Page 26 - Shaktikanta Das

RBI Monetary Policy: Expect 35 bps repo rate hike tomorrow, say experts

RBI Policy: After an initial rate hike of 40 basis points on May 4, the RBI has hiked the repo rate by 50 basis points thrice, on June 8, August 5 and September 30

Cooling prices give Reserve Bank of India space to slow interest-rate hikes

Das will announce the rate decision through a webcast at 10 am in Mumbai on Wednesday, and will address a press conference at 12 pm.

A 35-basis-point rate increase could be par for the course

This will take the policy rate to 6.25% and the RBI can continue with an open-ended statement, refraining from sounding dovish

Risk of global hard landing, but India differently placed: Shaktikanta Das

Das had said earlier this year that the RBI was striving to ensure a 'soft landing' for the Indian economy while bringing domestic inflation back to the central bank's 4 per cent target over a period

With war in Europe, world encountering food, energy crisis: Shaktikanta Das

The war in Europe brought with it new challenges, just when the economy was about to normalise fully despite the third wave of the COVID-19 pandemic and suddenly, the world encountered a severe food and energy crisis, Reserve Bank Governor Shaktikanta Das said on Saturday. Delivering the inaugural address at the annual research conference of the Department of Economic and Policy Research of RBI here, Das said the COVID-19 pandemic crisis created an opportunity to explore and harness the power of big data and strengthen direct feedback mechanisms while working from home. He further said the pandemic also posed new research issues and analytical challenges for policy-making as it caused a demand shock or a supply shock, the size and nature of policy stimulus required, and their effectiveness, among others. The RBI Governor said the first major challenge was data collection during the first wave of the pandemic and the associated statistical break in data. During the second wave which

Keep eye on macroeconomic scene: RBI to banks amid deposit growth concern

Concerned over deposit growth lagging high credit offtake; seeks views on collection, IT infra, DBUs

Indian banking sector resilient despite challenges: RBI Governor Das

Das made these remarks during a review meeting with Chairpersons of public sector banks and some private sector banks, which was also attended by other senior officials of the RBI

Why is the RBI governor worried about deposit growth?

Gauging sustainability of the credit growth in banking sector and the slow growth in deposits will be on the agenda of RBI Governor's meeting today. Why has deposit growth become a cause for concern?

RBI governor Shaktikanta Das to meet bank chiefs ahead of monetary policy

Like to discuss issues related to growth, interest rates

Expect next inflation print to be below 7%, says RBI Governor Das

Terming price rise as a major challenge, Reserve Bank Governor Shaktikanta Das on Saturday expressed hope that inflation print for October will be lower than 7 per cent. Retail inflation in September increased to 7.4 per cent from 7 per cent in August on higher food and energy costs. He attributed the expected moderation in inflation in October to measures taken by both the government and RBI in the last 6-7 months. Speaking at the HT Leadership Summit, Das there is no need to change the goal post for inflation targeting as higher than 6 per cent inflation would hurt growth. The rate-setting Monetary Policy Committee headed by the RBI Governor has been mandated by the government to keep inflation within 2-6 per cent range. On the Indian economy, Das said the macroeconomic fundamentals remain strong and growth prospects are looking good. "We expect the October number which will be released on Monday to be lower than 7 per cent. Inflation is a matter of concern with which we are no

India likely to remain fastest growing major economy: RBI Governor Das

Reserve Bank Governor Shaktikanta Das on Saturday exuded confidence that India will continue to be the fastest growing major economy with a likely growth rate of 7 per cent in 2022-23 on the back of strong macroeconomic fundamentals and financial sector stability. Speaking at the HT Leadership Summit 2022, Das emphasised that the country's economy remains resilient, supported by the banking and non-banking sectors. Das said the entire world has withstood multiple shocks. "I call it triple shocks of COVID-19 pandemic, then the war in Ukraine, and now the financial market turmoil." The Governor said the financial market turmoil is mainly emanating from the synchronised monetary policy tightening across the world by central banks, especially those in advanced countries, led by the US Fed, and the spillovers are being felt by the emerging market economies, including India. He further said in this kind of successive turmoils, European Union is facing a recession situation, but there are

Credit risk not being fairly priced in by banks, says SBI report

Credit demand at decadal highs and liquidity remains significantly downsized, says research

RBI's MPC meets to draft letter to govt on missing inflation target

The meeting was chaired by RBI Governor Shaktikanta Das and attended by all the other five members of the rate setting panel

RBI Meeting: All you need to know about additional monetary policy meet

Under Section 45ZN of the RBI Act, 1934, the central bank is required to write a letter to the Centre if it fails to maintain the inflation target

RBI's letter may cite Ukraine war as main reason for high inflation: Report

For the past few months the MPC's and the governor's conduct has pointed at the war in Ukraine as the main reason for inflation staying above 6 per cent for three consecutive quarters

Acting prematurely would have hurt economy, says RBI Governor Das

Shaktikanta Das defends timing of rate hikes amid failure to meet inflation target

Not in a hurry to launch CBDC; have to proceed carefully: RBI Guv Das

Central bank to consider findings of pilot projects before decision, he says

Our aim is to keep 'Arjuna's eye' on inflation, says RBI Governor Das

The Reserve Bank of India wishes to concentrate on inflation in the same way as Arjuna focussed on hitting the eye of a revolving fish in the epic Mahabharata, Governor Shaktikanta Das said on Wednesday. "No one can match the prowess of Arjuna, but our (RBI's) constant effort is to keep an Arjuna's eye on inflation," Das said at the annual FIBAC conference of bankers here. The remarks come at a time when inflation is ruling high and RBI will soon be explaining to the government about the reasons for overshooting the inflation target for nine consecutive months. Probably hinting at various factors which influence his own fight against inflation, Das said Arjuna would have assessed the speed at which the fish was revolving, the prevailing wind conditions, the intensity of the ripples in the pool of water below and the noise levels in the king's court while aiming at the fish. Das also defended RBI's strategies in the recent past amid criticism over price rise. He said the country wo

Retail e-rupee trials will start this month itself, says RBI governor Das

The RBI will follow up on the wholesale e-rupee pilot with a similar trial on the retail side this month itself, governor Shaktikanta Das said on Wednesday. He termed the launch of the central bank digital currency (CBDC), which started on the wholesale front between a limited set of banks on Tuesday, as a landmark moment in the history of currencies in the country, and added that it will majorly transform the way of doing business. "The retail part of the CBDC trial will be launched later during this month. We will announce the date separately," he said, speaking at the annual FIBAC conference of bankers here. The broader wish of the RBI is to execute a full-fledged launch of the CBDC "in the near future", Das said, choosing not to share a timeline for the same. "I don't want to give a target date by which time the CBDC will be launched in a full-scale manner because this is something where we have to proceed very carefully. This is the first time the world is doing it. We don't w

Missed inflation target, but acting early would have exerted costs: RBI Guv

RBI Governor Shaktikanta Das on Wednesday defended the Reserve Bank's handling of the price situation, saying acting prematurely on inflation would have exerted a heavy cost on the economy and citizens. Acknowledging that the inflation target has been missed, Das said the RBI decided to support the economy by not introducing a rate hike in face of a spike in inflation. "We prevented a 'complete collapse of the economy' by keeping rates lower and stayed away from premature tightening," Das said speaking at the annual FIBAC conference of bankers here. Acting early would have exerted costs to the economy and the people, Das said. He said the rate-setting Monetary Policy Committee (MPC) is meeting on Thursday to formulate a response to the government, but defended the RBI's move to not make the letter, to be written to the government, public. Not making the letter public does not compromise transparency, Das said, adding that nothing in the law gives him the authority, privilege and .