Shaktikanta Das: News

RBI launches automatic reload feature for UPI Lite wallet

The Reserve Bank of India (RBI) has introduced an automatic reload feature for the UPI Lite wallet under its e-mandate framework.

RBI ups India's GDP growth forecast to 7.2% for FY25

The Reserve Bank of India (RBI) has revised its real gross domestic product (GDP) projection for the fiscal year 2024-25 to 7.2%, a slight increase from the earlier estimate of 7%.

RBI maintains 4.5% inflation forecast for FY25

The Reserve Bank of India (RBI) has kept its inflation forecast for the fiscal year 2024-2025 at 4.5%, as announced by the Monetary Policy Committee (MPC).

RBI holds repo rate steady at 6.5% for eighth time

The Reserve Bank of India's Monetary Policy Committee (MPC) has maintained the repo rate at 6.5% for the eighth consecutive time.

UPI records 14.04 billion transactions in May, sets new milestone

The Unified Payments Interface (UPI) processed a record 14.04 billion transactions in May.

RBI approves ₹2.11 lakh crore dividend to government for FY24

The Reserve Bank of India's (RBI) Central Board of Directors has approved a record surplus transfer of ₹2,10,874 crore to the government for the financial year 2023-24.

02 May 2024

Inflation

RBI's interest rate cut expectations pushed back to late 2024

A recent survey conducted by Bloomberg indicates that the Reserve Bank of India (RBI) may postpone its planned interest rate cut until the last quarter of 2024.

RBI makes cash deposits possible using UPI: Here's how

The Reserve Bank of India (RBI) has launched a new feature allowing customers to deposit cash into their bank accounts using the Unified Payments Interface (UPI) at cash deposit machines (CDMs).

RBI's new app will let you buy government bonds directly

The Reserve Bank of India (RBI) is preparing to launch a mobile application aimed at enhancing individual participation in government bonds.

UPI accounts for 80% of digital payments in India: RBI

Shaktikanta Das, Governor of the Reserve Bank of India (RBI) has announced that Unified Payments Interface (UPI) now accounts for nearly 80% of digital payments in India.

India's Digital Rupee to soon support offline transactions 

India's Central Bank Digital Curreny (CBDC), also known as Digital Rupee, will soon support offline transactions so that you can make payments in areas with limited or no internet access, as per the Reserve Bank of India (RBI).

RBI keeps repo rate unchanged at 6.5% over inflation concerns

The Reserve Bank of India (RBI) has decided to keep its key interest repo rate unchanged at 6.5%. It is the rate at which it lends short-term funds to banks.

RBI and other banks in Mumbai receive bomb threats

The Mumbai Police said on Tuesday that the Reserve Bank of India (RBI) office in Mumbai, along with HDFC Bank and ICICI Bank branches, received a bomb threat via email.

RBI raises UPI limit for hospitals, education to Rs. 5L

Reserve Bank of India (RBI) Governor Shaktikanta Das, announced two major updates related to the Unified Payments Interface (UPI), during the Monetary Policy Committee (MPC) meeting.

Over 97% of Rs. 2,000 banknotes returned to banks: RBI

On November 1, the Reserve Bank of India (RBI) revealed that over 97% of Rs. 2,000 banknotes in circulation have been returned to the banking system.

Interest rate will remain high for now: RBI Governor

At the Kautilya Economic Conclave 2023, Reserve Bank of India (RBI) Governor Shaktikanta Das announced that interest rates will stay high for now, without giving a specific timeline for a decrease.

Maintaining disinflationary monetary policy a must: RBI Governor

At the recent Kautilya Economic Conclave 2023, Reserve Bank of India (RBI) Governor Shaktikanta Das emphasized that the monetary policy must remain actively disinflationary to ensure that the decline in inflation from its peak of 7.44% in July continues smoothly.

Rs. 12,000cr worth of Rs. 2,000 notes still in circulation

Reserve Bank of India (RBI) Governor Shaktikanta Das announced on October 6 that Rs. 12,000 crore worth of Rs. 2,000 denomination notes have not yet returned to the central bank.

RBI maintains repo rate at 6.5%, FY24 GDP forecast unchanged 

The Reserve Bank of India (RBI) Governor Shaktikanta Das announced on Friday that the central bank's Monetary Policy Committee (MPC) has decided unanimously to keep the key repo rate steady at 6.5%, in line with economists' predictions.

RBI keeps repo rate unchanged at 6.5% for third time

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) has opted to maintain the key repo rate at 6.5%, marking the third consecutive time this decision has been made.

No negative impact of Rs. 2,000 notes' withdrawal: RBI governor

The withdrawal of Rs. 2,000 currency notes that the Reserve Bank of India (RBI) announced last month will have no negative impact on the economy, RBI Governor Shaktikanta Das said on Monday.

Half of Rs. 2,000 notes deposited, exchanged so far: RBI

Around 50% of the total Rs. 2,000 currency notes have been deposited or exchanged so far, according to the Reserve Bank of India (RBI).

Reserve Bank keeps repo rate unchanged at 6.5%

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Thursday made the official decision to keep the repo rate unchanged at 6.5%, news agency ANI quoted RBI Governor Shaktikanta Das as saying.

You can start exchanging your Rs. 2,000 notes from today

Anticipating a rush to exchange Rs. 2,000 notes, which begins on Tuesday, numerous banks have reportedly set up dedicated counters, people to manage queues, and enough inventory of lower denomination banknotes.

Don't rush to exchange Rs. 2,000 notes: RBI governor

Reserve Bank of India (RBI) Governor Shaktikanta Das said on Monday there was no need to panic over the withdrawal of Rs. 2,000 notes.

After six hikes, RBI keeps repo rate unchanged at 6.5%

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) stopped its rate-hike cycle to keep the repo rate unchanged at 6.5%, RBI Governor Shaktikanta Das announced on Thursday.

09 Feb 2023

Adani Group

Domestic lenders are safe from Adani Group's fall: RBI, Moody's

Adani Group has been under the microscope ever since Hindenburg Research published a report accusing the conglomerate of stock manipulation and accounting fraud. The report also pointed out the group's sky-high debts.

Gross NPAs of Indian banks fall to 7-year low: RBI

Bad loans or non-performing assets have made life harder for Indian banks for a long time. However, banks have been trying to bring them down.

21 Dec 2022

Cryptocurrency

RBI Governor warns cryptocurrency will cause next financial crisis

The Reserve Bank of India (RBI) and its Governor Shaktikanta Das has never been big a fan of cryptocurrency. On Wednesday, Das reiterated his stance that crypto should be banned.

RBI increases key repo rate by 35 bps to 6.25%

The Reserve Bank of India (RBI) increased its key lending rate on Wednesday by 35 basis points to 6.25%.

Monetary policy: RBI hikes repo rate by 50bps to 5.9%

The Reserve Bank of India (RBI) hiked the repo rate by 50 basis points (bps) to 5.9% on Friday, Governor Shaktikanta Das announced.

RBI hikes repo rate by 50bps, GDP pegged at 7.2%

The Reserve Bank of India (RBI) has decided to hike the repo rate by 50 basis points (bps) to 5.40% on Friday, Governor Shaktikanta Das announced.

RBI hikes repo rate by 50 bps; EMIs get costlier

The Reserve Bank of India (RBI) on Wednesday increased the repo rate by 50 basis points (bps) to 4.90% and the inflation projection for the current fiscal to 6.7%.

RBI hikes repo rate by 40 bps to 4.4%

In its first rate hike since August 2018, the Reserve Bank of India (RBI) on Wednesday raised the benchmark lending rate by 40 basis points to 4.4%.

08 Apr 2022

India

RBI keeps key interest rates unchanged for 11th consecutive time

The Reserve Bank of India on Friday kept the benchmark repo rate unchanged at 4% for the 11th time in a row.

RBI maintains lending rates; 7.8% GDP growth projected in 2022-23

The Reserve Bank of India (RBI) kept the repo rate unchanged at 4% for the 10th time in a row in its monetary policy review meeting on Thursday.

RBI keeps repo rate unchanged at 4%

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has decided to keep the repo rate unchanged at 4%.

Shaktikanta Das reappointed RBI governor for 3 more years

The Indian government has reappointed Shaktikanta Das as the Governor of the Reserve Bank of India (RBI) for a period of three years.

RBI retains growth at 9.5%, advocates support to nurture recovery

Reserve Bank Governor Shaktikanta Das on Friday made a strong case for continued fiscal, monetary and sectoral support to nurture the "nascent and hesitant" economic recovery while retaining the growth projection for the current fiscal at 9.5 percent.

Salary, pension, EMI rules changing; all you need to know

All important banking transactions such as salary, pension, and Equated Monthly Installment (EMI) payments will take place 24X7 from August 1.

04 Jun 2021

India

RBI keeps repo rate at 4%, cuts GDP growth projection

The Reserve Bank of India (RBI) has once again kept the repo rate unchanged at 4 percent in an attempt to "support growth and keep inflation within the target" amid India's COVID-19 crisis.

05 May 2021

COVID-19

RBI announces Rs. 50,000 crore liquidity for COVID-19-related healthcare

The Reserve Bank of India (RBI) today announced a Rs. 50,000 crore lending program to ramp up coronavirus-related healthcare infrastructure and services until 2022 in view of the catapulting COVID-19 crisis in the country.

Repo rate untouched, 10.5% GDP growth predicted in 2021-22

Reserve Bank of India (RBI) has decided to leave key rates unchanged, Governor Shaktikanta Das said on Friday, in his first address after the Union Budget was presented on Monday.

RBI says Indian economy recovering faster than expected

The Indian economy, which was dealt a heavy blow by the coronavirus pandemic, is recovering faster than expected and could also register a minor positive growth in the third quarter of the current fiscal year, the Reserve Bank of India (RBI) said.

RBI predicts FY21's real GDP-growth at -7.5%; repo rate unchanged

On Friday, the Reserve Bank of India revised the real GDP growth projection for 2020-21 to -7.5%, after initially predicting that it would be -9.5%.

RBI Governor Shaktikanta Das happy with Indian economy's recovery

RBI Governor Shaktikanta Das is happy with the way the Indian economy is performing. On Thursday, he said that the pick-up in recovery has been stronger than expected.

Repo rate unchanged; RTGS payment will be available 24*7: RBI

RBI Governor Shaktikanta Das on Friday announced Monetary Policy Committee's decisions and spoke about the revival of the coronavirus-battered Indian economy.

As economy suffers, RBI keeps repo rate unchanged

On Thursday, RBI Governor Shaktikanta Das announced that repo rate and reverse repo rate will not change, a move which would keep retail prices contained.

Amid coronavirus crisis, RBI extends loan moratorium till August

Addressing the media on Friday, RBI Governor Shaktikanta Das said the central bank has brought down the repo rate by 40 basis points.

Struggling economy gets RBI's boost, big announcement for banks

With the economy stung drastically by the coronavirus pandemic, RBI Governor Shaktikanta Das addressed media for the second time in a month to announce key measures.

RBI's 3-month EMI moratorium: All you need to know

Earlier in the day, the Reserve Bank of India (RBI) announced a few measures in view of the 21-day lockdown over coronavirus.

Coronavirus: Day after Centre's economic package, RBI cuts repo rate

RBI has cut repo rate by 75 basis points, bringing it down from 5.15% to 4.4%, Governor Shaktikanta Das told media at a briefing on Friday. The reverse repo rate was reduced by 90 basis points to 4%.

16 Mar 2020

India

India not immune to economic impact of COVID-19: RBI Governor

Reserve Bank of India (RBI) Governor Shaktikanta Das addressed a press conference at the central bank's headquarters in Mumbai on Monday.

#NewsBytesExplainer: Why is RBI giving Rs. 1.76L crore to government

Amid an economic slowdown in the country, Reserve Bank of India (RBI) stepped in to bail out Prime Minister Narendra Modi's government.

RBI cuts repo rate by 25bps; loans/EMIs to get cheaper

Taking a major policy U-turn, the RBI's six-member Monetary Policy Committee (MPC) headed by newly-appointed Governor Shaktikanta Das lowered the repo rate by 25 basis points to 6.25%.

Operational independence of central banks important: IMF director

The International Monetary Fund (IMF) yesterday said that "operational independence" of central banks like the Reserve Bank of India (RBI) was important for carrying out their responsibilities.

13 Dec 2018

Bharti Airtel

Sensex rises over 200 points, Nifty reclaims 10,800 mark

The equity benchmark BSE Sensex today rose 263.70 points, or 0.74%, to 36,042.77 in early trade, a day after Shaktikanta Das took charge as the new Governor of RBI and promised to take all stakeholders along on key policy issues to maintain growth while keeping inflation under check.

Shaktikanta Das takes charge as new RBI Governor

A day after he was appointed as the new Governor of the Reserve Bank of India (RBI), Shaktikanta Das, on Wednesday, took charge of the central bank.

Shaktikanta Das becomes the new RBI governor

On Tuesday, Shaktikanta Das was made the Governor of Reserve Bank of India after Urjit Patel resigned on Monday. He will join office immediately.

30 May 2017

India

RBI to soon circulate new Re. 1 notes

The RBI has announced it will soon issue new one rupee notes. The current notes and coins in existence will also continue.

RBI releases guidelines for drawing Rs.2.5L for weddings

The Reserve Bank of India has issued a circular letting withdraw Rs.2.5 lakh for weddings.