Reserve Bank on Thursday retained the growth and inflation projection at 7.2 per cent and 4.5 per cent respectively for the current fiscal amid expectations of a normal monsoon. In its last bi-monthly monetary policy review in June, RBI had projected real GDP growth and retail inflation at the same.
Posts tagged Rediff
Banks told to use new products to mobilise funds (08-08-2024)
Concerned over household savings moving towards alternative investment avenues, RBI Governor Shaktikanta Das on Thursday asked banks to mobilise deposits through innovative products and services by leveraging their vast branch network. “Banks are taking greater recourse to short-term non-retail deposits and other instruments of liability to meet the incremental credit demand. “This, as I emphasised elsewhere, may potentially expose the banking system to structural liquidity issues,” he said.
India’s forex reserves at record high of $675 bn: Das (08-08-2024)
The country’s forex reserves touched a record high of $675 billion on August 2, Reserve Bank Governor Shaktikanta Das said on Thursday. The previous all-time high for the kitty was $670.857 billion on July 19 this year, and the last reported reserve was $667.386 billion as on July 26. Das said overall, the country’s external sector “remains resilient” as indicated by an improvement in key indicators.
RBI retains repo rate at 6.5% (08-08-2024)
The Reserve Bank of India on Thursday decided to keep the policy rate unchanged for the ninth time in a row, saying food inflation remains stubborn. The rate increase cycle was paused in April last year after six consecutive rate hikes, aggregating to 250 basis points since May 2022.
All That You Wanted to Know about Tata Curvv (08-08-2024)
While the electric version will open for bookings starting August 12, the internal combustion engine (ICE) counterparts will make their debut after September 2, says Rajesh Karkera/Rediff.com.
‘Don’t Panic! India Is An Oasis Of Calm!’ (08-08-2024)
‘The structural story of India is a multi-decadal story.’ ‘One should stay invested in that story and avoid reacting to what is happening globally.’
‘Unemployment Is A Ticking Time Bomb!’ (08-08-2024)
‘The government should come back as a job creator as it did in the 1960s and the 1970s.’
How Banks Plan To Tackle ‘Mule’ Fraud (08-08-2024)
‘A mule operates someone else’s account to transfer illegal money.’
Banks report muted treasury book gains (07-08-2024)
Banks reported muted treasury gains during April-June of FY25 (Q1FY25) following Reserve Bank of India’s (RBI’s) revised norms on investment portfolio effective from April 1, 2024, despite softening of government bond yields. “Banks have reported muted treasury gains during Q1 of FY25 despite softening of yields across the curve. “The main reason was change in the investment valuation and classification guidelines by the RBI.
Competitors unfazed by Flipkart’s 10-min delivery (07-08-2024)
At a time when Flipkart has entered the quick-commerce race with a service called “Minutes”, executives at rival players said they are in a wait-and-watch mode. They said they would be concerned only once the e-commerce firm is able to succeed in this space. The Walmart-owned firm’s quick-commerce service has gone live in some parts of Bengaluru, putting it in competition with firms such as Zepto, Swiggy’s Instamart, and Zomato’s Blinkit.