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‘Grateful For Constant Support’, Shaktikanta Das Bids Farewell As RBI Governor

10 Dec 2024

Shaktikanta Das, the 25th Governor of the Reserve Bank of India (RBI), has bid farewell after a transformative six-year tenure, leaving behind a legacy of steady leadership through some of the most challenging times in India's economic history. As Das steps down on Tuesday, his legacy will be remembered for...

India Inflation Likely Fell In November On Moderating Vegetable Prices: Reuters

10 Dec 2024

India's retail inflation is expected to have eased to 5.53% in November, a welcome dip from the 14-month high of 6.21% recorded in October, according to a Reuters poll. This decline is largely attributed to the moderation of vegetable prices, which had soared earlier due to a combination of seasonal...

Cash Still Has Strong Demand Amid Digital Payments Surge

09 Dec 2024

Despite the rapid growth of digital payments in India, cash continues to maintain a strong demand, especially during key events such as elections and festivals. Reserve Bank of India (RBI) data on currency circulation reveals that cash demand fluctuates significantly, reflecting the influence of various socio-political events. Cash in circulation...

Who Is Sanjay Malhotra, The New RBI Governor? Education, Career And More

09 Dec 2024

The central government has appointed Sanjay Malhotra as the new Governor of the Reserve Bank of India (RBI). Malhotra will succeed Shaktikanta Das, whose term is set to conclude on December 10, 2024. Malhotra's appointment makes him the 26th governor of India's central bank. 1990-batch IAS officer Sanjay Malhotra, a...

India’s Forex Reserves Up By $1.51 Bn At $658.09 Bn As Of November 29

06 Dec 2024

India's foreign exchange reserves increased by $1.51 billion to reach $658.09 billion as of November 29, 2024, according to the Reserve Bank of India (RBI). This growth was primarily driven by a significant $2.06 billion rise in Foreign Currency Assets (FCA). However, gold reserves saw a minor decline of $595...

RBI keeps Repo Rate Unchanged. What It Means For Banks And You?

06 Dec 2024

In a move aimed at boosting liquidity and supporting economic growth, Reserve Bank of India (RBI) Governor Shaktikanta Das announced a 50 basis point reduction in the Cash Reserve Ratio (CRR) on December 6, 2024. The CRR cut, which will be implemented in two phases—on December 14 and December 28—is...

RBI Has Found A(I) Way Of Handling Frauds And Mule Accounts

06 Dec 2024

The Reserve Bank of India (RBI) is taking significant steps to tackle the rising tide of digital financial fraud. Governor Shaktikanta Das recently announced a groundbreaking initiative to detect and prevent fraudsters from exploiting the banking system. As part of this initiative, the RBI is piloting MuleHunter.AITM, an advanced AI...

Repo Rate Stands Unchanged For 6th Consecutiver Time At 6.5%

06 Dec 2024

The Reserve Bank of India (RBI), amid concerns over high inflation and slowing economic growth, announced on Friday that it would keep the repo rate steady at 6.5 percent. This decision was made with a 4:2 majority by the Monetary Policy Committee (MPC). RBI Governor Shaktikanta Das said that the...

RBI MPC Meeting: How Would Your FD Rates Change If A 25 bps Rate Cut Is Announced?

05 Dec 2024

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) is set to convene for its bi-monthly review in December 2024. Following a three-day deliberation, the committee will announce its decision on the outcome of the meeting, including any changes to the repo rate, on Friday. The RBI has maintained...

RBI Devolves 70% New Green Bonds At 6.78%-6.84%, Cutoff Below 10-Year Note

29 Nov 2024

The Reserve Bank of India (RBI) recently sold 15 billion rupees ($177.53 million) worth of 10-year green bonds, offering a coupon of 6.79%. However, the central bank was forced to devolve nearly 35 billion rupees worth of bonds, marking the first such devolvement since February 2023. Devolvement occurs when primary...