Page 63 - Reserve Bank Of India

Shaktikanta Das: More hits than misses in six-year tenure as RBI governor

RBI became stronger, surer under Shaktikanta Das

Shaktikanta Das: The man behind GST, note ban, Covid monetary response

Shaktikanta Das, who will demit office as the Governor of the Reserve Bank of India on Tuesday, was the key man behind the planning and execution of the demonetisation drive and rollout of the landmark Goods and Services Tax (GST). At the RBI, he steered India's monetary policy response during the challenging period of the pandemic. Das, 67, a career bureaucrat, was put into the high job of the RBI Governor when Urjit Patel abruptly resigned in December 2018. His second three-year term comes to an end on December 10 and will be replaced by Sanjay Malhotra, Revenue Secretary in the Union Ministry of Finance. A 1980-batch Tamil Nadu cadre IAS officer, Das, who holds a master's degree in history from Delhi's St Stephen's College and a postgraduate degree in public administration from the University of Birmingham, was economic affairs secretary when the government suddenly scrapped high-value currency notes in November 2016. While the government justified the move as aiming at curbing .

Sanjay Malhotra to be next RBI governor, to succeed Shaktikanta Das

Sanjay Malhotra, a 1990 batch IAS officer from the Rajasthan cadre, will take over from Shaktikanta Das, whose term comes to an end on December 10

RBI Governor Shaktikanta Das to demit office on Tuesday after 6 years

Shaktikanta Das will demit the office on Tuesday after completing six years as the 25th Governor of the Reserve Bank of India. Revenue Secretary Sanjay Malhotra will replace him as the 26th Governor. He was appointed as the Governor on December 12, 2018, after the abrupt exit of Urjit Patel. Das has been twice ranked as the top central banker by the US-based Global Finance magazine. He chaired his last meeting of the rate-setting panel -- Monetary Policy Committee (MPC) -- last week. "In the last few years, we have traversed one of the most difficult periods in the history of the Indian economy, and perhaps, in the global economy also. It was a period of relentless turbulence and jolts. "As a country, we can derive satisfaction that the Indian economy has not just navigated this period of trials successfully but also emerged stronger. As we strive together towards making India a developed economy, I recall what I had said in my statement of February 8, 2023, wherein I had quoted

Repo rate status quo shows RBI's continued focus on inflation over growth

Monetary policy support to growth will be limited

News updates: MCOCA court remands eight accused in judicial custody in Baba Siddique murder

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RBI policy: CRR cut to improve lenders' margins, may lift credit growth

Deposit rates may start easing

RBI allows small finance banks to offer pre-sanctioned credit line on UPI

Step will 'further deepen financial inclusion and enhance formal credit', says central bank

RBI Innovation Hub develops MuleHunter.ai to combat mule account frauds

The RBI has taken several measures to prevent and mitigate digital frauds in the financial sector, including the issuance of cybersecurity and cyber fraud prevention guidelines, among others

RBI to launch podcasts for wider dissemination of info to general public

In recent years, the Reserve Bank has significantly expanded its public awareness initiatives, including active engagement on social media platforms

RBI to introduce new benchmark SORR based on secured money markets

Secured Overnight Rupee Rate (SORR), will be developed with the support of Financial Benchmarks India Limited (FBIL), which has been requested to take the proposal forward

RBI keeps repo rate unchanged, cuts banks' CRR and lowers GDP forecast

Monetary Policy Committee keeps repo rate unchanged at 6.50% for the eleventh consecutive review

Realty, infra firms say CRR cut positive for sector, will infuse liquidity

RBI's decision will enable banks to have more funds to lend, they say

What is MuleHunter.AI? RBI's latest tool against financial fraud explained

The Reserve Bank Innovation Hub has launched MuleHunter.AI, an advanced AI tool designed to identify and flag mule accounts, aiming to combat financial fraud and money laundering

RBI MPC Updates: Shaktikanta Das headlines inflation, says no room for knee-jerk reactions

RBI Monetary Policy Meeting Dec 2024 Updates: Catch all the updates here

No room for knee-jerk reaction on growth forecast, RBI action: Guv Das

RBI Monetary Policy Committee answers queries on growth forecasts, liquidity, cash demand, and CRR adjustment

RBI raises FY25 inflation estimate to 4.8%, CPI to remain elevated in Q3

The Reserve Bank on Friday raised the inflation projection for current fiscal year to 4.8 per cent from 4.5 per cent with Governor Shaktikanta Das saying lingering food price pressures are likely to keep headline inflation elevated in the December quarter. Consumer price index (CPI)-based inflation increased sharply in September and October 2024 led by an unanticipated increase in food prices. Core inflation, though at subdued levels, also registered a pick-up in October. Fuel group remained in deflation for the 14th consecutive month in October. "In the near term, despite some softening, lingering food price pressures are likely to keep headline inflation elevated in Q3," Das said while unveiling the December 2024 monetary policy. RBI said CPI inflation for 2024-25 is projected at 4.8 per cent, with Q3 at 5.7 per cent; and Q4 at 4.5 per cent. CPI or retail inflation for Q1:2025-26 is projected at 4.6 per cent, and Q2 at 4 per cent. In the October policy, the central bank had ...

RBI raises rates for non-residents to attract forex, halt rupee losses

The move comes as the monetary authority has been using its foreign-exchange reserves to slow the pace of the drop in the rupee

What did RBI Governor Shaktikanta Das say about his tenure extension?

RBI MPC: Governor Shaktikanta Das dodges term question with a smile, focuses on policy

RBI hikes rate caps on diaspora's currency deposits to attract flows

The Reserve Bank on Friday announced a raise in the interest rate caps on the diaspora's foreign currency deposits, in a move aimed at attracting more capital flows amid pressures on the rupee. Announcing the fifth bi-monthly monetary policy for the current financial year, RBI Governor Shaktikanta Das said it has been decided to increase the interest rate ceilings on Foreign Currency Non-Resident Bank deposits or FCNR (B) deposits as per tenors. It can be noted that the move comes at a time when rupee has been hitting lifetime lows against the dollar, and the Reserve Bank of India (RBI) seems to be deploying forex reserves to contain the volatilities, as seen in the sharp fall in the kitty over the last few weeks. Starting from Friday, banks have been now permitted to raise fresh FCNR (B) deposits of 1 year to less than 3 years maturity at rates not exceeding Overnight Alternative Reference Rate (ARR) plus 400 basis points, as against 250 basis points earlier. Similarly, deposits w