MUMBAI: Reserve Bank of India governor Shaktikanta Das on Thursday announced the monetary policy committee’s decision to keep rates on hold for the ninth consecutive time, citing strong demand and the need to maintain inflation’s declining trajectory.“The MPC decided by a majority of 4:2 to keep the policy report unchanged at 6.5%. Consequently, the standing…
NEW DELHI: There is not likely to be any impact on loan EMIs as the Reserve Bank of India‘s monetary policy committee had decided to keep the repo rate unchanged at 6.5%.“The monetary policy committee decided by a 4:2 majority to keep the policy repo rate unchanged at 6.5%. Consequently, the standing deposit facility (SDF)…
Why did RBI move 100 tonnes of India’s gold reserves back into the country? TOI was the first to report about the central bank’s decision to bring back such big amount of gold back into India from the UK.Shaktikanta Das, the governor of the Reserve Bank of India, has now explained the rationale behind the…
MUMBAI: Reserve Bank of India governor Shaktikanta Das said the decision to bring in 100 tonnes of gold was made because the quantum of gold outside the country had gone up due to RBI’s purchase. Part of the gold was decided to be held within the country as there was storage capacity available.“The quantum of…
UPI Lite was introduced in September 2022 to enable small value payments. Cheer for UPI Lite users! The Reserve Bank of India (RBI) governor Shaktikanta Das on Friday announced new measures for UPI Lite users. The announcement was made as a part of the RBI’s Monetary Policy Statement. According to the new measures, users of…
Mumbai: RBI governor Shaktikanta Das said offline accessibility, which is in the works, will make the digital rupee an attractive choice for retail users.In addition, wholesale use of CBDC for trade in commercial paper and certificates of deposit in the debt market will also be extended by RBI, Das said in a panel discussion on…
The Reserve Bank of India (RBI) has increased its gold purchases to enhance the diversity of its foreign exchange reserves amid fluctuations in the US dollar. The surge in the value of outstanding gold reserves accounted for more than 80% of the nearly $3-billion rise in forex reserves, which reached a record $648.5 billion as…
New UPI features: RBI governor Shaktikanta Das on Friday announced two new features or measures for Unified Payments Interface (UPI) users, with an aim to enhance ease of transactions and cash deposits. The new announcements were made by Shaktikanta Das as a part of RBI’s monetary policy statement.The two new UPI features allow users to…
UPI Access for Prepaid Payment Instruments (PPIs) through Third Party App: The Reserve Bank of India (RBI) governor Shaktikanta Das on Friday announced in his monetary policy committee (MPC) statement that individuals can now use prepaid payment instruments like digital wallets to make payments via UPI through third-party apps. RBI Governor Shaktikanta Das highlighted that…
RBI Monetary Policy Meeting: “The elephant has now gone out for a walk,” said RBI governor Shaktikanta Das as part of his monetary policy statement. So what did Shaktikanta Das mean and what is this elephant that he spoke of? The Reserve Banking of India (RBI) in its first Monetary Policy Committee (MPC) meeting for…
