Tag: Rbi

The rate hike comes on the back of a 40 bps increase effected by RBI at an unscheduled meeting on May 4.

The rate hike comes on the back of a 40 basis points increase effected by RBI at an unscheduled meeting on May 4.

There are certain reports suggesting the finance ministry and the RBI were contemplating to use the faces of other prominent Indians, including Rabindranath Tagore and APJ Abdul Kalam, on banknotes of certain denominations.

Investors also await other macro economic forward looking guidances from the the central bank.

Candidates, who have applied for the post, can download their admit cards by visiting the official website of RBI- www.rbi.org.in.

The latest move comes days after banning the export of wheat in order to control rising inflation and to ensure availability in the domestic market.

Shaktikanta Das said the measures taken by RBI will have a sobering effect on retail prices.

Briefing the Parliamentary Standing Committee on Finance chaired by former minister of state for finance Jayant Sinha, top officials of the RBI, including its governor Shaktikanta Das, clearly expressed their apprehensions about cryptocurrencies and said these pose challenges to the stability of the financial system, sources said.

India's retail inflation accelerated to 7.79 per cent in April, remaining above the tolerance limit of the central bank for a fourth month in a row, data released on Thursday showed.

High-interest rates for vehicle loans due to RBI's move will be an additional blow.

While the news to hike repo rate by 40 basis points (bps) by the Reserve Bank of India (RBI) is likely to impact a variety of sectors, the automotive sector in particular is worried.

The move came just ahead of the Federal Reserve's policy decision, with analysts expecting a similar move by the US central bank as well as the focus shifts to combating runaway price rise, exacerbated by geopolitical tensions.

This is the first-rate hike since August 2018 and the first instance of the MPC making an unscheduled increase in the repo rate (the rate at which banks borrow from the RBI).

As data suggest, its business is largely driven by agent based model (90 per cent plus), hence a larger digital on boarding of its network will be needed to pursue growth ahead.

The directions, which will come into effect from July 1, will cover the general and conduct regulations relating to credit, debit and co-branded cards.