Reserve Bank of India Discusses Economic Situation and Appreciates Outgoing Governor’s Service

20 Dec 2024

The 612th meeting of the Central Board of Directors of the Reserve Bank of India (RBI) took place in Guwahati on Friday, chaired by the newly appointed RBI Governor Sanjay Malhotra. During the meeting, the Board expressed its appreciation for the valuable services rendered by Shaktikanta Das, who served as...

India’s Retail Inflation Declines to 5.48% in November, Within RBI’s Comfort Band

12 Dec 2024

India's retail inflation in November declined to 5.48% as compared to 6.21% in October, falling within the Reserve Bank of India's (RBI) comfort band of 2-6%. The decline in inflation is mainly due to the decline in inflation in the food and beverages group. Rural and Urban Inflation Rates Corresponding...

Meet Sanjay Malhotra: The New Governor Of The Reserve Bank Of India

10 Dec 2024

The Government of India has appointed Revenue Secretary Sanjay Malhotra as the 26th Governor of the Reserve Bank of India (RBI). Effective Wednesday, the Appointments Committee of the Cabinet approved Malhotra's appointment for a term of three years. Who is Sanjay Malhotra? Sanjay Malhotra, an IAS officer from the Rajasthan...

Sanjay Malhotra Appointed New Governor of Reserve Bank of India

09 Dec 2024

Revenue Secretary Sanjay Malhotra has been appointed as the new Governor of the Reserve Bank of India (RBI), effective Wednesday. The government confirmed the appointment in an official statement, indicating that Mr. Malhotra will serve a term of three years. Background and Qualifications Mr. Malhotra is a 1990-batch Indian Administrative...

RBI Deputy Governor Stresses Optimal Communication as Gold Standard for Central Banks

22 Nov 2024

Reserve Bank of India (RBI) Deputy Governor Michael Debabrata Patra highlighted the importance of optimal communication in monetary policy, describing it as the "gold standard" for all central bankers. Speaking at the 'High-Level Policy Conference of Central Banks in the Global South' in Mumbai on Friday, Patra emphasized the delicate...

Retail Inflation Likely to Breach 6% in October: UBI Report

10 Nov 2024

Retail inflation in India is expected to surpass the Reserve Bank of India’s (RBI) upper tolerance band of 6% in October, according to a recent report by Union Bank of India (UBI). The report cites continued escalation in food prices and the waning impact of the high base effect as...

Bank Holidays in November 2024: Banks to Close for 13 Days This Month

01 Nov 2024

The Reserve Bank of India (RBI) has released the list of bank holidays for November 2024, with banks set to close for a total of 13 days. The closures include public and regional holidays along with regular weekly holidays on Sundays and second and fourth Saturdays. Many of these holidays...

UPI Lite Boost: New Limits And Auto Top-Up Feature Launching Soon!

01 Nov 2024

New Delhi: UPI Lite users can look forward to significant enhancements as the platform implements two crucial updates starting November 1, 2024. These changes, driven by the Reserve Bank of India's (RBI) latest decisions, aim to improve the payment experience for users across popular platforms like Google Pay, PhonePe, and...

Positive Start for Stock Exchanges as Indices Rise in Early Trading

10 Oct 2024

Indian stock markets opened with a slight uptick, reflecting increased investor confidence. Both major indices started the day in positive territory. The Nifty 50 index opened at 25,067.05 points, up by 0.34%, while the BSE Sensex opened at 81,832.66 points, gaining 365.56 points. Market analysts indicate that volatility continues to...

RBI Holds Repo Rate Steady at 6.5% for the 10th Consecutive Meeting

09 Oct 2024

In its monetary policy meeting held on Wednesday, the Reserve Bank of India (RBI) decided to maintain the repo rate at 6.5 percent for the tenth consecutive time. However, the rate-setting panel shifted its stance from ‘withdrawal of accommodation’ to ‘neutral.’ Impact on Borrowers This decision implies that all external...