Shaktikanta Das News

RBI) Governor, Shaktikanta Das, reiterated the central bank's firm stance on tackling inflation during a statement on Friday. Emphasising the Monetary Policy Committee's (MPC) objective, he stated that the goal is not only to achieve the 4 per cent inflation target but also to maintain it consistently.

'Buy stocks before June 4!': Rahul Gandhi blames Modi, Shah for ‘share market scam’, investors' ₹30 lakh crore lossHe also acknowledged about India's potential to become home to the world's largest developer community in the "age of AI"."India is at the nexus of monumental economic opportunity, as it is set to become the world’s largest developer community at the exact point in time the age of AI is taking off. More from me on this soon," he stated.Also Read | RBI to allow auto refill of UPI Lite wallet soon, here’s what Governor Shaktikanta Das said…In subsequent posts throughout the week, Dohmke was all praise for the country's "vivid creative expression" and AI innovation."It’s not just how you will build with AI, it’s the AI innovation you will build right here in India.

Reserve Bank of India (RBI) Friday maintained policy interest rates and its monetary stance for the eighth straight review meeting amid concerns of a likely spike in food prices, but the cracks in the Monetary Policy Committee widened in favour of easier money. It surprisingly raised the FY25 growth forecast, sending equity indices higher.

Governor Shaktikanta Das declared the central bank's latest monetary policy decision. He emphasized that the RBI does not follow overseas policies blindly but adapts to local economic conditions, likening it to playing cricket according to the local weather and pitch conditions.

RBI Monetary Policy LIVE UpdatesThe recent Lok Sabha elections have further bolstered economic sentiment, enhancing investor confidence through political stability and consistent economic policies.RBI Governor Shaktikanta Das recently announced this fiscal year's second bi-monthly monetary policy, stating that the Monetary Policy Committee (MPC) has opted to maintain the repo rate at 6.5 percent.He noted that the MPC will closely monitor elevated food inflation, especially considering the anticipated normal monsoon.Additionally, the RBI revised its growth forecast for the current fiscal year to 7.2 per cent, up from the previous estimate of 7 per cent.The government has directed the RBI to aim for CPI inflation of 4 percent with a deviation allowance of 2 percent on either side.The cycle of rate increases, which saw six consecutive hikes totalling 250 basis points since May 2022, was halted in April last year.Milestone Alert! Livemint tops charts as the fastest growing news website in the world

RBI) Governor, Shaktikanta Das, on Friday announced establishing a digital payments intelligence platform owing to recent surge in bank, digital frauds.

Reserve Bank of India has seen some moderation in certain loans and advances after it flagged concerns around unsecured retail lending in November, Governor Shaktikanta Das said on Friday. It also said that banks must maintain a prudent balance between assets and liabilities.

digital payments frauds, the Reserve Bank of India (RBI) has proposed to set up a digital payments intelligence platform. RBI Governor Shaktikanta Das announced on June 7, 2024, «The Reserve Bank has taken a number of measures over the years to deepen digital payments while ensuring their safety and security.

Bank of India (RBI) announced that UPI Lite will now be integrated with the e-mandate framework which will help in auto replenishment of UPI Lite balance. Governor Shaktikanta Das said that this integration will enhance the ease of making small value digital payments. «The UPI Lite facility currently allows a customer to load his UPI Lite wallet upto Rs 2000 and make payments upto Rs 500 from the wallet.

RBI Monetary Policy LIVE Updates: The Reserve Bank of India (RBI) Governor Shaktikanta Das is set to announce the second bi-monthly monetary policy of the financial year 2024-25 on Friday. This RBI policy will be the first one after the Lok Sabha election results 2024. The RBI Governor headed six-member Monetary Policy Committee (MPC) is expected to keep the benchmark repo rate unchanged at 6.5% for the eight consecutive time and continue with its stance of ‘withdrawal of accommodation’.

Lok Sabha constituencies, Mumbai Police Commissioner Vivek Phansalkar said that police personnel were deployed at polling booths yesterday itself.

Re-election has been recommended to the Election Commission at a polling booth in Aliganj village under Etah district and is part of Farrukhabad Lok Sabha constituency after a video of a youth casting multiple votes went viral on social media platforms.

six Lok Sabha seats in Mumbai: Mumbai North, Mumbai North Central, Mumbai North West, Mumbai North East, Mumbai South, and Mumbai South Central. 'After casting his vote, RBI Governor Shaktikanta Das remarked, "It is a proud moment for every Indian to participate in an election involving 140 crore people.

Retail inflation eases slightly in April, food inflation rises While the CPI inflation remains above the Reserve Bank of India’s target of 4 per cent, it has been within the central bank's tolerance range of 2-6 per cent for the eighth consecutive month. In July and August last year, retail inflation prints had come to 7.44 per cent and 6.83 per cent, respectively. India's retail inflation has been easing since December 2023, when it rose 5.69 per cent.

3 key reasons why RBI will not cut rates this year: Elara Capital In its last policy meeting in April, RBI Governor Shaktikanta Das highlighted concerns over food price uncertainties even as he expressed optimism that a record rabi wheat production would help ease price pressure. Moreover, the prospects of a normal monsoon are expected to augur well for the kharif season. Brokerage firm Nirmal Bang expects CPI inflation to come in at 4.91 per cent in April 2024.

Mint showed. Projections from the economists varied between 4.70% and 5.10%, with only four anticipating the inflation rate to exceed 5%. The official data is set to be released on 13 May.

India’s central bank digital currency (CBDC) has had a test run since 2022 and it’s heartening to see it evolve. The e-rupee may soon be made accessible even offline, which will enhance its ease of use.

The Reserve Bank of India (RBI) is working to expand the use of its Central Bank Digital Currency (CBDC) by actively developing an offline transfer capability.

inflation to the 4% target on a durable basis,” Reserve Bank of India (RBI) Governor Shaktikanta Das said in the minutes of the rate-setting panel’s last review meeting.

Concerns that volatile food prices could hurt the battle against inflation dominated the latest meeting of the central bank's rate-setting committee, minutes released on Friday showed, compelling the panel to hold the policy rate. While headline inflation measured by the consumer price index (CPI) cooled a bit from 5.1% in January to 5.09% in February, food inflation rose from 7.58% in January to 7.76%. Food inflation rose primarily driven by vegetables, eggs, meat and fish, the Reserve Bank of India’s (RBI) monetary policy committee (MPC) said.

foreign exchange reserves touched a fresh record high of $648.56 billion in the week ended April 5th, topping the previous high of $645.58 billion, latest data published by the central bank showed. The reserves rose by $2.9 billion and were primarily driven by gold assets that climbed $2.4 billion. A spike in bullion (gold) prices has caused reserves to surge. This is the third time in the past two months where reserves have touched fresh highs. Potential supply chain disruptions spawned by uncertain geopolitics in West Asia and Eastern Europe prompted central banks to increase their gold assets, helping mitigate the impacts of currency volatility and elevated interest rates in the US.