IAS officer Sanjay Malhotra has been appointed as the 26th RBI Governor, succeeding Shaktikanta Das. With inflation at 6.2 per cent and GDP growth slowing, Malhotra faces critical decisions on India’s monetary policy.
Shaktikanta Das, the outgoing RBI Governor, made six pivotal policy decisions during his tenure, from navigating the COVID-19 crisis to introducing India’s Digital Rupee. Know about his lasting impact on India’s economic landscape.
Sanjay Malhotra, who is currently serving as the Revenue Secretary in the Finance Ministry will now replace Shaktikanta Das, whose tenure comes to an end on Tuesday, December 10.
Credit line on UPI has the potential to make available low-ticket, low-tenor products to "new-to-credit" customers, RBI Governor Shaktikanta Das said.
Earlier in the day, the RBI Governor was admitted to Apollo Hospital in Chennai after he experienced acidity. After initial examination, he was diagnosed with acidity.
RBI Governor Health Update: Giving an update on his health, the RBI said there's no cause for concern and he will be discharged in a few hours.
The Reserve Bank of India Governor as ex-officio chairman of the Monetary Policy Committee commenced the three-day meeting on October 7 which concluded today. It was anticipated that the repo rate would be reduced this time considering the rate cuts by the US Feds.
The 3-day Monetary Policy Committee (MPC) meeting will conclude on October 9. The outcome of the meeting is eagerly awaited as the RBI has kept the repo rate steady for the last nine consecutive months.
Das also stressed on improving female labour force participation in India as it is lower than global average
Reserve Bank Governor Shaktikanta Das said India is now a fast-growing economic powerhouse and stressed that financial institutions and fintech must swiftly adopt a robust framework to capitalise on new opportunities and mitigate risks.
Denmark's Christian Kettel Thomsen and Switzerland's Thomas Jordan, Das was recognised for his effective management of inflation, economic growth, currency stability, and interest rates. This accolade highlights his successful monetary policies amidst global economic challenges.
RBI Governor Shaktikanta Das has been awarded an "A+" rating by Global Finance magazine, making him one of only three central bank governors globally to receive the top distinction for the second consecutive year. The rating recognises Das's leadership in navigating India's economic challenges.
Finance Minister Nirmala Sitharaman urged banks to prioritise their core business activities, emphasising the necessity of collecting deposits and lending with increased strictness.
RBI Governor Shaktikanta Das made several significant announcements today. Let's understand how these changes might impact the general public.
RBI Governor Shaktikanta Das also proposed creating a public repository of digital lending apps to curb unauthorized players and expressed concerns over the rising disbursals of top-up home loans.
The Reserve Bank of India (RBI) has proposed a new facility to allow automatic replenishment of UPI Lite wallets to promote small-value digital payments. Currently, UPI Lite has a daily limit of Rs 2,000 and a per-transaction limit of Rs 500.
RBI Governor Shaktikanta Das revealed the next set of monetary policies on Friday morning. Earlier, experts anticipated that the RBI will maintain the benchmark interest rate at 6.5%, unchanged since February 2023, due to inflation concerns.
The Reserve Bank of India (RBI), led by Governor Shaktikanta Das, has announced the decision to maintain the Policy Repo Rate at 6.5%. This steady stance indicates a deliberate approach towards economic stability.
The monetary policy committe led by Shaktikanta Das has kept the repo rates unchanged at 6.50 per cent.
The RBI has kept the repo rate steady at 6.50 per cent over the past year, last raising it in February 2023 from 6.25 per cent.
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