Reserve Bank of India Governor D Subbarao on Tuesday said that unwinding of excess liquidity would need to be carefully calibrated once the economy recovered.Comparing the RBI's steps with other central banks, Subbarao said the speed and scale of monetary response was more aggressive than many other countries.The RBI has lowered the repo rate, the rate at which it lends to banks, from a peak of 9 per cent to 5.5 per cent in less than five months.
Interview with the Governor of Reserve Bank of India.
It's affecting deposits, too.
Reserve Bank Governor Shaktikanta Das on Wednesday said in the wake of appreciating US dollar, the movement of rupee has remained least disruptive as compared to its peers, and the size of foreign exchange reserve is comfortable. On a financial year basis (from April to October 2022), the rupee has appreciated by 3.2 per cent in real terms, even as several major currencies have depreciated, he said while announcing the latest set of bi-monthly monetary policy. "The story of the rupee has been one of India's resilience and stability," the Governor said while pointing out that the appreciation of the US dollar this year, which precipitated large-scale depreciation of all major global currencies including the Indian rupee, has drawn wide attention.
The Reserve Bank of India on Thursday asked banks to review their loan policy towards micro, small and medium enterprises (MSMEs), badly hit by the economic slowdown.
The rupee was at 62.08/12 versus Thursday's close of 61.77/78.
Bharatiya Janata Party's prime ministerial candidate Narendra Modi is the most talked about person on Facebook in India beating likes of cricketing legend Sachin Tendulkar and Apple iconic device iPhone 5s, the US-based social networking site said on Monday.
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At the retreat, PSBs had suggested the government cut its stake in these entities to less than 51 per cent over a period of time and empower the boards of individual banks.
The Bank Economists' Conference -- the most important event in Indian banking -- gets underway in Bangalore on Friday.
Rajan has a great track record abroad.
All six members of the Reserve Bank of India's (RBI's) monetary policy committee (MPC) expressed caution over food inflation during the December review, while two external members warned about high real interest rates as headline inflation approaches its target of 4 per cent. The central bank continued to maintain the status quo on both the repo rate and the stance in the December monetary policy. India's retail inflation in November rose to 5.5 per cent - its fastest pace in three months - due to higher food prices.
Pilot was there at the right place at the right time to take home the Bill.
Reserve Bank of India governor Y V Reddy defended his decision to keep the rates unchanged by saying that all stakeholders should pay an uncertainty premia during uncertain times.
The central bank, however, would prefer money supply in deficit mode.
Currently, there is no regulation or any ban on the use of cryptocurrencies in the country.
'It is sad for the country and it is sad for the government of the country too,' says the Nobel Laureate.
The Reserve Bank of India Governor D Subbarao has exhorted the apex bank's staff in his New Year message to convert present crisis into an opportunity, while maintaining that the crisis will be deeper and prolonged.
Human resource, or HR, development is one of the key portfolios that K C Chakrabarty handles as the Reserve Bank of India (RBI) deputy governor.
November 8 marks 6 years after demonetisation. A K Bhattacharya reveals how the prime minister and the RBI worked together for months before Modi's 8 pm speech. A riveting excerpt from The Rise Of Goliath: Twelve Disruptions That Changed India.
Finance Minister Pranab Mukherjee sought to soothe the frayed nerves of India's financial regulators by saying the government would not undermine their autonomy. Mukherjee's assurance came a day after Reserve Bank of India Governor D Subbarao went public with his "concerns" over dilution of the central bank's role in dealing with inter-regulatory disputes in the Ordinance issued last month.
The Reserve Bank of India has been actively doing OMOs or buyback of government bonds to manage liquidity in the system over the last few months.
If 2012 was a year that saw Indian bourses scripting a dramatic turnaround after the meltdown, 2013 was marked by consolidation in the first half and a new found optimism by market participants in the second half.
The Reserve Bank of India's rate-setting panel on Wednesday began its three-day deliberations on the next bi-monthly monetary policy amid expectations of at least a 35-basis-point hike in the interest rate to check high inflation. If raised, it will be the third consecutive hike in the repo rate -- the short-term rate at which the RBI lends money to banks. The central bank has already announced to gradually withdraw its accommodative monetary policy stance.
The Sensex fell nearly 2 per cent on Friday after a surprise rate hike by the RBI led to a slide in rate-sensitives like banking and auto shares.
Rajan said that despite easy liquidity, banks have passed rate cuts into lending rates modestly.
The Reserve Bank of India on Tuesday cut the bank rate by 0.25 per cent to 6 per cent with effect from close of business hours.
'One by one we are seeing these private banks taking people's money and mismanaging it.' 'In the last 30 years, 30 private banks have collapsed.' 'Nationalise all banks so that people's money is safe.'
Subbarao's annual statement will be of unusual interest this year
Indian bond yields fell on Friday after Rajan's remarks, showing the level of concern about high inflation and investors' anticipation that the RBI will continue efforts to stabilise the economy.
'Should the government be in the business of running banks?' 'Particularly when it does not have the fiscal strength to continuously infuse capital into such banks?'
Heading to the third year, will Urjit Patel be busy firefighting a currency crisis? Almost no governor of the RBI managed to evade it and Patel perhaps knows it.
The elevated realty prices along with non-transparency in the real estate sector may lead to an 'asset bubble' and pose risks to the banking system, according to Reserve Bank of India Deputy Governor Rakesh Mohan.
Rajan's comment comes against the backdrop of certain BJP leaders questioning his policies to deal with the current economic woes.
These cash shortages increase banks' funding costs, making it harder for them to lower lending rates
If true then it would be a major disruption in the industry
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
Nowadays, our politics is habituated to sitting on a high pedestal, hobnobbing with world leaders, generating impressions of a superpower and returning to earth for the purpose of winning elections. In contrast, the yatra never left earth, observes Shyam G Menon.
Economic activity has regained momentum from late-May after the dent caused by the second wave of COVID-19, and the pandemic's impact on the overall asset quality has been less than expected, Reserve Bank Governor Shaktikanta Das said on Thursday. However, Das flagged rising data breaches and cyber-attacks as among the risks for the recovering economy, along with others like firming global commodity prices. The governor also said the second wave had a "grievous toll" on the country.
Reserve Bank of India Governor D Subbarao on Friday said he cannot speculate on when he will start cutting policy rates, but assured that the central bank will ensure that there is enough liquidity in the system by conducting open market operations.
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