From 1991 onwards, the RBI became a full, if slightly junior, partner of the finance ministry, instead of being a 'mere subordinate department of the financial ministry'
Which of the two approaches proves most effective will shape the lessons a generation of officials take from the pandemic.
The Reserve Bank of India (RBI) kept interest rates steady at record lows on Friday and reiterated its commitment to keeping policy accommodative as a ferocious second wave of Covid-19 infections threatens to derail the country's economic recovery. RBI Governor Shaktikanta Das said all six members of the MPC voted in favour of keeping rates on hold and maintaining an accommodative monetary policy stance. Watch the video for all the key announcements. >
In April, the six-member monetary policy committee had voted unanimously for a status quo on the key rates
Despite admitting to price pressures both from food items and input prices, RBI Governor Shaktikanta Das hoped that a normal Southwest monsoon will have a "soothing impact" on inflation pressures
Reserve Bank is running some of its key operations from a 250-member-strong quarantine centre -- a souped-down version of war-room it had set up in mid-March last year, says Governor Shaktikanta Das
The RBI has announced a few steps to encourage small finance banks (SFBs) to increase the credit flow to small borrowers
Unless the Reserve Bank comes forward and helps banks to handhold the MSME borrowers, bad loans will swell in the September quarter
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Narasimham also founded the credit planning cell in RBI, which became the monetary policy department
What really became the centerpiece of the policy outcome was the announcement of the secondary market G-sec acquisition programme which the bond market needed the most
The Reserve Bank of India has retained the economic growth projection for the current financial year at 10.5%. In a statement after the first Monetary Policy Committee (MPC), RBI Governor Shaktikanta Das said the recent surge in Covid-19 infections adds uncertainty to the domestic growth outlook amidst tightening of restrictions by some state governments. In this comprehensive video, we have compiled all the important announcements in eleven different points. Watch it now.
The Reserve Bank of India (RBI) has expectedly left interest rates unchanged and maintained an accommodative stance as the economy faces a renewed threat to growth due to the resurgence of coronavirus cases. The Monetary Policy Committee (MPC) also kept its estimate for economic growth unchanged at 10.5 per cent for the current fiscal. Watch the video for the major highlights of RBI Governor Shaktikanta Das's statement on policy.
Chakrabarty was the deputy governor of the central bank between June 15, 2009 and April 25, 2014 when he left office three months before to his term ended
The sector has been rendered vulnerable by the pandemic necessitating concerted effected effects to combat the stress and focus on the revival of the sector
Das said the momentum is likely to sustain
This is the fourth time in a row that MPC has decided to keep the policy rate unchanged at 4%. The central bank had slashed the repo rate by 115 basis points since late March 2020 to support growth
RBI governor warned earlier this week about the rally, citing the disconnect between the markets and the economy as well as expectations that bad-loan ratios at lenders will almost double this year
Economists praise Shaktikanta Das for his pragmatism and willingness to face challenges head on
Reserve Bank Governor on Friday said growth rate is likely to turn positive in the second half of the current financial year.