RBI Announces Hike In Repo Rate To 6.5%
The Reserve Bank of India hiked the repo rate by 25 basis points to 6.5%, on February 8. Governor Shaktikanta Das announced the decision of the monetary policy committee of six members, taken with a majority of 4 votes. In December 2022, the repo rate was raised by 0.35 percentage points to 6.25%. While repo rate hiked, there was no change in the reverse repo rate of 3.35%.
Tags: RBI, SHAKTIKANTA DAS, Reserve Repo Rate, repo rate, Indian Banks
Courtesy: Hindustan Times
RBI Raises Concern Over Unethical Loan Recovery Practices
The Reserve Bank of India raised concerns over the growing unethical loan recovery practices, usurious interest rates and data privacy issues, on September 21. It also flagged certain material concerns regarding the mushrooming of digital lending apps. Amid the need of the hour to ensure safety following a process of whitelisting and due diligence by the regulated entities, the RBI Governor Shaktikant Das raised the concerns.
Tags: Loan Apps Recovery, Unethical Recovery, RBI, SHAKTIKANTA DAS, New Policy
Courtesy: The New Indian Express
RBI & Union Ministry On Same Page, Working With Harmony: Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman, on February 14, dismissed rumours of conflict with the RBI. In a statement, Sitharaman said, "With RBI & Ministry, not just on crypto but every other thing as well, I think there's complete harmony". Notably, the statement came after rumours of disagreement over legalisation of crypto currency in India. Backing the statement up, RBI Governor Shaktikanta Das said, matter is being discussed… read-more
Tags: Union Finance Minister, Nirmala Sitharaman, Reserve bank of India, SHAKTIKANTA DAS, Cryptocurrency
Courtesy: One India
RBI Governor Asks Cryptocurrency Investors To Invest At 'Own Risk'
Taking a strong opposition on digital "crypto currency", RBI Governor Shaktikanta Das, on February 10, said, "Private crypto currency or whatever name you call is a big threat to our macroeconomic stability and financial stability". Furthermore, the RBI Governor asked investors to be careful and said, "Investors in crypto currency should keep in mind that they are investing at their own risk". Meanwhile, Government is yet to announce the… read-more
Tags: SHAKTIKANTA DAS, RBI GOVERNOR, Cryptocurrency, Union Finance Minister, Finances
Courtesy: NDTV Profit
Shaktikanta Das Gets Reappointed As RBI Governor
Reappointment of Shaktikanta Das as the governor of Reserve Bank of India has been approved by the Appointments Committee of the Cabinet. The governor has been reappointed for a period of three years after December 10, 2021. DoPT stated, "The ACC has approved the reappointment of Shri Shaktikanta Das, IAS Retd, (TN:80) as Governor, RBI for a period of three years beyond 10.12.2021".
Tags: RBI GOVERNOR, RBI, SHAKTIKANTA DAS, India, Indian Economy
Private Cryptocurrency Isn't Good For Economy: RBI Governor
As the private cryptocurrency spreading its legs in India, RBI governor Shaktikanta Das once again raised his concerns over it while speaking at a press briefing on September 9. Das also said he alerted the government about the growth in private cryptocurrencies in the Indian economy. Earlier in February, Das had also raised the concern over the currency saying it could major risk to the financial stability.
Tags: RBI, SHAKTIKANTA DAS, Private Cryptocurrencies, Centre
RBI Maintains Status Quo On Repo Rate At 4%
For the seventh consecutive time, the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das has kept the benchmark interest rate unchanged at 4%. Reportedly, the "accommodative stance is maintained as the economy is still recovering from the COVID-19 second wave". This move supports growth and keeps inflation in check. Accordingly, the reverse repo rate will remain at 3.35% and annual inflation at 4%.
Tags: RBI, SHAKTIKANTA DAS, monetary policy committee, interest rate, Economy
Courtesy: Press Trust Of India
RBI To Provide Rs 50,000 Cr Under Priority Sector Lending For COVID-19
The Reserve Bank of India has announced Rs 50,000 crore under the priority sector lending for the COVID-related health infrastructure. RBI Governor Shaktikanta Das on May 5 said that the amount will be dispersed till March 31, 2022, and it will be used for hospitals, oxygen suppliers, vaccines and drugs among other COVID requirements. Besides, he stated that banks will be creating a COVID-19 loan book for this purpose.
Tags: RBI, RBI GOVERNOR, Covid-19, Health Infrastructure, SHAKTIKANTA DAS
Courtesy: The Hindu
RBI Crosses 1 Million Twitter Followers; Becomes Most Followed Central Bank
With 1 million followers, the Reserve Bank of India has become the most followed central bank of the world on Twitter. RBI Governor Shaktikanta Das has shared the achievement and had congratulated his colleagues. Indonesia's Central Bank and Bank of Mexico are at the 2nd and 3rd positions respectively. RBI entered the micro-blogging platform in 2012. However, its followers surged since last year due to its regular interactive campaigns.
Tags: RBI, Twitter, SHAKTIKANTA DAS
Courtesy: Times Now
Central Board of RBI Approves Transfer of Rs 57,128 Crore to Centre
In 584th meeting of the Central Board chaired by governor Shaktikanta Das, RBI approved transfer of Rs 57,128 crore as surplus, to the Central Government for the fiscal year of 2019-20. As coronavirus crises affected Centre's revenue targets, government faced a high fiscal deficit of Rs 6.62 lakh crore during April-June quarter. Reserve Bank mandates for any profits made by its operation to be sent to the Centre (RBI Act, 1934).
Tags: RBI, SHAKTIKANTA DAS, CENTRAL BOARD, CORONAVIRUS CRISES
Courtesy: Times Of India