Tag: RBI

Former RBI Governor Urjit Patel appointed Vice President of AIIB

NEW DELHI: Former RBI Governor Urjit Patel has been appointed as a Vice President of the Beijing-based multilateral funding institution AIIB, according to sources in the bank on Sunday. India is a founding member of the Asian Infrastructure Investment Bank (AIIB) with the second highest voting share after China. It is headed by former Chinese […]

India’s forex kitty increases by $289 million to $640.40 billion

NEW DELHI: India’s forex exchange reserves increased by USD 289 million to USD 640.401 billion for the week ended November 19, the Reserve Bank said on Friday. The overall reserves had declined by USD 763 million to USD 640.112 billion in the previous reporting week. They had touched a life time high of USD 642.453 […]

India’s foreign exchange reserves increase $1.9 billion to $642 billion: RBI

NEW DELHI: India’s forex reserves have increased by USD 1.919 billion to USD 642.019 billion for the week ended October 29 on a healthy increase in the currency assets and value of gold, the Reserve Bank said on Friday. The overall reserves had declined by USD 908 million to USD 640.1 billion at the end […]

RBI keeps policy rate unchanged for 7th time in a row; repo retained at 4 per cent

NEW DELHI: The Reserve Bank of India (RBI) on Friday decided to keep benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance as the economy is yet to recover from the impact of second COVID-19 wave. This is the seventh time in a row that the Monetary Policy Committee (MPC) headed […]

Banks given liquidity facility of Rs 50,000 crore to improve access to emergency health services

NEW DELHI: The RBI Governor Shaktikanta Das has announced a series of measures to support the nation’s fight against the second wave of COVID-19 infections. “Alleviating any constraint from the financing side for all stakeholders – government, hospitals and dispensaries, pharmacies, vaccine/medicine manufacturers/importers, medical oxygen manufacturers/suppliers, private operators engaged in the critical healthcare supply chain, […]

RBI deputy governor BP Kanungo retires after completing 1-year extension

NEW DELHI: Against expectations of getting a second extension, the senior-most deputy governor BP Kanungo retired from the Reserve Bank of India  (RBI) on completion of his one-year extension on Friday. Kanungo joined the RBI in 1982 and was in charge of currency management, external investments, operations, payment, and settlement system, among others, during the […]

RBI keeps policy rate unchanged fourth time in a row

NEW DELHI: Reserve Bank of India (RBI) on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying rate cuts in the future if need arises to support the economy hit by the COVID-19 pandemic. The benchmark repurchase (repo) rate has been left unchanged at 4 per […]

Prioritise spending, boost infrastructure, sell PSUs: Raghuram Rajan on Budget

NEW DELHI: Former Reserve Bank of India (RBI) Governor Raghuram Rajan says the government should take advantage of the peaks in the Indian equity markets right now and sell stakes in PSUs while prioritising spending to get the economy back on track. The upcoming Budget for the fiscal year beginning April 1 should look to […]

Inflationary woes: RBI retains rates, maintains accommodative stance

NEW DELHI: The Reserve Bank of India (RBI) on Friday retained its key short-term lending rates to subdue the unabatedly high inflation rate. However, the Monetary Policy Committee (MPC) of the central bank maintained the growth-oriented accommodative stance, thus opening up possibilities for more future rate cuts. Resultantly, MPC voted to maintain the repo rate […]

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