Shaktikanta Das

October 9, 2024 2:36 PM

RBI projects 7.2% GDP growth for FY25, CPI inflation expected to moderate to 4.5%

The Reserve Bank of India (RBI) has projected a real GDP growth of 7.2% for the fiscal year 2024-25, along with an expected moderation in Consumer Price Index (CPI) inflation to 4.5%, following the Monetary Policy Committee (MPC) meeting held on Wednesday. RBI Governor Shaktikanta Das said that GDP growth is projected at 7% for Q2, increasing to 7.4% in both Q3 and Q4. For the first quarter of the next financial year (2025-26), growth is anticipated to be 7.3%, with risks evenly balanced across...

October 9, 2024 10:48 AM

RBI keeps repo rate at 6.5%, shifts stance to neutral for inflation-growth balance

The Reserve Bank of India (RBI) on Wednesday kept the policy repo rate steady at 6.5% for the tenth time in a row. Following the Monetary Policy Committee (MPC) meeting, RBI Governor Shaktikanta Das announced that the decision was supported by five out of six MPC members. Other key rates also remained unchanged, with the standing deposit facility (SDF) rate at 6.25% and both the marginal standing facility (MSF) rate and the bank rate at 6.75%. Das also highlighted a shift in the RBI's monetary...

August 21, 2024 3:31 PM

RBI Governor Shaktikanta Das ranked top central banker for second year in a row

Reserve Bank of India (RBI) Governor Shaktikanta Das has received an "A+" rating in the Global Finance Central Banker Report Cards for the second consecutive year. Prime Minister Narendra Modi congratulated Governor Das for achieving the highest rating among central bank chiefs. The annual assessment, conducted by Global Finance magazine, evaluates the performance of central bank governors from nearly 100 key economic regions worldwide. Das shares the top honor with only two other central bank...

September 16, 2024 6:39 PM

RBI keeps repo rate unchanged at 6.5%, ups FY25 GDP forecast to 7.2%

The Reserve Bank of India (RBI) kept the repo rate unchanged at 6.5 percent for the eighth consecutive time on Friday, aiming to bring inflation down to its medium-term target of 4%. The Monetary Policy Committee (MPC), in a majority decision with four out of six members agreeing, opted to hold the repo rate steady. Consequently, the standing deposit facility (SDF) rate remains at 6.25 percent, while the marginal standing facility (MSF) rate and the bank rate remain at 6.75 percent. RBI Govern...

September 16, 2024 5:56 PM

Citing lack of stability, RBI cautions retail investors against investing in cryptocurrencies

The Reserve Bank of India (RBI) has urged retail investors to exercise caution while investing in cryptocurrencies, warning that the crypto ecosystem lacks accountability and stability and is marked by regulatory ambiguity. In its monthly bulletin released Tuesday, the RBI said that the interest in cryptocurrencies is driven by speculative motives rather than as a mode of financial transactions. The RBI assessment aligns with a survey by the UK Financial Conduct Authority (FCA) revealing that ...

September 16, 2024 5:03 PM

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...