Shaktikanta Das

RBI Reviewing Monetary Policy Framework Change: Shaktikanta Das

Business | Indo-Asian News Service | Saturday February 15, 2020

"The monetary policy framework is in operation for the last three years. We are reviewing and analysing it internally as to how the MPC framework has worked. At an appropriate time, if required, we'll have discussion with the government," the RBI governor said at a media conference after he met the Finance Minister on the customary Budget briefing.

Budget Unlikely To Have Much Inflationary Impact: Shaktikanta Das

Business | Press Trust of India | Saturday February 15, 2020

"The direct inflationary impact of any budget is fiscal deficit number, when borrowing goes up, but the government has adhered to the principle of fiscal prudence. The ''escape clause'' under FRBM Act, the deficit number in the current year as well as the next year is very much within the parameters set as per FRBM committee recommendations," Mr Da...

Transmission Of Rate Cuts To Get Better, Says RBI Governor Shaktikanta Das

Business | Press Trust of India | Saturday February 15, 2020

Addressing the media after RBI board meeting, which was also addressed by Finance Minister Nirmala Sitharaman, Mr Das said he does not agree that rate cut transmission is plateauing out.

Long-Term Repos Aimed At Helping Banks Cut Lending Rates: Shaktikanta Das

Business | Press Trust of India | Thursday February 6, 2020

It can be noted that the longest repo that the RBI has so far done is of 56 days, while most of its either overnight or for a fortnight.

Contingency Plan Needed To Deal With Coronavirus Impact: Shaktikanta Das

Business | Press Trust of India | Thursday February 6, 2020

The coronavirus scare has affected air travel as several airlines across the world, including in India, have curtailed flight operations to China.

RBI Announces Incentives For Lending To Small Businesses, Housing, Auto Sectors

Business | Press Trust of India | Thursday February 6, 2020

"As a part of this, it has now been decided that scheduled commercial banks will be allowed to deduct the equivalent of incremental credit disbursed by them as retail loans for automobiles, residential housing and loans to micro, small and medium enterprises (MSMEs), over and above the outstanding level of credit to these segments as at the end of ...

RBI To Implement Pan-India Cheque Truncation System By September

Business | Press Trust of India | Thursday February 6, 2020

Observing that digital payments in the country have been growing rapidly, the RBI said it would make a digital payments index (DPI) available from July 2020.

RBI Has Many Other Tools To Revive Growth, Not Just Interest Rates: Shaktikanta Das

Business | Press Trust of India | Thursday February 6, 2020

The Reserve Bank of India (RBI) in its sixth bi-monthly monetary policy pegged GDP growth for FY21 at 6 per cent, but guided towards an uncertain inflation outlook.

RBI Keeps Lending Rate Unchanged At 5.15%, Pegs Growth At 6% In 2020-21

Business | Written by Sandeep Singh | Thursday February 6, 2020

The Reserve Bank of India (RBI) kept the repo rate unchanged at 5.15 per cent on Thursday, in line with economists' expectations, in a bid to combat inflation. The central bank, however, retained its accommodative monetary policy stance as growth remains lacklustre. RBI Governor Shaktikanta Das-led Monetary Policy Committee decided to continue with...

RBI Monetary Policy Highlights: Central Bank Holds Rates, Pegs 6% Growth In 2020-21

Business | Edited by Sandeep Singh | Thursday February 6, 2020

RBI Monetary Policy: The repo rate - or the interest rate at which the RBI lends short-term funds to commercial banks - was left steady at 5.15 per cent, the lowest level recorded in more than nine years.

Budget Done, Over To RBI. What To Expect From Decade's First Policy: 10 Things To Know

Business | Written by Sandeep Singh | Thursday February 6, 2020

The Reserve Bank of India (RBI) will release its sixth bi-monthly policy statement of current fiscal year at 11:45 am today, following a three-day meeting of its Monetary Policy Committee. The six-member Committee headed by RBI Governor Shaktikanta Das is widely expected to maintain the status quo on key lending rates, amid economic slowdown and co...

As Budget Falls Short, RBI May Focus On US-Style Operation Twist

Business | Anirban Nag, Bloomberg | Monday February 3, 2020

The fiscal plan -- delivered by Finance Minister Nirmala Sitharaman on Saturday -- proposed tax cuts for individuals and wider deficit targets, but failed to provide specific steps to fix a struggling financial sector, improve infrastructure and create jobs.

Shaktikanta Das Calls For More Structural Reforms To Revive Growth Ahead Of Budget

Business | Press Trust of India | Friday January 24, 2020

Structural reforms and fiscal measures may have to be continued and further activated to provide a durable push to demand, Shaktikanta Das said.

Government Appoints Career Central Banker Michael Patra As Deputy Governor

Business | Anirban Nag, Bloomberg | Tuesday January 14, 2020

A career central banker, 59-year-old Mr Patra is currently executive director in charge of the RBI's research department and has a seat on the six-member Monetary Policy Committee.

SBI Home Loans To Become Cheaper As Lender Lowers Benchmark Rate

Business | Indo-Asian News Service | Monday December 30, 2019

The RBI's Monetary Policy Committee (MPC) had cut the benchmark lending rate (repo rate) by 25 bps to 5.15 per cent in October. However, after five consecutive rate cuts cumulatively amounting to 135 bps, the RBI kept the interest rates unchanged earlier this month. RBI Governor Shaktikanta Das had pointed out that against the repo rate cut of 135 ...