Forex reserves scale record high of $434.6 billion

MUMBAI: The foreign exchange reserves touched a record high of USD 434.6 billion as on October 1. While announcing fourth bi-monthly monetary policy, the RBI Governor Shaktikanta Das said as of October 1 the forex kitty peaked to the record high. Between April and October 1, the country’s forex reserves had increased by USD 21.7 … Read moreForex reserves scale record high of $434.6 billion

Is low inflation the culprit for India’s economic woes?

By Abheek Barua The relatively sparse attention paid to the role of past monetary policy mistakes in understanding the roots of the current slowdown is surprising. A closer scrutiny of recent monetary history offers better clues to the growth puzzle than hypotheses like demand saturation or changing consumption habits of millennials. Also, the tenure of … Read moreIs low inflation the culprit for India’s economic woes?

Can’t talk of recovery yet, let’s first see what Q2 shows: RBI Governor Shaktikanta Das

In an interview to ET Now, RBI Governor Shaktikanta Das today said that the space for monetary action will be contingent on incoming data. He said neither the RBI nor the government was in a position to be able to talk of recovery yet. It will have to be seen how Q2 numbers pan out, … Read moreCan’t talk of recovery yet, let’s first see what Q2 shows: RBI Governor Shaktikanta Das

Merging state banks won’t solve governance issue: Former RBI Governor YV Reddy

MUMBAI: Former Reserve Bank of India Governor YV Reddy on Friday said that merging state-run banks will not solve the issue of governance and consolidation should be based on synergies with boards driving the initiative. Reddy also said that global experience has so far shown that half of bank mergers have been ineffective. “I won’t … Read moreMerging state banks won’t solve governance issue: Former RBI Governor YV Reddy

All is not well is the byword as Shaktikanta gives India ‘Panglossian’

RBI Governor Shaktikanta Das held forth on the current lean patch of the economy at a FICCI event today, in the process giving India a rarely used, Tharooresque term to talk about: Panglossian. “Mood of doom and gloom is not going to help anyone. I am not saying we maintain a Panglossian outlook and smile … Read moreAll is not well is the byword as Shaktikanta gives India ‘Panglossian’

Shaktikanta Das cautions against cherry-picking of data by experts

Reserve Bank Governor Shaktikanta Das Friday cautioned against cherry-picking of data by experts, saying correlations can conveniently be used to establish “spurious causality” to achieve desired results. His remarks come in the backdrop of recent controversies over GDP data after former Chief Economic Adviser Arvind Subramanian in a research paper claimed that India has over-estimated … Read moreShaktikanta Das cautions against cherry-picking of data by experts

RBI MPC minutes: Slowing growth, tamed inflation prompted rate cut

RBI

Members of the monetary policy committee (MPC) were concerned about slowing growth, while being sure about inflation remaining under control in the coming year, which opened up room for a cut. The Reserve Bank of India (RBI) cut its policy rate by 25 basis points on June 6, bringing the repo rate to 5.75 per … Read moreRBI MPC minutes: Slowing growth, tamed inflation prompted rate cut

Need to relook at regulation and supervision of NBFCs: RBI Governor

The Reserve Bank of India Governor Shaktikanta Das has said that there is a need to relook at the regulation and supervision of non-bank lenders especially in light of the liquidity crisis the sector faced since systematically important shadow lender IL&FS collapsed last year. The regulator was working towards an optimal level of regulatory controls … Read moreNeed to relook at regulation and supervision of NBFCs: RBI Governor

Rate change in multiples of 25 bps not sacrosanct: RBI governor

RBI Governor Shaktikanta Das

Reserve Bank of India (RBI) Governor Shaktikanta Das has asked central banks across the world to think “out of the box” and suggested, for example, that changing policy rates by 25 basis points (bps) or multiples thereof is “not sacrosanct and just a convention”. He said monetary policy could be well served by calibrating the … Read moreRate change in multiples of 25 bps not sacrosanct: RBI governor

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