Inflation likely to remain elevated, Q3 CPI seen at 6.8%
MUMBAI: As India battles to break out of the Covid cloud and the severe setback inflicted by the pandemic on the economy, the Reserve Bank of India’s Monetary Policy Committee (MPC) expects inflation to remain high and the consumer price index (CPI) for the October-December quarter of FY21 is projected at 6.8 per cent. In […]
Past policy actions’ transmission to help ease conditions, RBI Governor in MPC meet
NEW DELHI: The ongoing transmission of past monetary policy actions would help ease financial conditions, Reserve Bank of India (RBI) Governor Shaktikanta Das had said during the Monetary Policy Committee (MPC)meet earlier this month, according to its minutes released on Friday. The statement assumes significance as past rate cut transmission will provide lower interest rates […]
Highlights of RBI’s monetary policy statement
NEW DELHI: Following are the highlights of RBI Governor Shaktikanta Das’ statement and resolution of the Monetary Policy Committee (MPC): * Benchmark lending rate kept unchanged at 4 pc * Indian economy expected to contract 9.5 pc this fiscal with downside risks * Contraction 9.8 per cent projected in July-September; 5.6 pc in October-December and […]
Covid-19 impacted economy may see gradual recovery: RBI Governor
NEW DELHI: The recovery of the Indian economy reeling from the impact of the Covid-19 pandemic will be gradual, RBI Governor Shaktikanta Das said on Wednesday. Addressing the FICCI National Executive Committee Meeting, the central bank chief said that the country is still reeling under the impact of Covid-19 and will gradually come back on […]
RBI Governor meets heads of rating agencies, seeks assessment of Indian economy
NEW DELHI: RBI Governor Shaktikanta Das on Thursday sought credit rating agencies’ assessment of the macroeconomic situation and their outlook on various industries, including the financial sector, the central bank said in a statement. The RBI Governor met managing directors and chief executives of credit rating agencies (CRAs) through video conferencing. The meeting was also […]
Experience more relevant than what you learnt 35-40 years ago: RBI governor
NEW DELHI: Shaktikanta Das has played down many jokes and spoofs about his history background soon after his surprise appointment as the 25th governor of the Reserve Bank of India last December after the “protest” resignation of Urjit Patel. Academic qualification of the head of the central bank is not relevant, but what matters is […]
5% GDP growth in Q1 a surprise, but government’s steps will help economy: RBI Governor
NEW DELHI: RBI Governor Shaktikanta Das on Monday termed the low GDP growth of 5 per cent as a “surprise” but expressed confidence that the economy will look up with a host of measures taken by the Narendra Modi government. He further said that the RBI has been cutting rates to give a boost to […]
RBI Governor says 35 bps rate cut balanced, based on data
NEW DELHI: Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday termed the steeper 0.35 percent repo rate cut as a “balanced” call given the domestic and global developments. He explained that a 0.25 percentage points reduction, as it has done thrice this year since February, would have been “inadequate”, while a 0.50 percentage points […]
RBI Governor Shaktikanta Das meets Arun Jaitley
NEW DELHI: Reserve Bank of India (RBI) Governor Shaktikanta Das called on outgoing Finance Minister Arun Jaitley here on Sunday. The governor in a tweet said that it was a courtesy meeting. “Had a courtesy meeting with Hon’ble Union Minister @arunjaitley this evening,” Das tweeted while posting a picture of the meeting. His tweet came […]
Government refuses to reveal details on RBI Governor Shaktikanta Das appointment
NEW DELHI: The government of India has refused to share details related to the appointment of RBI Governor Shaktikanta Das citing a clause in the transparency law which bars disclosure of information, including “records of deliberations of the council of ministers, secretaries and other officers”. Replying to an RTI query, it declined to share the […]
RBI Governor to hold pre-policy meet with trade bodies, rating agencies on March 26
NEW DELHI: Reserve Bank of India (RBI) Governor Shaktikanta Das will hold discussions on March 26 with representatives of trade bodies and credit rating agencies on interest rate and steps to boost economic activities, said sources. The meeting, which comes ahead of the next financial year’s first MPC meet scheduled for April 4, is aimed […]
RBI governor meets PSU banks’ CEOs, conveys regulator’s expectations
NEW DELHI: Ahead of the monetary policy review, Reserve Bank of India Governor Shaktikanta Das on Monday met heads of public sector banks and conveyed to them the regulator’s expectation from the banking sector. RBI is scheduled to announce its sixth bi-monthly monetary policy for 2018-19 on February 7. It would be the first monetary […]
RBI Governor Shaktikanta Das involved in ‘corruption’, alleges Subramanian Swamy
NEW DELHI: BJP leader Subramanian Swamy on Saturday alleged Reserve Bank of India (RBI) Governor Shaktikanta Das was involved in corruption and termed his recent appointment to the top post as a “surprise”. He did not give any details about the “corruption”, an allegation he has made in the past as well. “The new governor […]
Shaktikanta Das named new RBI Governor
NEW DELHI: Former bureaucrat Shaktikanta Das on Tuesday was appointed the new governor of the Reserve Bank of India (RBI), a government statement said. He replaces Urjit Patel, who surprisingly resigned from the central bank on Monday. A former civil servant, Das is also a member of the 15th Finance Commission. Das, who retired as […]
Urjit Patel resigns as RBI Governor
NEW DELHI: Reserve Bank of India (RBI) Governor Urjit Patel, who had a run in with the government over autonomy of the central bank, Monday resigned from his post. In a brief statement, Patel said he has decided to step down with immediate effect. He, however, did not specify the reason for the decision. Patel […]
RBI Governor Urjit Patel to submit written answers to questions raised by MPs
NEW DELHI: In an apparent defence of the government’s demonetisation decision, Reserve Bank of India (RBI) Governor Urjit Patel on Tuesday told law makers that the note ban’s impact was transient and the economy is robust, sources said. Patel, who appeared before the Parliamentary Standing Committee on Finance, would give written responses on some of […]