Page 124 - Reserve Bank Of India

'RBI need not rush to ease rates unless certain of stable-low inflation'

Bhide's comments echo that of Governor Shaktikanta Das that a pivot can be considered when price-gains settle near the mid-point of its 2%-6% range on a durable basis

RBI's pivot to rate cuts to begin only in early 2024: Rating agency S&P

In India, under the assumption of normal monsoons, the rating agency expected the headline consumer inflation to soften to 5.0 per cent in fiscal 2024 (FY24) from 6.7 per cent in FY23

Credit card dues up 30% in Apr; cross Rs 2 trillion mark for the first time

The Reserve Bank of India (RBI) has expressed its concern about the growing unsecured bank credit

More than two-thirds of Rs 2,000 notes returned within one month: Das

Reserve Bank Governor Shaktikanta Das has said that within a month of the recall order, more than two-thirds of the Rs 2,000 currency notes have returned to the system. In a surprise move, but as part of the clean note policy, the Reserve Bank had on May 19 ordered the recall of the Rs 2,000 banknotes worth around R 3.62 lakh crore. On June 8, announcing the second monetary policy review of the fiscal, Das had said around Rs 1.8 lakh crore worth of the Rs 2,000 notes have been returned, accounting for approximately 50 per cent of the notes in circulation as of March 31, of which 85 per cent were in deposits and the rest in exchange. "More than two-thirds or Rs 2.41 lakh crore worth of the Rs 3.62 lakh crore (as of March 31, 2023) of the now-recalled 2000 banknotes have come back to the system as of mid-last week," Governor Das told PTI Bhasha in an interview at the RBI headquarters last week. Of the total money that has come back to the system, as much as 85 per cent are in deposit

Will strive to get CPI to 4%, El Nino a challenge for food inflation: Das

Governor Shaktikanta Das has said the Reserve Bank will strive to get headline inflation to its 4 per cent target but flagged El Nino as a challenge to its efforts. In an exclusive interview with PTI Bhasha at his office here, Das exuded confidence that the economy will grow at 6.5 per cent in FY24, as estimated by the RBI earlier. The central bank's rate hikes by a cumulative 2.50 per cent since May last year, coupled with supply-side measures from the government, have helped get the inflation down to 4.25 per cent in May from a peak of 7.8 per cent in April last year, Das said. "We continue to be watchful on the inflation front. We expect inflation to be at 5.1 per cent in FY24, and we will continue to strive and get it down to 4 per cent," he added. On the high borrowing costs, Das said interest rates have a direct relation with inflation, and the RBI can cut interest rates if the consumer price inflation cools down to 4 per cent or thereabouts on a durable basis. The governor

Inflation is slowing down personal consumption expenditure: RBI report

Even if the central bank has not ruled out further interest rate hikes, bank lending and deposit rates have started to soften

India and UK regulators close to resolving clearing house impasse

The legal framework of India, as implemented by the RBI, provides for an effective equivalent system for the recognition of central counterparties authorised under other regimes of other countries

Manipur violence: What are RBI's riot relief measures invoked by the state?

The rules under these measures specify several norms that must be followed for restructuring the loans, providing fresh loans and other measures, including KYC norms

Rewards and risks

Picking small stocks is always difficult

RBI supervision not meant to be intrusive or punitive: Deputy Governor Jain

Jain, whose 5-year tenure ends today, talks about the importance of technology, customer service and financial inclusion, besides the RBI's focus on governance at banks and every financial institution

Eyeing expansion, Reliance gets RBI's special approval to raise funds

The money is likely to be used to support the working capital needs of the company besides expansion in energy and telecom businesses

Compromise with wilful defaulters to help banks recover dues much faster

RBI says compromise settlement is not a new regulation, has been around for over 15 years; But unlike normal defaulters, wilful and fraud accounts barred from availing bank finance for 5 years

Surplus liquidity falls to lowest in 2 months due to advance tax outflows

Due to the fall in surplus liquidity, the RBI conducted variable rate repo (VRR) auction after a month on Monday

Rakesh Bhartia withdraws nomination as Fino PB part time chairman

To continue as board member, RBI yet to approve for chairman

Even at 4.25% inflation rate, Das sees disinflation process as protracted

Waning of base effect and uncertainty over monsoon may come in the way of disinflation, going forward

Reports of missing Rs 500 notes based on erroneous information, says RBI

"The RBI emphasizes that these reports are not correct," the regulator said in a press release

RBI maintains a pause on rates in step with global markets - it helps

The markets have been on a high for the past few sessions, particularly the Nifty, which consistently touched and even crossed the 18,000 mark earlier this week

Top headlines: RBI on Rs 500 notes report, India to have 40% of workforce

Business Standard brings you the top headlines at this hour

Reports of missing Rs 500 notes based on erroneous information, says RBI

Following these claims, the central bank has urged the public to rely on the information published by itself in cases pertaining to such matters

Wilful defaulters may get loan after five years of compromise settlement

Debt recast to be allowed only if promoter changes