10.30 am: RBI to announce new measures to maintain adequate liquidity in system, facilitate bank credit flow, ease financial stress: RBI Governor. Das and his deputies have been at the forefront of tackling economic issues for a country ravaged by the pandemic. RBI Governor Shaktikanta Das said that lakhs of customers using digital banking into any kind of difficulty for hours. It is twice or even more than twice of the estimated figure," he said. Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. Read latest news and live updates on Rbi-governor including breaking news on Rbi-governor,Rbi-governor photos,Rbi-governor videos and many more at cnbctv18.com. Das said there is a scope for banks to improve their ability to avert frauds from happening and added that their risk frameworks should be able to “smell vulnerabilities”, India's banking sector needs reforms in terms of governance culture and risk management practices, Reserve Bank of India (RBI) Governor Shaktikanta Das warned on Thursday. Read latest news and live updates on Rbi-governor including breaking news on Rbi-governor,Rbi-governor photos,Rbi-governor videos and many more at cnbctv18.com. In his interaction with the CII, the governor focussed on five areas where India can leverage its strengths and position itself as a leader in the league of global players. It however needs to be subjected to the test of realism and pragmatism. By continuing to use the site, you agree to the use of cookies. Such a move will improve the security of digital payment channels and also convenience for users, Das said in a statement released after the bi-monthly review of the monetary policy in which RBI opted for a status quo in rates. For Yes Bank crisis, Yes Bank is responsible," Jalan said. He hoped that robust tractor sales will offset farm labour shortage and a normal monsoon will bode well for rural demand. ETBFSI.com brings latest rbi governor news, views and updates from all top sources for the Indian BFSI industry. The central bank said Das met managing directors and CEOs of credit rating agencies. Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday announced a cut in the repo rate to 4 per cent from the existing 4.4 per cent in a surprise move, and extended a … Why is he then infusing more liquidity? Shaktikanta Das said that even as the growth outlook has improved, downside risks to the growth continue. Five of six MPC members voted in favour of the rate cut, Das said. Find New Rbi Governor Latest News, Videos & Pictures on New Rbi Governor and see latest updates, news, information from NDTV.COM. The Governor also announced the further extension of three months for the deferment of interest on working capital facilities. Here's a round-up of … The RBI Governor was addressing the 7th SBI Banking & Economics Conclave on Saturday in which he said RBI has taken several measures to protect our financial system, support the economy in the current crisis. The app can be freely downloaded from Android Play Store and iOS App Store. The Reserve Bank of India is reviewing the retail inflation targeting framework behind monetary policy decision as well as its effectiveness and also plans to hold stakeholders consultations including with the government in June, Governor Shaktikanta Das said. Addressing the fact that global financial markets remain volatile, RBI Governor Shaktikanta Das in a video address on Friday said that India is expected to show a sharp turnaround in FY22, when the COVID-19 crisis is over. Indian economy recovering faster than expected: RBI Governor Shaktikanta Das, RTGS to be made available 24X7 in next few days: RBI Governor, India at the cusp of economic recovery: RBI Governor, RBI Governor Shaktikanta Das recovers from COVID-19, Economic recovery stronger than expected, need to be watchful of demand sustainability: RBI Governor Das, 'RBI governor is hitting every ball outside of the stadium', RBI Governor Shaktikanta Das tests positive for Covid-19, Second wave of COVID-19 could hamper nascent recovery: RBI Governor, India needs to put out fiscal roadmap post Covid: RBI Governor, RBI plays down concerns over bank licences to corporates, Not fresh fiscal stimulus, more important is to spend committed amount: Former RBI Governor Bimal Jalan, RBI likely to maintain status quo for 3rd straight time on inflation concerns, 'Corporate houses in banking a bad idea': Rajan, Acharya slam RBI panel recommendations, Retail inflation expected to stay close to targeted level by last quarter of FY21: RBI Governor Shaktikanta Das, Buoyant stock markets will definitely correct: RBI governor, DBS-LVB Deal: A hint to foreign banks, grim signal for shareholders, Interest of bank depositors has to be protected: RBI governor Shaktikanta Das, From 'slog overs' to 'strike form', RBI Governor Shaktikanta Das imparts cricket flavour to economic outlook, RBI governor rules out stagflation, expects consumer inflation to moderate, Combined fiscal deficit of Centre, States may go up to 14% in this fiscal: Former RBI Governor Rangarajan, RBI governor remains non-committal on moratorium, Risk-aversion will be self-defeating for banks: RBI Governor Shaktikanta Das, India's banking sector needs more reforms: Shaktikanta Das, RBI governor, Wish economy was 'circus lion' that would respond to 'ringmaster's stick': Chidambaram, Why MPC voted for status quo? PM Modi praises RBI, says decision will provide relief to farmers, poor and small businessmen. That is much more important than increasing the fiscal deficit target again," Jalan said. RBI Governor Shaktikanta Das announced the decision of the Monetary Policy Committee at a press conference. There seems finally some good news for the crisis-ridden Punjab and Maharashtra Co-operative Bank (PMC). Tomorrow is different. He said both fiscal and monetary policy in India were accommodative, and added that the governance of banks and shadow banks are very important. Governor of Reserve Bank of India (RBI), Shaktikanta Das addressed the 4th Foreign Exchange Dealers' Association of India (FEDAI) Annual Day via video conferencing on November 26. New Delhi, Nov 7 (PTI) Reserve Bank of India (RBI) Governor Shaktikanta Das on Saturday said he has turned coronavirus negative and will join office next week. 30 days is the outer limit. He also said that the GDP growth for FY21 is expected to be in negative territory. Post lockdown credit flows, with special focus on credit flows to MSMEs has also been discussed. RBI Governor to address media today at 10 am Tags: RBI RBI governor Reserve Bank of India news RBI Governor Shaktikanta Das to address the media at 10:00 AM Tags: coronavirus corona covid19 You can find out more by clicking "Proactively, it is necessary for both public and private sector banks to build up adequate capital buffers," Das said at SBI's banking and economic conclave. Subsequently, large favourable base effects are expected to pull it down to 5.4% in Q3, and 4.5% confidence intervals for headline inflation in Q4 of 2020-21 are 3.2-5.9% and 2.4-6.6%, respectively, RBI said in the policy statement. Brokerage firm Macquarie has calculated that a waiver of interest will cost the banking system ₹2.1 lakh crore while waiver of compound interest will cost about ₹15,000 crore. Several attribute the fiscal prudence to fear of a downgrade after Moody's cut India's rating and outlook in early June followed closely by a change in outlook from Fitch. Reserve Bank of India governor Shakti Kanta Das tests positive for novel coronavirus on Sunday (October 25, 2020). Economic situation bleak with few ‘slivers of brightness’: RBI Governor Shaktikanta Das. "At the moment, both the fiscal and monetary policies are in an accommodative stance, both are counter cyclical," said Das.Govt will have to spell out fiscal roadmap once COVID is contained: RBI Guv Shaktikanta Das. As per the latest Financial Stability Report (FSR) released by the Reserve Bank, gross non-performing assets of all banks may jump to 12.5 per cent by the end of this fiscal under the baseline scenario, from 8.5 per cent in March 2020. "I think the fiscal stimulus is already there... What you need is to spend the total amount of expenditure that you have already announced and implement what has been announced so far. The RBI governor said there is no reason to doubt that the fiscal deficit for the next year would be met. The NPCI is RBI's payment governance arm and is owned by a consortium of top Indian banks. The central bank's Monetary Policy Committee (MPC) kept key policy rates unchanged, but Governor Shaktikanta Das managed to … Subbarao asserted that India's economic recovery would be far better than most of the other countries. The overall policy announcements should be viewed in the context of focus on growth as the central bank knows very well that the government does not have too much headroom on the fiscal front. The government and the RBI have held that borrowers should not be compensated at the expense of depositors. The RBI gave almost everyone the much-needed Friday thrill. Let's reshape it today, Hunt for the brightest engineers in India. But Das and his men know that this easy money has helped to push down mortgage rates and lower cost of funds for corporates. The Niti Aayog vice chairman also assured that the government will do whatever is required to continue its business as usual. Reserve Bank of India (RBI) Governor Shaktikanta Das has cut interest rates by 75 basis points to 4.4% today. India Business News: The Reserve Bank of India (RBI) governor Shaktikanta Das on Wednesday said that the Indian economy, which has been battered by the ongoing coronaviru Dalal Street really does not care. RBI Governor Shaktikanta Das (File) Reserve Bank of India Governor Shaktikanta Das on Sunday said he has been tested positive for COVID-19 and will continue to work from isolation. "I am of the view that consumer inflation, going forward, should moderate.". The RBI didn't arm-twist any bank into adopting external benchmarks, he insisted.RBI hasn't asked any bank to lend or not lend to NBFCs; they will have to find market-based solutions to their problems, the Governor said. He also announced several measures to add 3.74 lakh crore liquidity to the system. India Business News: Reserve Bank of India (RBI) governor Shaktikanta Das on Friday announced a status quo on the interest rate, forecast a lower GDP contraction for the s 10.22 am: “It has been decided to reduce the fixed reverse repo rate under liquidity adjustment facility (LAF) … Daily operations of banks are running despite the business continuity challenges faced by financial institutions since the nationwide lockdown to curb the spread covid-19 was imposed by the Government of India from March 25, RBI governor Shaktikanta Das said on Friday. Former Reserve Bank of India (RBI) governor Urijit Patel has been appointed as the chairperson of National Institute of Public Finance and Policy (NIPFP), an official statement said on Friday. On Thursday, he said that the pick-up in recovery has been stronger … Inflation may fall below 4 per cent in the third or fourth quarter of the current fiscal, according to the Governor. "I do not agree that we are likely to face a situation of stagflation," Das told the newspaper in an interview published on Monday. While interacting with the National Council members of Confederation of Indian Industry (CII) on July 27, the Reserve Bank of India (RBI) Governor Shaktikanta Das said, “According to a World Bank 2020 report, 1% increase in GVC (Global Value Chains) participation can boost per capita income levels of a country by more than 1%.” “I think this is the right time for India to make efforts to become a part of GVC (Global Value Chains). Mumbai: With the Budget-making exercise in full swing, RBI Governor Shaktikanta Das on Friday said Budget 2021-22 is expected to be prudent and growth oriented. On Friday, the Reserve Bank of Indias Governor said that the Real Time Gross Settlement (RTGS) system will be made available round-the-clock in the next few days. The Reserve Bank of India governor Shaktikanta Das, in a recent statement has said that initial response from potential investors 'looks positive'. "After witnessing a sharp contraction in the economy by 23.9 per cent in Q1 and a multi-speed normalisation of activity in Q2, the Indian economy has exhibited stronger than expected pick-up in momentum of recovery," Das said. Patel will start his four-year tenure on June 22, succeeding former NIPFP chairman, Vijay Laxman Kelkar.Former RBI Governor Urjit Patel appointed as NIPFP Chariman, to replace Vijay Kelkar. RBI Governor Shaktikanta Das to hold a press conference today at 10 AM. This comes amid the Covid-19 pandemic and the subsequent countrywide lockdown.RBI reduces reverse repo rate by 25 bps from 4% to 3.75%; repo rate remains unchanged, More Repo rate has been retained at 4 pct, says RBI Governor Shaktikanta Das. Even though the financial sector continues to be sound and stable, more needs to be done to bring about more reforms, Das said at an event at Business Standard newspaper. Both counter-cyclical measures and structural reforms would be needed to tackle the slowdown, he added.On PSB mergers, Das said the exercise will create stronger entities because larger banks have greater leverage and reach.On bank interest rates, Das said the decision on spreads has now been left entirely to banks, to ensure faster transmission. Explore more on Rbi Governor News. Reserve Bank of India Governor Shaktikanta Das addressed the media amid the ongoing coronavirus crisis the country is going through. For Das, that would be bad news. The Indian government has announced several initiatives to help the poor and small- and medium-size businesses, but actual cash outgo from the government's measures has been estimated at just about 1% of GDP. The governor said he is asymptomatic and will continue to work from isolation. It looks even less now, Subbarao said. Addressing the media, RBI Governor Shaktikanta Das said, "Monetary Policy Committee (MPC) was of the view that inflation is likely to remain elevated with some relief in … The governor said that the RBI has not taken any decision on the bank licences so far and the recommendations in this regard are from an Internal Working Group. "Governor Shaktikanta Das says demand has collapsed, growth in 2020-21 headed toward negative territory. Can RBI Governor risk undoing what he has achieved? RBI Governor Shaktikanta Das dispensed with the usual regulatory formality to assure the man on the street that his deposits at Yes Bank are safe. After Patel's resignation, the government appointed former bureaucrat Shaktikanta Das as the Governor of RBI. Das was speaking at the virtual launch of NK Singh's book Portraits of Power. Governor Shaktikanta Das chaired the meetings, which were also attended by deputy governors. Allowing corporates to promote banks is not the RBI's view, and the central bank will take a decision on it and other suggestions made by an internal panel recently only after perusing public comments, Governor Shaktikanta Das said on Friday.. "Open their accounts" and "strike form" also found a place in the governor's statement as he shared his views on the coronavirus pandemic-hit economy after the Monetary Policy Committee (MPC) decided to leave key benchmark rate (repo rate) unchanged. UPI is an interoperable instant fund transfer technology created by NPCI that enables interbank fund transfer. RBI Governor Shaktikanta Das Tuesday slashed the policy rate, flushed the financial system with liquidity using multiple instruments, and used conventional as well as unconventional tools to support the economy. The Reserve Bank of India Governor Shaktikanta Das today said that the recovery in India's economy has been stronger than expected while cautioning that the recent surge in COVID-19 infections has the potential to reverse the gains made. "I have tested COVID-19 negative. As per a recent assessment by the governor the Indian economy is at the doorstep of recovery with indicators showing pick-up in activity and Covid cases tapering off the peak. Former Reserve Bank of India (RBI) governor Raghuram Rajan and former deputy governor Viral Acharya believe that the move to let large corporations own … Taiwan government celebrates Diwali; foreign minister shares stage with Indian representative The Reserve Bank of India on Friday announced a surprise 40 basis points repo rate cut in an off-cycle policy review. Here's why, India needs to leverage farm sector performance to push growth: Ex-RBI Governor Subbarao, Need legally-backed 'resolution corporation' to deal with stressed financial firms: RBI Governor, Pandemic may lead to higher NPAs, banks need more capital buffer against shocks: RBI Governor, Bad bank not only necessary but unavoidable in present situation: Subbarao, Markets will punish India for fiscal excesses, says former RBI governor, RBI Governor expects a V-shaped recovery for India in 2021-22, Economic situation bleak with few ‘slivers of brightness’: RBI Governor Shaktikanta Das, Daily banking operations running with minimum disruptions: RBI Governor, Former RBI Governor Urjit Patel appointed as NIPFP Chariman, to replace Vijay Kelkar, Review decision to appoint K V Kamath as head of expert panel on debt recast: AIBEA to RBI, Hello India, stagflation is here! Reserve Bank of India (RBI) Governor Shaktikanta Das addressed the media for a second time since the COVID-19 outbreak. The government in August 2017 had introduced the Financial Resolution and Deposit Insurance (FRDI) Bill in Parliament which, among other things, proposed setting up of a resolution corporation. And, despite the GDP shrinking at a slower pace, Mint Street (like the Main Street) can sense that it’s too early to celebrate. Covid may lead to higher NPAs and capital erosion of banks, while MFs may turn a stress point, Das has said. “Please do not extend the moratorium because we see that even people who have the ability to pay whether it’s individuals or corporates are taking advantage under moratorium and deferring payments,” Parekh appealed to RBI Governor Shaktikanta Das. The RBI Governor expects a sharp V-shaped recovery for India as projected by the IMF in 2021-22. RBI Governor Shaktikanta Das is happy with the way the Indian economy is performing. "The rural economy is doing slightly better than the urban economy which is still grappling with COVID-19. This was the 24th meeting of the MPC. PTI Follow @PTI_News With the Budget-making exercise in full swing, RBI Governor Shaktikanta Das on Friday said Budget 2021-22 is expected to be prudent and growth oriented. It is obvious this is twice the mandated level. RBI Governor Shaktikanta Das said, "Even as the growth outlook has improved, downside risks to growth continue due to a recent surge in infections in … Even though the RBI typically distances itself from commenting on individual banks, this time it made an exception by elaborating on why the step was taken while highlighting the need for strengthening technology in the … , downside risks to the use of cookies swift action by RBI Governor latest news, videos & on. Off-Cycle Policy review covid check was n't enough when it was announced funds for corporates,! As the growth outlook has improved, downside risks to the growth.. 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