Page 90 - Reserve Bank Of India

RBI lowers quarter-wise inflation forecast for FY25, holds key rate steady

Inflation 'elephant has left the room and it appears to be on its way to the forest,' says RBI governor Shaktikanta Das

RBI to permit investment, trading of Sovereign Green Bonds at Gujarat IFSC

The Reserve Bank on Friday announced that it will allow investment and trading of Sovereign Green Bonds (SGrBs) at the International Financial Services Centre (IFSC), Gandhinagar. Based on an announcement in the Union Budget for 2022-23, the government issued Sovereign Green Bonds (SGrBs) in January 2023. Subsequently, SGrBs were issued as part of the government borrowing calendar in 2023-24. At present, foreign portfolio investors (FPIs) registered with SEBI are permitted to invest in SGrBs under the different routes available for investment by FPIs in government securities. "With a view to facilitating wider non-resident participation in SGrBs, it has been decided to permit eligible foreign investors in the International Financial Services Centre (IFSC) to also invest in such bonds," RBI Governor Shaktikanta Das said, while announcing the first bi-monthly policy for FY'25. A scheme for investment and trading in SGrBs by eligible foreign investors in IFSC is being notified separat

RBI MPC FY25: Repo rate kept unchanged at 6.5% for seventh consecutive time

The RBI MPC has also decided to keep its stance of "withdrawal of accommodation" unchanged with a majority of 5-1

Rupee declines 6 paise to 83.45 against US dollar in early trade today

The rupee depreciated 6 paise to 83.45 against the US dollar in early trade on Friday, as market participants remained cautious ahead of the announcement of the Reserve Bank of India's rate-setting panel's decision. Forex traders said the local unit was also weighed down by a strong American currency and elevated crude oil prices. Moreover, a negative trend in domestic equities and sustained foreign fund outflows also dented investor sentiments. According to interbank foreign exchange, the rupee opened at 83.44 against the dollar and touched a low of 83.45 in the initial trade, registering a fall of 6 paise over its previous close. On Thursday, the rupee recovered 14 paise to close at 83.39 against the US dollar. Traders said market participants are awaiting the RBI MPC policy decision for further cues. The Reserve Bank's rate-setting panel on Wednesday started its three-day deliberations on the next set of monetary policy. The decision taken at the meeting of the Reserve Bank ...

RBI MPC: Indian bond yields expected to be steady ahead of announcement

Das stressed that RBI may consider rate cuts only once retail inflation eases towards the RBI's 4% target on a sustainable basis

First FY25 RBI MPC meeting: When, where to watch RBI governor's speech

RBI monetary policy: The MPC decision will be announced by Shaktikanta Das at 10 am on Friday, followed by a press conference at noon

RBI MPC: India's early rate-cut hopes dim as inflation threat lingers

The Reserve Bank of India will likely keep its benchmark repurchase rate at 6.5 per cent for a seventh straight policy meeting, according to all 38 economists surveyed by Bloomberg

Canara Bank launches loan products to meet hospitalisation expenses

State-owned Canara Bank on Wednesday launched a slew of new products, including a loan scheme to meet shortfall of hospital expenditure. A healthcare-focused loan product called Canara Heal is aimed at meeting the shortfall of hospitalisation expenditure while settling through TPA healthcare insurance claims of self and/or dependents, the bank said in a statement. The loan for meeting hospital expenses will be available at 11.55 per cent per annum on a floating basis and 12.30 per cent at fixed interest rate basis. The healthcare loan facility is available for customers whose treatment bill exceeds the insurance limit. The bank also introduced a customised savings account for women called Canara Angel with unique features such as cancer care policy, pre-approved personal loan Canara ReadyCash and online loan against term deposit product Canara MyMoney, it said. It is free of cost for women at the time of opening a savings account, it said, adding that existing women customers can

Bull market ageing, could lose steam from here, says Shankar Sharma

A 'Bull', he said, can at best do a short sprint and needs occasional breaks / pauses to catch its breath before charging again

'Goldilocks' economy to prompt RBI to keep rates on hold: Economists

As India heads into a general election this month, the economy is growing faster than expected amid signs prices are trending lower though food inflation remains a risk

'No change in RBI's stance on underlying exposure to forex derivatives'

The RBI had said in January that effective April 5, exchanges may offer forex derivative contracts involving the rupee to users "for the purpose of hedging contracted exposure"

First RBI MPC meet for FY25 starts today: Here is all you need to know

RBI Policy Meet: Experts believe the RBI will keep the repo rate unchanged at 6.5% and focus on bringing inflation towards the 4% target

Will RBI change focus to growth after PM Narendra Modi's speech?

While the central bank has not hiked the repo rate for more than a year now, but it has refused to drop the guard on inflation even if core inflation has moderated

Monetary policy preview: If it ain't broke, don't fix it

Core inflation is falling, and the rupee is stable. But the more pertinent question here is whether there is a need for monetary easing. Let's discuss the key determinants

After three years, RBI returns to multiple price auctions for govt bonds

Since July 2021, the RBI has been conducting auctions for bonds, under uniform pricing, except for ultra-long duration bonds maturing in 30 years and beyond

RBI reverts to multiple price auctions for govt securities after 3 years

Under the multiple price auctions, buyers are allotted bonds at the price they bid at, while uniform pricing means bonds are sold at the cutoff level

PM Modi calls for economic self-reliance, making rupee more acceptable

Prime Minister Narendra Modi on Monday said India needs to increase its economic self-reliance in the next 10 years to mitigate the impact of global crises, and make rupee more accessible and acceptable throughout the world. The Prime Minister also said the workload on bureaucrats will increase substantially soon after formation of the BJP-led NDA government at the Centre. Modi was addressing the opening ceremony of the 90th anniversary celebrations of the Reserve Bank of India (RBI) here. The RBI commenced its operations on April 1, 1935. He highlighted the role of the RBI in speedy and sustainable growth of the country. Noting the achievement of the RBI in infusing rule-based discipline and fiscally prudent policies in the banking sector, the Prime Minister asked for advance estimates of the needs of various sectors to take proactive steps while assuring the banks of government's support. Modi praised the role of the RBI's Monetary Policy Committee (MPC) for taking steps to cont

RBI has transitioned into being enabler for market economy: Shaktikanta Das

Shaktikanta Das stated that the RBI has evolved from a central bank focused on resource allocation during the planning era to an enabler for the market economy

India needs to become economically self-reliant in next 10 years: PM Modi

Prime Minister Narendra Modi on Monday said India needs to become economically self-reliant in the next 10 years so that the nation is not impacted much by global factors. Speaking on the 90th anniversary of the Reserve Bank of India (RBI), the Prime Minister also said a lot of work will be generated for everyone once the BJP-led NDA assumes office for the third term in June. "We have to increase India's economic self-reliance," he said. Modi said the banking sector has become profitable and credit growth has been increasing because of efforts taken by his government and the RBI in the last decade. He further said the gross NPAs of public sector banks, which was around 11.25 per cent in 2018, dropped to less than 3 per cent by September 2023. The "twin-balance sheet" problem is now a thing of the past, Modi said, adding that banks are now registering a credit growth of 15 per cent. The RBI has played a significant role in all these accomplishments, the Prime Minister added.

PM Modi in Mumbai: Check routes to avoid, timings and parking restrictions

Prime Minister Narendra Modi will be visiting Mumbai to join the celebrations of the RBI's 90th anniversary where he will be joined by Union Minister Nirmala Sitharaman, and other guests