The case for a 50-bps rate hike

The Reserve Bank of India’s monetary policy committee will meet later this week at a time of great global turmoil and uncertainty. A 50 basis points rate hike seems to be the most likely outcome of the meeting. Inflation is around 7 percent and is not going to come down in a hurry.
#ReserveBankofIndia #News #Business #Economy

3 days ago

Rupee hits record low vs US dollar for second day, slides past 81 levels

The rupee suffered its biggest single session percentage decline since february. It was due to lack of aggressive intervention by the Reserve Bank of India (RBI) and a very U.S. Hawkish rate outlook, traders said.
#ReserveBankofIndia #Hawkish #News #Business #Markets

6 days ago

Banking system liquidity may remain in deficit in second half: Analysts

The country's slipped into deficit on Tuesday for the first time in over three years. A widening liquidity deficit could lead to a rise in short-term borrowing rates and prompt the Reserve Bank of India to pump in money into the banking system through repo auctions.
#ReserveBankofIndia #News #Business #Economy

1 weeks ago

Liquidity slides into deficit for first time in over 3 years: RBI data

Liquidity in the economy has slipped into a deficit mode for the first time in over three years. The Reserve Bank of India has always strived hard to provide up-to-date information. Your encouragement and constant feedback on how to improve our offering have only made our commitment to these ideals stronger.
#RBI #News #Business #Economy

1 weeks ago

India's retail inflation quickens to 7% in August; IIP growth eases to 2.4%

Retail inflation remained above the Reserve Bank of India's comfort zone of 2-6%. Food inflation soared 7.62% in August 2022 as against 6.75% in July. Industrial growth tumbled to 2.4% in July as compared to 12.3% in June.
#ReserveBankofIndia #News #Business #Economy

2 weeks ago

‘Will give necessary stimulus to economy, along with RBI’: Sitharaman

The government and the Reserve Bank of India (RBI) will extend necessary stimulus to maintain economic growth momentum. The government is committed to the announced plan for bank privatisation.
#Sitharaman #RBI #News #Business #Economy

3 weeks ago

Markets extremely volatile and uncertain since Jackson Hole summit: RBI Governor Das

Reserve Bank of India Governor Shaktikanta Das said the central bank has intervened in forex markets to prevent excessive volatility in the exchange rate. Das said that going forward, India's monetary policy will remain watchful, nimble-footed and calibrated. India is widely perceived to be the fastest growing economy in the world this year, when other major economies may actually be encountering recession or considerable moderation in their growth momentum.
#ShaktikantaDas #ReserveBankofIndia #India #News #Business #Markets

3 weeks ago

'India's status as fastest growing economy to be short-lived'

India likely recorded strong double-digit growth in the last quarter but economists expect the pace to more than halve this quarter and slow further toward the end of the year. Asia's third-largest economy is grappling with persistently high unemployment and inflation, which has been running above the top of the Reserve Bank of India's tolerance band all year.
#ReserveBankofIndia #India #News #Business #Economy

4 weeks ago

Fund managers fear rise in inflation may reign in D-Street rally

Moneycontrol’s Market Sentiment Survey saw participation from nine fund managers who together manage assets worth Rs 3.2 lakh. Runaway increase in product prices has been the biggest concern of investors and central bankers in 2022, with global inflation hitting near record highs. At home, the Reserve Bank of India has suggested that inflation may have peaked in April.
#Moneycontrol #MarketSen #News #Business #Markets

1 months ago

India to incentivise rupee-settled exports to boost Russia trade: sources

The move is designed to boost Russian trade after the Reserve Bank of India put in place a mechanism for international trade settlements using the rupee last month. Indian companies are already swapping out the dollar and euro for Asian currencies to settle trades to avoid Western sanctions imposed on Russia. The most likely incentive that will be granted would apply a current program for trades using fully convertible currencies such as the dollar.
#ReserveBankofIndia #Russian #Indian #Russia #News #Business #Economy

1 months ago

Stock Market Sectors: Stock market update: Sugar stocks down as market rises - The Economic Times

The NSE Nifty50 index ended 27.45 points up at 17604.95. The 30-share BSE Sensex closed up 54.13 points at 59085.43. Payment aggregators are set to lobby the Reserve Bank of India (RBI) on the new digital lending guidelines.
#BSESensex #News #Business #Markets

1 months ago

RBI governor says inflation has peaked, ‘will approach 4% target in steady manner’

Reserve Bank of India Governor Shaktikanta Das seeks to slow India’s inflation to 4% within two years. Consumer prices have fallen for three straight months in July but continue to remain above 6% mark. Das said the central bank is watching every incoming data and there's “no room for complacency”
#ShaktikantaDas #ReserveBankofIndia #India #News #Business #Economy

1 months ago

Telangana hopeful of raising Rs 1,500 crore via market borrowings

Telangana state government saw no significant reductions in its market borrowings from the Centre in the second quarter of this financial year (2022-23 July-September) The state government has sought permission to raise Rs 9,000 crore through auction of bonds by the Reserve Bank of India (RBI) The Centre suspended all loans in April and May, allowing the state government to raise only Rs 7,000.
#Centre #Telangana #News #Business #Markets

1 months ago

Sovereign gold bond opens for subscription: Benefits of SGB over other forms of gold

The second tranche of the Sovereign Gold Bond (SGB) Scheme 2022-23 opened for subscription today, August 22, 2022. SGB scheme will remain available for subscription until August 26. The Reserve Bank of India fixed the issue price of Sovereign Gold Bonds at ₹5,197 per gram.
#ReserveBankofIndia #SovereignGoldBond #SGB #News #Business #Economy

1 months ago

Sovereign Gold Bond Scheme Opens Today: Price, Discount, Interest, Key Things to Know

The second tranche of Sovereign Gold Bond (SGB) of the Reserve Bank of India (RBI) has opened today, August 22. The sovereign gold bond issue price has been fixed at Rs 5,197 per gram, as per a notification by the central bank. The interest on the bonds is fixed at 2.50 per cent per annum.
#ReserveBankofIndia #SovereignGoldBondScheme #News #Business #Economy

1 months ago

UPI payment charges explained: Why FinMin had to clarify there’s no move to levy fee

The Finance Ministry says there is “no consideration” in the government to levy any charges for Unified Payments Interface (UPI) services. The Reserve Bank of India released a discussion paper on Wednesday seeking stakeholder views on charges in payment systems. The RBI paper is open for comments on fee structure for a range of digital payment services.
#FinanceMinistry #News #Business #Economy

1 months ago

No plan to import wheat, sufficient stocks to meet domestic demand: Govt

The government does not plan to import wheat and it has sufficient stocks to meet domestic demand. Bloomberg reported that owing to looming shortage and rising prices, the government may consider importing the grain. The state reserves of wheat have declined to the lowest levels in 14 years. Retail wheat inflation in India is close to 12 per cent, and retail inflation has stayed above the Reserve Bank of India's upper tolerance limit of 6 per cent.
#ReserveBankofIndia #India #News #Business #Economy

1 months ago

Congress demands white paper on privatisation of public sector banks from government

Congress accused the Centre of having pressured the government to disown its research report. The report argued against a big bang approach to privatisation of public sector banks. It alleged the central government had changed the Reserve Bank of India to Reverse bank of India by forcing it to make a U-turn.
#Congress #News #Business #Economy

1 months ago

Forex market intervention aims met with lower fall in reserves: RBI article

Reserve Bank of India (RBI) has been successful in achieving its foreign exchange market intervention goals with a progressively lower drawdown in its reserves. This is largely owing to the accumulation and timely use of foreign exchange reserves by the RBI, an article by staff of the central bank said.
#ReserveBankofIndia #News #Business #Markets

1 months ago

Sovereign Gold Bond: Key Things To Consider When Buying Sgbs From Secondary Market

Investing in gold via sovereign gold bonds (SGB) is a popular way to buy yellow metal. Issued by the Reserve Bank of India (RBI), SGBs are available via banks, post offices and stock exchanges.
#ReserveBankofIndia #News #Business #PersonalFinance

1 months ago