Cryptocurrencies pose huge risks to financial stability: RBI Governor
Business | June 10, 2022 21:05 ISTCryptos and other virtual digital assets are unregulated in India and are considered extremely risky.
Cryptos and other virtual digital assets are unregulated in India and are considered extremely risky.
RBI will remain focused on orderly completion of the government's borrowing programme.
UPI has become the most inclusive mode of payment in India, with over 26 crore unique users and 5 crore merchants onboarded on the platform, RBI Governor Shaktikanta Das said.
RBI Governor Shaktikanta Das said the upside risk to inflation persists and the recent spike in tomato prices would fuel food inflation.
RBI Governor Shaktikanta Das said that there will be some hike but how much I will not be able to tell now... to say that 5.15 (per cent) may not be very accurate.
RBI Governor Shaktikanta Das said that all six members of the MPC unanimously voted for a rate hike to contain inflation that has remained stubbornly above the target of 6 per cent for the last three months.
The RBI takes into account a particular range within which crude prices are expected to fluctuate considering all the factors that can be anticipated and that can be sort of foreseen as of today.
I firmly believe that India has the potential to grow at a reasonably high pace in the post-pandemic scenario, said Reserve Bank of India Governor Shaktikanta Das.
Finance Minister Nirmala Sitharaman also thanked PM Modi for the initiatives. Narendra Modi launched 2 innovative customer-centric initiatives of RBI today.
Reserve Bank Governor Shaktikanta Das said that there is a need to improve the quality and depth of audit as it instils confidence among citizens.
In his address after the three-day meeting of the rate-setting panel, RBI Governor Shaktikanta Das said recovery in aggregate demand gathered pace in August-September, and it is reflected in high-frequency indicators, like railway freight traffic; port cargo; cement production; electricity demand; e-way bills; GST and toll collections.
Addressing AIMA National Management Convention, Das underlined the need for increased investment in healthcare education, digital and physical infrastructure to ensure sustainable growth and generate employment opportunities.
The gross domestic product (GDP) had contracted by 24.4 per cent in the corresponding April-June quarter of 2020-21, according to data released by the National Statistical Office (NSO).
The career bureaucrat-turned-central banker also welcomed the govt's approach to the pandemic-triggered crisis as a prudent and calibrated one.
Reserve Bank of India (RBI) has decided to retain projection for real GDP growth at 9.5% for 2021-22. "The projection for real GDP growth is retained at 9.5% for 2021-22... Consumer Price Index (CPI) inflation is projected at 5.7 % during 2021-22 - this consists of 5.9% in Q2, 5.3% in Q3 and 5.8% in Q4 of 2021-22 with risks broadly balanced. CPI inflation for the first quarter of 2022-23 is projected at 5.1%," said RBI Governor Shaktikanta Das on August 06.
NEFT, RTGS money transfer services has been extended to payments banks by the RBI.
Governor Das said prepaid payments instruments (PPIs) were given the option to become interoperable, wherein customers of one company can send funds to customers of other PPIs or banks.
After enactment of SARFAESI Act in 2002, regulatory guidelines for ARCs were issued in 2003 to enable development of this sector and to facilitate smooth functioning of companies.
The food inflation trajectory will critically depend on temporal and special progress of southwest monsoon in the 2021 season.
The Reserve Bank of India has maintained status quo fifth time in a row on policy rate. The bank has kept repo unchanged at 4 per cent.
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