India’s economic growth is now ‘extremely fragile’ and needs all the support that it can get, as private consumption and capital investment are yet to pick up, RBI Monetary Policy Committee (MPC) member Jayanth R Varma said on December 23. Mr. Varma further said out of the four engines of growth for the economy, exports […]
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India’s Reserve Bank Governor, Shaktikanta Das, warned the next financial crisis can be triggered by private cryptocurrencies, if allowed to grow. | Photo Credit: Reuters Pressing for the prohibition of instruments like Bitcoin, Reserve Bank Governor Shaktikanta Das on Wednesday warned that the next financial crisis can be triggered by private cryptocurrencies, if such speculative instruments […]
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Reserve Bank of India (RBI) Deputy Governor Michael Patra. File. | Photo Credit: Reuters The balance of risks is increasingly tilted towards a darkening global outlook and emerging market economies (EMEs) appear to be more vulnerable, even though incoming data suggest that global inflation may have peaked, Reserve Bank of India officials led by Deputy […]
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“Banks have written off ₹11.17 lakh crore bad loans from their books in the last six years till financial year 2021-22,” Parliament was informed on December 20. The non-performing assets (NPAs), including those in respect of which full provisioning has been made on completion of four years, are removed from the balance sheet of the […]
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Shaktikanta Das highlighted the proactive and supportive role of the RBI in providing conducive policy environment for responsible innovation. | Photo Credit: Reuters Reserve Bank of India Governor Shaktikanta Das has asked financial technology (FinTech) firms to pay close attention to governance, business conduct, data protection, customer centricity, regulatory compliance and risk mitigation frameworks. On Wednesday, […]
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A man ties a balloon to the horns of a bull statue at the entrance of the Bombay Stock Exchang.in Mumbai. File photo | Photo Credit: Reuters The Benchmark indices climbed in early trade on Tuesday, December 13, 2022, amid firm global market trends and as retail inflation dipped below the RBI’s upper tolerance level […]
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File image. | Photo Credit: PTI The Reserve Bank of India (RBI) net sold $33.42 billion in the foreign exchange market in the first six months of current fiscal to defend the rupee from excessive volatility. The Central Bank closely monitors the foreign exchange markets and intervenes only to maintain orderly market conditions by containing […]
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Reserve Bank of India governor Shaktikanta Das, at a press conference at the RBI head office, in Mumbai, on December 7, 2022. | Photo Credit: AP Asserting that the newly-introduced Central bank digital currency (CBDC) does not leave any trail with a bank, RBI governor Shaktikanta Das on December 7 said there is no need […]
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Reserve Bank of India (RBI) Governor Shaktikanta Das, arrives to address a press conference on RBI’s monetary policy at RBI headquarters in Mumbai, India, Wednesday, December 7, 2022. | Photo Credit: AP Resident entities from India will now be permitted to hedge gold price risks at the International Financial Services Centre, RBI Governor Shaktikanta Das […]
Continue ReadingRBI governor Shaktikanta Das announced an additional function for Unified Payments Interface (UPI) platforms that would allow multiple debits. Mr. Das was effusive in his praise for the digital payment system in his address at the conclusion of the three-day Monetary Policy Committee’s (MPC) meeting. “UPI has emerged as the best payment system anywhere in […]
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