Inflation target retained at 6.7%; trajectory remains uncertain: Governor
Das reiterated on Friday the RBI does not target any particular level for the domestic exchange rate and only intervenes in the market to smoothen out excessive volatility
Das says RBI won't make public the communication on failure of achieving target to govt
'Net LAF continues to be in surplus for the past two years, except for 2-3 days when because of SLF for the primary dealers it became deficit'
RBI which announced the review of policy today, decided to increase the policy repo rate by 50 bps to 5.9%
The MPC also cut its FY23 GDP growth forecast to 7 per cent from 7.2 per cent, with Governor Shaktikanta Das acknowledging that there were downside risks to economic growth
Finally, the RBI is right in not providing a forward guidance in the current uncertain environment but providing a detailed explanation of keeping the stance unchanged
Roughly 350 million tokens have been created so far, Rabi Sankar said in the post-monetary policy press conference.
Mortgage lender HDFC Ltd on Friday hiked its lending rate by 50 basis points hours after the Reserve Bank raised the benchmark interest rate to tame inflation. The move would increase EMIs for housing loans by the firm. "HDFC increases its Retail Prime Lending Rate (RPLR) on Housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 50 basis points, with effect from October 1, 2022," the country's biggest housing finance company said in a statement. This is the seventh rate increase undertaken by HDFC in the last five months. Other financial institutions and banks are also expected to follow suit after the RBI on Friday raised the key interest rate by 50 basis points, the fourth straight increase since May. The Monetary Policy Committee (MPC), comprising three members from the RBI and three external experts, raised the key lending rate or the repo rate to 5.90 per cent -- the highest since April 2019 -- with five out of the six members voting in favour of th
CLOSING BELL: The benchmark indices snapped their seven-day losing streak as the RBI delivered a 50-basis point repo rate hike, and underscored the resilience of the Indian economy in his statement
Reserve Bank of India Governor Shaktikanta Das on Friday said that currency movements are not the guiding factors for monetary policy decisions. He said currency management is the domain of RBI and that it will deploy all the appropriate measures on the same. The Monetary Policy Committee, which decided to go for a rate hike of 0.50 per cent earlier in the day, takes into account domestic factors on inflation and growth while formulating its rates strategy, Das told reporters during the customary post-policy press conference. He said the primacy is given to inflation while the aspect of growth is also looked into. On liquidity, Das said there should not be any worries about tightness and that the system wide funds availability was more than Rs 5 lakh crore. Deputy Governor T Rabi Sankar said rupee trade proposals have been received from four to five countries and many banks. He did not provide further details.
Central bank will have to write to government explaining the reasons of its failure to contain inflation up to 6%
Banks now make loan loss provisions on incurred loss model, wherein provisions are made after defaults
The reluctance of the RBI to change stance from 'withdrawal of accommodation' indicates that more monetary policy tightening is likely to be in the pipeline, analysts said
On Friday, RBI increased the repo rate by 50 basis points taking the key repo rate to 5.9%; here is why it should matter to you
CPI inflation for the current financial year is seen at 6.7%, with the price gauge seen at 7.1% in July-September
RBI Monetary Policy Live update: This would be the fourth hike in the policy repo rate by the Reserve Bank of India, which is currently at 5.4%
Currency closes at 81.85/$, 9 p higher than previous close
Stocks to Watch today: Hero MotoCorp said it will invest USD 60 million (about Rs 490 crore) in US-based Zero Motorcycles to jointly develop electric motorcycles
CLOSING BELL: ITC, Dr Reddy's Labs, Tata Steel, Sun Pharma, M&M, NTPC, and Nestle India were the top large-cap winners, while Asian Paints, Tech M, Wipro, TCS, Titan, Kotak Bank sank