Business Standard

RBI Policy

Need unambiguous, clear focus on inflation: RBI Governor Shaktikanta Das

RBI Governor said that lag in deposit mobilisation compared to credit growth is a critical issue

Need unambiguous, clear focus on inflation: RBI Governor Shaktikanta Das
Updated On : 19 Jul 2024 | 10:22 PM IST

Close coordination with govt helped in economy's quick revival: RBI Guv

Governor Shaktikanta Das on Friday said the Reserve Bank's relations with the government have been "smooth" during his nearly six-year term, and credited the close coordination between the two for the quick revival of the economy after the pandemic. Speaking at an event organised by Financial Express here, the bureaucrat-turned-central banker said nobody has expected him to be a "cheerleader" for the government during his term. "I am saying from my experience. Nobody expects RBI to be a cheerleader. I have had no such experience," he said, responding to a specific question about a lament made by one of his predecessors in a recent book. Asked if he is open for a new term at Mint Road, Das said he is very focused on the current assignment and does not think of anything outside that. Das said the RBI is optimistic that its estimate of 7.2 per cent growth for FY25 will be met, and added that with steady growth, the focus of the policy has to be "clearly and unambiguously" on inflation

Close coordination with govt helped in economy's quick revival: RBI Guv
Updated On : 19 Jul 2024 | 1:50 PM IST

Finances of municipalities need overhaul as amenities crumble due to rains

Indivjal Dhasmana looks at finances of major civic bodies to analyse why they are underprepared perennially

Finances of municipalities need overhaul as amenities crumble due to rains
Updated On : 15 Jul 2024 | 12:29 AM IST

SAT directs Religare to comply with Sebi directions on Burman open offer

Told to file application with RBI, Irdai by July 22 along with concerns on 'fit & proper' status of Burmans

SAT directs Religare to comply with Sebi directions on Burman open offer
Updated On : 10 Jul 2024 | 10:56 PM IST

RBI moots rationalisation of norms for export, import transactions

According to draft norms, every exporter should furnish a declaration specifying the amount of the full export value of the goods or services

RBI moots rationalisation of norms for export, import transactions
Updated On : 02 Jul 2024 | 11:29 PM IST

Is India's economic growth really weak and could a repo rate cut boost it?

An external member of the MPC highlighted that India's economic growth is below potential, with weak consumption contributing to the slowdown

Is India's economic growth really weak and could a repo rate cut boost it?
Updated On : 02 Jul 2024 | 5:16 PM IST

Improving financial stability

Some areas of concern remain

Improving financial stability
Updated On : 01 Jul 2024 | 10:02 PM IST

Rs 2000 notes: 97.87% returned; Rs 7,581 cr worth notes still with public

The Reserve Bank of India (RBI) on Monday said 97.87 per cent of the Rs 2000 denomination banknotes have returned to the banking system, and only Rs 7,581 crore worth of the withdrawn notes are still with the public. On May 19, 2023, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation. The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, has declined to Rs 7,581 crore at the close of business on June 28, 2024. "Thus, 97.87 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned," the central bank said in a statement. The facility for deposit and/or exchange of the Rs 2000 banknotes was available at all bank branches in the country till October 7, 2023. The facility for the exchange of the Rs 2000 banknotes has been available at the 19 issue offices of the Reserve Bank since May 19, 2023. From October 9, 2023, RBI issue offices are also accept

Rs 2000 notes: 97.87% returned; Rs 7,581 cr worth notes still with public
Updated On : 01 Jul 2024 | 2:54 PM IST

Window opens to give urban cooperative banks an uplift

The success of National Urban Cooperative Finance and Development Corporation will revive public confidence in the sector and provide regulatory comfort

Window opens to give urban cooperative banks an uplift
Updated On : 30 Jun 2024 | 10:43 PM IST

RBI using alternative data sources for economic insights: Shaktikanta Das

World from moving from 'era of data scarcity to abundance', says central bank governor

RBI using alternative data sources for economic insights: Shaktikanta Das
Updated On : 29 Jun 2024 | 12:58 AM IST

BS Poll: Majority sees neutral interest rate between 1% to less than 2%

A debate on real interest rate has picked up steam as the repo rate has been kept unchanged at 6.5 per cent since February 2023 despite inflation prints showing a downward trend

BS Poll: Majority sees neutral interest rate between 1% to less than 2%
Updated On : 26 Jun 2024 | 12:04 AM IST

India at cusp of structural growth shift, says RBI gov Shaktikanta Das

The Indian economy recorded a growth of 8.2 per cent in FY24 and averaged 8.3 per cent in the last three financial years

India at cusp of structural growth shift, says RBI gov Shaktikanta Das
Updated On : 25 Jun 2024 | 10:35 PM IST

Additional director on Bandhan Bank is prudent measure by RBI: Macquarie

On Monday, RBI inducted an additional director on the board of Bandhan Bank - Arun Kumar Singh, former chief general manager of RBI

Additional director on Bandhan Bank is prudent measure by RBI: Macquarie
Updated On : 25 Jun 2024 | 6:13 PM IST

Govt bonds flattish as investors await inflows in index inclusion week

Indian bonds will be included in JPMorgan's widely-tracked emerging market debt index on June 28

Govt bonds flattish as investors await inflows in index inclusion week
Updated On : 25 Jun 2024 | 11:05 AM IST

India records current account surplus of 0.6% on higher service exports

India recorded a current account surplus of USD 5.7 billion or 0.6 per cent of GDP in the March quarter, the Reserve Bank said on Monday. In the year-ago period, the current account deficit stood at USD 1.3 billion or 0.2 per cent of GDP, and the same was USD 8.7 billion or 1 per cent of GDP in the preceding quarter ending December 2023. For FY24, the current account deficit narrowed to USD 23.2 billion or 0.7 per cent of GDP against USD 67 billion or 2 per cent of GDP in FY23, the RBI said in a release on the Developments in India's Balance of Payments.

India records current account surplus of 0.6% on higher service exports
Updated On : 24 Jun 2024 | 6:12 PM IST

RBI's rate panelists see growth risks, call for rate cut to sustain economy

The views of the three members show increasing concern among policymakers about momentum in Asia's third-largest economy

RBI's rate panelists see growth risks, call for rate cut to sustain economy
Updated On : 24 Jun 2024 | 12:04 PM IST

Govt bond yields fall ahead of expected inflows post index inclusion

Foreign banks also stepped up purchases of bonds last week ahead of the inclusion, and is expected to continue this week as well

Govt bond yields fall ahead of expected inflows post index inclusion
Updated On : 24 Jun 2024 | 11:10 AM IST

Bond investors positioned for India's index inclusion: Morgan Stanley

India's index-eligible bonds have attracted $10 billion since the inclusion was announced in September

Bond investors positioned for India's index inclusion: Morgan Stanley
Updated On : 24 Jun 2024 | 10:58 AM IST

Switch to India's longer-dated bonds extends as index inclusion date nears

While news of Modi's poor electoral showing triggered a bond selloff, the market later recovered after cabinet appointments including FM Sitharaman were seen to indicate no change

Switch to India's longer-dated bonds extends as index inclusion date nears
Updated On : 24 Jun 2024 | 7:04 AM IST

RBI's MPC minutes: External members make a strong case for rate cut

Internal members, however, cited food inflation risk for maintaining the status quo and said the last mile of disinflation has been slow

RBI's MPC minutes: External members make a strong case for rate cut
Updated On : 22 Jun 2024 | 12:22 AM IST