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The Reserve Bank of India (RBI) was established on April 1 1935 and is the country’s central bank that is responsible for creating financial stability and regulating the country’s currency and credit systems. RBI was established under the Reserve Bank of India Act. It is responsible for regulating the Indian banking system and also managing the country’s main payment systems. Under a specialized division of the RBI- Bharatiya Reserve Bank Note Mudran- it also mints Indian banknotes and coins. Under the Foreign Exchange Management Act 1999, the RBI also manages all the foreign exchange. It facilitates external trade and payments to promote the development of the foreign exchange market in India. Until the Monetary Policy Committee was established in 2016, it also had full control over monetary policy in the country. A 23 member central board of directors are heading the RBI. This includes the governor, four deputy governors, two finance ministry representatives (usually the Economic Affairs Secretary and the Financial Services Secretary), ten government nominated directors and four directors who represent local boards of Mumbai, Kolkata, Chennai and Delhi. Each of these local boards consists of five members who represent regional interests and the interests of co-operative and indigenous banks. More

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  • Nomura sees India FY24 GDP growth at 5.1%, RBI cutting repo rate by 75 bps in 2023 Dec 07, 2022 03:54 PM IST

    Nomura sees India FY24 GDP growth at 5.1%, RBI cutting repo rate by 75 bps in 2023

    Nomura's forecast comes on the day RBI raised the repo rate for the fifth time in eight months and cut GDP growth forecast for FY23 by 20 basis points to 6.8 percent

  • Rupee gains 3 paise to close at 82.47 against US dollar after RBI hikes rate, stays firm on inflation Dec 07, 2022 03:48 PM IST

    Rupee gains 3 paise to close at 82.47 against US dollar after RBI hikes rate, stays firm on inflation

    Markets now look ahead to domestic inflation data and the U.S. Federal Reserve meeting, both due next week, to gauge the currency's direction.

  • MPC | Immediate pausing is off the table Dec 07, 2022 03:41 PM IST

    MPC | Immediate pausing is off the table

    The policy rate hike of 35 bps augurs well for the Indian Rupee. The forex market participants have interpreted the policy as slightly hawkish, and there was some dollar selling by the exporters after the announcement

  • How e-rupee is different from UPI, RBI Governor explains Dec 07, 2022 03:06 PM IST

    How e-rupee is different from UPI, RBI Governor explains

    Deputy Governor T Rabi Sankar says retail CBDC can have multiple use cases and its evolution will depend on how the Indian startup and fintech ecosystem innovates

  • How should debt fund investors play the RBI rate hike? Dec 07, 2022 03:01 PM IST

    How should debt fund investors play the RBI rate hike?

    Experts suggest investing in short-term funds but also allocating a part of the capital to long-term gilt funds to take advantage of any positive surprises on the inflation front

  • Stock Market Live: When Will RBI Rate Hikes End? | Markets With Santo & CJ Dec 07, 2022 02:49 PM IST

    Stock Market Live: When Will RBI Rate Hikes End? | Markets With Santo & CJ

    RBI's Monetary Policy Committee has delivered yet another rate hike but this time - a smaller quantum. Does it suggest that the end is near for rate hikes or are there more to go? Watch as CJ discusses the monetary policy outcome with UBS economist Tanvee Gupta Jain. Also, know CJ's thoughts on L&T and VIP Industries stocks.

  • Moneycontrol Pro Panorama | No let-up in RBI’s fight against inflation Dec 07, 2022 02:29 PM IST

    Moneycontrol Pro Panorama | No let-up in RBI’s fight against inflation

    In today’s edition of Moneycontrol Pro Panorama: US government reels under high interest rates, China woos the Middle East, DESH Bill a missed investment chance, geopolitics dictate companies' investment plans, and more

  • RBI hikes interest rate as expected, and keeps the door open for further hikes Dec 07, 2022 02:02 PM IST

    RBI hikes interest rate as expected, and keeps the door open for further hikes

    Fixed rate loans, referred to as MCLR (marginal cost-based lending rate) move up with a lag. On the other side of the table, the move stands to benefit depositors.

  • Das stresses on 'trust' factor to resolve clearing house row with European regulators Dec 07, 2022 01:58 PM IST

    Das stresses on 'trust' factor to resolve clearing house row with European regulators

    Das' comments come after the European Securities and Markets Authority (ESMA) on October 31 derecognised six Indian clearing houses with effect from May 1, 2023

  • Increase in benchmark lending rate will push up loan EMIs, reduce home affordability Dec 07, 2022 01:35 PM IST

    Increase in benchmark lending rate will push up loan EMIs, reduce home affordability

    Potential homebuyers may opt to rent a home if loan costs exceed their budget

  • What is the bond market reading from the RBI policy? Dec 07, 2022 01:30 PM IST

    What is the bond market reading from the RBI policy?

    Bond investors view the MPC as a committee high strung by inflation, reflected in the seven basis point jump of the benchmark 10-year government bond yield during Das’s address.

  • SC directs Centre, RBI to put on record relevant records relating to govt's 2016 decision on demonetisation Dec 07, 2022 01:14 PM IST

    SC directs Centre, RBI to put on record relevant records relating to govt's 2016 decision on demonetisation

    "Heard. judgement reserved. Learned counsels of the Union of India and Reserve Bank of India are directed to produce the relevant records," the bench also comprising Justices B R Gavai, A S Bopanna, V Ramasubramanian, and B V Nagarathna, said.

  • RBI Policy | UPI to allow blocking funds for multiple auto-debits, BBPS expanded to non-recurring payments Dec 07, 2022 01:05 PM IST

    RBI Policy | UPI to allow blocking funds for multiple auto-debits, BBPS expanded to non-recurring payments

    UPI currently includes functionality to process payment mandates for recurring as well as single-block-and-single-debit transactions. The new facility will enable a customer to block funds in his/her account for specific purposes, which can be debited whenever needed.

  • Here's what RBI Governor Shaktikanta Das announced at the MPC briefing Dec 07, 2022 01:05 PM IST

    Here's what RBI Governor Shaktikanta Das announced at the MPC briefing

    RBI Governor Shaktikanta Das on December 7 announced that five out of six members of the MPC opted to go for a hike in the rate during the meeting.

  • RBI monetary policy | Reduce dependence on liquidity surplus, Das tells market Dec 07, 2022 12:07 PM IST

    RBI monetary policy | Reduce dependence on liquidity surplus, Das tells market

    The central bank's Monetary Policy Committee again voted to remain focused on the withdrawal of accommodation to ensure that inflation remains within the target while supporting growth

  • RBI Monetary Policy | Highlights of MPC announcements by Governor Shaktikanta Das Dec 07, 2022 12:02 PM IST

    RBI Monetary Policy | Highlights of MPC announcements by Governor Shaktikanta Das

    The Indian economy remains resilient, drawing strength from its macroeconomic fundamentals, says RBI Governor Shaktikanta Das and assures that the RBI will be watchful of the MPC policy's impact and be ready to act as may be necessary

  • Arjuna's eye, Lata Mangeshkar, Gandhi: RBI governor is a quote hunter’s delight Dec 07, 2022 11:58 AM IST

    Arjuna's eye, Lata Mangeshkar, Gandhi: RBI governor is a quote hunter’s delight

    RBI monetary policy committee (MPC): The six-member monetary policy committee (MPC) headed by Shaktikata Das raised the key lending rate or the repo rate by 35 basis points to 6.25 per cent.

  • Bond yields jump after RBI signals no halt in battle against inflation Dec 07, 2022 11:22 AM IST

    Bond yields jump after RBI signals no halt in battle against inflation

    We will keep Arjuna's eye on inflation and we will be ready to act. Our actions will be nimble

  • RBI retains its consumer price inflation forecast at 6.7% for FY23 Dec 07, 2022 10:50 AM IST

    RBI retains its consumer price inflation forecast at 6.7% for FY23

    “The battle against inflation is not over”, Das said today while announcing a 35-basis-point increase in the repo rate to 6.25 percent.

  • Indian rupee seen higher after oil prices fall to 11-month low; RBI decision eyed Dec 07, 2022 08:29 AM IST

    Indian rupee seen higher after oil prices fall to 11-month low; RBI decision eyed

    The Reserve Bank of India's (RBI) policy decision is due shortly after the open.

  • Market Minutes | What to expect from the MPC? Dec 07, 2022 07:19 AM IST

    Market Minutes | What to expect from the MPC?

    In this edition of Market Minutes, N Mahalakshmi talks about expectations from the MPC and how markets are poised ahead of policy announcement. Market Minutes is a morning podcast that tracks the risk-reward in stock markets by putting the spotlight on keys data points and developing trends

  • Fitch expects 25 bps rate hike by RBI tomorrow, stay on hold in 2023 Dec 06, 2022 03:14 PM IST

    Fitch expects 25 bps rate hike by RBI tomorrow, stay on hold in 2023

    The ratings agency has retained its GDP growth forecast for India at 7 percent for FY23 but cut the forecast for FY24 by 50 basis points to 6.2 percent

  • LIVE: Will The MPC Go For 35 Bps Rate Hike? All Eyes On Stance | Expectations From RBI Policy Dec 06, 2022 02:01 PM IST

    LIVE: Will The MPC Go For 35 Bps Rate Hike? All Eyes On Stance | Expectations From RBI Policy

    The RBI'S Monetary Policy Committee will announce its rate decision tomorrow. Will the central bank opt for a 35 bps rate hike this time around? What are the key expectations from the announcement? Watch this chat between Nandita Khemka and Latha Venkatesh to know more!

  • In Charts | Mapping the fundamentals since September 30 monetary policy decision Dec 06, 2022 12:10 PM IST

    In Charts | Mapping the fundamentals since September 30 monetary policy decision

    The Indian central bank looks at a variety of economic indicators before deciding on interest rates and other monetary policy matters. How have some of these data points moved since the Monetary Policy Committee (MPC) last met?

  • MPC must serve one last rate hike without being too hawkish Dec 06, 2022 11:52 AM IST

    MPC must serve one last rate hike without being too hawkish

    The repo rate is at 5.9 percent and most economists reckon that it should be at 6.25 percent. Many economists believe at this level, inflationary pressures can be contained without hurting the economic growth