Finance News

RBI: India’s current account deficit widens in April-June quarter India’s current account deficit widened in the April-June quarter, driven by soaring global commodity prices that pushed up the trade deficit, while large capital outflows also hurt, Reserve Bank of India (RBI) data showed on Thursday. In absolute terms, the current account deficit (CAD) stood at $23.90 billion ...

RBI monetary policy: Repo rate hiked by 50 bps, here is what it tells us Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday announced a repo rate hike of 50 basis points (bps) following the two-day Monetary Policy Committee (MPC) meeting. With this, the repo rate now stands at 5.90 per cent. This is RBI MPC’s fourth ...

RBI policy projections: Sept inflation to hit five-month high of 7.6% Retail price inflation would hit a five-month high of 7.59 per cent in September, if projections given by the Reserve Bank of India’s monetary policy committee (MPC) come out true. The projections may also mean that the central bank will have to write to the government to explain the ...

RBI may adopt expected loss approach for banks’ loan provisioning: Guv Das Governor Shaktikanta Das on Friday said the Reserve Bank is mulling to adopt the “expected loss” approach for loan provisioning. At present, the banks follow the “incurred loss” approach, where money is set aside after an asset turns sour. Das called the proposed transition ...

Inflation seen staying above 4% in FY23, to average 5.2% in FY24: RBI The Reserve Bank of India’s (RBI’s) structural models indicate average consumer price index (CPI) inflation at 5.2 per cent in the next fiscal year, lower than its forecast of 6.7 per cent for FY23 but above the target of 4 per cent. “In Q4FY24, ...

Banks can boost liquidity by drawing down on CRR: RBI governor Das At a time when surplus liquidity in the banking system has shrunk considerably, banks can augment systemic liquidity by drawing down on excess cash reserve ratio and statutory liquidity ratio, Reserve Bank of India Governor Shaktikanta Das said on Friday. From around Rs 8 trillion ...

Rupee fluctuations not a factor for MPC’s consideration, says RBI After the monetary policy committee (MPC) raised the repo rate by 50 basis points to 5.90 per cent, the Reserve Bank of India (RBI) management, including Governor Shaktikanta Das and Deputy Governor Michael Patra, spoke to the media on various issues. Edited Excerpts: What is going to ...

RBI repo rate hike to manage growth-inflation dynamics, say bankers Bankers welcomed the 50 bps hike in the repo rate by RBI on Friday, saying the move helps manage the growth and inflation dynamics as such a gradualistic approach is welcome amid rising global uncertainty. Bankers are of the view that a cautious monetary policy will help ...

RBI raises repo rate by 50 bps to 3-year high; FY23 GDP forecast cut to 7% The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Friday decided to increase the policy repo rate by 50 basis points (bps) to 5.9 per cent — which is largely on expected lines — as inflation continues to ...

Bajaj Finance to LIC HF: RBI names 16 large NBFCs in ‘upper layer’ The Reserve Bank of India (RBI) on Friday released a list of large non-banking finance companies (NBFCs) that have been put in the “upper layer” under the scale-based regulatory framework released last year. Sixteen NBFCs have been named in the list and have been ...