Reserve Bank of India

August 29, 2025 3:06 PM

Centre names former RBI governor Urjit Patel as IMF Executive Director for 3 years

The government has approved the appointment of former Reserve Bank of India (RBI) governor Dr. Urjit Patel as Executive Director at the International Monetary Fund (IMF) for a three-year term. Patel’s appointment follows the abrupt termination of Krishnamurthy V. Subramanian’s services, which ended his term about six months early. He is widely regarded as a key architect of India’s inflation-targeting framework for monetary policy. A Kenyan-born Indian economist, Patel began his ...

August 22, 2025 3:32 PM

RBI says flexible inflation targeting framework served India well amid global challenges

The Reserve Bank of India (RBI) has said that the flexible inflation targeting (FIT) framework has performed well since its introduction, meeting the needs of the country even during challenging times. In a recent report, the RBI highlighted that the FIT framework, introduced to maintain price stability in India, has broadly delivered on its objectives. Between its inception and the end of 2019, inflation in India remained low and stable, averaging around 4 per cent. The report stated, “The ...

August 13, 2025 12:00 PM

Inflation at 98-month low, further RBI rate cuts difficult this year: SBI Research

As August inflation print is expected to cross 2% and be closer to 2.3%, a rate cut by the Reserve Bank of India (RBI) in October seems to be a tough move, a research by the State Bank of India (SBI) stated on Wednesday, adding that even a rate cut in December looks slightly difficult if growth numbers for Q1 and Q2 are taken into consideration. India’s Consumer Price Index (CPI) inflation moderated to 98-month low of 1.55% in July, compared to 2.10% in June and 3.60% in July 2024. The Jul...

August 7, 2025 1:35 PM

India’s financial inclusion gains momentum: Report

The foresight to build a financially empowered India, taking banking beyond branches, is making it a success. From remote to urban areas, a wave of change is noticeable across the country with an inclusive financial system. Bank accounts, credits, pensions, and insurance, which were once a luxury for some, are now accessible to all. According to data released by the Reserve Bank of India (RBI), the accessibility of financial services, products and financial literacy has been on the rise. The ...

August 6, 2025 5:05 PM

Rate cut likely in next RBI MPC meet amid global developments: Morgan Stanley

Morgan Stanley on Wednesday said that in terms of policy response, it sees the likelihood of another rate cut by the RBI in Q4 (likely in October policy) amid headwinds from tariff-related developments. In a unanimous vote, the RBI MPC kept the policy rate unchanged at 5.5 per cent, in line with expectations. All members voted to retain the stance at neutral. “The policy statement noted that the benign trend in the headline inflation print is likely to be transitory, on the back to lower foo...

August 6, 2025 2:30 PM

US Tariff Hike Unlikely to Impact Indian Economy Significantly: RBI Governor

Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday said that the recent US tariff hike is not expected to have a major impact on the Indian economy, unless retaliatory tariffs come into play. Addressing a press conference following the monetary policy announcement, Malhotra said, “There might not be a major impact of the ongoing uncertainty over the US tariffs on India’s economy. This is subject to retaliatory tariffs coming into the picture, which we do not foresee.” He a...

August 1, 2025 10:27 PM

India’s forex reserves rise by $2.7 billion to $698.19 billion

India’s foreign exchange reserves increased by $2.7 billion to reach $698.19 billion for the week ending July 25, according to data released by the Reserve Bank of India (RBI) on Friday. The rise was led by foreign currency assets, which went up by $1.31 billion to $588.93 billion. These assets, expressed in dollar terms, include the impact of changes in the value of other major currencies such as the Euro, Pound, and Yen held in the reserves. Gold reserves also contributed to the growth, i...

July 30, 2025 4:36 PM

Skilled Workforce Drives India’s Rise as the World’s Leading Remittance Recipient

Thanks to the demographic dividend, with 65% of India’s population being under 35 years of age, and India being the largest provider of human resources in the world, with the largest pool of STEM graduates (STEM: Science, Technology, Engineering, and Mathematics) (according to an EY study), the country continues to remain the largest recipient of inward remittances — a trend maintained since 2008, according to the World Bank. In 2001, India’s share in the world’s total remittances was 11...

July 29, 2025 3:31 PM

India’s digital payments index rises sharply to 493.22, says RBI

Signalling India’s accelerating digital payments revolution, the Reserve Bank of India (RBI) on Monday announced that its Digital Payments Index (RBI-DPI) surged to 493.22 in March 2025, up from 465.33 in September 2024. The RBI-DPI, introduced in January 2021 with March 2018 as the base period set at 100, is designed to track the extent of digitalisation in payments across the country. The consistent upward trend reflects India's rapid adoption of digital payment systems, spanning both urban...

July 25, 2025 10:08 PM

Anuradha Thakur nominated as director on RBI Central Board

The Central Government has nominated Anuradha Thakur, Secretary of the Department of Economic Affairs, as a Director on the Central Board of the Reserve Bank of India (RBI), replacing Ajay Seth. According to an official release issued on Friday, Thakur's appointment is effective from July 24, and will remain in effect until further notice. Earlier in the day, RBI Governor Sanjay Malhotra stated that the Reserve Bank’s monetary policies are forward-looking, with the Monetary Policy Committee ...