Page 21 - Shaktikanta Das

Stress tests show Indian banks can tackle 'severe' instability: RBI Guv Das

RBI governor Shaktikanta Das said that the gross NPAs of Indian banks stood at 4.41% as on December 31, 2022

RBI to meet board members of PSU banks to address ethics issues on May 22

Reserve Bank Governor Shaktikanta Das is scheduled to meet the board of directors of all public sector banks next month to discuss issues related to governance and ethics. The one-day meeting organised by the Department of Supervision of the Reserve Bank of India is to be held on May 22 in Delhi, sources said. Das will address the directors -- both whole time and independent -- on issues related to governance, ethics, and the role of the boards in assurance functionalities of the banks, besides highlighting the supervisory expectations, sources said. Besides the governor, the RBI communication sent to all public sector banks said, deputy governors, executive directors from its Department of Regulation as well as Supervision will be attending the meeting. The one-day event is designed to be an interactive one where directors, including the bank chairman, and nominee directors both from the central bank and the government, will be invited to interact with the entire RBI top brass. T

Cumulative impact of monetary policy actions still unfolding: RBI guv Das

RBI Governor Shaktikanta Das, in the rate-setting panel meeting earlier this month, opined that the cumulative impact of the monetary policy actions over the last one year is still unfolding and needs to be monitored closely, as per the MPC minutes released on Thursday. Das, along with the five other members of the Monetary Policy Committee, voted for a pause in rate hike earlier this month. The central bank, which effected six back-to-back hikes in the key short-term lending rate (repo) since May 2022 to check high inflation, decided to take a pause early this month. The cumulative rate hike since May 2022 is 250 basis points. "The cumulative impact of our monetary policy actions over the last one year is still unfolding and needs to be monitored closely," Das said during the last Monetary Policy Committee (MPC) meeting held during April 3-6. Inflation for 2023-24 is projected to soften, but the disinflation towards the target is likely to be slow and protracted. The projected ...

RBI calls meeting of all bank boards to discuss governance, supervisory

Ethics, supervisory expectations may also figure in May 29 meeting

Indian banks insulated from US, Swiss crises: RBI governor Shaktikanta Das

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Indian financial system insulated from US, Swiss developments: RBI Guv Das

India's financial system remains "completely" insulated from the recent developments in the US and Switzerland, RBI Governor Shaktikanta Das said, asserting that the country's banking system is resilient, stable and healthy. The governor of the Reserve Bank of India (RBI) told a press conference here on Thursday that at the global level, the recent developments in the banking system in the US and in Switzerland, have once again, brought into focus the importance of financial stability and banking sector stability. He was here for the annual spring meeting of the International Monetary Find and the World Bank along with Union Finance Minister Nirmala Sitharaman. Responding to a question on the collapse of the Silicon Valley Bank, he said the developments related to failures of banks in the US and also in Switzerland have naturally renewed a lot of interest. "So far as India is concerned, the Indian banking system, the Indian financial system, remains completely insulated from the ..

RBI to come out with centralised web portal to search unclaimed deposits

"We expect the portal to be ready in 3-4 months," said M Rajeshwar Rao, deputy governor, RBI

Reserve Bank of India goes for a hawkish pause

The RBI has paused because it wants to evaluate the cumulative impact of the past rate hikes

Necessary to assess cumulative impact of action taken so far: RBI

"It is now necessary to assess the cumulative impact of our action taken so far"

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Industry associations welcome RBI decision to pause interest rates

After six consecutive hikes aggregating 250 bps, RBI hits a pause

RBI may pause on rate hikes at next meet also: ICICI official Prasanna

The central bank's surprise decision to hold its key repo rate steady, at 6.5 per cent

This is a pause, not a pivot, says RBI guv on surprise hold in key rates

Reserve Bank Governor Shaktikanta Das on Thursday made it clear that the decision to hold rates should be seen as a pause, and not as a pivot. The rate-setting Monetary Policy Committee (MPC) will act on the rates as and when necessary, Das said. "If I have to characterise today's monetary policy in just one line...it's a pause, not a pivot," Das told reporters in the customary interaction with reporters after the announcement of the policy review. Earlier in the day, the six-member MPC voted unanimously to keep the repurchase or repo rate unchanged at 6.50 per cent, surprising analysts who were expecting the central bank to make a final 25 basis points hike before opting to pause. Das said RBI is keen to assess the cumulative impact of the rate actions done till now. There has been a cumulative hike of 250 basis points since May 2022. Deputy Governor Michael Patra said RBI has marginally upped its FY24 growth estimate to 6.5 per cent primarily on assumption of a decline in the ..

LIVE: We will work towards inflation target of 4%, says RBI Governor

Catch all the updates of the live address by Reserve Bank of India's Governor Shaktikanta Das on the decision by the Monetary Policy Committee on repo rate

Credit Information firms to compensate for delayed updations: RBI

According to RBI Governor Shaktikanta Das, the above measures will further enhance consumer protection

Current account deficit to remain moderate, eminently manageable: RBI Guv

Reserve Bank Governor Shaktikanta Das on Thursday excuded confidence that India's current account deficit (CAD), a key external sector indicator, is likely to remain moderate in the January-March quarter of 2022-23 and also eminently manageable going forward. The CAD for the first three quarters of 2022-23 stood at 2.7 per cent of GDP. In the October-December quarter, CAD narrowed significantly to 2.2 per cent from 3.7 per cent in the preceding three months on account of lower merchandise trade deficit and robust growth in services exports. "Overall, our external sector indicators have improved significantly. Foreign exchange reserves have rebounded from USD 524.5 billion on October 21, 2022 and now stand in excess of USD 600 billion taking into account our forward assets," Das said while unveiling the bi-monthly monetary policy. Das said India's services exports continued to grow at a healthy pace in the first two months of 2023. Better growth prospects of the gulf cooperation ..

No change: MPC presses 'pause' after hiking rate by 250 bps since May 2022

RBI governor makes it clear that if required, MPC could hike rates in future meetings

RBI monetary policy: MPC votes for pause, keeps repo rate unchanged at 6.5%

RBI repo rate: The MPC decision to hit the pause is for this policy cycle only, says RBI governor Shaktikanta Das

RBI repo rate decision: When and where to watch speech of governor Das

RBI Monetary Policy decision: The speech can be watched on RBI's YouTube channel. It will be broadcast on PIB's YouTube channel as well