Page 15 - Shaktikanta Das

India's GDP grew 7.6% in Jul-Sep quarter, higher than RBI MPC projection

At the Business Standard BFSI Summit last month, RBI Governor Shaktikanta Das said that the Q2 GDP figure is likely to surprise everyone on the upside

Rein in enthusiasm to lend: FM Sitharaman to NBFCs, small finance banks

RBI Governor Shaktikanta Das on Wednesday said the central bank's tougher stance on unsecured loans is a "preemptive" move aimed at ensuring financial stability

NBFCs should remain cautious on lending as suggested by RBI, says FM

Finance Minister Nirmala Sitharaman on Thursday said NBFCs and small finance banks need to remain cautious while lending as suggested by the Reserve Bank. Speaking at 'DATE with Tech' event here, Sitharaman cautioned that NBFCs and small finance banks should respect the red line and should not go too far in their enthusiasm. "Enthusiasm is good but sometimes it becomes a bit too far for people to digest. So as a measure of caution the RBI has also alerted small finance banks, NBFCs to be careful that they don't go too far too soon and face any downside risks later," she said. Reserve Bank Governor Shaktikanta Das on Wednesday had said the central bank's tougher stance on unsecured loans earlier this month is a "preemptive" move aimed at ensuring financial stability. Following a massive rise in unsecured lending and delinquencies, the Reserve Bank on November 16 tightened the norms for unsecured consumer credit, asking banks and NBFCs to assign a higher risk weight. As a result, it

Songs, cricket metaphors: RBI governor's way of conveying complex issues

Das has often cited the example of Arjuna's eye to communicate that the central bank is completely focused on bringing down inflation

RBI Guv asks NBFC-MFIs to be wise in using flexibility on interest rates

Stating that some Non Banking Finance Company-Microfinance Institutions (NBFC-MFIs) are making wider net interest margins, RBI Governor Shaktikanta Das on Wednesday asked entities to be "judicious" in using the flexibility on the interest rates they charge from borrowers. Speaking at the annual Fibac event, Das said the microlending segment serves marginalised clientele and has emerged as an important financial conduit to foster financial inclusion. "Though the interest rates are deregulated, certain NBFC-MFIs appear to be enjoying relatively higher net interest margins. It is indeed for microfinance lenders themselves to ensure that the flexibility provided to them in setting interest rates is used judiciously," he said. It can be noted that following the crisis in the microfinance segment in Andhra Pradesh that had also led to the creation of the NBFC-MFI segment, the Reserve Bank of India (RBI) had capped the maximum interest which lenders can charge at 24 per cent. The rate regi

Rupee volatility low, exhibits orderly movements relative to peers: RBI Guv

Reserve Bank of India Governor Shaktikanta Das on Wednesday said the rupee has witnessed "low volatility" and orderly movements as compared to its peers. Speaking at the annual FIBAC event, Das said household inflation expectations are becoming more anchored, but added that headline inflation is vulnerable to recurring and overlapping food price shocks. It can be noted that the rupee closed at an all-time low of 83.35 against the dollar on Monday, but gained some lost ground in Tuesday's trade. On the exchange rate front, the Indian rupee (INR) has exhibited low volatility and orderly movements relative to peers despite elevated US treasury yields and a strong US dollar, Das said. He said this is courtesy the strength of the underlying macro-fundamentals of our economy and the reassuring forex buffers. In the last three or four days, the US DXY (dollar index) has slightly softened and treasury yields in the US have also softened. Crediting RBI's rate hikes, liquidity tightening m

Banks, NBFCs need to be watchful of stress building up: Shaktikanta Das

'Banks and NBFCs must continue to do stress tests of their books,' RBI Governor Shaktikanata Das said on Wednesday

Unsecured risk

Retail loan growth needed to be checked

RBI remains watchful, monetary policy actively disinflationary: Das

Reserve Bank of India remains watchful and the monetary policy is actively disinflationary and supporting growth, Governor Shaktikanta Das said on Thursday. The government has mandated the RBI to ensure that inflation based on the Consumer Price Index (CPI) remains at 4 per cent with a margin of 2 per cent on either side. At a symposium in Tokyo, Das also talked about the central bank's approach to the fintech ecosystem, saying it is customer-centric. There is focus on good governance, ensuring effective oversight, ethical conduct and risk management, and encouraging self-regulation by the fintechs themselves through a Self-Regulatory Organisation (SRO), he said. Das said the Monetary Policy Committee (MPC) in its October meeting projected CPI inflation at 5.4 per cent for 2023-24, a moderation from 6.7 per cent in 2022-23. The CPI inflation fell to a three-month low of 5 per cent in September. The data for October is scheduled to be released on November 13. Headline inflation, .

India vulnerable to recurring, overlapping food price shocks: RBI Guv Das

India's retail inflation eased to a three-month low of 5.02 per cent in September on the back of softer vegetable prices, but remained above the RBI's 4 per cent target

HDFC Bank on hiring spree to fuel biz growth and tackle attrition head-on

Bank has hired over 56K since March 2022; focus on reining in attrition, women re-hiring

Rupee, government bond gain post favorable US non-farm payroll data

The central bank had not given any timeline for OMO sales and said it will depend on the ongoing liquidity situation

Let bankers play like Rahul Dravid

RBI Governor Shaktikanta Das's message to the financial sector

Best of BS Opinion: Vote of confidence, engagement discontent & more

Here is the best of Business Standard's opinion pieces for today

RBI may hold fire even if Fed hikes rates twice: CEA V Anantha Nageswaran

RBI Governor Shaktikanta Das recently said at the Business Standard's BFSI Insight Summit domestic factors determined India's monetary policy

Vote of confidence

RBI has done well, but new external challenges can emerge

Attrition high in private banks, they need to build core team: RBI's Das

Indian banking system and NBFC sectors at the moment are healthy and robust, said Das

BS BFSI Summit: Q2 GDP numbers likely to surprise on upside, says RBI's Das

The RBI has projected a GDP growth rate of 6.5 per cent for July-September while growth for 2023-24 too is seen at 6.5 per cent

India's Q2 GDP number will surprise on the upside: RBI governor Das

BS BFSI Insight Summit 2023: Shaktikanta Das said India is better placed as compared to other countries to deal with risky geopolitical situations

BS BFSI Summit: From Shaktikanta Das to K V Kamath, here're key speakers

Shaktikanta Das, Debasish Panda, K Rajaraman, and K V Kamath: Meet the key speakers of BS BFSI Summit 2023