Foreign currency assets increased due to inflows and revaluation as the dollar weakened over the week, said market participants
Growth in Asia's third-largest economy, which is under threat from slowing urban consumption and tepid private investment, could worsen because of the escalating US-China trade war
In the previous session, Indian markets ended in the red after the RBI MPC cut the repo rate by 25 basis points to 6 per cent, and shifted its policy stance from 'accommodative' to 'neutral'.
NBFCs pulled up for lax underwriting, steep charges
The RBI announces bank holidays through its official channels, such as its website and bank notifications. The bank holidays are classified under three categories
RBI is working to ensure frequency of such occurrence is less, he said
Rupee free to move if global forces weigh, says RBI governor
Loans linked to policy repo rate to fall
Fund managers foresee two more rate cuts of 25 bps each in the coming policies
The RBI MPC, on Wednesday, unanimously decided to cut the repo rate by 25 basis points, bringing it down to 6 per cent, from 6.25 per cent earlier.
This move is expected to enhance credit flow to underserved segments, such as micro, small, and medium enterprises (MSMEs), while also ensuring stronger customer protection, experts said
Asserting that the Indian banking system is safe, secure and robust, Reserve Bank Governor Sanjay Malhotra on Wednesday said crises in some banks and a housing finance company are 'episodes' and not 'total failure'. He was responding to a question about whether there were larger systemic concerns around the accounting lapses at IndusInd Bank and the failure of the Mumbai-based New India Cooperative Bank and Aviom India Housing Finance Pvt Ltd. Without getting into specifics of any individual cases, Malhotra said, "St system level...we are very very safe, secure and robust and the system is resilient." In this large system with number of players with almost 10,000 NBFCs and around 1,500 cooperative banks and cases of failure of cooperative banks in the last 7-8 years are very small compared to the overall size, he said. "So these things will happen. Our effort is to minimise the impact and minimise them...I would not call them total failure, these are episodes," he said. Malhotra .
Malhotra also said that at the system level, co-operative banks, NBFCs, and banks are all safe, secure, and robust
In December 2024, RBI launched MuleHunter.ai, developed by the Reserve Bank Innovation Hub, to help banks reduce digital fraud
REs will issue an NFB facility only on behalf of a customer having a business relationship with them
RBI MPC Meeting 2025 highlights: Catch all the latest news updates on the RBI Monetary Policy Committee meeting here
RBI said the policy will strengthen conduct-related aspects, with lending norms integrated into lenders' credit/risk management policies
RBI MPC reduced the repo rate by 25 basis points to 6 per cent, marking the second cut this year
The Reserve Bank's move to lower its benchmark repo rate for the second time in a row will cushion India's economy against external shocks in the face of reciprocal tariffs imposed by the US that has triggered a global turmoil, industry bodies said on Wednesday. The RBI on Wednesday slashed the key interest rate by 25 basis points to 6 per cent providing relief to home, auto and corporate loan borrowers. CII Director General Chandrajit Banerjee termed the decision to continue with the rate easing cycle as timely and prudent. "The rate cut coupled with the shift in monetary policy stance from 'neutral' to 'accommodative', too, is a big positive," Banerjee said. The RBI's rate cut, and stance change reflect concerns about the impact of slower global growth on domestic economy and a relatively benign outlook for domestic inflation, he added. CII is of the view that RBI's accommodative monetary policy combined with the government's growth-centric fiscal policy will help boost domestic
The likelihood of the RBI going in for another 50bps points rate cut for the rest of the calendar year is very high, says Dr Joseph Thomas, head of research, Emkay Wealth Management