Shaktikanta Das News

10.08 / 07:55

Provident FIVE Align Remark stage FM Nirmala Sitharaman says, 'India transformed from fragile to fastest growing economy'| Watch

Nirmala Sitharaman highlighted a significant transformation in India's economic status. She pointed out that back in 2013, Morgan Stanley had categorised India as one of the five fragile economies worldwide. However, she emphasised that in the present day, Morgan Stanley has upgraded India's rating and placed it in a better position.

10.08 / 06:53

UPS Progressive SENSEX show country committee Monetary Policy Committee decisions: Full view of what happened at RBI's August policy meeting

inflation as it believes that soaring vegetable prices, likely transient, could ease soon after monsoon rains subside. It raised the inflation forecast for the financial year to 5.4 percent, from 5.1 percent earlier, as vegetable prices could keep the headline numbers high even though core inflation may be reasonable.

10.08 / 06:53

Provident CEO NIFTY Flushing banking system RBI move will suck out Rs 95,000 crore liquidity from banking system

RBI) Governor Shaktikanta Das found a smarter option to absorb surplus liquidity in the banking system — the imposition of incremental CRR. Banking industry analysts say the move will suck out additional liquidity worth around Rs 90,000-95,000 crore from the system.

10.08 / 06:53

Target Action Economists unpack RBI MPC's policy decisions, echo inflation worries

repo rate and GDP growth forecast unchanged at 6.5 per cent, said Governor Shaktikanta Das while announcing the rate-setting panel’s decisions. «The MPC decided to remain watchful and evaluate the situation,» said governor Das. The rate-setting panel unanimously opted to hold the key lending rate steady, in-line with analysts' expectations. The repo rate, the key policy rate at which the RBI lends to the banks, was last increased in February 2023 by 25 basis points (bps). The RBI had kept the rate unchanged in April and June meetings, after hiking rates cumulatively by 250 bps. We take a quick look at economists’ view of RBI’s latest decisions.Dr. Aurodeep Nandi, India Economist and Vice President at Nomura

10.08 / 06:11

UPS Provident Target Digital Progressive Align country RBI MPC Meeting August 2023. Full text of RBI Governor Shaktikanta Das' address

repo rate is the rate of interest at which RBI lends to other banks. "As we celebrate India’s 77th Independence Day in a few days, I am happy to note that the Indian economy is exuding enhanced strength and stability despite the massive shocks to global economy in recent years. Our economy has continued to grow at a reasonable pace, becoming the fifth largest economy in the world and contributing around 15 per cent to global growth.

10.08 / 06:11

Provident How RBI policy outcome will impact home loan borrowers explained

Shaktikanta Das said. “The concept entails putting in place a clear method for resetting the rate of interest on loans of this kind. The Governor of the Reserve Bank of India has highlighted this plan, emphasising the necessity for an easier and more organised approach regarding interest rate changes," said LC Mittal, Director, Motia Group.

10.08 / 05:33

UPS Digital 500 Now, pay up to Rs 500 via UPI Lite without PIN; transaction limit up from Rs 200: RBI

UPI Lite to Rs 500 from Rs 200 on August 10, 2023. While announcing the decisions of Monetary Policy Committee, RBI Governor Shaktikanta Das said, «With the objective of harnessing the new technologies for enhancing digital payments experience for users it is proposed to 1) Enable conversational payments on UPI which will enable the users to engage with Artificial Intelligence powered systems to make payments; 2) Using offline payments in UPI using near field communication technology through UPI Lite on-device wallet; 3) Enhance the transaction limit of small value digital payments in offline mode to Rs 500 from Rs 200 within the overall limit of Rs 2,000 per payment instrument.

10.08 / 05:29

UPS country RBI MPC meet: ‘Withdrawal of ₹2,000 note is temporary measure,’ says Governor Shaktikanta Das

RBI Governor Shaktikanta Das on Thursday's MPC meeting said that the withdrawal of the ₹2,000 note is a temporary measure. Once the complete withdrawal of ₹2,000 denomination from the country, there will be "adequate liquidity" in the system.

10.08 / 05:29

UPS Lowe's Extreme CEO performer RBI MPC: CPI projection is revised to 5.4%, says Governor Shaktikanta Das

RBI) gain kept the policy rates unchanged at 6.5%. The repo rate is the rate of interest at which RBI lends to other banks."Our economy has continued to grow at a reasonable pace becoming the 5th largest economy in the world, contributing around 15% to global growth," said RBI Governor Shaktikanta Das. Talking about inflation, Das said headline inflation after reaching a low of 4.3% in May, rose in June, and will surge in July and August, said.

10.08 / 05:29

UPS Lowe's RBI MPC Meeting: ‘Rate hike of 250 bps points working its way,' says Governor Shaktikanta Das

RBI MPC meeting: The Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday decided to keep policy rate unchanged for third time in a row during the bi-monthly monetary policy meeting. The RBI Governor said that the cumulative rate hike of 250 bps from FY23 is working its way through the economy. The repo rate increase cycle was paused in April this year after six consecutive rate hikes aggregating to 250 basis points since May 2022.

10.08 / 05:29

RBI introduces offline payment via UPI. Here is how you will benefit

The Reserve Bank of India (RBI) will allow offline payment of UPI by using near-field communication. The central bank raised payment limit via UPI lite to ₹500 from ₹200.

10.08 / 05:29

Provident Target Align ‘India is contributing approx 15% to global growth,’ RBI Governor Shaktikanta Das

RBI) governor Shaktikanta Das on Thursday said that India is contributing approx 15% to global growth. Das announce the third bi-monthly monetary policy for FY24 today. The three-day meeting of the six-member Monetary Policy Committee (MPC) of RBI was held from August 8 to 10.

10.08 / 05:29

Target Align country 2024 'India's April-June 2024 GDP growth seen at 6.6%': RBI Governor Das

RBI) Governor Shaktikanta Das on Thursday said that India is contributing approximately 15% to global growth, leading to the country's strong macroeconomic fundamentals and growth. During the MPC meeting today, Das said that the GDP growth forecast for April-June 2024 is pegged at 6.6%. “GDP growth projection for FY23-24 retained at 6.5%.

10.08 / 05:29

UPS NIFTY SENSEX RBI Policy: Sensex, Nifty pare losses; rate-sensitive banking, auto, realty indices rise after RBI maintains status quo

equity market benchmarks the Sensex and the Nifty pared their losses while rate-sensitive sectors such as bank, auto and realty turned green after the monetary policy committee (MPC) of the Reserve Bank of India (RBI) maintained a status quo on policy rates and stance on Thursday (August 10) on expected lines. Announcing the RBI policy committee meeting outcome, RBI Governor Shaktikanta Das said, “The monetary policy committee unanimously decided to keep the repo rate unchanged at 6.50 per cent." Besides, the RBI MPC decides to keep the policy stance unchanged at ‘Withdrawal Of Accommodation’. Following the announcement, the market benchmark Sensex and Nifty trimmed their losses.

10.08 / 05:03

Progressive Fighting country RBI's MPC retains India's real GDP growth projection for FY24 at 6.5%

Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday while announcing the MPC's decision to leave lending rates unchanged. The MPC has left its projections made in the June meeting unchanged.

10.08 / 05:03

Lowe's Target Extreme Align band country RBI raises inflation forecast for FY24 to 5.4%; Das vows to go beyond keeping an Arjuna's eye amid galloping food prices

The Reserve Bank of India has raised inflation aim to 5.4% from 5.1% forecast in June policy. The central bank today also held the benchmark rate steady for a third straight time at 6.5% and also retained stance by five-to-one vote to focus on withdrawal of accommodation. El Nino weather conditions and global food prices need to be watched closely and these developments warrant a heighetned vigil, RBI Governor and MPC Chair Shaktikanta Das said while announcing the policy decisions.

10.08 / 04:37

MET RBI monetary policy: Shaktikanta Das led MPC keeps repo rate unchanged at 6.50%

RBI monetary policy meeting: In a bid to keep the uptrend in micro and macro economic growth in India, Shaktikanta Das led monetary policy committee (MPC) unanimously decided to keep the repo rate unchanged at 6.50 per cent. The RBI monetary policy committee (MPC) announced the first bi-monthly policy for FY24 on April 6.

10.08 / 02:39

Align NIFTY SENSEX classical Stock market today: What to expect from Nifty, Sensex, Bank Nifty in trade on August 10

Nifty remained weak for most of the session but late-hour buying helped the index close 62 points higher at 19,633. Also Read: What changed for market overnight: Gift Nifty, RBI policy to global market cues for Sensex today Nifty formed a positive candle on the daily chart with a long lower shadow.

10.08 / 02:39

FIVE NIFTY Nikkei KOSPI show Five things that changed for market overnight: Gift Nifty, RBI policy to global market cues

inflation data in the US due later today. Concerns over deflation in China dented sentiment. Data showed China’s consumer prices dropped 0.3% in July from a year ago, while producer prices fell 4.4%.

10.08 / 01:05

RBI Policy Live: Governor Shaktikanta Das to announce monetary policy today, likely to keep rate unchanged

RBI Policy Live: The Reserve Bank of India (RBI) Governor Shaktikanta Das is set to announce the third bi-monthly monetary policy for FY24 today. The three-day meeting of the six member Monetary Policy Committee (MPC) of RBI was held from August 8 to 10. It is widely expected that the RBI will keep the repo rate unchanged at 6.5% today amid continuing inflationary fears.

09.08 / 17:53

Digital AXY Manufacturing CEO Platform NIIF taps Russell Reynolds to find next MD & CEO

NEW DELHI : The National Investment and Infrastructure Fund Ltd (NIIF) has mandated global leadership advisory firm Russell Reynolds Associates to find the next managing director (MD) and chief executive officer (CEO) of India’s quasi-sovereign wealth fund, two people familiar with the development said. After Sujoy Bose, who served as NIIF’s first MD & CEO for six years since 2016, quit in May, the company named Rajiv Dhar, the executive director and chief operating officer, the interim MD & CEO. In 2015, the then-department of economic affairs secretary Shaktikanta Das headed a search-cum-selection committee to select the CEO for the investment management company under NIIF.

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