Page 13 - Shaktikanta Das

Mutual funds knock RBI door for hike in foreign investment limits

According to MF officials, opening the MF route for international investment should not make much difference to the rupee's stability, given that other routes for foreign remittance remain open

RBI likely to hold rates for a sixth straight meet; statement in focus

Market participants are also hoping for some relief from the RBI on the liquidity front with the system deficit having hit a record high in January

RBI Monetary Policy Committee meet: Check date, time and what to expect

RBI MPC: In a poll conducted by Business Standard, all 10 respondents said that the MPC might maintain the status quo for a sixth consecutive time

RBI may continue status-quo on short-term lending rate, say experts

Coming close on the heels of the interim budget which maintained the status quo on policy front, the Reserve Bank is likely to continue with the pause on the short-term lending rate in its upcoming bi-monthly monetary policy this week as retail inflation is still near the higher end of its comfort zone, say experts. It is almost a year since the Reserve Bank has kept the short-term lending rate or repo rate stable at 6.5 per cent. The benchmark interest rate was last raised in February 2023 to 6.5 per cent from 6.25 per cent to contain inflation driven mainly by global developments. The retail inflation in the current financial year has declined after touching a peak of 7.44 per cent in July, 2023, it is still high and was 5.69 per cent in December 2023, though within the Reserve Bank's comfort zone of 4-6 per cent. RBI Governor-headed Monetary Policy Committee (MPC) will start its three-day deliberations on February 6. Governor Shaktikanta Das will announce the decision of the ...

Unanimity among current RBI monetary policy committee's internal members

The first MPC formulated policies between October 2016 and August 2020. The second MPC, with three new external members, was established in October 2020

French Prez Macron, PM Modi likely to use UPI at Hawa Mahal in Jaipur

At Hawa Mahal, both leaders will shop at local shops, and transactions are likely to be done through UPI

RBI governor Shaktikanta Das cautions against exuberance in lending

Das said the central bank had not mandated any number on credit deposit ratio, and neither do they propose to

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Monetary policy has to remain actively disinflationary: Shaktikanta Das

Das said he expects January inflation to moderate and the trend has been moderating but unless inflation reaches 4 per cent on a durable basis

CPI inflation to average 4.5% in FY25, growth to top 7%: RBI Governor

Observing that headline inflation substantially eased from the elevated level seen in the summer of 2022, Das said price momentum was easing across core goods and services

Economy likely to grow 7% in 2024-25, inflation to ease further: RBI Guv

Indian economy should record a growth rate of 7 per cent in the next fiscal and inflation is likely to ease further, RBI Governor Shaktikanta Das said on Wednesday. He also credited the government for structural reforms undertaken in recent years, saying they have boosted the medium and long-term growth prospects of the Indian economy. He said that amidst a challenging global macroeconomic environment, India presents a picture of growth and stability. Speaking at a CII session on 'High growth, low risk: The India story' here during the World Economic Forum Annual Meeting, Das said recent information on the global economic front has been reassuring with inflation falling, though growth remains low. "Chances of soft landing have improved and markets have reacted positively. However, geopolitical risks and climate risks remain matters of concern," he said. The RBI Governor said the real GDP growth in India is expected at 7.2 per cent this year.

Inflation moderating, steadily moving towards 4% target: RBI governor Das

After increasing the key policy rates by 250 basis points to 6.5 per cent between May 2022 and February 2023, the central bank paused in the next five policy review meetings

India's growth prospects firm, banking sector recovered well: Das at Davos

India's growth prospects are very good, and the country's banking sector has seen a remarkable recovery, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Tuesday. Speaking at a session here, Das said there is a lot of international confidence in India and the macroeconomic and financial sector stability that the country offers. "...I think we need to really look back at the business opportunity in India. Because this is the right time to build into the Indian ecosystem," he said and emphasised that the country's growth prospects are very good on account of the structural reforms that have taken place in recent years. Despite various shocks and crises, he said the Indian banking sector has seen a remarkable recovery. "The Indian banking sector is perhaps at one of its best in recent years... the financial sector is very stable... the external sector is also stable notwithstanding that the global growth is slowing down...India's services sector is growing," he said. Whil

Indian rupee can become a winner only if RBI loosens its grip on currency

"The Reserve Bank of India will let the rupee appreciate only gradually," said Dhiraj Nim, economist and forex strategist at Australia & New Zealand Banking Group

World Economic Forum: Davos-bound squad aims to turn spotlight on India

Top honchos from India Inc, finance, govt heading to the World Economic Forum

Delays in IBC erode value of assets, says RBI governor Shaktikanta Das

Das says cybersecurity threat remains a major challenge

Learnings from IBC suggest need for 'some course correction': RBI chief Das

Lenders have recovered 32 per cent of their total claims under the Insolvency and Bankruptcy Code (IBC) but the learnings suggest the need for "some course correction" with respect to the law, RBI Governor Shaktikanta Das said on Thursday. He said the major criticisms of the IBC are on two fronts -- the time taken for resolution and the extent of haircuts as against the admitted claims. The IBC, which came into force in 2016, is a key legislation aimed at resolving stressed in a time-bound and market-linked manner. Addressing a conference on the IBC organised by the Centre for Advanced Financial Research and Learning (Cafral) here, Das said "if we have to take stock of the IBC implementation journey and its impact so far, there are significant positive indications as well as learnings, suggesting a need for some course correction". In terms of realisation of value, the creditors have realised Rs 3.16 lakh crore out of the admitted claims of Rs 9.92 lakh crore as of September 2023,

UPI best payments system, RBI not averse to having rival of NPCI: Das

Reserve Bank Governor Shaktikanta Das on Thursday dismissed criticism from certain quarters that after the huge success of UPI, its creator NPCI has become a monopoly and asserted that there is more room for the payment app to grow and it can become the world leader in payments. Unified Payments Interface or UPI, developed by National Payments Corporation of India (NPCI), has been a runaway success and is already operational in some countries, including Singapore and the UAE. Its monthly volume in the country crossed the 100-billion mark many months ago. RBI is in discussion with more central banks in other countries. Dismissing the criticism that NPCI, set up by RBI and other financial institutions, has become a monopoly, he said, it is the best creation. Das was speaking at a BFSI seminar organized by business daily Mint. "UPI has already become a digital public infrastructure. In fact it has to grow even further. I would say this is the best payments system in the world as of n

Cybersecurity threat to banking system a major challenge: RBI Governor

Regulator has dedicated team to check IT systems of banks and NBFCs, says Shaktikanta Das

From Chennai to Davos, it's a flying start for India Inc in New Year

Vibrant Gujarat, which is celebrating 20 years, is hoping to forge a record number of memorandum of understanding this year, surpassing its previous best of 28,360 signed in 2019