The then RBI governor Mr Raghuram Rajan felt that bad bank creates a moral hazard enabling banks to continue with their reckless lending practices. CPI inflation is projected at 6.8% in Q2 of 2020-21. "I … Addressing the fact that global financial markets remain volatile, RBI Governor Shaktikanta Das in a video address on Friday said that India is expected to show a sharp turnaround in FY22, when the COVID-19 crisis is over. On March 27, it had given term-loan borrowers the option of a moratorium on loan repayments for 90 days for the money due in March, April and May with the assurance that it will not affect credit scores. Find New Rbi Governor Latest News, Videos & Pictures on New Rbi Governor and see latest updates, news, information from NDTV.COM. Viral Acharya, who was appointed as the RBI deputy governor on January 23, 2017 for a three-year term, had in October 2018 raised concern over the importance of RBI's independence. Subsequently, large favourable base effects are expected to pull it down to 5.4% in Q3, and 4.5% confidence intervals for headline inflation in Q4 of 2020-21 are 3.2-5.9% and 2.4-6.6%, respectively, RBI said in the policy statement. RBI Governor Shaktikanta Das said RTGS system will soon be made available 24x7 in the next few days ... the statement on Developmental and Regulatory Policies by the Reserve Bank of India (RBI) said. RBI Governor Shaktikanta Das said, "Even as the growth outlook has improved, downside risks to growth continue due to a recent surge in infections in … Get more Personal Finance News and Business News on Zee Business. Mumbai: With the Budget-making exercise in full swing, RBI Governor Shaktikanta Das on Friday said Budget 2021-22 is expected to be prudent and growth oriented. ... Read More News on. 'Corporate houses in banking a bad idea': Rajan, Acharya slam RBI panel recommendations. Tomorrow is different. There seems finally some good news for the crisis-ridden Punjab and Maharashtra Co-operative Bank (PMC). The RBI Governor expects a sharp V-shaped recovery for India as projected by the IMF in 2021-22. In a notification, the central bank said that rather than opening a new current account, all transactions should be routed through Cash Credit (CC) or OverDraft (OD) account. Patel will start his four-year tenure on June 22, succeeding former NIPFP chairman, Vijay Laxman Kelkar.Former RBI Governor Urjit Patel appointed as NIPFP Chariman, to replace Vijay Kelkar. Such a move will improve the security of digital payment channels and also convenience for users, Das said in a statement released after the bi-monthly review of the monetary policy in which RBI opted for a status quo in rates. RBI Governor Shaktikanta Das said he is asymptomatic and will work from isolation. On Thursday, he said that the pick-up in recovery has been stronger … The reverse repo rate also remains steady at 3.35 percent, the RBI Governor said in a statement. RBI Monetary Policy: Governor Shaktikanta Das to announce MPC decisions at 10 am today The Reserve Bank of India on Friday kept its benchmark policy rate unchanged at 4 … Reserve Bank of India Governor Shaktikanta Das has said four banks under the Prompt Corrective Action (PCA) framework are taking efforts and they are being monitored. In a series of tweets, Chidambaram said the economy will not revive smartly unless the government puts money in the hands of the bottom half of the families in India and puts food on the plates of the poor. Read latest news and live updates on Rbi-governor including breaking news on Rbi-governor,Rbi-governor photos,Rbi-governor videos and many more at cnbctv18.com. With the Budget-making exercise in full swing, RBI Governor Shaktikanta Das on Friday said Budget 2021-22 is expected to be prudent and growth oriented. But Das and his men know that this easy money has helped to push down mortgage rates and lower cost of funds for corporates. "I do not agree that we are likely to face a situation of stagflation," Das told the newspaper in an interview published on Monday. Thank you everyone for your good wishes for my early recovery," the central bank governor said in a tweet. Banks would continue to be in a position of primacy in finance with them adopting technologies, RBI chief Shaktikanta Das said. Trying to calm bank depositors' fears, RBI Governor Shaktikanta Das said that the central bank's actions are always in the legal framework of law and in the best interest of depositors. The Governor said that the fiscal and monetary policies in India are working in close symmetry. The reconstituted MPC, which met from October 7 to 9, had decided to keep the benchmark lending rates unchanged in view of the hardening of retail inflation. Former Reserve Bank of India (RBI) governor Urijit Patel has been appointed as the chairperson of National Institute of Public Finance and Policy (NIPFP), an official statement said on Friday. The RBI, even after one year is yet to get success in finding a rescuer for Punjab and Maharashtra Co-operative Bank. New Delhi [India], October 25 (ANI): Reserve Bank of India (RBI) Governor Shaktikanta Das on Sunday tested positive for COVID-19. Here is the full text of the RBI Governor's address: "It is when the horizon is the darkest and human reason is beaten down to the ground that faith shines brightest and comes to our rescue." With banking taking on an increasingly digital accent each passing day, Mint Road is now buttressing standards around grievance resolution and customer protection to ensure continued confidence in the burgeoning virtual channels that are crucial for financial inclusion. The regulatory clampdown on HDFC Bank came up prominently at the post-policy media interaction with Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday. "Proactively, it is necessary for both public and private sector banks to build up adequate capital buffers," Das said at SBI's banking and economic conclave. For reprint rights: Invest more in IT infrastructure for better reach: RBI Governor. Addressing the media after the customary post-budget meeting between the Finance Minister and the RBI, Governor Shaktikanta Das talked about the improving transmission of the rate cuts they had announced last year, the AGR ruling by the Supreme Court and growth projections. The sudden announcement on Tuesday evening to impose a moratorium that restricts LVB customers from withdrawing money for a month is ostensibly aimed at facilitating the `deal’ and saving a failed bank. Covid may lead to higher NPAs and capital erosion of banks, while MFs may turn a stress point, Das has said. Post lockdown credit flows, with special focus on credit flows to MSMEs has also been discussed. The six-member Monetary Policy Committee (MPC) headed by the RBI Governor is scheduled to announce its decision on August 6.This is the 24th meeting of MPC. Without specifying RBI, he said there is a need for regulators to consult all the stakeholders as that is when one gets a "feel of the market.". Rural economy, which accounts for 65 per cent of population and 25 per cent of GDP, is actually proven to be a buffer because of expanded MGNREGA spending...," he said at a webinar organised by economic think tank NCAER. On Wednesday (September 9), Sitharaman had said at a press conference that Finance Ministry has no direct involvement in the PMC Bank case because it is a cooperative bank and RBI is the regulator for cooperative banks, including the PMC Bank. “Please do not extend the moratorium because we see that even people who have the ability to pay whether it’s individuals or corporates are taking advantage under moratorium and deferring payments,” Parekh appealed to RBI Governor Shaktikanta Das. As per government data, GDP during the April-June quarter contracted 23.9 per cent on account of the strict lockdown imposed by the government towards end of March to check the spread of coronavirus infections. Transmission of rate cuts improving; inflation spike factored in, says RBI Governor February 16, 2020 1:07 am The focus has to be on productivity and quality of our products and services,”Right time for India to make efforts to become part of Global Value Chains: RBI Governor. The governor said that the RBI has not taken any decision on the bank licences so far and the recommendations in this regard are from an Internal Working Group. The government and the RBI have held that borrowers should not be compensated at the expense of depositors. >> Inflation forecast: The RBI governor said inflation is likely to remain elevated with some relief in the winter months. The priority is to undertake "strong and purposeful action" to protect the economy, the RBI chief said Reserve Bank of India (RBI) Governor Shaktikanta Das … Mumbai: Reserve Bank of India (RBI) Governor Shaktikanta Das, 63, tested positive for Covid-19, he announced in a Twitter post on Sunday. Addressing the media, Das said on April 14, International Monetary Fund released its global growth projections, revealing that in 2020, the global economy is expected to plunge into the worst recession since 'The Great Depression'. Allowing corporates to promote banks is not the RBI's view, and the central bank will take a decision on it and other suggestions made by an internal panel recently only after perusing public comments, Governor Shaktikanta Das said on Friday.. The NPCI is RBI's payment governance arm and is owned by a consortium of top Indian banks. PM-WANI: PM Modi lauds scheme, calls it historic; know how it benefits you. RBI Governor Shaktikanta Das Tuesday slashed the policy rate, flushed the financial system with liquidity using multiple instruments, and used conventional as well as unconventional tools to support the economy. 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"Second round of effects of the pandemic could operate through a slowdown in the domestic economic growth and it would obviously be a result of synchronised slowdown in global growth and as a part of that, the growth momentum in India would also be impacted somewhat", says RBI Governor Shaktikanta Das addressing the media.Covid-19 to impact domestic as well global growth: RBI governor. "After witnessing a sharp contraction in the economy by 23.9 per cent in Q1 and a multi-speed normalisation of activity in Q2, the Indian economy has exhibited stronger than expected pick-up in momentum of recovery," Das said. There are currently 140 member banks using the UPI rails to enable payments for customers across the banking sector. Even the Economic Survey 2017 had proposed this idea, suggesting the creation of a bad bank called Public Sector Asset Rehabilitation Agency (PARA) to help tide over the problem of stressed assets. Former Reserve Bank of India (RBI) Governor Raghuram Rajan and his then deputy Viral Acharya have opposed the idea of allowing industrial houses to own bank licenses calling the move “disastrous”. Former Reserve Bank of India (RBI) governor Raghuram Rajan and former deputy governor Viral Acharya believe that the move to let large corporations own … The Indian economy has exhibited a stronger than expected rebound, Reserve Bank of India Governor, Shaktikanta Das said.Das also said that we need to … A day before the release of the second-quarter growth numbers, Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said the economy had exhibited a stronger-than-expected pick-up in momentum of recovery, but warned that the recent surge in Covid-19 infections in advanced economies and parts of India continued to pose a potent risk to growth. Dalal Street really does not care. Das said he is asymptomatic and has alerted those who came in contact with him in recent days. This was the 24th meeting of the MPC. "I think the fiscal stimulus is already there... What you need is to spend the total amount of expenditure that you have already announced and implement what has been announced so far. Govt's Covid check wasn't enough when it was announced. However, the repo rate remains unchanged. The Indian government has announced several initiatives to help the poor and small- and medium-size businesses, but actual cash outgo from the government's measures has been estimated at just about 1% of GDP. 10.30 am: RBI to announce new measures to maintain adequate liquidity in system, facilitate bank credit flow, ease financial stress: RBI Governor. Currently, RTGS is available for customers from 7.00 am to 6.00 pm on all working days of a week, except second and fourth Saturdays of every month. The Reserve Bank of India (RBI) governor Shaktikanta Das said that the Monetary Policy Committee (MPC) voted unanimously to keep the repo rate unchanged. PM Modi praises RBI, says decision will provide relief to farmers, poor and small businessmen. The comments, which came after a massive correction in banking stocks following the Yes Bank crisis and coronavirus outbreak, also urged depositors not to resort to panic withdrawals. Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. RBI Governor Shaktikanta Das (Express photo by Tashi Tobgyal) Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said that the Indian economy has exhibited a stronger-than-expected rebound over the past few months but added that institutions need to be watchful of demand sustainability after the festive season. India’s banking sector has been faced with many challenges. », ICICI Prudential Bluechip Fund Direct-Growth. The RBI gave almost everyone the much-needed Friday thrill. Latest News Choose date and time: Thu 17 Sep Wed 16 Sep Tue 15 Sep Mon 14 Sep Sun 13 Sep Sat 12 Sep Fri 11 Sep Thu 10 Sep Wed 9 Sep Tue 8 Sep Mon 7 Sep Sun 6 Sep Sat 5 Sep Fri 4 Sep Thu 3 Sep Wed 2 Sep Tue 1 Sep Mon 31 Aug Sun 30 Aug Sat 29 Aug Fri 28 Aug Thu 27 Aug Wed 26 Aug Tue 25 Aug Mon 24 Aug Sun 23 Aug Sat 22 Aug Fri 21 Aug Thu 20 Aug Wed 19 Aug Tue 18 Aug × India Business News: Reserve Bank of India (RBI) governor Shaktikanta Das on Friday announced a status quo on the interest rate, forecast a lower GDP contraction for the s Explore more on New Rbi Governor. UPI is an interoperable instant fund transfer technology created by NPCI that enables interbank fund transfer. Furloughed server: I'm frustrated the government isn't doing much New York (CNN Business) Reserve Bank of India Governor Shaktikanta Das has tested positive for Covid-19 but is asymptomatic. 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