The Reserve Bank of India (RBI) on December 7, 2022 announced various developments for industry stakeholders, consumers, and India's financial markets, in its ...
Justifying this development of restoring the market timing, RBI said that the overall system liquidity “remains in surplus”. The RBI said that as part of a gradual move towards normal liquidity operations, it has now been decided to restore market hours as previously, i.e., from 9am till 5 pm. In the GIFT city, there are a number of exchanges which can enable resident entities to hedge their gold risk. The RBI decided to gradually move towards normal liquidity operations and restore market hours from 9 am till 5 pm. Sandeep Bagla, CEO, Trust Mutual Fund, said, "Till now resident entities could not hedge gold price risk in overseas markets. According to Venkatakrishnan Srinivasan, founder and managing partner, Rockfort Fincap, a debt advisory firm, restoring market hours from 9 am upto 5 p.m.
To reduce continuing inflation challenges, the Reserve Bank of India (RBI) lifted its key repo rate, or the key lending rate, by 35 basis points on ...
The RBI has raised the key lending rate five times in a row. Since May, the board has now increased the key rate by 225 bps in FY23. The banks would probably raise the interest rate they offer borrowers to make up for the elevated repo rate.
RBI Rate Hike: बुधवार को रेपो रेट की घोषणा करते हुए आरबीआई ने लगातार पांचवी बार इसे बढ़ाने का ...
गवर्नर ने कहा कि सेवाओं (Services) और प्रेषण (remittances) के तहत भारत का नेट बैलेंस सरप्लस रहता है, इससे व्यापार घाटे को कम करने में मदद मिली है। गवर्नर दास ने कहा, भारत के विदेशी मुद्रा भंडार का आकार आरामदायक स्थिति में है। यह 21 अक्टूबर, 2022 को 524.5 बिलियन अमेरिकी डॉलर से बढ़कर 2 दिसंबर, 2022 तक 561.2 बिलियन अमेरिकी डॉलर हो गया है, जो वित्त वर्ष 23 के अनुमानित आयात के लगभग नौ महीनों को कवर करता है। आरबीआई गवर्नर ने कहा है कि कोर मुद्रास्फीति में स्थिरता दिख रही है जबकि हेडलाइन मुद्रास्फीति इस वित्तीय वर्ष के बचे हुए महीनों और वित्तीय वर्ष 2024-25 की पहली तिमाही में कम हो सकती है। हालांकि इसके आरबीआई के लक्ष्य से ऊपर बने रहने की उम्मीद है। आरबीआई की ओर से रेपो रेट में वृद्धि के फैसले पर अपनी प्रतिक्रिया देते हुए श्रीराम फाइनेंस के पूर्णकालिक निदेशक और सीएफओ पराग शर्मा ने कहा है कि हम ब्याज दरों में मामूली वृद्धि का स्वागत करते हैं। मुद्रास्फीति पर केंद्रीय बैंक की टिप्पणी अधिक उत्साहजनक है। सबसे खराब दौर पीछे छूट चुका है। रेपो रेट में की गई यह बढ़ोतरी अर्थव्यवस्था में स्थिरता के साथ देश के विकास पर ध्यान केंद्रित करने का मार्ग प्रशस्त करता है। एलआईसी म्यूचुअल फंड के सीआईओ (ऋण) मर्जबान ईरानी ने कहा है कि ऐसा लग रहा था कि एमपीसी ब्याज दरों में बढ़ोतरी करेगी। केंद्रीय बैंक ने ब्याज दरों में 35 बीपीएस की बढ़ोतरी कर दी है। यह फैसला का एमपीसी के छह में से पांच सदस्यों ने समर्थन किया है। ऐसे में यह चिंता की बात है। हालांकि एमपीसी ने रेपो रेट में बढ़ाेतरी की गति धीमी जरूर की है। इस बार केंद्रीय बैंक ने रेपो रेट 50 की जगह 35 बीपीएस ही बढ़ाया है। कोटक महिंद्रा लाइन इंश्योरेंस कंपनी लिमिटेड के एग्जीक्यूटिव वाइस प्रेसिडेंट और डेब्ट फंड मैनेजर चर्चिल भट्ट के अनुसार रेपो में 35 बीपीएस का इजाफा यह साबित करता है आरबीआई महंगाई से अपनी लड़ाई में कोई ढील देने के मूड में नहीं है। एमपीसी ने वित्त वर्ष 2023 के लिए अपने विकास अनुमान को 20 बीपीएस घटाकर 6.8% कर दिया, जबकि इसने वित्त वर्ष 2023 के लिए अपने मुद्रास्फीति अनुमान को 6.7% पर अपरिवर्तित रखा है। रिजर्व बैंक की दर निर्धारण समिति ने बेंचमार्क ब्याज दरों यानी रेपो रेट में 35 बीपीएस का इजाफा किया है। इसके साथ ही रेपो रेट बढ़कर 6.25% पर पहुंच गई है। केंद्रीय बैंक ने यह फैसला महंगाई को काबू में लाने के लिए पहले से जारी प्रयासों के तहत लिया है। गवर्नर शक्तिकांत दास ने मौद्रिक नीति समिति की तीन दिनों की बैठक के बाद बुधवार को इसकी घोषणा की। आरबीआई मई 2022 के बाद से अब तक शॉर्ट टर्म लेंडिंग रेट यानी रेपो रेट में 225 बेसिस प्वाइंट्स की बढ़ोतरी कर चुका है। यह वह दर है जिसपर भारतीय रिजर्व बैंक दूसरे बैंकों को ऋण सुविधा उपलब्ध कराता है। बुधवार को रेपो रेट की घोषणा करते हुए आरबीआई ने लगातार पांचवी बार इसे बढ़ाने का फैसला लिया। केंद्रीय बैंक ने मई 2022 में रेपो रेट को 40 बेसिस प्वाइंट बढ़ाने की घोषणा के साथ इसकी शुरुआत की थी। उसके बाद जून, अगस्त और सितंबर महीने में रेपो रेट में 50-50 अंकों की बढ़ोतरी की। स्टैंडिंग डिपॉजिट फैसिलिटी (एसडीएफ) को 6% कर दिया गया है। वहीं मार्जिनल स्टैंडिंग फैसिलिटी (एमएसएफ) रेट और बैंक रेट को 6.5 प्रतिशत कर दिया गया है।
The inflation outlook in the medium term is overshadowed by uncertainties from the Ukraine war, volatility in the financial market and weather-related ...
“However, as long as interest rates remain in single digits (mainly within 9.5 per cent), the impact on housing will at best be moderate,” said Anuj Puri, chairman of the Anarock Group, a real-estate services firm. “While headline inflation may ease through the rest of the year and Q1 of 2023-24, it is expected to rule above the target. “That said, expect the RBI to strike if elevated inflation prolongs,” adds Joshi. The RBI, which had cut rates during the pandemic to enable growth since the country’s economy got severely jolted by the lockdowns, began hiking the repo rate as high inflation posed a threat. That the RBI would not go in for a 50 per cent repo rate hike, like it had done on three consecutive occasions earlier, was widely expected. Repo rate is the rate at which banks borrow from the central bank.
The increase was lower than the three previous ones, but the MPC hinted at the possibility of further hikes as it refused to lower its guard against inflation.
Das sounded more sanguine on gross domestic product (GDP) growth, though the projection for FY23 was lowered slightly to 6.8 per cent from 7 per cent. CPI inflation for Q1FY24 was projected at 5 per cent and for Q2 at 5.4 per cent. The yields of the shorter-term papers hardened more sharply. This to us is the most hawkish aspect of today’s policy announcement,” said Suyash Choudhary, head – fixed income, IDFC AMC. With this, the [repo rate](/topic/repo-rate) has been increased by 225 bps since May. He added: “The main risk is that core inflation remains sticky and elevated.”
गवर्नर ने कहा कि त्योहारी सीजन खत्म होने के बाद करेंसी सर्कुलेशन में गिरावट, ...
Arjuna's eye on evolving inflation dynamics; growth aspect will be kept in mind: Das.
Dinesh Khara, Chairman, SBI, said: “The RBI policy statement is nuanced, nimble, forward-looking and ensures a fine balancing trade-off between growth and inflation. The last time that the repo rate was at 6.25 per cent was in February 2019. Therefore, the battle against inflation is not over... Radhika Rao, Executive Director and Senior Economist at DBS Bank, said, “With inflation off the boil and high-frequency data likely to turn mixed, we expect the remaining 25 bps hike to be delivered at the February meeting before rates settled into a prolonged pause.” The Monetary Policy Committee (MPC) on Wednesday tamped down the size of the policy repo rate hike to 35 basis points to address the twin challenges of elevated inflation and slowing growth. However, he cautioned that the battle against inflation is not over.
The weighted average lending rates (WALRs) on fresh and outstanding rupee loans have increased by 117 bps ( one basis point is 0.01 percent) and 63 bps, ...
“Acuité expects a further rise in bank deposit rates over the next two quarters to the extent of 50-100 bps given the narrative from MPC and the continuing momentum in credit growth,” said Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research. The weighted average call money rate is trading above repo at 6.13 percent in November '22. [Bank of Baroda](/topic/bank-of-baroda).
The Reserve Bank of India (RBI) has decided to enhance the mandates of United Payment Interface (UPI), expand the scope of Bharat Bill Payment System (BBPS) ...
It will be transferred from one person's wallet to another," Das said. This facility will enable a customer to block funds in his/her account for specific purposes, which can be debited whenever needed. The Reserve Bank of India (RBI) has decided to enhance the mandates of United Payment Interface (UPI), expand the scope of Bharat Bill Payment System (BBPS) and ensure privacy of people in the case of digital currency transactions, said Governor Shaktikanta Das on Wednesday.
The RBI on Wednesday opted to add the functionality of a single-block-and-multiple debit in UPI while presenting the December monetary policy.
With the latest hike, the policy rate has touched 6.25% after three back-to-back rate hikes of 50 basis points each in June, August and September.
Hours after the RBI announcement, the BSE Sensex dropped for the fourth session on the trot, ending the day's trading at 62410.68 points after a loss of ...
Hours after the RBI announcement, the BSE Sensex dropped for the fourth session on the trot, ending the day’s trading at 62,410.68 points after a loss of 215.68 pts, or 0.34%. The lending rates have risen significantly, especially for the loans linked to External Benchmark based Lending Rate (EBLR) where there has been a 100% transmission of repo rate,” Shishir Baijal, chairman & managing director, Knight Frank India, a real estate consultant firm, said in a note. “We expect a 25bp rate hike in February 2023, taking the repo rate to 6.5%. “Given the RBI’s emphasis on pushing towards lowering core CPI inflation and pushing headline down towards 4%, we now expect a further 25bp hike in February taking the repo rate to 6.50%”, Rahul Bajoria, MD and head of EM Asia (ex-China) Economics, Barclays, said in a note. Simply based on the interest rate impact in this rate cycle, the Knight Frank Affordability Index has recorded a cumulative deterioration of an average of 3% across the country.” Before the latest hike, MPC increased the policy rate by 40 basis points in May, and 50 basis points each in June, August and September. MPC retained its inflation projection for the year at 6.7%, and expects it to be 6.6% this quarter and 5.9% next quarter. “Adjusted for inflation, the policy rate still remains accommodative,” Das said in his statement. Wednesday’s announcement marks the fifth consecutive rate hike by MPC, which started the current rate-hike cycle in an unscheduled MPC meeting in May. “On balance, the MPC was of the view that further calibrated monetary policy action is warranted to keep inflation expectations anchored, break core inflation persistence and contain second round effects. It expects inflation to be at 5% in the first quarter of next financial year, 2023-24. It expects the economy to expand by 4.4% this quarter and 4.2% next quarter, down from the 4.6% each it had previously projected for them.
The worst of inflation is behind us, economy is resilient but global slowdown could dent growth hopes to 6.8% from 7% projected earlier, says Governor ...
“However, that (rate hike) if it were to happen, will also be accompanied with a change in stance to neutral,” he reckoned. The aspect of growth will obviously be kept in mind,” the Governor underlined. “Our actions will be nimble and in the best interest of the economy. “If things pan out as we have projected, then the 50-basis point consecutive increases in the rate are over,” he said, adding that the central bank can still not take its shoes off the pedal as inflation needs to be guided lower and stabilised. Das, however, noted that the “terminal rate” for the U.S. “When the tightening is over, the tide will surely turn. “The biggest risks to the outlook continue to be the headwinds emanating from protracted geopolitical tensions, global slowdown and tightening of global financial conditions. Even after this revision in our growth projection for 2022-23, India will still be among the fastest-growing major economies in the world,” the monetary policy statement noted. Federal Open Market Committee policy statement in late January. But they cannot be tightening monetary policy “endlessly”, he remarked. Having hovered well over RBI’s upper tolerance limit of 6% since January 2022, retail inflation eased slightly on a sequential basis to 6.8% in October, but Mr. [moderation in the pace of rate hikes](https://www.thehindu.com/business/Economy/rbis-monetary-policy-committee-starts-deliberations-amid-expectations-of-moderate-rate-hike/article66226261.ece) “after continuous 50 basis points increases” indicates a “shift in the wind”.
e-Rupee vs UPI: As per RBI's definition, CBDC is the legal tender issued by a central bank in a digital form. It is akin to sovereign paper currency but ...
While it would be digital in nature, the e-rupee would offer features of physical cash. For e-rupee, Das said: “Similarly in CBDC, you will draw the digital currency and keep it in your wallet in your mobile. Digital Rupee, on the other hand, is just another form of currency akin to fiat currency. As per RBI’s definition, CBDC is the legal tender issued by a central bank in a digital form. While on the other hand, the e-rupee has become the town buzz after RBI launched CBDC-R and CBDC-W in a gap of just one month. While clarifying the key differences between the CBDC and UPI, RBI governor Shaktikanta Das on December 7 said e-rupee transactions will not have any intermediary, unlike UPI transactions, which is the prime difference.
SETTING THE STAGE for a further rise in lending and deposit rates, the Reserve Bank of India's Monetary Policy Committee (MPC) Wednesday hiked the repo rate ...
Responding to the RBI proposals, State Bank of India Chairman Dinesh Khara said, “The RBI policy statement reaffirmed the commitment to bring inflation down further and ensure financial stability in markets. For Q1 of 2023-24, inflation is projected at 5 per cent and at 5.4 per cent in Q2. Headline inflation is expected to remain above or close to the upper threshold in the third and fourth quarters of 2022-23, the MPC said in a statement. There is a target and the aspect of price stability is essential because that is needed for your medium-term growth. “GDP growth in India remains resilient and inflation is expected to moderate; but the battle against inflation is not over. While it lowered the FY2023 real GDP forecast to 6.8 per cent from 7 per cent, the central bank is of the view that the Indian economy continues to remain resilient, drawing strength from its macroeconomic fundamentals. Inflation has ruled at or above the upper tolerance band of 6 per cent since January 2022 and core inflation continues to persist around 6 per cent. Das said while the worst of inflation is behind and it is moderating, there is no room for complacency. The MPC hiked the repo rate by 40 bps in May and then by 50 bps in each of the three successive meetings. In a majority 4:2 decision, the MPC also retained the stance on withdrawal of accommodation to ensure that [inflation](https://indianexpress.com/article/explained/everyday-explainers/what-are-wholesale-price-index-consumer-price-index-inflation-rates-7820831/) remains within the target going forward, while supporting growth. [repo rate](https://indianexpress.com/article/explained/everyday-explainers/everyday-economics-rbi-repo-reverse-repo-rates-7776942/) hike was taken by the [monetary policy committee](https://indianexpress.com/article/explained/everyday-explainers/what-is-rbi-mpc-and-what-does-it-do-7801244/) in a majority of 5:1 with member Jayanth Varma voting against the hike. Das also signalled that the battle against inflation is far from over.
It is also necessary for regulators on the other side to appreciate and trust the credibility and strength of Indian regulations. That is what we are trying ...
“There is no disturbance as of now. That is what we are trying to impress upon them,” Das said in the post-policy interaction with the media. The Bank of
The Reserve Bank of India (RBI) has said UPI customers can create a payment mandate against a merchant by blocking funds in a bank account for specific ...
[Sensex](https://economictimes.indiatimes.com/indices/sensex_30_companies)and [Nifty](https://economictimes.indiatimes.com/indices/nifty_50_companies)Track [latest market news](https://economictimes.indiatimes.com/markets/stocks), [stock tips](https://economictimes.indiatimes.com/markets/stocks/recos)and [expert advice](https://economictimes.indiatimes.com/markets/expert-view)on [ETMarkets](https://economictimes.indiatimes.com/markets). For fastest news alerts on financial markets, investment strategies and stocks alerts, [subscribe to our Telegram feeds](https://t.me/joinchat/J60pKE7SOStsj5sI8nDmHQ).) We may see many customers who would prefer cash on delivery, use UPI mandates for payments, in the coming months." [Reliance, Ashok Leyland in Talks for Engines Running on H2](/epaper/delhicapital/2022/dec/08/et-front/reliance-ashok-leyland-in-talks-for-enginesrunning-on-h2/articleshow/96067063.cms) "The merchants will get assured timely payments, while the customers can pay by blocking the amount in their account, meaning there is a commitment to pay but the actual amount will be transferred when the actual goods are delivered. [RBI](/markets/rbi)) has said [UPI](/topic/upi)customers can create a payment mandate against a merchant by blocking [funds](/topic/funds)in a bank account for specific purposes, and the funds can be debited whenever needed.
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) raised the policy repo rate by 35 basis points to 6.25% on Wednesday — the highest since ...
With a view to providing greater flexibility to importers/exporters of gold such as jewellers and industries which use gold as an intermediate or raw material, the RBI has also allowed resident entities to hedge the price risk of their gold exposures on recognised exchanges in the IFSC (International Financial Services Centre). Nilesh Shah, managing director, Kotak Mutual Fund, said the RBI has given a “Main Hu Na” (we are there) policy that will reassure markets. For FY23, the RBI has revised the GDP growth downwards from 7% to 6.8%, while the inflation projection has been retained at 6.7%. A visible improvement in consumer and business confidence, as per RBI surveys augurs well for the future growth outlook.” Khara said the bank will calibrate its deposit rate hike, if needed. It could also increase the average ticket size of transactions. The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) raised the policy repo rate by 35 basis points to 6.25% on Wednesday — the highest since August 2018. These included an extension of time for HTM (held-to-maturity) categorisation of fresh bank investments in bonds till March 2024. [HDFC Bank](https://www.financialexpress.com/market/stock-market/hdfc-bank-ltd-stock-price/), said, “The policy tone was distinctly more hawkish than expected. However, it slipped 218 points in the last half hour to close at Rs 62,410. On the contrary, the MPC hinted at further tightening by saying that “further calibrated monetary policy action is warranted to keep inflation expectations anchored, break core inflation persistence and contain second round effects”. In addition, the mandate of UPI payments has been enhanced, making it easier for customers to have money for investments such as buying shares, online shopping, hotel bookings and others. According to Khara, this will have an orderly impact of domestic yields.
The effective Repo Based Lending Rate (RBLR) with effect from December 7 is 9.10 per cent as per the revised repo rate (6.25 per cent), state-owned Bank of ...
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RBI launched on 1 December a pilot for retail digital rupee (e ₹ R) with four banks in four cities, a month after testing the wholesale CBDC.
RBI's move of revising the repo rate post Monetary Policy Committee (MPC's) meeting was bound to have a ripple effect on the lending rates of banks like ...
HDFC Bank’s website also posted that the one-year MCLR, which acts as a benchmark for many consumer loans, has increased by 50 bps to 8.60 per cent. As per a PTI report, state-owned Bank of India’s lending rate, one after revision has now been posted on the official website. RBI’s move of revising the repo rate post Monetary Policy Committee (MPC’s) meeting was bound to have a ripple effect on the lending rates of banks.
At the heart of the dispute is ESMAs right to inspect, penalise and de-recognise any Central Counterparty Clearing Houses (CCPs) in systemically important ...
That may well be a lever for the RBI to make ESMA cede ground. Over the years they have been shrinking and are minuscule in overall banking, but they are estimated to be about 15-20% of the bonds and currency markets and the business is extremely profitable. This the [RBI](/markets/rbi)sees as an extraterritorial provision that violates the sovereignty of the nation. As the size and importance grow, India would have to be in Category 2. This provision came into being in what is called the EMIR-2, or European Markets Infrastructure Regulations, which was born to protect the continent’s financial institutions post-Brexit. [Shaktikanta Das](/topic/shaktikanta-das)said.
The Reserve Bank of India (RBI) enhanced the capabilities of the Unified Payments Interface (UPI) by introducing a 'single-block-and-multiple debits' ...
A customer can give a mandate to an e-commerce merchant whereby a certain amount will be blocked for buying goods and once the goods get delivered, the money will be debited,” a source aware of the development said. The RBI will issue instructions to the National Payments Corporation of India (NPCI), which runs and manages UPI, on this functionality shortly. The RBI said the Bharat Bill Payment System (BBPS) will now include a wider variety of recurring and non-recurring payments.
आर्थिक मामलों के विशेषज्ञ कहते हैं इसका आम लोगों पर भी असर पड़ेगा। जहां सभी तरह के लोन ...
असर - रेपो दर वह होती है, जिस पर आरबीआई अन्य बैंकों को ऋण देता है। रेपो दर बढ़ने से बैंकों के लिए कर्ज लेना महंगा हो जाएगा और वे अपने ग्राहकों के लिए भी कर्ज महंगा कर देंगे। चूंकि अर्थव्यवस्था में ऋण की मांग अधिक है, इसलिए बैंकों का एनपीए बढ़ने की भी आशंका रहेगी। असर - आरबीआई के इस फैसले से वरिष्ठ नागरिकों और पेंशन भोगियों को फायदा होगा। रेपो दर बढ़ने से इनके एफडीआर पर रिटर्न में वृद्धि होगी और उनकी बचत भी बढ़ेगी। बैंक नकदी की तरलता बढ़ाने के लिए ज्यादा ब्याज दे सकते हैं। एफडी में निवेश करने वालों को फायदा होगा। [हिंदी न्यूज़](/) [बिजनेस](/business/)आम आदमी से लेकर पेंशनभोगी तक पर RBI के फैसले से क्या होगा असर, महंगे होंगे लोन, लेकिन एफडी पर अधिक ब्याज की उम्मीद
RBI said that the CBDC, the e-rupee, will be as anonymous as the currency note and it is working to ensure anonymity for user transactions.
India’s largest bank, the State Bank of India (SBI) said in a media statement earlier this month that This means that the transaction will not have a digital footprint, ensuring anonymity. It is also possible to get a legal provision to ensure anonymity.
Financial stability is one of the key objectives of the Reserve Bank of India and it was interesting to see how the global risks still continue to threaten ...
Our sense is that the RBI will try to keep the exchange rate between the range of USD / INR rate of 80 to 82. Inflation is not a challenge, but letting inflation continue on its riot is a challenge, which is something that is not happening. The RBI Governor however, mentioned that they will look for markers to identify structural liquidity issues which will demand their intervention and only post that intervene. However, the RBI governor expressed the desire to be pro-growth, given that India is a shining bright spot in an otherwise gloomy global economy. What is interesting is the RBI governor acknowledging that it is aligned with market expectations and also a comment wherein he said that it is open to debate whether alignment to market expectations is good or bad. The RBI Governor address on December 7, 2022 was a discussion that was aligned with market expectations.