Page 17 - Shaktikanta Das

87% of Rs 2,000 notes came as bank deposits after withdrawal:RBI Guv Das

Reserve Bank Governor Shaktikanta Das on Friday said 87 per cent of the Rs 2,000 denomination notes being withdrawn have returned as deposits into banks while the rest has been exchanged across counters. Addressing a press conference after the announcement of the bi-monthly monetary policy review, Das said Rs 12,000 crore of the Rs 3.56 lakh crore worth of Rs 2,000 notes in circulation as on May 19, 2023 are yet to come back. Last on Saturday, the RBI had said that Rs 3.42 lakh crore of notes had been received back as of September 29, and Rs 14,000 crore was yet to come back. The central bank had also extended the deadline for return of the notes by a week. Das said the RBI wants to "emphatically" focus on the 4 per cent headline inflation target, and till the price rise number does not get down, the monetary policy will be "actively disinflationary". As the banker to the government, the RBI does not have any worry on the central government finances, Das said. The "outlier" loan .

RBI MPC LIVE: Original aim of Rs 2000 note withdrawal largely met, says Das

RBI policy: In the last bi-monthly announcement in August, the MPC decided to keep the benchmark repo rate unchanged at 6.5% for the third time in a row. Check all LIVE updates for today's MPC here

RBI MPC keeps repo rate unchanged, signals tight liquidity measures

Rate-setting panel considers high inflation as risk to macroeconomic stability and sustainable growth, says Shaktikanta Das

RBI MPC meeting: Key takeaways from Guv Shaktikanta Das' announcements

RBI MPC has decided to continue with the pause on repo rate at 6.5 per cent for the fourth time in a row

Policy rate unchanged at 6.5%, FY24 inflation forecast retained at 5.4%

RBI policy: Shaktikanta Das said that real GDP forecast for 2023-24 has been retained at 6.5% by MPC

RBI MPC: When and where to watch policy announcement by Shaktikanta Das

Experts have said that RBI is likely to keep the repo rate unchanged at 6.5 per cent in view of elevated inflation and other global factors

RBI's rate setting body starts deliberations amid expectation of status quo

RBI Governor Shaktikanta Das-headed Monetary Policy Committee (MPC) started its three-day meeting on Wednesday amid expectations of a status quo on the rate front in its bi-monthly monetary policy review. The policy review will be announced on Friday morning. In case of a status quo, interest rates for retail, as well as corporate borrowers, would remain stable. Experts believe that the Reserve Bank will retain the benchmark rate at 6.5 per cent in view of the elevated inflation and global factors. The Reserve Bank started increasing the policy rate in May 2022 in tranches, in the wake of the Russia-Ukraine war and took it to 6.5 per cent in February this year. Since then, it has kept the rate unchanged in the last three successive bi-monthly monetary policy reviews. "The credit policy this time will most likely continue with the existing rate structure as well as policy stance. Hence, the repo rate will be retained at 6.5 per cent with the stance of withdrawal of accommodation," .

Retaining retail inflation at 4% an unaccomplished dream since 2019-20

The target was achieved in the first two and a half years of implementing inflation targeting in Oct 2016, but the inflation rate remained above the goal

Need to avoid dominance of 1-2 directors on boards: RBI Governor Das

Das asserted that directors in UCBs, who are elected to their positions, must possess expertise in diverse banking functions, including risk management and information technology

Dhanlaxmi Bank saga puts spotlight on independent directors on bank boards

Is Kalyanasundaram a whistleblower? Dhanlaxmi insiders are not too perturbed by his exit and say it is business as usual at the bank. That said, Dhanlaxmi has been in a prolonged patch of bad news

RBI to discontinue incremental cash reserve ratio in a phased manner

The amounts impounded under the I-CRR will be released in stages so that system liquidity is not subjected to sudden shocks and money markets function in an orderly fashion

Thomas Cook, NPCI launch RuPay prepaid forex card for travellers to UAE

The Reserve Bank of India had in June allowed the banks to issue Rupay forex cards

Top headlines: Delhi gears up for G20 Summit, Biden set to travel India

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Fintech companies need to set up self-regulatory body: RBI governor

He cautioned the fintechs that they should not get carried away with valuations and revenue but need to focus on customer satisfaction

Inflation expected to moderate from September: RBI governor Shaktikanta Das

He said the monetary policy framework in India had evolved in line with developments in theory and country practices, the changing nature of the economy, and developments in financial markets

RBI committed to bring down inflation to 4%: Governor Shaktikanta Das

The central bank has been mandated by the government to keep inflation at 4 per cent with a margin of 2 per cent on either side

CBDC can fix cross-border payment problems: RBI Governor Shaktikanta Das

RBI governor flags issues of high cost, low speed, limited access

Inflation to start moderating from Sept onwards, says RBI Guv Das

Reserve Bank Governor Shaktikanta Das on Friday said the central bank expects inflation to moderate from September onwards. The RBI Governor said that while citing a fall in the prices of vegetables like tomatoes, restrictions imposed on the export of non-basmati rice and cut in the prices of domestic LPG cylinders. Das was addressing a programme at Devi Ahilya University here. "We expect overall inflation to start moderating from September onwards. August inflation will be again very high, but we expect from September onwards inflation to go down, he said. Das said that the prices of tomatoes have already fallen and retail prices of other vegetables are also expected to come down from this month. The RBI Governor said the government has taken several steps to ensure the supply of tomatoes and other items of common need to the people at affordable prices. "The restrictions have been imposed on the export of non-basmati rice. The prices of domestic LPG cylinders have been cut ...

RBI Guv asks urban co-op banks for rigorous follow-up to recover bad loans

Reserve Bank Governor Shaktikanta Das on Wednesday asked urban cooperative banks to go for rigorous follow-up of large NPA borrowers for effective recovery, and not to camouflage their actual financial position by innovative accounting practices. In a statement, the RBI said the Governor held a conference of directors on the boards of select large urban cooperative banks (UCBs) in Mumbai Zone. The Reserve Bank has started engaging with the directors of its regulated entities functioning in different segments of the financial system. Two separate conferences were held with directors on boards of public sector banks and private sector banks in May 2023. The governor reinforced the need for board's involvement in upholding rigorous credit risk management including robust underwriting standards, effective post sanction monitoring, timely recognition and mitigation of incipient stress, rigorous follow-up of large NPA borrowers for effective recovery, and maintaining adequate ...

FSDC-SC commits to remain vigilant against any build-up in vulnerabilities

The vigilance extends particularly to potential repercussions stemming from global influences in a continuously evolving and unpredictable global landscape