RBI could extend incremental CRR to rein in liquidity

RBI could extend incremental CRR to rein in liquidity

The Reserve Bank of India (RBI) may extend the temporary incremental cash reserve ratio (CRR) it imposed on banks last week as the monetary authority is seen training its sights on liquidity management to tackle inflation rather than lifting benchmark policy rates to tame wild jumps in food prices. Consumer Price Index (CPI) inflation surged … Read more

RBI to give banks more time to implement ECL-based provisioning

RBI to give banks more time to implement ECL-based provisioning

Reserve Bank of India (RBI) will give banks enough time to comply with its expected credit loss (ECL) based approach for provisioning and is not planning to implement it anytime soon, senior officials from the central bank said. “We have received comments from stakeholders which are being evaluated. Some more work is to be done. … Read more

India can look for another year of solid economic performance: CEA V Anantha Nageswaran

India can look for another year of solid economic performance: CEA V Anantha Nageswaran

Enthused by higher than expected GDP number in the fourth quarter of FY23, Chief Economic Adviser V Anantha Nageswaran on Wednesday said India can look for another year of solid economic performance. India’s economy grew by 6.1 per cent in the January-March quarter of 2022-23, pushing the annual growth rate to 7.2 per cent on … Read more

India’s economy grew faster at 5.1% in Q4: Economists

India’s economy grew faster at 5.1% in Q4: Economists

India‘s economy likely grew better than expected in the March quarter of FY23, which could push full fiscal year growth higher than January’s 7% first advance estimate. An ET poll of 20 economists pegged growth in the January-March period in the 4.1-5.7% range with the median at 5.1%, higher than the 4.4% recorded in the … Read more

Morning Digest | No need to make a dash for ₹2,000 swaps, says RBI Governor Shaktikanta Das; wrestlers accept Brij Bhushan’s demand for a narco test under SC supervision, and more

Morning Digest | No need to make a dash for ₹2,000 swaps, says RBI Governor Shaktikanta Das; wrestlers accept Brij Bhushan’s demand for a narco test under SC supervision, and more

Reserve Bank of India Governor Shaktikanta Das speaks to the media on the withdrawal of ₹2000 currency notes by RBI, in New Delhi on May 22. | Photo Credit: ANI Kilo-class submarine  INS Sindhuratna reaches India after major refit in Russia The Navy’s Kilo-class submarine INS Sindhuratna which underwent a major upgrade in Russia reached Mumbai … Read more

FSDC for a special drive to help people get unclaimed deposits

FSDC for a special drive to help people get unclaimed deposits

High-powered Financial Stability and Development Council (FSDC) headed by Finance Minister Nirmala Sitharaman on Monday underlined the need of launching a drive to help people get their unclaimed deposits in banks and other financial institutions. Briefing reporters about the discussions in the meeting, Economic Affairs Secretary Ajay Seth also said there is no spillover effect … Read more

India’s forex reserves up $6.31 billion to $584.76 billion, at 9-month high

India’s forex reserves up $6.31 billion to $584.76 billion, at 9-month high

India‘s forex reserves jumped by USD 6.3 billion to USD 584. 755 billion for the week ended April 7, the RBI said on Friday. In the last reporting week, the forex kitty snapped a two-week rising trend to decline by USD 329 million to 578.45 billion. Foreign Currency Assets increased by USD 4.740 billion to … Read more

India’s March retail inflation eases below RBI’s upper tolerance level

India’s March retail inflation eases below RBI’s upper tolerance level

India’s annual retail inflation for March eased below the central bank‘s upper tolerance level for the first time this year, as food prices softened. Annual retail inflation eased to 5.66% in March from 6.44% in the previous month, government data showed on Wednesday. The Reserve Bank of India targets a range of 2%-6%. A Reuters … Read more

Bank stocks rejoice RBI’s pause on rate hikes; should investors join the party?

Bank stocks rejoice RBI’s pause on rate hikes; should investors join the party?

The unexpected move by the Reserve Bank of India (RBI) to leave interest rates unchanged bolstered Dalal Street bulls who were reeling under the global economic and financial uncertainties. The Nifty Bank outperformed Nifty50 and moved past the 41,200-mark. The banking sector gauge rose for the 7th straight session, and this is the longest winning … Read more

RBI could announce another repo rate hike on April 6 to manage inflation

RBI could announce another repo rate hike on April 6 to manage inflation

The Reserve Bank of India is likely to announce another rate hike on Thursday, following the bi-monthly review of its monetary policy. RBI Governor Shaktikanta Das is set to address the press at noon tomorrow, with the Monetary Policy Committee having met on April 3 and April 5, with one more day of deliberation set … Read more