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RBI Monetary Policy: The repo rate is the interest rate at which the RBI lends money to commercial banks. The Reserve Bank of India’s Monetary Policy Committee (MPC) wrapped up its three-day deliberations today, deciding to maintain the repo rate at 6.5 per cent for the fourth consecutive time this fiscal year and the tenth…
Image for representational purposes only. | Photo Credit: Getty Images The rupee appreciated 5 paise to 83.92 against the U.S. dollar in early trade on Wednesday (October 9, 2024), ahead of the Reserve Bank of India’s monetary policy announcement. Most major central banks have pivoted toward rate cuts, with the U.S. Fed being the latest…
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The Monetary Policy Committee had last changed the key interest rate in February 2023. New Delhi: The Reserve Bank of India (RBI) has kept its key interest rate unchanged for the tenth consecutive time, its governor Shaktikanta Das announced today. A six-member Monetary Policy Committee (MPC) headed by Mr Das kept the repo rate unchanged…
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A worker walks past the logo of Reserve Bank of India inside its office in New Delhi. File | Photo Credit: Reuters The Central government, on Tuesday (October 1, 2024), appointed new monetary policy committee members with immediate effect. The new members are Ram Singh, Saugata Bhattacharya and Nagesh Kumar. They have been appointed by…
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A man stands next to a logo of the Reserve Bank of India (RBI) in Mumbai. | Photo Credit: Reuters India’s current account deficit (CAD) widened marginally to $ 9.7 billion (1.1% of GDP) in Q1:2024-25 from $8.9 billion (1.0% of GDP) in Q1:2023-24 and against a surplus of $4.6 billion (0.5% of GDP) in…
Read More “India’s current account deficit in Q1 FY25 widens to $9.7 billion” »
Image for representational purposes only. | Photo Credit: REUTERS The rupee traded in a narrow range to settle 4 paise higher at 83.95 (provisional) against the U.S. dollar on Thursday (September 12, 2024) amid a positive trend in domestic equities and foreign fund inflows. Forex traders said the rupee trade was range-bound, with a slight…
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The Reserve Bank of India (RBI) seal. | Photo Credit: REUTERS The story so far: The Reserve Bank of India (RBI), as part of its strategy to create digital public infrastructure in the country, has announced that a new technology platform called the Unified Lending Interface (ULI) would be introduced by the Reserve Bank Innovation…
Read More “What is the Unified Lending Interface by the RBI? | Explained” »
Narendra Modi said the social transformation brought about by the fintech sector is far-reaching. Mumbai: Prime Minister Narendra Modi on Friday said the government is taking various measures at the policy level to promote the fintech sector, which attracted over USD 31 billion in investments in the last 10 years, and the abolition of the…
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While digital innovations can ease the cross-border supply of financial services, they can also increase the likelihood of deposit insurers being exposed to member banks with a significant share of non-domestic depositors. File | Photo Credit: Reuters Reserve Bank of India (RBI) Deputy Governor Michael Patra on Tuesday (August 13, 2024) asked deposit insurers and…
The Reserve Bank of India (RBI) has constituted an Expert Committee under the chairmanship of deputy governor Michael Debabrata Patra to benchmark the statistics regularly disseminated by it against global standards/best practices; study the quality of other regular data, where such benchmarks do not exist (e.g., sectors of national priority); and provide guidance on the…
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