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RBI’s MPC members stress on controlling inflation

New Delhi, June 22 : Majority of the members of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) have stressed on bringing inflation under control, minutes of the committee's latest meeting showed on Wednesday. The RBI had on June 8 hiked policy repo rate by 50 basis points (bps) to 4.90 per cent with immediate effect. The Monetary Policy Committee (MPC) or rate-setting panel's decision had come close on the heels of an increase in repo rate by 40 basis points in an off-cycle meeting in May.

RBI not behind the curve; rate hikes likely soon: Keki Mistry

Mumbai, April 22 : Amid rising criticisms about RBI's stance of maintaining a status quo on repo rates while the inflation is going up, HDFC Vice-Chairman and CEO Keki Mistry on Friday said that the apex bank is not behind the curve and that 2-3 rate hikes are possible during the year. Speaking at the Times Network's India Economic Conclave, Mistry opined that there is no need for India to do what the US Fed is doing in terms of increasing the rates. "I truly don't believe that we are behind the curve in terms of rates. I believe that there would be rate hikes during the course of the year, maybe 2-3 rate hikes are very much possible. But I don't see that impacting the economy and I certainly don't see the need for India to do what the US Fed is talking of doing and be so sharp in the terms of rate hikes," he added. The comments come at a time when the Reserve Bank of India (RBI) has been criticised for being behind the curve in tackling the inflation risk emanating from global geo-political tensions.

RBI supersedes the Board of Reliance Capital, appoints administrator

New Delhi, Nov 29 : The Reserve Bank of India (RBI) on Monday superseded the Board of Directors of Reliance Capital Ltd (RCL), in view of the defaults by the company in meeting various payment obligations to its creditors and serious governance concerns.

RBI maintains status quo on rates

Mumbai, Jun 4 (UNI) The Reserve Bank of India (RBI) on Friday kept the key rates unaltered for the sixth consecutive time in its June policy review meeting. The Apex Bank lowered its estimate for economic growth to 9.5 per cent for the current fiscal from earlier projection of 10.5 per cent due to the impact of the second Covid-19 wave.

RBI come out with a timely and proactive set of announcements...

Kolkata, May 5 (UNI) RBI has come out with a timely and proactive set of announcements for all stakeholders, including individuals, small businesses, and MSMEs, to mitigate the incipient challenges and support growth impulses at the ground level. Simultaneously, measures have been announced for the lending institutions as well as the State governments to ensure ample liquidity & credit flow support, S.S Mallikarjuna Rao, MD and CEO of Punjab National Bank said on RBI Monetary Policy.

RBI cautions people against unauthorised Digital Lending Platforms, Mobile Apps

Jammu, Dec 24 (UNI) Reserve Bank of India has cautioned the people against unauthorised Digital Lending Platforms/Mobile Apps following the reports about individuals/small businesses falling prey to them on promises of getting loans in quick and hassle-free manner.

RBI extends direction issued to Dr Shivajirao Patil Nilangekar Urban Co-operative...

Mumbai, Dec 14 (UNI) Reserve Bank of India (RBI) has extended Direction given to Dr. Shivajirao Patil Nilangekar Urban Co-operative Bank Ltd., Nilanga, Distt. Latur, Maharashtra for a further period of three months i.e from December 15, 2020 to March 14, 2021, subject to review.

AEPC thanks RBI for scrapping automatic caution-listing system

New Delhi, Oct 9 (UNI) The Apparel Export Promotion Council (AEPC) on Friday thanked Reserve Bank of India (RBI) Governor Shaktikanta Das for discontinuing the automatic caution-listing of exporters saying it had become a threat since the outbreak of coronavirus.

RBI keeps repo rate unchanged at 4 pc

Mumbai, Oct 9 (UNI) The Reserve Bank of India on Friday kept the repo rate unchanged at 4 per cent in its October review meeting. While Reverse Repo was at 3.35 per cent to continue with its accommodative stance as long as necessary - “at least through the current financial year and into the next year to revive growth on a sustainable basis and to mitigate the risks of Covid-19 while ensuring that inflation remains within the target,” RBI Governor Shaktikanta Das said.
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