The local currency opened at 88.74 against the US dollar, as compared to 88.7825 against the greenback at the previous close.
Decoding the RBI's October review: Rate cuts remain distant, EMIs stay where they are
A pick-up in demand, along with fiscal and monetary measures, to support credit growth
With India Inc’s financial health at its best and loan growth remaining anemic despite efforts, the regulatory nudge towards big-ticket corporate loans is understandable. But who will lend in this cycle and more importantly, what happens to cautious lending are key questions ahead of the sector.
While the proposal incentivises banks to manage risks better, without raising the Rs 5 lakh insurance cap, depositors' confidence in the system remains shaky amid rising uncertainties
These measures include consolidation of large number of circulars and directions of the RBI, measures related to strengthen export sector, and review of restrictions on transaction accounts.
The statement clearly articulated that the current macroeconomic conditions and the outlook have opened up policy space for further supporting growth.
Even if devil lies in details, many demands of the banking sector have been granted in one stroke of the wand. Over the next 3 – 5 years, some of the regulatory decluttering can go a long way in reshaping the business of banking.
The RBI’s Monetary Policy Committee (MPC) decided to keep the benchmark repo rate unchanged at 5.5 percent on October 1, second time in a row.
The RBI’s Monetary Policy Committee (MPC) decided to keep the benchmark repo rate unchanged at 5.5 percent on October 1, second time in a row.
The circular envisages to streamline the activities being undertaken by banks and their group entities while providing more operational freedom to the banks and NOFHCs for equity investments and setting up group entities respectively, RBI said.
The MPC also announced additional measures, including the inclusion of select currencies of India’s major trading partners in the list of reference rates published by Financial Benchmarks India Ltd
The RBI’s Monetary Policy Committee (MPC) decided to keep the benchmark repo rate unchanged at 5.5 percent on October 1, for the second time in a row.
According to a RBI report, households in rural and semi-urban areas reported a slight uptick in their current perception of inflation, which rose by 10 bps to 5.9 percent compared with the previous round of surveys.
In January, the RBI permitted Indian exporters to open foreign currency accounts with a bank outside India for realisation of export proceeds
The proposed move, which won't change the insurance cover limit, aims to align India’s system with international practices, where deposit insurers use risk-based premiums to encourage prudent financial management
The revised framework aims to improve the robustness, granularity and risk sensitivity of the standardized approach for calculating the capital charge for credit risk. The draft guidelines shall be issued shortly, RBI Governor said.
The Reserve Bank of India (RBI) today maintained a status quo on repo rate and policy stance, highlighting India's favourable growth-inflation dynamics. Meeting Street expectations, RBI Governor Sanjay Malhotra-led Monetary Policy Committee (MPC) kept the repo rate unchanged at 5.5 per cent, and maintained the policy stance as ‘neutral’. RBI MPC addresses the media after the monetary policy announcement.
The guidelines are expected to enhance credit risk management practices, promote better comparability of reported financials across institutions, RBI said.
RBI Monetary Policy Committee (MPC) meets to decide on India’s key interest rates. Key expectations from the meeting: Will RBI hold fire on rate cuts and opt for another pause? Outlook on inflation, growth & liquidity RBI’s stance on repo rate and borrowing costs Insights from Governor Shaktikanta Das on the Indian economy Watch the LIVE coverage of RBI’s policy announcement and expert analysis on how it impacts markets, banks, and borrowers.
The MPC considered it prudent to wait for impact of policy actions to play our before charting the next policy action.
MPC is likely to maintain the status quo on interest rates in its October review, a Moneycontrol poll of 15 economists, bank treasury heads and fund managers has found.
A day earlier, the rupee sank to a record low of 88.8850 against the US dollar amid persistent selling by foreign investors
With CPI at rock-bottom lows but core acting stubborn, the MPC faces a moment of truth on the rate cut front