An outspoken member in India’s rate-setting body has criticized the central bank for being non-transparent about its policy intent and confusing the public with technicalities. “The monetary policy committee should not be content with communicating to an ‘inside’ audience of regulated entities in a coded language, but should endeavor to communicate with the general public … Read more
RBI’s Monetary Policy Committee (MPC) hiked the benchmark policy rate (repo rate) by 35 bps to 6.25%. 5 out of 6 MPC members voted in favour of hiking the Repo rate by 35 bps while 1 member voted against the repo rate hike. The marginal standing facility (MSF) rate and the Standing Deposit Facility (SDF) … Read more
The Indian economy could take more than a decade to “overcome the losses” caused by Covid 19 disruptions, the latest report on currency and finance released by the Reserve Bank of India has suggested. The report has also projected that India lost more than a whopping Rs 50 lakh crore in output in the last … Read more
The Punjab government on Thursday said the RBI extended the cash credit limit (CCL) for the ongoing wheat procurement from the state. The Reserve Bank of India (RBI) extended the CCL of Rs 3,378.15 crore till the end of May. With this, the sanctioned limit of Rs 24,773.11 crore for April-end has been enhanced to … Read more
Despite spiralling inflation, the Reserve Bank is likely to hold all key rates and retain the accommodative stance at the forthcoming policy review later this week, a Wall Street brokerage has said. Bank of America Securities India in a pre-policy note on Monday said it expects the RBI-MPC to stay on hold on all rates … Read more
NEW DELHI: A common feature of the weeks before the last two monetary policy statements by the Reserve Bank of India is an increase in communication –both official and unofficial- by central bank officials including Governor Shaktikanta Das. There are exactly three weeks to give before the Monetary Policy Committee’s next statement on Dec 8 … Read more
The RBI said that an analysis of practices followed by the lenders has brought out certain supervisory concerns Concerned over frequent changes in loan facility to businesses, the Reserve Bank on Friday asked all the lenders, including urban cooperative banks and small finance banks, to avoid repeated ad hoc and short review of credit facilities … Read more