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In what may be an indication of another increase in policy rates, Reserve Bank of India governor Shaktikanta Das said that expectations of a rate hike in the forthcoming policy meetings were a “no brainer” and that the RBI would withdraw surplus liquidity over the next two to three years. The governor expressed confidence that … Continue reading Rate hikes in next monetary policy meets ‘a no-brainer’, says RBI governor

The RBI has also taken a hit on its foreign investment as the value of debt securities fell due to the rise in interest rates. It has also had to spend over $40 billion of its reserves to stem volatility in the market and will need to set aside more money to replenish reserves.

There have been multiple factors driving down the RBI’s surplus this year. A major cost for RBI was the interest that is paid to banks on money that they parked with it under the liquidity adjustment facility.

The report, released by the RBI on Tuesday, said that the global growth outlook was grim as geopolitical tensions lingered, and commodity prices remained elevated, even as withdrawal of monetary accommodation gathers speed worldwide.

The Reserve Bank of India will follow its surprise May rate rise with another hike at its meeting next month, according to a majority of analysts polled by Reuters who were exceptionally split on the size of the move. Retail inflation accelerated to an eight-year high in April, remaining above the central bank’s tolerance limit … Continue reading RBI to raise rates again in June but not clear by how much: Report

Brian Armstrong, co-founder and CEO of US-based Coinbase, which operates a cryptocurrency exchange, said that pressure from the Reserve Bank of India (RBI) forced his company to discontinue integration with the Unified Payments Interface (UPI).

India has asked its central bank to either buy back government bonds or conduct open market operations to cool yields that have hit their highest since 2019, as inflation risks push foreign investors to sell, a government source told Reuters on Monday.

The Reserve Bank of India (RBI) is intervening in all foreign-exchange markets and will continue to do so to protect the rupee that slid to a record low Monday, said a person familiar with the matter.

The Reserve Bank of India’s (RBI) decision to raise interest rates will not impact the government’s planned infrastructure investments and the hike was part of a synchronised action by major central banks across the globe to deal with the twin challenges of taming inflation and supporting economic revival, finance minister Nirmala Sitharaman said on Saturday.

India’s central bank is expected to frontload more aggressive interest rate hikes in its effort to tame high inflation, at least until its repo rate hits its pre-Covid level of 5.15%, economists said after a long-anticipated rate hike on Wednesday.

The adverse effects of the unprecedented high global food prices due to the ongoing geopolitical situation is reflecting in the domestic market as well, and going forward inflationary pressures are likely to continue, RBI governor Shaktikanta Das said on Wednesday.

Amid rising inflationary pressures in the economy, the Reserve Bank of India (RBI) on Wednesday hiked key repo rate by 40 basis points (bps) to 4.40 per cent. The move is expected to raise borrowing costs for corporates and individuals.

In a surprise move, the Reserve Bank of India (RBI) on Wednesday announced an increase in key interest rates by 40 basis points, the first increase since August 2018 and the sharpest in nearly 11 years, as it shifted gears to tame surging prices.

An interest rate increase was always on the cards after retail inflation jumped to a 17-month high of nearly 7% and wholesale price inflation soared to a four-month high of 14.6% and has stayed in double-digits for 12 months in a row.

The Reserve Bank on Thursday asked card companies not to issue unsolicited credit cards or upgrade an existing card without the explicit consent of the customer, failing which they will have to pay double the billed amount as penalty. It also asked card issuers and third-party agents not to resort to intimidation or harassment during … Continue reading RBI prohibits issuance of unsolicited cards by issuers

With the Reserve Bank of India prioritising inflation over growth, the repo rate is likely to be hiked by at least 25 basis points in June, SBI’s Ecowrap report said on Wednesday. In its monetary policy announced last week, the RBI had left the repo rate unchanged at 4 per cent.

Reserve Bank of India (RBI) on Monday introduced certain principles, standards and procedures for mid and large non-banking financial companies.The revised regulatory framework for NBFCs, issued in October 2021, had indicated that such entities in the upper layer (NBFC-UL) and middle layer (NBFC-ML) would be required to have an independent compliance function and a chief … Continue reading RBI introduces principles for mid, large NBFCs

The Reserve Bank of India (RBI) on Friday kept key interest rates unchanged for the eleventh straight time in a row, and retained accommodative stance. The monetary policy committee held the lending rate, or the repo rate, at 4%. The reverse repo rate, or the key borrowing rate, was also kept unchanged at 3.35%.

Key takeaways from RBI policy meet

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The Reserve Bank of India on Friday left key rates unchanged at 4 percent and maintained an accommodative stance as the ongoing Russia-Ukraine conflict has pushed up the cost of commodities internationally, resulting in a higher inflationary trend globally.

RBI governor Shaktikanta Das on Friday hinted at ending the accommodative policy stance that began three years ago, citing the rising uncertainties arising from the Ukraine war and resultant increase in prices, and said the time has come for the central bank to put its priorities on inflation management over growth.