FORMER INDIA RBI GOVERNOR
Former RBI Guv Urjit Patel set to join Britannia Industries board again
Urjit Patel, former RBI governor, joins Britannia Industries board as an independent director. He recommenced after a two-year hiatus following his resignation in 2018. Patel’s diverse experience includes stints in both the private sector and central bank, distinguishing him from his predecessors. As a seasoned professional, he brings a unique perspective to the boardroom, ensuring a blend of regulatory expertise and corporate governance.
RBI Governor urges banks to step up efforts against ‘mule accounts’ & intensify customer awareness initiatives
RBI Governor Das emphasized the importance of managing third-party risks, enhancing compliance culture, and strengthening resilience in banks during a recent meeting with banking executives.
Britannia appoints ex-RBI Guv Urjit Patel as independent director
Britannia has appointed former Reserve Bank of India Governor Dr. Urjit Patel and Atul's MD Sunil Siddharth Lalbhai as Additional Non-Executive Independent Directors for five consecutive years, effective from July 2, 2024, to July 1, 2029. Patel served as the 24th Governor of RBI and was Deputy Governor from 2013 to 2018.
India's entry into JPMorgan Bond Index set to benefit real estate & manufacturing: Abhishek Banerjee
Analyzing India's economic shifts from surplus to GDP growth projections, Abhishek Banerjee says the focus lies on potential impacts on export sectors and bond markets, indicating promising growth opportunities in the economy. While India's increased production and exports are positive, the shift necessitates careful sector allocation in the near term to manage potential impacts on export-oriented industries.
RBI Guv Shaktikanta Das emphasises on need to eliminate biases in algorithms
Shaktikanta Das emphasizes the importance of enhancing AI and ML techniques at the central bank while addressing ethical considerations and biases in algorithms. The focus on data analysis, data privacy, and global standards for statistics underscores the central bank's commitment to leveraging technology for informed decision-making.
India's weekly vegetable spending up in the past few weeks, says survey
Rising vegetable prices due to various factors like the heatwave and monsoon challenges have led to increased consumer spending. Authorities are urged to step in to address the situation and stabilize prices for households across the country.
- Go To Page 1
Financial sector strong but RBI watchful of emerging risks, says RBI Governor Das
RBI's financial stability report underscores the importance of governance, Basel III norms compliance, and maintaining high CET1 ratios for banks. Monitoring GNPA ratios of public, private, and foreign banks essential for financial system stability and resilience.
No distractions, wavering on bringing down inflation to 4% says governor Das
RBI has to navigate its path towards the 4% inflation target with a "clear and unambiguous focus and (its) commitment to bring down the inflation to 4% cannot be any wavering," Das said in a speech at the Annual General Meeting of local industry lobby group Bombay Chamber of Commerce and Industry.
India moving towards 8% annual growth, at the threshold of major structural shift: RBI Governor Shaktikanta Das
RBI Governor Shaktikanta Das, addressing the 188th AGM of Bombay Chamber of Commerce & Industry in Mumbai, highlighted that India stands on the verge of a significant transformation in its growth path. He discussed the RBI's projected growth rate of 7.2% but also raised concerns about factors such as weather conditions, geopolitical tensions, trade disruptions, and financial market volatility. Despite these challenges, the governor expressed confidence in India's ability to achieve the forecasted growth.
Former RBI Governor Raghuram Rajan warns against fake videos of him recommending stocks
Former Reserve Bank of India (RBI) Governor Raghuram Rajan has cautioned investors against fake videos of him circulating on social media, giving investment tips, especially on individual stocks.
Former RBI DG Mundra asks regulators to 'introspect' after recent instances of unease, rulings
Former RBI Deputy Governor S S Mundra called for introspection among financial regulators at an Assocham event, citing instances of proposals causing unease in the industry.
Indian deposit insurer way behind global peers in processing reimbursements: RBI Deputy Governor
RBI deputy governor Michael Patra highlighted that India's deposit insurer DICGC lagged behind international counterparts in processing reimbursements, taking over a month compared to IADI's target of seven days. Challenges such as data quality, identification issues, and lack of alternative bank accounts hinder quick payouts. India mandates deposit insurance for all banks, covering 1,997 institutions, with a coverage limit of Rs 5 lakh per depositor. Patra emphasised the need for improved risk management and crisis frameworks in light of evolving challenges, such as climate change impacting financial systems.
India's world-beating growth pace to continue, says RBI Governor Shaktikanta Das
"In the first three quarters of 2023-24, the current account deficit was 1.2% (of GDP)," Das said. "Our teams are working on the fourth quarter numbers. They look to be even lower, and when you look at the annual current account deficit number, I will not be surprised next week when we publish the current account deficit numbers - they could be even lower than 1% (of GDP)," he said at the ET Now event.
Rising vegetable prices strain household budgets across India: Survey
A survey by LocalCircles highlighted significant consumer concerns over rising prices of essential vegetables—onion, potato, and tomato. It found that 16% of households are cutting consumption or feeling financial strain due to these price hikes, with another 31% anticipating impact if prices exceed INR 50 per kg. Currently, 2 in 3 households are paying above-average prices: Rs 25/kg or more for tomatoes, Rs 30/kg or more for potatoes, and Rs 35/kg or more for onions.
From tax schemes to pension demands: Modi's new finance minister has their work cut out as challenges mount
A day after PM Narendra Modi and his new council of ministers were sworn in, speculation was high about the next finance minister. Questions were arising whether Nirmala Sitharaman will continue in her role in the finance ministry or take on a different ministry this term. However, with PM's recent announcement of ministries, the air has now been cleared. The responsibilities remain the same for Sitharaman this time around: boosting the economy and navigating challenges amid global uncertainties.
Now autofill your UPI Lite wallet: You will soon get option to have auto debit mandate to maintain UPI Lite balance
UPI Lite: The Reserve Bank of India announced that now UPI Lite wallet is to be integrated with the e-mandate framework. This will help in auto-replenishment of the UPI Lite balance. If the balance in UPI Lite balance goes below a threshold amount, funds will be automatically added. Read here to know more about this feature of UPI Lite.
India's forex reserves at record $651 billion
India's foreign exchange reserves reached a record $651.5 billion as of May 31, 2024, bolstered by robust services exports and strong remittances. RBI Governor Shaktikanta Das highlighted the resilience of India's external sector. The rise in global capability centers and consistent foreign portfolio investments have also strengthened the economy's external financing position.
Inadequate tech at banks to blame for UPI downtimes
RBI governor Shaktinata Das mentioned that downtime in the UPI payment system is primarily due to weak technology on the banks' side rather than issues from NPCI. The volume of UPI transactions per day exceeds 450 million, with several instances of downtime reported in May 2024. The central bank has been working to reduce downtime instances to less than 1%.
RBI MPC Highlights: Das & co keep rates unchanged, but dovish clamour grows
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) kept the repo rate steady at 6.50% for the eighth consecutive meeting. However, a new shift emerged with Ashima Goyal joining Jayanth Varma in voting for a rate cut. The committee continues to prioritize inflation control and forecasts 7.2% GDP growth for FY25, supported by expected robust monsoons and a revival in private consumption.
R Gandhi welcomes RBI's focus on banking safety and payment system soundness
RBI has been paying more attention on that in recent months, especially the disclosure, relating to the terms and conditions of the most important terms and conditions of the credit that is being offered by the credit institutions and there that is the first step which had already been taken.
RBI following the US Fed? Guv Das says "we play according to local weather, pitch conditions"
The Reserve Bank of India (RBI) has emphasized its independence from global influences and prioritizing domestic economic conditions over distant horizons. The RBI's actions are primarily determined by domestic growth-inflation conditions and the outlook. India has maintained its stance of 'withdrawal of accommodation' since February 2023 and has not changed its stance of 'withdrawal of accommodation' since February 2023.
RBI MPC Meeting 2024 at a glance: Here's a one-stop guide to all key decisions
The Reserve Bank of India's Monetary Policy Committee (MPC) has decided to maintain the current interest rate at 6.5%, following a 4:2 majority decision. The panel projected real GDP growth for FY25 to be 7.2%, up from 7%. The MPC is also maintaining the Standing Deposit Facility rate at 6.25% and the Marginal Standing Facility bank rate at 6.75%.
RBI MPC: Governor Shaktikanta Das reveals how cricket and weather guide monetary policy
RBI Governor Shaktikanta Das announced the central bank's decision to keep interest rates unchanged, highlighting that RBI adapts monetary policy to local conditions, using a cricket analogy. The GDP projection for FY25 was raised to 7.2%, with an inflation forecast of 4.5%. The RBI aims to balance inflation and growth, focusing on domestic economic factors.
RBI MPC Meet 2024: RBI leaves inflation projection for FY25 unchanged at 4.5%
RBI MPC Meet 2024 LIVE: The Reserve Bank of India maintained its inflation forecast at 4.5% for this fiscal year amid concerns over rising food prices. The central bank found some relief as crude prices dipped below $80 per barrel. The RBI's Monetary Policy Committee kept the repo rate unchanged at 6.5% for the eighth consecutive time, citing vigilance against potential inflationary pressures. Governor Shaktikanta Das highlighted the uptick in vegetable prices and global food inflation. Despite a slight easing in overall retail inflation to 4.83%, concerns linger over food price hikes, particularly in items like garlic and ginger.
ARC route being misused by "tainted" promoters: RBI deputy governor Rao
M Rajeshwar Rao stressed that asked the leaders of the ARC sector to ensure that the sector remains focused on course charted through legislative and regulatory intent and should ensure that any negative perception about the functioning and governance standards of the ARCs is dispelled.
RBI Guv Shaktikanta Das launches PRAVAAH, Retail Direct mobile app and FinTech Repository
The Reserve Bank of India (RBI) has launched three major initiatives to enhance regulatory processes, facilitate retail investment, and provide comprehensive data on the fintech sector. The PRAVAAH portal is a secure web-based platform for individuals and entities seeking authorizations, licenses, or approvals from the RBI. The RBI Retail Direct mobile application simplifies transactions for retail investors, and the FinTech Repository provides data on Indian fintech firms for better regulatory understanding and policy formulation.
RBI warns NBFCs a mode they use for giving loans may bring grief
Bank Loans: The Reserve Bank of India has issued a caution to non-bank finance companies, advising them against becoming overly reliant on algorithm-based credit models. RBI Deputy Governor Swaminathan J flagged the importance of maintaining a balanced approach in credit assessment, highlighting potential risks associated with over-reliance on historical data and algorithms.
Congress veteran and former Gujarat governor Kamla Beniwal dies, condolences pour in
Kamla Beniwal, former governor of Gujarat, Tripura, and Mizoram, passed away at 97 in Jaipur after a brief illness. She served as a seven-time MLA, deputy chief minister of Rajasthan, and was a key figure in the Congress party.
Load More
