Shaktikanta Das News

Also Read: Bond yields spike amid bets of interest rates staying higher for longer; how will it impact Indian stock markets? -The surge in bond yields came after RBI Governor Shaktikanta Das said, while announcing monetary policy, that the central bank plans to auction bonds through open market operations (OMO) to manage liquidity. OMO is a term which refer to purchase or sales of government securities in the open market by the RBI.

₹5 lakh crore have been undertaken," read the Statement on Developmental and Regulatory Policies, issued on October 6. Under tokenisation services, a unique alternate code is generated to facilitate transactions through cards. It is the process of substituting a 16-digit customer card number with a non-sensitive equivalent value, referred to as a token.

Reserve Bank of India (RBI) maintains a tighter monetary policy stance for a longer than anticipated period. In his monetary policy speech on Friday, Governor Shaktikanta Das mentioned how global equity markets have corrected in the wake of sovereign bond yields having firmed up and the US dollar appreciating. “When 10 year US Bond yields fall below 3%, equities will have attractive risk reward propositions. Till that time bonds will continue to compete with equities," Umesh Kumar Mehta, Chief Investment Officer at SAMCO Mutual Fund said.

repo rate unchanged at 6.5 per cent on Friday (October 6) and also retained its policy stance as the "withdrawal of accommodation" with five out of six MPC members voting in favour of this. Growth and inflation projections also did not see any remarkable revision. However, the tone of the governor was hawkish as he emphasised the central bank was targeting inflation near 4 per cent and not between 2-6 per cent.

The Reserve Bank of India's (RBI) Monetary Policy Committee unanimously decided to keep the repo rate- key lending rate- unchanged at 6.5 per cent for the fourth time in a row. The rate-setting panel also left the policy stance unchanged with focus on withdrawal of accommodation. The central bank now sees inflation for Q2, Q3 and Q4 at 6.4%, 5.6% and 5.2%, respectively.

India's Monetary Policy Committee (MPC) on Friday that it expects India's GDP growth for FY24 to come in at 6.5%, in line with its previous predictions. «Risks are evenly balanced, with real GDP growth at 6.5% with Q2 at 6.5%, Q3 at 6% and Q4 at 5.7%,» Governor Shaktikanta Das said during his address post the meet.

Read here what they said.The Reserve Bank of India (RBI) Governor Shaktikanta Das-led Monetary Policy Committee meeting ends today. The RBI policy’s repo rate decision will be announced later today.

RBI) have rarely been this comfortable when developed nations' financial markets were in turmoil. Soaring yields, rising defaults, wobbly financial markets and troubled geopolitics are all around, but few ripples are seen here. When the Federal Reserve chairman and the European Central Bank president are still guiding for raising interest rates, RBI Governor Shaktikanta Das, when he reveals the status quo monetary policy on Thursday, can step aside while providing the central bank's customary cautionary footnote on remaining vigilant. At the heart of monetary policy making is prices and the character of that is diverging between developed markets and the emerging markets, especially India, which tracks a consumer price index loaded with food articles. Prices are set to rise more than the target for some more quarters, but the solace is that the RBI's target of 4% is less than 200 basis points away.

Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! RBI MPC Meeting Date: The three-day meeting of the RBI's rate-setting panel started on Wednesday, October 4 and the outcome is due on Friday, October 6.

Nifty 50 today: Key domestic equity indices the Nifty 50 and the Sensex snapped their two-day losing run on Thursday amid mixed global cues ahead of the monetary policy meeting outcome on Friday. The three-day Monetary Policy Committee (MPC) meeting of the Reserve Bank of India (RBI) is underway. RBI Governor Shaktikanta Das will announce the outcome tomorrow.

RBI) tolerance limit of 2-6% for a second consecutive month. Read here: India's retail inflation eases to 6.83% in August from 15-month high peak in July; remains above RBI's tolerance band In its August monetary policy, while keeping the repo rate unchanged, the Monetary Policy Committee (MPC) of the central bank, headed by RBI Governor Shaktikanta Das had raised CPI inflation forecast for the July-September quarter of FY24 to 6.2% from 5.2%.

RBI) will gradually unwind its requirement of mandating banks to park an additional 10% of their fresh deposits during a specific period with the central bank. Starting Saturday, 25% of the incremental cash reserve ratio (ICRR) will be released, followed by another 25% on 23 September. The remaining 50% of the ICRR will be released on 7 October, RBI said in a statement on Friday.

Public Tech platform for frictionless credit will be akin to the "UPI moment" for lending in India, ushering in a new era of efficiency in disbursing loans in rural areas, executive director Ajay Choudhary said. «This is going to be revolutionary. This will be another UPI (Unified Payments Interface) moment for the credit.

Reserve Bank of India wants the fledgling fintech sector to build its own self-regulatory organisation. The industry should form an SRO and the regulator is open to engaging with such an organisation, RBI Governor Shaktikanta Das said at the Global Fintech Festival 2023 today. Addressing the same event on Tuesday, RBI Deputy Governor T Rabi Sankar had highlighted the need for self-regulation as well.

Reserve Bank of India is in advanced talks with the European Securities and Markets Authority (ESMA) on the tussle surrounding oversight of the Clearing Corporation of India (CCIL) even as discussions with other overseas authorities on the issue have progressed far more smoothly. «Conversations regarding MoUs (Memorandum of Understanding) are going on regularly with the ESMA. The others (other global regulators) have taken a much more relaxed stance.

MUMBAI : Global cooperation is essential to tackle cryptocurrencies and other threats emanating from the cyber space, finance minister Nirmala Sitharaman said on Tuesday, outlining a topic that is set to be a key Indian focus at a Group of 20 summit in New Delhi this weekend. “As much as you build firewalls, there are more and more newer ways in which attacks are being made. Crypto (is a) threat as well as an opportunity," Sitharaman said at a Global Fintech Fest here.

retail inflation is expected to remain elevated in August as well, due to rising prices of cereals, sources said. The August inflation print is scheduled to be announced on September 12. However, sources said, it is expected to start moderating from September onwards due to fall in prices of vegetables like tomatoes, restrictions imposed on the export of non-basmati rice and cut in the prices of domestic LPG cylinders. Last week, RBI Governor Shaktikanta Das also said that the central bank expects inflation to moderate from September onwards. «We expect overall inflation to start moderating from September onwards.

Reserve Bank of India’s (RBI) Governor Shaktikanta Das has touted Central Bank Digital Currencies (CBDCs) as a solution to 'high cost, low speed' cross-border payments. 

New Delhi: The Reserve Bank of India (RBI) governor Shaktikanta Das on Monday said that cross-border payments can be made more efficient through adoption of digital currencies. “The empirical data that we are generating would go a long way in shaping the policies and future course of action. With its instant settlement feature, I believe, CBDCs (central bank digital currencies) can play an important role in making cross-border payments cheaper, faster and more secure," he said at the G20 TechSprint 2023.

Reserve Bank of India (RBI) Governor Shaktikanta Das highlighted the need for bringing in solutions to tackle the key challenges to existing cross border payments including high cost, low speed, limited access and insufficient transparency. To this, the governor of India's central bank suggested that Central Bank Digital Currency (CBDC) can play an important role in making cross-border payments cheaper, faster and more secure. «Faster, cheaper, more transparent, and more inclusive cross-border payment services would deliver widespread benefits to people and economies worldwide.

RBI) Governor Shaktikanta Das has been rated ‘A+’ in the Global Finance Central Banker Report Cards 2023, the central bank said on Friday. Taking to X (former Twitter), RBI said," We are happy to announce that Governor Shaktikanta Das has been rated “A " in the Global Finance Central Banker Report Cards 2023.