Tag: Rbi

RBI Governor Shaktikanta Das said the real GDP growth is projected at 16.2 per cent in Q1FY23, at 6.2 per cent in Q2; at 4.1 per cent in Q3 and Q4 at 4 per cent, assuming that crude oil (Indian basket) price is at $100 per barrel during 2022-23.

The apex bank kept the benchmark interest rate -- repo, at which it lends short-term money to banks -- unchanged at 4 per cent.

MPC has decided to keep benchmark repurchase (repo) rate at 4 per cent, Das said while announcing the bi-monthly monetary policy review.

Earlier this month, CPI inflation came in at an eight-month high of 6.1 per cent YoY in February 2022.

India's foreign exchange reserves rose by $394 million during the week ended March 4. The Reserve Bank of India's forex reserves rose to $631.920 billion from $631.527 billion reported for February 25.

After the three-day meeting of the Monetary Policy Committee (MPC) early this month, RBI decided to keep its key lending rates steady at record low levels for the 10th straight time to support a durable recovery of the economy from the pandemic.

Replying to questions after addressing the RBI's Central Board of Directors here on Monday, Sitharaman said the central bank and the government are on board regarding digital currencies.

MPC has been given the mandate to maintain annual inflation at 4 per cent until March 31, 2026, with an upper tolerance of 6 per cent and a lower tolerance of 2 per cent.

The cyber fraudsters are using innovative techniques via social media, mobile phone calls and SMS to cheat people.

The Reserve Bank of India (RBI) has already been deliberating upon various aspects relating to the central bank digital currency and private crypto currencies.

Fiscal data on a tracking basis has surprised positively, even as spending is tracking above budgeted levels due to the better-than- expected trend in tax collections.

The RBI pointed out that aggregate demand conditions have stayed resilient. "The issuance of E-way bills - an indicator of freight movement - surged to 7.2 crore in December, the second highest in its history.

Retail inflation during December 2021 hardened for the third successive month to 5.6 per cent but was lower than the consensus expectation.

The new status will allow Airtel Payments bank to pitch for government-issued ‘Requests for Proposals' (RFPs) and primary auctions and undertake both Central and state government business besides participating in government-operated welfare schemes.

IMPS, offered by National Payments Corporation of India, empowers customers to transfer money instantly through banks and RBI authorised Prepaid Payment Instrument Issuers (PPI) across India.