Page 10 - Shaktikanta Das

Reserve Bank board approves transfer of Rs 2.11 trillion surplus to govt

The expert committee had suggested maintaining the risk provisioning within a range of 5.5 per cent to 6.5 per cent of the RBI's balance sheet under the Contingent Risk Buffer

RBI Guv Das casts vote in Mumbai, urges electors to exercise voting right

Reserve Bank Governor Shaktikanta Das cast his vote here early Monday morning and urged all electors to exercise their franchise. Polling was underway since 7 am in six Lok Sabha constituencies in Mumbai and seven other seats in Maharashtra. I urge all the voters to votethis is a right in our parliamentary democracy and everyone should exercise it, Das told PTI after casting his vote at a polling centre near his official residence his south Mumbai. Voters should exercise their franchise in large numbers even during the remaining phases of the general elections, he said. Tata Sons Chairman N Chandrasekaran was also among the early voters from the world of business. He exercised his franchise along with his family members at a booth in south Mumbai. Later, Chandrasekaran posed for pictures and showed his inked finger. Businessman Anil Ambani also voted early in the morning at a booth in south Mumbai where his residence is located.

'Permanent deletion of transactions can anonymise e-rupee like cash'

The e-Rupee is a central bank digital currency (CBDC) issued by the Reserve Bank of India

CBDC pilot programmes for CPs, CDs likely: RBI governor Shaktikanta Das

Says permanent deletion of transactions can make e-rupee anonymous and at par with cash

RBI to make digital currency available offline, says Governor Das

India is one of the few economies to experiment with a digital currency backed by a central bank, even as developed nations tread cautiously

UPI transactions dip marginally in April to Rs 19.64 trn; grow Y-o-Y

Fasting, IMPS and Apes transactions decline too in the month

Enlightened leadership needed to resolve tax distribution: Subbarao

Former RBI Governor Duvvuri Subbarao has opined that only enlightened leadership at Centre and state levels can resolve the complex north-south divide in deciding on the distribution of the tax pool among states, saying it is beyond the remit of the Finance Commission. Subbarao, who held various positions including the finance secretary of Andhra Pradesh and Union finance secretary, and wrote extensively on issues in fiscal federalism in his new book titled 'Just A Mercenary?: Notes from My Life and Career' further said that horizontal sharing of the divisible pool of taxes has always been a contentious issue but will be even more so in this round. "This (north-south divide in deciding on the distribution of the tax pool among states) is a complex political challenge beyond the remit of the Finance Commission. "Resolving it will demand enlightened leadership at central and state levels that can look beyond politics and build a consensus around an optimal way forward," he told PTI.

As India develops, high food inflation will get less severe: Ashima Goyal

The problem of high food inflation will be "less severe" in India going ahead, as modern supply chains with diversified sources can help quickly address sudden spikes in prices of specific food items, RBI Monetary Policy Committee (MPC) member Ashima Goyal said on Thursday. Stressing that the share of food in the household budget is high in India, Goyal said policy needs to focus on increasing agricultural productivity, since stable agricultural prices are important for non-inflationary growth. "As India develops, this problem (high food inflation) will get less severe, for a number of reasons. Modern supply chains with diversified sources respond quickly to large spikes in specific items," she told PTI. Goyal further pointed out that one does not hear of tomato or onion prices spiking in advanced economies. "We naturally have diverse geographic regions, better integrated markets sourcing from different regions can help mitigate climate change induced food price spikes," she ...

Consumer price inflation likely eased to 5-month low of 4.91% in March

RBI Governor Shaktikanta Das said last week that food price volatility remains a concern

India's consumer price inflation likely eased to 4.91% in Mar: Reuters poll

Inflation was expected to return to the RBI's target next quarter but be above it in subsequent quarters, according to a separate Reuters survey on the longer-term outlook

All the RBI's men

As the Reserve Bank celebrates its 90th birthday, the concluding part of a two-column series offers a peek into the lives and works of its governors over the past three decades

Monetary policy: 'Real rates do matter, inflation must align with target'

Reserve Bank of India Governor Shaktikanta Das and Deputy Governor Michael Patra responded to a host of queries in the post-policy interaction with the media. Edited excerpts:

RBI to launch a mobile app for investing in government securities

The introduction of the app will enhance transparency and streamline the process for retail investors, said market participants

CBDC transaction volumes decline after hitting 1,000,000: RBI dy guv

The Central Bank Digital Currency (CBDC) transaction volumes have gone down after crossing 10 lakh in late-December 2023, Reserve Bank of India Governor T Rabi Sankar said on Friday. The overall number of transactions has touched 2.2 crore since the launch of the CBDC pilot on December 1, 2022, Sankar said, adding that the number of participants in the pilot stands at 50 lakh. "Volumes have not been the same, they have come down," Sankar said, adding that the target of 10 lakh a day was met earlier on the back of measures such as interoperability with a very popular UPI platform. As per a news report, banks disbursed employee benefits using the digital rupee in December, which helped the Reserve Bank of India (RBI) meet its target of 10 lakh daily transactions. Sankar said there are 46 lakh users and 4 lakh merchants transacting in CBDC right now, and added that as the acceptance of CBDC grows, there has been a growth in the P2M, or peer-to-merchant, transactions. "Volumes are ...

RBI to release final framework for fintech SROs by April-end: Governor Das

Das said the banking regulator was working towards operationalising one SRO for fintechs by the Global Fintech Festival (GFF) scheduled in September

India building up gold reserves as part of forex deployment: RBI Guv Das

Reserve Bank Governor Shaktikanta Das on Friday said India has been building up gold reserves as part of its forex deployment. "We are building up gold reserves that is a part of our reserve deployment," Das told reporters at the customary post-policy review press conference here. He did not give any specifics on the quantum of gold buys, but pointed to the official data which shows an increase in the value of gold reserves. As per official data, the value of gold in the forex reserves stood at USD 51.487 billion as on March 22, which is USD 6.287 billion higher than the value as at end-March 2023. As per a recent news report, RBI bought 8.7 tonne of gold in January alone which is the highest in two years. The central bank's gold holdings had touched 812.3 tonne at the end of January from 803.58 tonne in the preceding month, as per the World Gold Council. The price of gold has also seen a rally over the last few months. Earlier in the day, Das announced that the overall forex ..

RBI monetary policy highlights: Last mile of disinflation is always challenging, sticky, says Governor Das

RBI MPC highlights: Catch all the highlights related to RBI's Monetary Policy Committee announcements here

RBI MPC: Here are the major announcements made by Governor Shaktikanta Das

The Reserve Bank of India put the estimated real GDP growth for FY25 at 7 per cent

Inflation targeting framework is the focus: RBI governor Shaktikanta Das

The RBI projects CPI will be 4.5 per cent for the whole year, and growth will be 7%

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