Reserve Bank Governor Shaktikanta Das on Monday said lower government borrowings than the market estimates will free more capital for the private sector resulting in easing of inflation and bolstering growth. “This year’s borrowing is lower than what initially the markets had expected. Lower quantum of borrowing means…it would ensure that much more resources will … Read more
India‘s current account deficit widened to 4.4 per cent of the GDP in the quarter that ended September, from 2.2 per cent GDP during the April-June period, due to higher trade gap, as per data released by the Reserve Bank. “India’s current account balance recorded a deficit of USD 36.4 billion (4.4 per cent of … Read more
New Delhi: Foreign investors continue to desert Indian equity markets and pulled out close to Rs 46,000 crore so far this month following monetary policy tightening by the Reserve Bank and US Federal Reserve, high oil prices and volatile rupee. The net outflow by foreign portfolio investors (FPIs) from equities reached Rs 2.13 lakh crore … Read more
Industry body Assocham on Thursday said the Reserve Bank‘s decision to raise the benchmark lending rate by 50 basis points to 4.9 per cent will help the Indian economy in the medium term. The central bank on Wednesday raised the repo rate for the second time in five weeks. Earlier, it had raised the short … Read more
The Central Board of Directors of the RBI has approved a transfer of Rs 30,307 crore as surplus to the Centre for the accounting year 2021-22. The contingency risk buffer has been kept at 5.5%. The Board in its meeting reviewed the current economic situation, global and domestic challenges and the impact of recent geopolitical … Read more
A sharp spike in prices of steel and cement coupled with a rise in wages will likely push up the cost of key government-funded infrastructure projects in highways, railways and low-cost housing sectors. Officials in the ministries of housing and urban affairs and road transport and highways said contractors had approached the respective ministries to … Read more
Seeking to address concerns over the deep haircuts taken by banks in some of the insolvency resolutions, Reserve Bank Deputy Governor M Rajeshwar Rao on Saturday said comparing the outstanding loan amounts with the value realised may not be a ‘reasonable indicator’ to assess the bankruptcy law’s effectiveness. Admitting that there have been concerns, Rao … Read more
The Reserve Bank of India (RBI) is likely to keep key policy rates, including repo and reverse repo rates, unchanged in its monetary policy review to be announced on Thursday in the backdrop of Union Budget 2022-23 and growing inflationary concerns. The six-member Monetary Policy Committee headed by Reserve Bank of India Governor Shaktikanta Das … Read more
The Reserve Bank of India has proposed a new investment category called Fair Value through Profit and Loss Account (FVTPL) for banks as part of a overhaul of classification, valuation and operations of banks’ investment portfolios. In a discussion paper RBI said banks’ held for trading (HFT) portfolio will be housed within the nee FVTPL … Read more
Former RBI Deputy Governor N S Vishwanathan on Wednesday said money laundering and lack of clarity on valuations are the primary concerns of central banks in being circumspect about the introduction of cryptocurrencies. If the government goes ahead and allows cryptocurrencies, bankers need to be wary and not confuse persons’ wealth with the amount of … Read more