New Delhi, May 8 (IANS) Economists on Friday said they do not expect the Reserve Bank of India (RBI) monetary policy committee to exhibit any urgency to tighten policy as yet amid fast-evolving geopolitical situation.RBI Governor Sanjay Malhotra said last month that Central Bank is closely monitoring the fallout from the West Asia conflict and will not make firm commitments on the future path of policy rates.He signalled that the central bank was in no hurry to move on rates. “We are in a wait-a…
Latest Reserve Bank of India News & Updates
New Delhi, May 7 (IANS) Indian banks are well-placed to weather the shift to the Reserve Bank of India’s (RBI) expected credit loss (ECL) framework, set to take effect on April 1, 2027, according to a report released on Thursday.As per analysis by Fitch Ratings, the move to an ECL-based provisioning system is unlikely to disrupt the Indian banking sector, given that lenders have spent recent years strengthening their balance sheets and building healthier provisioning buffers.The new framework,…
New Delhi, May 6 (IANS) India and Vietnam have agreed to further strengthen economic relations and work towards enhancing bilateral trade to $25 billion by 2030, according to a joint statement issued by both countries on Wednesday.The joint statement was issued after talks between Prime Minister Narendra Modi and Vietnam President To Lam, who is on an official visit to India. “The two sides agreed to reinforce cooperation between the two rapidly growing economies at the level of governments and …
New Delhi, May 6 (IANS) India and Vietnam on Wednesday reaffirmed their commitment to strengthening cooperation in the health sector, along with reiterating the significance of linking digital technologies like UPI-based retail payments between the two countries.In a joint statement after a press meet here, Prime Minister Narendra Modi and visiting Vietnamese President To Lam acknowledged the advancements made by the Indian pharmaceutical industry.The two sides agreed to explore ways for the pot…
New Delhi, May 5 (IANS) A fire broke out at the Reserve Bank of India (RBI) building here on Tuesday afternoon, but was controlled soon in a swift response from firefighting teams. No injuries or casualties were reported in the incident, officials said.According to officials, the blaze originated from a box containing solar panels within the premises.Firefighters were alerted to the situation at around 1.05 pm, following which five fire tenders were rushed to the spot.The fire was brought under …
New Delhi, May 5 (IANS) India’s banking, financial services and insurance (BFSI) sector remains largely stable despite global economic uncertainty, while segments such as hospitality, aviation and logistics are more directly impacted by external shocks, Deepak Parekh, former Chairman of HDFC Ltd (which merged into HDFC Bank Ltd), said on Tuesday.On the sidelines of the 2nd Edition CII BFSI Summit 2026, Parekh told media there is no major cause of concern for the banking, financial services and…
Mumbai, May 4 (IANS) The Reserve Bank of India (RBI) has assigned newly appointed Deputy Governor Rohit Jain charge of several critical verticals, including the foreign exchange and fintech departments, as part of a broader portfolio allocation following his appointment.Jain, who succeeds former Deputy Governor T Rabi Sankar, will oversee as many as 10 departments in his new role.These include the Corporate Strategy and Budget Department, Department of External Investments and Operations, Depart…
Mumbai, May 4 (IANS) The Reserve Bank of India (RBI) and the Insurance Regulatory and Development Authority of India (IRDAI) are not in favour of allowing banks and insurance companies to participate in the commodity derivatives market, Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey said on Monday.Speaking on the sidelines of the IMC Capital Markets Conference at the NSE, Pandey said both regulators have a “valid rationale” behind their stance and are not favourabl…
New Delhi, May 4 (IANS) Indian banks are well positioned to implement the Reserve Bank of India’s new Expected Credit Loss (ECL) framework and absorb the initial impact on its capital, a report said on Monday.The report from CareEdge Ratings said that the sector’s strong Capital Adequacy Ratio of over 17 per cent and a Common Equity Tier I ratio exceeding 14.5 per cent, provide adequate room for the change.The ratings agency estimated that the impact of shifting to ECL models would be roughl…
New Delhi, May 2 (IANS) The government has appointed Rohit Jain as a deputy governor of the Reserve Bank of India, according to an official notification.Jain’s appointment will take effect from May 3 and will be for a tenure of three years, the notification said.He is currently serving as an executive director at the central bank.Jain succeeds T. Rabi Sankar, who retired late last month. His portfolio allocation as deputy governor is yet to be announced.The appointment comes at a time when the…