Page 27 - Shaktikanta Das

India's core sector output growth slips to nine-month low in August

The Reserve Bank of India (RBI) on Friday pared its growth forecast for FY23 to 7 per cent from 7.2 per cent estimated earlier

Rupee fluctuations not a factor for MPC's consideration, says RBI

'Net LAF continues to be in surplus for the past two years, except for 2-3 days when because of SLF for the primary dealers it became deficit'

Banks can boost liquidity by drawing down on CRR: RBI governor Das

The fall in the liquidity surplus is owing to multiple factors, including the RBI's interventions in the forex market and a sharp pick-up in bank credit growth, which is currently at nine-year highs

Currency movements not guiding factors for monetary policy: Shaktikanta Das

Reserve Bank of India Governor Shaktikanta Das on Friday said that currency movements are not the guiding factors for monetary policy decisions. He said currency management is the domain of RBI and that it will deploy all the appropriate measures on the same. The Monetary Policy Committee, which decided to go for a rate hike of 0.50 per cent earlier in the day, takes into account domestic factors on inflation and growth while formulating its rates strategy, Das told reporters during the customary post-policy press conference. He said the primacy is given to inflation while the aspect of growth is also looked into. On liquidity, Das said there should not be any worries about tightness and that the system wide funds availability was more than Rs 5 lakh crore. Deputy Governor T Rabi Sankar said rupee trade proposals have been received from four to five countries and many banks. He did not provide further details.

RBI may adopt expected loss approach for banks' loan provisioning: Guv Das

Governor Shaktikanta Das on Friday said the Reserve Bank is mulling to adopt the "expected loss" approach for loan provisioning. At present, the banks follow the "incurred loss" approach, where money is set aside after an asset turns sour. Das called the proposed transition a "more prudent and forward looking approach", and said that a discussion paper will be released soon for stakeholders to comment on the same. "We will release a discussion paper on 'expected loss-based approach' for loan loss provisioning by banks," the Governor said after announcing the bi-monthly policy review. He said the approach to make provisions or set aside money on the probable losses is a globally accepted prudent norm. At present, larger non-bank lenders have already been using the expected loss approach for provisioning since 2018. Banks were also expected to follow the expected loss approach in 2018 itself, but it had not been implemented because certain necessary amendments to the Banking Regula

Regulations for offline payment aggregators to be same as online peers: RBI

Offline payment aggregators (PAs) who aid in face-to-face transactions at merchant outlets will now come under the regulatory purview of RBI, Governor Shaktikanta Das announced on Friday. "Keeping in view the similar nature of activities undertaken by online and offline PAs, it is proposed to apply the current regulations to offline PAs as well," Das said after announcing the bi-monthly policy review. Das said there will be "convergence on standards of data collection and storage" after the move, meaning that such companies will not be able to store details like those of credit and debit cards of a customer. The Governor said PAs play an important role in the payments ecosystem and hence were brought under regulations in March 2020 and designated as Payment System Operators (PSOs). However, the current regulations are applicable only to PAs processing online or e-commerce transactions, he said, adding that they do not cover offline PAs who handle proximity/face-to-face transactions

RBI policy projections: Sept inflation to hit five-month high of 7.6%

Central bank will have to write to government explaining the reasons of its failure to contain inflation up to 6%

RBI to publish paper on expected loss-based approach for loan provisioning

Banks now make loan loss provisions on incurred loss model, wherein provisions are made after defaults

RBI Monetary Policy: Repo rate up by 50bps; here's how it will impact you

On Friday, RBI increased the repo rate by 50 basis points taking the key repo rate to 5.9%; here is why it should matter to you

RBI monetary policy: Repo rate hiked by 50 bps, here is what it tells us

RBI Policy: Shaktikanta Das announced the RBI MPC's decision to hike the repo rate by 50 basis points to 5.9% and slash the GDP forecast for FY23 to 7% from 7.2% earlier

RBI policy: Repo rate hiked by 50 bps to 5.9%; FY23 GDP forecast cut to 7%

CPI inflation for the current financial year is seen at 6.7%, with the price gauge seen at 7.1% in July-September

RBI policy review LIVE: Inflation forecast for FY23 remains unchanged

RBI Monetary Policy Live update: This would be the fourth hike in the policy repo rate by the Reserve Bank of India, which is currently at 5.4%

India's forex reserves fell the most among emerging economies: Report

Since the beginning of 2022, India's reserves have fallen 13.88 per cent from $633.6 billion to $545.6 billion

RBI policy: How inflation, repo rate and demand are linked to each other

With the RBI MPC expected to announce its decision on Friday, we explain how inflation, repo rate and demand are linked to each other

RBI to hike repo rate by 50 bps for 3rd time in a row as rupee slumps

The Reserve Bank of India's six-member monetary policy committee will raise its repurchase rate by 50 basis points to 5.9%, according to 24 of 35 economists surveyed by Bloomberg as of Wednesday.

RBI MPC: Experts see a 50 bps hike, pressure on the real estate sector

Costlier EMIs and the limited ability of banks to transmit the rate hikes to customers may lead to the real estate sector becoming among the worst impacted sectors

RBI policy: Here is how a repo rate hike can affect your finances

If RBI increases the repo rate, the cost of borrowing by banks also rises, which subsequently makes taking loans from banks costlier

Red signals for fintech industry: The valuations game of the past is over

RBI Governor Shaktikanta Das' traffic light imagery for the fintech industry has several implications

Will RBI go for 50-bps rate hike this week?

This hike is par for the course - not to fight inflation alone but also to stem currency depreciation

Top Headlines: Byju's focus on profit; YES Bank sells stressed loans

After reporting a loss of Rs 4,588 crore in 2021 fiscal, Byju Raveendran, the founder and CEO of the world's most valuable edtech firm Byju's, has told employees