The Reserve Bank of India aims for market rates to be aligned with the repo rate, but over the past four years, amidst extraordinary economic events, market rates have largely been disconnected from the policy rate, as liquidity conditions have been either tailored to rev up growth or battle inflation. In the 45 months from … Read more
The Reserve Bank of India (RBI) Thursday maintained the policy interest rate and monetary stance for the sixth straight meeting citing geopolitical tensions and an uncertain food price trajectory, but forecast robust economic growth next fiscal on sustained capital expenditure by both the public and private sectors. Hopes of an early reduction in rates have, … Read more
Mumbai: The Reserve Bank of India is likely to deploy non-interest rate measures to ensure that its action of raising borrowing costs by 250 basis points since May 2022 is fully passed on to borrowers to combat rising inflation. A big chunk of the increase is yet to be passed on. The transmission of policy … Read more
Mumbai: The Reserve Bank of India is likely to deploy non-interest rate measures to ensure that its action of raising borrowing costs by 250 basis points since May 2022 is fully passed on to borrowers to combat rising inflation. A big chunk of the increase is yet to be passed on.The transmission of policy rates … Read more
Mumbai, Digital payments across the country registered a growth of 10.94 per cent in a year through March 2023, as per RBI’s index that measures the adoption of online transactions. RBI’s Digital Payments Index (RBI-DPI) stood at 418.77 at end-September 2023 compared to 377.46 in September 2022 and 395.57 in March 2023. “The RBI-DPI index … Read more
Mumbai: Banks are likely to make representations to the Reserve Bank of India (RBI) on sustained liquidity drainage that has pushed up funding costs for lenders despite unchanged policy rates for nearly a year. Liquidity has steadily declined with the central bank repeatedly stressing the primacy of maintaining price stability as Indian voters get ready … Read more
Mumbai: The Reserve Bank of India has said there will be no trading in government securities, foreign exchange markets, money markets and rupee interest rate derivatives on January 22, as the government of Maharashtra has declared the day as a public holiday. The state government has declared January 22 as a public holiday under Section … Read more
Suzuki Motorcycle India Pvt Ltd on Friday said it has partnered with SMFG India Credit Co Ltd (formerly Fullerton India Credit Co) to provide financing on purchase of its two-wheelers. The two companies have entered into an MoU for the same, Suzuki Motorcycle India Pvt Ltd (SMIPL) said in a statement. SMFG India Credit is … Read more
New Delhi: The February 1 interim budget is likely to present a status report on the National Pension System (NPS), said people aware of the matter. The group headed by finance secretary TV Somanathan that’s reviewing the scheme is likely to submit its report by the end of this month, they said. The panel has … Read more
New Delhi, Finance Minister Nirmala Sitharaman on Saturday held a meeting with heads of public sector banks and reviewed their financial performance. During the meeting, concerns related to cyber security and the risks on the financial sector were discussed, sources said. Issues related to fraud and wilful defaulters and progress on the National Asset Reconstruction … Read more
