Reserve Bank will have to constantly re-assess the "dynamic and fast changing situation" and tailor its actions accordingly, Governor Shaktikanta Das said during the recent meeting of the Monetary Policy Committee (MPC) which decided to maintain status quo on key interest rate. According to the minutes of the six-member MPC meet released by Reserve Bank of India (RBI) on Friday, the five other members had also expressed a similar opinion amid the ongoing Russia-Ukraine conflict's impact on the global and domestic economies. MPC, which held its meeting from April 6-8, unanimously decided to keep the borrowing costs unchanged at a record low for the 11th time in a row in a bid to continue supporting economic growth despite inflation edging higher in the aftermath of Russia-Ukraine conflict.
A Trinamool Congress delegation met the Election Commission (EC) on Friday and demanded a high-level probe into an alleged attack on West Bengal Chief Minister Mamata Banerjee in Nandigram and claimed it was not an 'unfortunate incident', but a conspiracy.
The Reserve Bank will hold a special meeting of its rate-setting committee on November 3 to prepare a report for the government on why it failed to keep retail inflation below the target of 6 per cent for three consecutive quarters since January. The six-member Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das will prepare the report on reasons for failure to meet the inflation target as well as the remedial measures the central bank is taking to bring down prices in the country. "Under the provisions of Section 45ZN of the Reserve Bank of India (RBI) Act 1934... an additional meeting of the MPC is being scheduled on November 3, 2022," RBI said in a statement on Thursday.
The Reserve Bank of India (RBI) will maintain the policy repo rate at 6.5 per cent during its upcoming June 8 announcement, considering the easing of retail inflation in April and the potential for further decline, indicating the effectiveness of previous policy rate actions, anticipate experts. Headed by Reserve Bank Governor Shaktikanta Das, a meeting of the six-member Monetary Policy Committee (MPC) is scheduled for June 6-8. The decision of the 43rd meeting of the MPC would be announced on Thursday, June 8.
The RBI's Monetary Policy Committee brainstormed the impact of any future shocks on the inflation trajectory and stressed monitoring the cumulative effect of monetary policy actions over the past one year, which is still unfolding, revealed minutes of the rate-setting panel released on Thursday. The minutes of the meeting of the Monetary Policy Committee (MPC), headed by Reserve Bank Governor Shaktikanta Das, also indicated it would be premature to declare an end to the monetary tightening cycle, which started in May 2022 to check high inflation following the outbreak of the Russia-Ukraine war. The central bank, which effected six back-to-back hikes in the key short-term lending rate (repo) since May 2022 to check high inflation, decided to take a pause early this month.
Dinesh Karthik hit a quickfire half-century as Tamil Nadu overcame a jittery start to down Baroda by 38 runs.
Saha took a decision to leave Bengal after CAB joint secretary Debabrata Das alleged that the veteran keeper makes excuses to skip domestic matches for the state.
A summary of the day's matches in the Syed Mushtaq Ali Trophy T20 tournament.
Uncertainty is emerging as the only certainty, said RBI Governor Shaktikanta Das as he emphasised on continued policy support at the December MPC meet during which members expressed concerns over spread of the Omicron variant of coronavirus, as per the minutes of the rate-setting panel released on Wednesday. After three days of deliberations, the six members of the Monetary Policy Committee (MPC) on December 8 unanimously voted for status quo on policy rates for the ninth consecutive time. At the meeting, the RBI Governor said risks stalking the global economy have amplified with rapid spread of the virus mutations, including the Omicron variant, leading to countries scrambling for restrictions.
India's economic growth is estimated to have slowed down to 11-year low of 5 per cent during the current financial year ending March 2020.
Veteran spinner and Railways captain Murali Kartik was embroiled in a controversy once again after he was warned by the umpires for some "issues" with the ball in an acrimonious day three of their Ranji Trophy quarter-final match against Bengal.
An Indian PhD student's daughter who braved odds by doing cleaning jobs in a hospital to finance her studies in the UK has been awarded the prestigious VQ Learner of the Year Award.
All members of the Monetary Policy Committee (MPC) -- Shashanka Bhide, Ashima Goyal, Jayanth R Varma, Mridul K Saggar, Michael Debabrata Patra and Shaktikanta Das -- had unanimously voted to keep the policy repo rate unchanged at 4 per cent after the three-day meet of the panel earlier this month. Further, except Varma, other members voted to continue with the accommodative stance as long as necessary to revive and sustain growth on a durable basis and continue to mitigate the impact of COVID-19 on the economy, while ensuring that inflation remains within the target going forward. Varma expressed reservations on this part of the MPC resolution, according to the minutes.
'There are some high-frequency indicators where uptick is visible and some where it is not'
The national football players are providing the needy, in their respective localities, monetary aid and food items, besides setting up camps and spreading awareness about social distancing.
Amid prolonged uncertainty, continued policy support will be crucial for sustained economic recovery from the coronavirus pandemic, Reserve Bank Governor Shaktikanta Das said at the recent meeting of the Monetary Policy Committee. "In this period of prolonged uncertainty, it would be wise to remain agile and respond in a gradual, calibrated and well telegraphed manner to the emerging challenges," opined Das, according to the minutes of the MPC meeting released by the Reserve Bank on Thursday. Observing that economic recovery from the pandemic remains incomplete and uneven, he said, "continued support from various policies remains crucial for a sustained recovery." The governor said the renewed surge in international crude oil prices, however, requires close monitoring.
Although there is headroom for further monetary policy action, at this juncture it is important to keep our arsenal dry and use it judiciously: RBI's Das.
Nagaland's scorecard resembled a telephone number, 0, 7, 0, 0, 0, 1, 0, 7, 10, 0 and 0 not out as they crashed for 25 against Uttarakhand.
Reserve Bank Governor Shaktikanta Das has pitched for policy support from all sides -- fiscal, monetary and sectoral -- to nurture recovery of the economy hit by the second wave of the coronavirus pandemic. The dent on economic activity due to the second wave of the pandemic during April-May necessitated continuation of monetary measures to support the process of economic recovery to make it durable, Das had said while participating in the meeting of the Monetary Policy Committee (MPC) earlier in the month. "Overall, the second wave of COVID-19 has altered the near-term outlook, and policy support from all sides - fiscal, monetary and sectoral - is required to nurture recovery and expedite return to normalcy," Das said, as per the minutes of the meeting released on Friday.
All-out efforts are needed to mitigate the adverse impact of the Covid-19 pandemic, and the RBI will use any instrument necessary to revive growth and preserve financial stability, according to the minutes of the central bank's policy meeting.
>The BJP's star campaigner could not help even half the number of candidates for whom he campaigned in his aggressive 'Didi-o-Didi' style in Bengal
RBI said at the current juncture, the all-out effort is to maintain and sustain, with the hope that when life is secure, resources, energy and time can be marshalled to rebuild and revive.
FC Goa's chief coach Zico will arrive in the state on July 6 to take stock of all new signings.
The Reserve Bank on Friday approved the transfer of Rs 99,122 crore as surplus to the central government for the accounting period of nine months ended March 31.
The fourth consecutive rate cut is expected to lower equated monthly instalments (EMIs) for home and auto buyers, and borrowing cost for corporate.
Fresh from his exploits in Mumbai's maiden Syed Mushtaq Ali T20 triumph, Kotian got down to business after his pace colleagues Tushar Desphande (2/23) and Mohit Avasthi (1/29) handed Bengal early blows.
A summary of the final day's play in the Ranji Trophy matches across the country.
In a video of the incident circulated on social media, the two men can be heard begging for their lives and trying to explain to the livid crowd that they were innocent but to no avail.
Patra, as executive director of the central bank, was the principal advisor to the Monetary Policy Department since July 2012.
Given the pressure from India Inc and the banking fraternity, it is surmised that the portfolio rejig will take place before April.
The CAB president's post was lying vacant after former India captain Sourav Ganguly took over the reins of the BCCI.
In the Sensex pack, Sun Pharma was the biggest gainer, rallying 4.48 per cent, followed by Bajaj Auto, Tata Motors, Coal India, Hero MotoCorp, Maruti and HCL Tech, rising up to 3.01 per cent. While, RIL, PowerGrid, HDFC, L&T, IndusInd Bank, NTPC and Bajaj Finance declined up to 1.50 per cent.
A round-up of Ranji matches played on Saturday.
A round-up of Ranji matches played on Friday.
Atletico de Kolkata got their act right in the nick of time to humble crowd favourites FC Goa 4-2 in tie-breaker and advance to the final of the inaugural Indian Super League. Kolkata will lock horns with Kerala Blasters FC in the summit showdown at the D Y Patil Stadium in Mumbai on Saturday.
Stiven Mendoza scored the first hat-trick of the tournament as Chennaiyin FC thrashed FC Goa 4-0 in a third round match of Indian Super League football in Margao on Sunday.
A look at the squads for the seventh season of the Indian Premier League at the conclusion of the two-day auction in Bangalore.
IPL Action VIII: These players went unsold
Indian boxer Pavitra (60kg) advanced to the quarter-finals of the Asian Games after out-classing Pakistan's Rukhsana Perveen in a bout that did not go beyond the opening round, in Jakarta, on Saturday.
A round-up of all the Ranji Trophy matches played on Monday.
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