{
Reserve Bank of India

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RBI Holds Rates Steady Amid Inflation Concerns and Economic Growth Pressures
The Reserve Bank of India (RBI) has maintained key interest rates at 6.5% for the eleventh consecutive time, prioritizing inflation control over economic growth. Despite government pressure to stimulate growth, the RBI lowered the cash reserve ratio to 4% to enhance liquidity. Governor Shaktikanta Das hinted at a potential rate cut in the upcoming February review, anticipating a decline in inflation during the January-March quarter.
Moneycontrol
United States Dollar Reserve Bank of India IND Shaktikanta Das
Finance & Economy, Market Report
05:23 09.12.2024
Sovereign Gold Bond Scheme Set to End by 2025-26 Amid Fiscal Concerns
The Sovereign Gold Bond scheme, launched in 2015 to reduce physical gold imports, is expected to be discontinued in the 2025-26 financial year as the government aims to lower its debt-to-GDP ratio. A senior official indicated that the scheme has "outlived its purpose," adding to fiscal burdens due to repayment obligations and interest payments. Finance Minister Nirmala Sitharaman is set to detail the debt reduction strategy in the upcoming FY26 Budget, with projections showing a decline in the debt-to-GDP ratio from 58.2% in FY24 to 56.8% in FY25.
Moneycontrol
Reserve Bank of India IND Nirmala Sitharaman
Finance & Economy, Market Report
04:58 09.12.2024
RBI Deputy Governor Calls for Enforceable Code of Conduct for Creditors
Reserve Bank Deputy Governor M Rajeshwar Rao has called for an enforceable code of conduct for the Committee of Creditors (CoC) involved in the insolvency resolution process. He highlighted the need for significant improvements in CoC's performance, despite the Insolvency and Bankruptcy Code (IBC) gaining traction since its introduction in 2016. Rao's remarks came during a conference in the national capital, where he noted the CoC's crucial role in corporate insolvency resolution.
Moneycontrol
Reserve Bank of India IND S. Rajeswara Rao
Regulatory & Legal, News Article
11:54 07.12.2024
Reserve Bank of India Maintains Monetary Policy Amid Global Uncertainties
The Reserve Bank of India's Monetary Policy Committee opted to maintain its current stance amid global uncertainties, emphasizing price stability's importance for household purchasing power while acknowledging potential growth slowdown. Revised projections indicate a downward adjustment in GDP growth for FY25 to 6.6%, with inflation expectations rising to 4.8%. Authorities remain optimistic about growth trends, anticipating a rebound in the first half of FY26, supported by favorable agricultural conditions.
Moneycontrol
United States Dollar Indian Rupee Reserve Bank of India IND
Finance & Economy, Market Report
05:02 07.12.2024
Economists Urge Shift from Revenue Maximisation to Economic Growth in Budget Meeting
Economists urged Finance Minister Nirmala Sitharaman to shift focus from revenue maximisation to fostering economic growth during a pre-budget meeting on December 6. They called for a reassessment of fiscal consolidation and taxation policies, particularly the capital gains tax and GST, to better support long-term growth amid a slowing economy. India's GDP growth for Q2 was reported at 5.4%, prompting the Reserve Bank of India to lower its growth forecast to 6.6%.
Moneycontrol
United States Dollar Reserve Bank of India IND Nirmala Sitharaman
Finance & Economy, News Article
14:58 06.12.2024
Indian Households Anticipate Fluctuating Inflation Over Next Year
Indian households anticipate fluctuating inflation over the next year, as indicated by Reserve Bank of India surveys. Current inflation perceptions have increased by 30 basis points, with expectations for a slight moderation in three months, followed by a projected rise of 10 basis points in one year.
bloomberg.com
Reserve Bank of India IND
Finance & Economy, Market Report
13:54 06.12.2024
RBI Increases Interest Rate Ceiling for FCNR-B Deposits to Attract Forex Inflows
The Reserve Bank of India (RBI) has raised the interest rate ceiling for foreign currency non-resident (FCNR-B) deposits to attract more forex inflows as the rupee faces pressure. NRIs can now open term deposit accounts in foreign currencies without exchange rate risk. The new rates apply to deposits with maturities between 1 and less than 3 years, capped at the relevant reference rate plus 400 basis points.
Moneycontrol
United States Dollar Indian Rupee Reserve Bank of India IND Shaktikanta Das
Finance & Economy, Market Report
13:38 06.12.2024
RBI Cuts CRR to Enhance Liquidity Amid Foreign Investor Outflows
A cut in the cash reserve ratio (CRR) by the Reserve Bank of India is anticipated to inject Rs 1.16 lakh crore into the banking system, enhancing liquidity amid expected outflows due to GST and advance payments. This move aims to mitigate the impact of foreign investor withdrawals on the Indian rupee, reducing volatility and supporting overall banking liquidity. The reduction will occur in two phases, starting December 14 and December 28, 2024.
Moneycontrol
United States Dollar Indian Rupee Reserve Bank of India IND
Finance & Economy, Market Report
12:54 06.12.2024
Indian Markets Close Flat as RBI Maintains Repo Rate and Cuts CRR
Indian benchmark indices closed with slight losses on December 6, with the Sensex down 56.74 points at 81,709.12 and the Nifty down 30.60 points at 24,677.80. The Reserve Bank of India maintained the repo rate at 6.5 percent for the 11th consecutive time but announced a 50 bps cut in the Cash Reserve Ratio to enhance banking liquidity.
Moneycontrol
Indian Rupee Reserve Bank of India IND Show more
Finance & Economy, Market Report
11:27 06.12.2024
RBI Cuts Cash Reserve Ratio to Boost Liquidity Amid Economic Challenges
Shaktikanta Das has announced a cut in the cash reserve ratio (CRR) to enhance liquidity for investors, opting for this measure over a rate cut amid rising retail inflation and low GDP growth. This approach aims to maintain stability while addressing economic challenges without compromising inflation targets.
Moneycontrol
Indian Rupee Reserve Bank of India IND Shaktikanta Das Dinesh Unnikrishnan
Finance & Economy, Market Report
10:05 06.12.2024
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