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April 6, 2024 10:28 AM

Reserve Bank of India leads surge in gold reserves amid global central bank slowdown

The Reserve Bank of India (RBI) stood out with its continued accumulation of gold reserves. Weekly data from the RBI revealed a 6-tonne increase in gold holdings in February alone. This brings the total year-to-date buying by the RBI to over 13 tonnes, with total gold reserves now reaching 817 tonnes. India's consistent efforts to bolster its gold reserves reflect a strategy aimed at diversifying its foreign exchange reserves and mitigating risks associated with currency fluctuations and eco...

April 5, 2024 12:45 PM

RBI keeps repo rates unchanged at 6.5 percent for seventh consecutive time

The Reserve Bank of India's Monetary Policy Committee (MPC) on Friday kept the key repo rate unchanged at 6.5 per cent for the seventh consecutive meeting, as it focused on reigning in retail inflation that has stayed above its 4 per cent target. The repo rate is the interest rate at which banks borrow funds from the RBI to overcome short-term liquidity mismatches. "It was decided by a majority of 5:1 to keep the interest rate unchanged at 6.50 per cent. Consequently, the Standing Deposit Faci...

April 1, 2024 9:18 AM

PM Modi to address ceremony marking 90 years of RBI in Mumbai today

Prime Minister Narendra Modi will address a ceremony marking 90 years of the Reserve Bank of India in Mumbai today (Monday), the central bank said. The event will also be attended by Union Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das. "Join us for the commemoration of the 90th year of Reserve Bank of India (RBI@90). Address by Hon'ble Prime Minister @narendramodi and by Hon'ble Finance Minister @nsitharaman. Welcome address by RBI Governor @dasshaktikanta," RBI said in a...

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