View: Why MPC should tread cautiously on key policy decisions

A day after Friday’s monetary policy announcement, the Times of India headline read: ‘RBI cuts repo rate to a 9-year low, growth estimate to a 7-year low.’ Put simply, what that means is that the Reserve Bank of India (RBI) has thrown everything, bar the kitchen sink, at the economy in a bid to get … Read moreView: Why MPC should tread cautiously on key policy decisions

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

How Shaktikanta Das tackled five uncomfortable questions

At the press briefing that followed today’s monetary policy meet, RBI Governor Shaktikanta Das took questions from various media houses wherein he tackled a host of uncomfortable issues. Here are the top questions that assume significance in the backdrop of the current economic slump: The most important question The cut in FY20 real GDP growth … Read moreHow Shaktikanta Das tackled five uncomfortable questions

RBI set to cut rates again as fiscal measures fail to cheer

MUMBAI: The Reserve Bank of India is expected to cut benchmark interest rates for the fifth time this year on Friday as recent fiscal measures to boost ailing growth seem largely inadequate and benign inflation offers room for more easing. The RBI is predicted to lower its key lending rate or the repo rate by … Read moreRBI set to cut rates again as fiscal measures fail to cheer

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

A year after IL&FS collapse: Debt, destruction and dithering

Ganesh Utsav, Mumbai’s main festival and forerunner of hope for the business community, didn’t bring much cheer to top bosses at India’s biggest infrastructure financier last year. On the eve of the 10-day festival on September 12, the then VC and MD of Infrastructure Leasing & Financial Services (IL&FS), Hari Sankaran, was busy in meetings … Read moreA year after IL&FS collapse: Debt, destruction and dithering

From ‘Panglossian countenance’ to ‘Floccinaucinihilipilification’, RBI reinvents Greenspeak

Whether it is in employing one of the longest English words or recalling a character in French philosopher Voltaire’s novel in order to cheer an otherwise gloomy economic countenance, the RBI’s messaging between continuous rate cuts is leaving central bank observers scurrying for their dictionaries. The Mint Road mavens, from RBI chief Shaktikanta Das to … Read moreFrom ‘Panglossian countenance’ to ‘Floccinaucinihilipilification’, RBI reinvents Greenspeak

Hours after RBI call, Axis Bank says linking loans to repo rate is not the only way for faster transmission

MUMBAI: Even as governor Shaktikanta Das pitched for a system-wide adoption of repo-linked pricing of loans and deposits, private sector lender Axis Bank Monday said it is not the only measure for better transmission of central bank’s policy moves. The third-largest private sector lender’s executive director for corporate lending Rajiv Anand blamed liquidity issues prevented … Read moreHours after RBI call, Axis Bank says linking loans to repo rate is not the only way for faster transmission

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’

View: Short-term measures to pull economy out of crisis

By Ajay Chhibber In his August 12 interview to ET (bit.do/e4AcL), Prime Minister Narendra Modi reiterated his pro-growth, pro-investor intent. But despite some important reforms like goods and services tax (GST), Insolvency and Bankruptcy Code (IBC), foreign direct investment (FDI) liberalisation, and better ease of doing business and infrastructure, the overall impression of his first … Read moreView: Short-term measures to pull economy out of crisis

RBI will have to do more heavy-lifting for economy to even clip at 6.9%: Analysts

Describing the lower GDP forecast of 6.9 percent as “optimistic”, analysts have opined that the Reserve Bank will have to undertake more rate cuts in the near future to help the economy. In an unprecedented move, the central bank Wednesday slashed the repo rate by a 35 bps to 5.4 percent, which is a nine-year … Read moreRBI will have to do more heavy-lifting for economy to even clip at 6.9%: Analysts

Shaktikanta Das says banks so far passed on only 29 bps of RBI 75 bps cuts

MUMBAI: Banks have passed on only a little more than a third of the benefits they have accrued so far from the past three successive rates reductions of 75 bps by the Reserve Bank to the borrowers, governor Shaktikanta Das Wednesday said urging them to do more. Lowering the cost of borrowing can help prop … Read moreShaktikanta Das says banks so far passed on only 29 bps of RBI 75 bps cuts

RBI For Strengthening Forex Reserves By Emerging Economies

Expressing concern over the impact of stressed trade negotiations, rising geo-political tensions and high debt levels of several economies, Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday backed the building up of forex reserves by emerging economies to protect against global contagion. Speaking at the book launch of “India’s Relations with the International … Read moreRBI For Strengthening Forex Reserves By Emerging Economies

RBI launches medium-term strategy framework Utkarsh 2022

RBI Governor Shaktikanta Das on Tuesday launched Utkarsh 2022, the central banks’ medium– term strategy framework, in line with evolving macro-economic environment, said an official release. The framework has been launched to achieve excellence in the performance of RBI‘s mandates and strengthening the trust of citizens and other institutions. The Reserve Bank of India said … Read moreRBI launches medium-term strategy framework Utkarsh 2022

Accommodative policy means rate hike’s off table, says RBI Governor Shaktikanta Das

Reserve Bank of India (RBI) governor Shaktikanta Das spoke to Deepshikha Sikarwar and MC Govardhana Rangan about his vision for the financial sector, the economy and how he intends to steer one of the country’s most important institutions. Edited excerpts: The July 5 budget is behind us with the government doing what it could with … Read moreAccommodative policy means rate hike’s off table, says RBI Governor Shaktikanta Das

SBI takes first cue from RBI governor, lowers lending rates by 5 bps

MUMBAI: A day after Reserve Bank governor Shaktikanta Das said he expects faster transmission of the three successive repo rate cuts, State Bank lowered its lending rates by 5 basis points across all tenors. The new rates, effective Wednesday, is the third reduction by SBI in this financial year havng cut the rates by 5 … Read moreSBI takes first cue from RBI governor, lowers lending rates by 5 bps

Economic activity clearly losing traction: Shaktikanta Das said at MPC meet

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MUMBAI: The Indian economy has been clearly losing traction and needs a decisive monetary policy to promote growth, said Reserve Bank of India Governor Shaktikanta Das while voting for a 25 basis points (bps) rate cut along with other five members at the MPC meet earlier this month. Das, as per the minutes of the … Read moreEconomic activity clearly losing traction: Shaktikanta Das said at MPC meet

View: Budget must outline more banking reforms

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Recently, RBI Governor Shaktikanta Das rightly underscored the need for governance reform in public sector banks that are reeling under bad loans. “It is important to enhance the quality and stability (in PSB boards) through further streamlining appointment process, succession planning and compensation. These aspects could be evaluated by bank boards and reviewed by the … Read moreView: Budget must outline more banking reforms

Top pvt sector banks cut interest rates on deposits by up to 0.25%

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Top private sector lenders have cut their interest rates on deposits by up to 0.25 per cent over the last week, officials said Monday. Generally, an interest rate cut in deposits is seen as a precursor to a lending rate cut. The moves by lenders including ICICI Bank and Axis Bank come amid easing liquidity … Read moreTop pvt sector banks cut interest rates on deposits by up to 0.25%

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