial Services said. Among the Sensex firms, State Bank of India rose the most by 3.78 per cent after the bank announced th

It is for RBI to deal with Paytm issue, says Financial Services Secy Joshi

Financial Services Secretary Vivek Joshi on Wednesday said it is for the Reserve Bank to deal with the Paytm issue and the government has nothing to do with the matter for now. He also said that Paytm Payments Bank Ltd (PPBL) is a small financial entity and there are no systemic stability concerns. Amid concerns over non-compliance, Reserve Bank of India (RBI) has taken various measures against PPBL wherein it will not be allowed to offer any services concerning deposits, prepaid instruments and e-wallet after February 29. The entity has also been directed to stop onboarding new customers. "It is action taken by the regulator. They regulate the banks. The government has had nothing to do until now when it comes to the actions taken against Paytm. And we believe that RBI must have taken the action in the overall interest of the consumer and the economy," Joshi told PTI in an interview. With regard to Foreign Direct Investment (FDI) in Paytm's payment aggregator subsidiary, he said

Paytm shares rise amid news reports of CEO meeting FM, RBI officials

Paytm's stock price ended the session at Rs 496.7 on Wednesday. Still, since January 31 - when the RBI ordered its payments bank division to stop accepting fresh deposits from March

Mutual funds knock RBI door for hike in foreign investment limits

According to MF officials, opening the MF route for international investment should not make much difference to the rupee's stability, given that other routes for foreign remittance remain open

NPCI working on Digital Payments Score to scale up credit economy in India

DPS may look at a person's finances such as timely payments and periodic bill payments

RBI conducts two VRRR auctions again to balance liquidity within system

Market participants are attempting to address the uneven liquidity and absorb the excess liquidity resulting from government spending, stated a dealer at a primary dealership

Govt bond yields settle lower ahead of RBI's policy outcome

The overall market sentiment has remained positive after the government said it aims to reduce the fiscal deficit and lower its gross borrowing by a wide margin next financial year

Rupee to gain slightly this year amid continued RBI intervention: Report

The RBI is still widely expected to cut rates later this year, but at a much slower pace than the Fed, so relative rupee strength may linger

RBI mulls revoking Paytm Payments Bank licence or superseding board

Action may come once pipeline transactions settled

RBI conducts two VRRR auctions in a single day for the first time

The central bank will conduct another overnight VRRR auction of Rs 50,000 crore on Wednesday