-Repo rate remains unchanged at 6.5%
-Decision to pause rate hikes is for this meeting only 3 FY24 GDP growth estimate at 6.5%
-Inflation has softened,but remains above tolerance level
-Headline inflation expected to moderate in 2023-24
-Repo rate remains unchanged at 6.5%
-Decision to pause rate hikes is for this meeting only 3 FY24 GDP growth estimate at 6.5%
-Inflation has softened, but remains above tolerance level
-Headline inflation expected to moderate in 2023-24
-Repo rate remains unchanged at 6.5%
-Decision to pause rate hikes is for this meeting only 3 FY24 GDP growth estimate at 6.5%
-Inflation has softened,but remains above tolerance level
-Headline inflation expected to moderate in 2023-24
-"In our opinion, this has been primarily induced by the turbulence in the global banking sector brought about by the failures of a few regional banks in US and the potential contagion risks in other parts of the world," she says.
-Nevertheless, the communication from RBI has highlighted that the war with inflation is not yet over and the MPC will be ready to take any further hike in rates if the concerns on inflation increase further, she adds.
-"Our research has found that headline inflation aligns to core inflation. Our sense is that both will moderate," says RBI Deputy Governor Michael Patra.
-"The rate actions taken so far have already started taking effect. Credit (growth) is slowing…," he adds.
-RBI Governor Shaktikanta Das states that India has made phenomenal progress in the digital payments space, in the last few years.
-Decision to pause on repo rate is only for this meeting only
-5 out of 6 voted for MPC stance decision to stay focused on withdrawal of accommodation
-RBI ready to act if the situation so warrants
-FY24 GDP forecast projected at 6.5%
-FY24 inflation forecast lowered to 5.2% from 5.3
-"Banks are expected to make provisions for expected losses and for standard losses they are required to make additional provisions based on their ability. There is no change on that," he says.
-"We are seeing interest from countries and banks for rupee trade settlement. Initial processes are on and they are encouraging. Some transactions have happened, yes. But this is a long-term objective," he says.
-"Average inflation for FY24 is 5.2% and our target is 4%. Given the current confluence of factors today, we have taken the decision to pause. We have to remember that 4% is our target. I don’t want to commit myself to something by saying ‘I’ll do this if this happens’," says RBI Governor Shaktikanta Das
"As of now, the Indian banking system remains strong and healthy. The Governor has said it is an evolving situation and we are living in uncertain times. But I would like to add that prudential regulations are applied uniformly for Indian commercial banks irrespective of their size," he says.
"The MPC remains watchful and will not hesitate to take further action in its future meetings, as and when necessary. So, the job is not finished," says Shaktikanta Das
