Page 145 - Reserve Bank Of India

RBI rate hike may halt rally in BFSI sector, pressure on bank NIMs seen

Broader markets, especially automobile stocks, may also react negatively going ahead

No pause in sight: A 25-basis-point rate increase in Feb can't be ruled out

The key takeaway from the governor's 3,000-word statement is 'the battle against inflation is not over'

More to come

Containing inflation remains a challenge

Little scope for RBI to take its foot off the gas

The RBI need not match the Fed one-to-one but there seems little scope to take its foot off the gas

RBI restores pre-pandemic trading hours for some money market segments

Changes effective Dec 12; RBI had shortened market hours for all segments in April 2020

Banks should not ask for verification at branch level if e-KYC done: RBI

The Reserve Bank on Wednesday said banks should not ask for verifications/updates at the branch level in case a customer has done e-KYC or those who have completed the KYC (know-your-customer) process on C-KYC portal. Bank customers who've completed their KYC verifications online can do the annual updates as well as changes if any in their personal details online. A bank should not be demanding from a customer to walk into the branch for verification/updates. There is no such rule from the Reserve Bank on this, governor Shaktikanta Das told reporters on Wednesday. The governor also said, similarly for those customers who have uploaded their KYC details on the central-KYC (C-KYC) portal should not be asked for verification by any bank. In such case, the customer can just mail or message from the registered email ID or mobile to the bank to access the KYC details from the C-KYC portal. Blaming lack of awareness at the front-end of banks, deputy governor Rabi Sankar said the central ba

Digital currency like cash, no need for lack of privacy fears: RBI Guv

RBI has decided to enhance the mandates of United Payment Interface, expand the scope of BBPS and ensure privacy of people in the case of digital currency transactions, said Governor Shaktikanta Das

Agriculture sector remains resilient; Rabi sowing off to strong start: RBI

Reserve Bank Governor Shaktikanta Das on Wednesday said the agriculture sector remains resilient, and the rabi sowing has got off to a strong start. However, India is expecting some moderation in kharif production due to uneven rainfall. India's total kharif crop production is estimated to moderate to 149.92 metric million tonnes (MMT) from 156.04 MMT in the previous kharif crop year, as per the first advance estimate. On the supply side, Das said, "The agricultural sector remains resilient. Rabi sowing got off to a strong start. The area sown so far is 6.8 per cent higher than the normal sown area (as on December 2, 2022)". Area sown to wheat has increased by 5.36 per cent year-on-year to 211.62 lakh hectares in the first two months of the ongoing rabi (winter) season, with higher coverage being reported in Rajasthan, Bihar and Uttar Pradesh, according to the agricultural ministry data released on Friday. The sowing of wheat, the main rabi crop, begins in October and harvesting i

RBI MPC: Here is what experts have to say about the policy announcement

Despite some signs of moderation, RBI Governor Shaktikanta Das said the main risk was that inflation would remain sticky and elevated

RBI MPC: How central bank's stance on GDP, inflation changed in 2022

The RBI MPC cut down the Gross Domestic Product (GDP) growth projection for FY23 from 7 per cent in the September announcement to 6.8 per cent

Other countries should trust credibility of Indian regulations: RBI Guv Das

The India of today is different from what it was earlier and regulators of other countries should trust the credibility of Indian regulations, Reserve Bank of India Governor Shaktikanta Das said

SC directs Centre, RBI to produce records relating to 2016 demonetisation

The Supreme Court on Wednesday directed the Centre and the Reserve Bank of India (RBI) to put on record relevant records relating to the government's 2016 decision to demonetise currency notes of Rs 1000 and Rs 500 denomination for its perusal. Reserving its verdict on a batch of pleas challenging the Centre's 2016 decision, a five-judge constitution bench headed by Justice S A Nazeer heard the submissions from Attorney General R Venkataramani, RBI's counsel, and the petitioners' lawyers, including senior advocates P Chidambaram and Shyam Divan. The top court directed the parties to file written submissions by December 10. "Heard. Judgement reserved. Learned counsels of the Union of India and Reserve Bank of India are directed to produce the relevant records," the bench, also comprising Justices B R Gavai, A S Bopanna, V Ramasubramanian, and B V Nagarathna, said. The AG submitted before the bench that he will submit relevant records in a sealed cover. The top court was hearing a b

RBI MPC meet LIVE: No difference between paper currency and CBDC, says Das

Catch all the latest updates on the RBI's bi-monthly monetary policy announcement today

MPC ups inflation projection for Q3 and Q4, keeps it at 6.7% for full FY23

Panel cuts economic growth forecast by 20 bps to 6.8% for the year; Q3 lowered by 20 bps and Q4 by 40 bps

RBI hikes repo rate by 35 bps to 6.25%, cuts FY23 GDP forecast to 6.8%

RBI governor Shaktikanta Das emphasises concerns on core inflation, says overall price momentum high

RBI Monetary Policy: Expect 35 bps repo rate hike tomorrow, say experts

RBI Policy: After an initial rate hike of 40 basis points on May 4, the RBI has hiked the repo rate by 50 basis points thrice, on June 8, August 5 and September 30

Top Headlines: Vi's fundraising on hold, trade settlement in rupee & more

Business Standard brings you the top headlines at this hour

Rupee at over 1-month low on renewed Federal Reserve rate hike fears

Indian currency underperforms EM peers; analysts cite shrinking forward premia, widening CAD

Trade settlement in rupee: Govt, RBI devise country-specific plan

To start with, a small number of banks will be allowed to manage cross-border transactions in domestic currency with a particular country

Transactions in CBDC pilots gather pace, all minor glitches fixed swiftly

Wholesale segment averages Rs 325 crore per day in November