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Shaktikanta Das

Loans to get costlier as RBI increases repo rate by 50 bps

New Delhi: The Reserve Bank of India (RBI) has increased the repo rate, the rate at which it lends to banks, by 50 basis points. The repo rate now stands at 4.9 per cent. RBI Governor Shaktikanta Das announced the decision of the monetary policy committee to increase in the lending rate. The MPC has...

RBI raises repo rate by 40 bps; EMIs to get bigger  

Sensex falls 1,200 points following the hike   New Delhi: The equated monthly installments (EMIs) on loans are all set to get bigger. Reserve Bank of India (RBI) Govrnor Shaktikanta Das on Wednesday announced an increase of 40 bps in the repo rate with immediate effect. The new rate is now 4.4 per cent. The...

RBI reduces growth forecast, keeps key rates unchanged

Reverse repo rate raised by 40 bps   New Delhi: The Reserve Bank of India (RBI) has kept the benchmark repo rate unchanged once again. This is for the 11th time that the rate has remained unchanged. However, the Monetary Policy Committee has reduced the forecast for growth. The inflation is predicted to rise further....

RBI keeps repo, reverse repo rates unchanged; real GDP growth projected at 7.8%

New Delhi: The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has decided to keep the policy repo and reverse repo rates unchanged. While the repo rate continues to be 4 per cent, the reverse repo rate is 3.35 per cent. RBI Governor Shaktikanta Das announced the decisions of the MPC on...

New RBI schemes will expand scope of investment in country, says PM Modi

PM Modi launched 2 customer-centric RBI schemes on Friday New Delhi: Prime Minister Narendra Modi on Friday launched two customer-centric initiatives of Reserve Bank of India (RBI) via video conferencing. The two schemes are Retail Direct Scheme and the Reserve Bank – Integrated Ombudsman Scheme. Union Minister of Finance and Corporate Affairs Nirmala Sitharaman and...

RBI Governor Shaktikanta Das gets 3-year extension

New Delhi: Reserve Bank of India Governor Shaktikanta Das has been given an extension of three years till December 2024, as per an official order. This is the first time since the current BJP government came to power that an RBI Governor has got an extension. Earlier Governors either resigned (Urjit Patel), or went to...

RBI cuts repo, reverse repo rate to contain economic impact of coronavirus pandemic

The Reserve Bank of India (RBI) on Friday unexpectedly cut its repo rate by 40 basis points for a second time this year after an off-cycle policy review to counter the economic fallout from an ongoing nationwide lockdown to contain the spread of the coronavirus disease. RBI governor Shaktikanta Das said the short-term lending rate...

RBI cuts reverse repo rate by 25 basis points to push banks towards lending

The Reserve Bank of India (RBI) unexpectedly cut its key deposit rate for the second time in three weeks on Friday to discourage banks for parking idle funds with it and push them toward lending to revive the flagging economy amid the coronavirus lockdown. The RBI cut its reverse repo rate by 25 basis points...

IMF’s growth projection for India highest among G-20 nations: Shaktikanta Das

Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said India is expected to post a sharp turnaround in the financial year 2021-22. Quoting projections made by the International Monetary Fund (IMF), Shaktikanta Das said the IMF’s projection of 1.9 per cent GDP growth for India is the highest among G-20 nations. The G-20...

RBI extends Rs60K crore credit line to scam-hit Yes Bank

In a bid to tide over the liquidity crunch, the Reserve Bank of India (RBI) has extended Rs60,000-crore credit line to Yes Bank so that it meets the obligation of depositors, sources said. This is in line with an assurance given by RBI Governor Shaktikanta Das on Monday saying the regulator was ready to offer...