NEW DELHI: The Centre will have to decide on four key appointments in as many months, starting with a replacement for G S Murmu, whose term as Comptroller and Auditor General is due to end in November. A trusted Modi government bureaucrat is likely to bag the coveted assignment to keep a watch over the…
MUMBAI: The central bank’s projections indicate that inflation will moderate after remaining high in October, RBI governor Shaktikanta Das has said, while cautioning that geopolitical risks and weather events pose potential threats.“Sept inflation crossed 5%, and we expect October inflation to be high as well. However, our projections indicate that inflation will begin to moderate…
RTGS, which is used for real-time fund transfers between banks, is operated by the RBI. (AI image) RTGS in dollars soon? Real Time Gross Settlement System or RTGS could possibly be expanded to include the settlement of transactions in major trade currencies such as the US dollar, euro, and pound sterling. The RTGS, which is…
MUMBAI: RBI governor Shaktikanta Das cautioned against unchecked use of artificial intelligence and machine learning in banking, saying it poses risks like market concentration, systemic instability, and increased vulnerability to cyberattacks.“Heavy reliance on AI can lead to concentration risks, especially when a small number of tech providers dominate the market.This could amplify systemic risks, as…
MUMBAI: Coordination between RBI and govt has helped bring down the trade-off between battling inflation and growth, RBI governor Shaktikanta Das said.RBI has steadfastly maintained that there is no trade-off between growth and inflation in the long term, as low inflation is a prerequisite for sustainable growth. However, its monetary action to curb inflation, besides…
NEW DELHI: The US Federal Reserve reduced interest rates by 50 basis points on Wednesday, marking the first cut in over four years. In its statement, the Federal Open Market Committee (FOMC) said, “In light of progress on inflation and the balance of risks, the Committee decided to lower the target range for the federal…
MUMBAI: The new external members of RBI‘s monetary policy committee, who are likely to be appointed by govt this month, are set to face new risks to growth – evident in macroeconomic numbers.RBI governor Shaktikanta Das noted some external risks to growth in a recent speech at a Bretton Woods event in Singapore. Besides Das,…
MUMBAI: RBI governor Shaktikanta Das said that India’s growth potential is around 7.5% or more, higher than the central bank’s 7.2% forecast for the current financial year.The potential growth rate refers to the rate at which the economy can grow over the long term without triggering inflation. The governor made this statement at the Bretton…
RBI Governor Shaktikanta Das has been awarded an ‘A+’ rating for the second year in a row in the Global Finance Central Banker Report Cards 2024. Mahindra Group chairman, Anand Mahindra has praised Das describing him as the “gold medal winner” of the “central bank Olympics.”How Anand Mahindra praised Shaktikanta DasMahindra shared a post on…
NEW DELHI: Govt and RBI on Saturday asked banks to sharpen focus on deposit mobilisation, by deploying innovative tools and tackling competition from other investment products, while refusing to step in with policy interventions. RBI has expressed concern over lending growth being faster than the rise in deposits for several months and finance minister Nirmala…
