New Delhi, July 18 (IANS) India has taken its first formal step towards introducing polymer banknotes, with the Reserve Bank of India’s currency printing arm inviting global Expressions of Interest (EoIs) for the supply of polymer substrate sheets embedded with security features, as per multiple reports.Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) has invited eligible domestic and international manufacturers to submit bids by August 18 for manufacturing opacified polymer substrat…
Latest Sanjay Malhotra News & Updates
Mumbai, July 17 (IANS) RBI Governor Sanjay Malhotra said on Friday that India’s fundamentals remain strong, with a decent pace of economic expansion despite geopolitical uncertainties triggered by the West Asia crisis.In an exclusive interview to Doordarshan, the RBI governor also admitted that the ongoing geopolitical tensions in West Asia and a potentially weak monsoon pose key risks to India’s economy.Malhotra defended the performance of the rupee in the backdrop of a strengthening US dol…
Mumbai, July 14 (IANS) The Reserve Bank of India (RBI) on Tuesday held its half-yearly meetings with the Managing Directors and Chief Executive Officers of Public Sector Banks and select Private Sector Banks in Mumbai, with Governor Sanjay Malhotra calling on lenders to harness artificial intelligence (AI), strengthen cybersecurity and maintain a strong customer-centric approach.The meetings were chaired by the RBI Governor and attended by Deputy Governors Swaminathan J., Dr. Poonam Gupta, S. C….
New Delhi, June 30 (IANS) RBI Governor Sanjay Malhotra said on Tuesday that India’s financial system remains a key source of strength and support for the real economy and the country’s growth momentum, as banks and NBFCs remain sound, supported by strong capital and liquidity positions, healthy profitability, low levels of non-performing assets, and robust credit growth.In his foreword to the RBI’s Financial Stability Report, Malhotra said: “The Indian economy and the financial system have…
New Delhi, June 6 (IANS) The Reserve Bank of India (RBI) is examining a proposal to introduce polymer or plastic currency notes, although no final decision has been taken yet, Governor Sanjay Malhotra has said.Malhotra has said that the proposal remains under consideration and is still at a preliminary stage.He stated that as far as polymer notes are concerned, the proposal is under consideration, adding that as soon as any decision is taken on it, we will inform you.Malhotra acknowledged that r…
New Delhi, June 5 (IANS) The Indian rupee appreciated sharply against the US dollar on Friday after the Reserve Bank of India eased investment norms for foreign portfolio investors (FPIs) and announced measures aimed at improving capital flows, boosting investor sentiment.The domestic currency strengthened by 50 paise to 95.24 against the US dollar in intraday trade after opening at 95.72 in the interbank foreign exchange market. The currency had settled at 95.74 against the dollar in the previo…
Mumbai, June 5 (IANS) The Reserve Bank of India (RBI) Governor Sanjay Malhotra on Friday announced that the limits for investment by NRIs and OCIs in equity instruments traded on the stock market without SEBI registration are being increased.Further, the same facility is being extended to all individual Persons Resident Outside India (PROIs) at par with NRIs and OCIs, he remarked during his speech after the Monetary Policy Committee (MPC) meeting.“Third, a facility of concessional forex swap w…
Mumbai, June 5 (IANS) The Reserve Bank of India (RBI) on Friday projected real GDP growth for 2026-27 at 6.6 per cent — with Q1 at 6.6 per cent; Q2 at 6.3 per cent; Q3 at 6.5 per cent; and Q4 at 6.8 per cent — saying that prolonged global supply chain disruptions, volatility in global financial markets, and weather-related shocks continue to pose downside risks to the domestic growth outlook.India’s manufacturing and services PMI suggest that both sectors continue to be resilient, and busine…
New Delhi, June 5 (IANS) The Reserve Bank of India is set to announce its monetary policy decision on Friday after the three-day Monetary Policy Committee meeting — chaired by Governor Sanjay Malhotra — with experts widely expecting the repo rate to remain unchanged amid geopolitical tensions and rising crude oil prices.The policy decision comes against the backdrop of escalating geopolitical tensions in West Asia, which have pushed up crude oil prices.Experts largely anticipate a status quo o…
New Delhi, June 3 (IANS) A pause in interest rates by the Reserve Bank of India’s Monetary Policy Committee (MPC) would help stabilise economic conditions and support growth, State Bank of India (SBI) Chairman CS Setty said on Wednesday.Speaking at the Citi India Conference in Mumbai, Setty said a rate pause at this juncture would help stabilise conditions, while noting that inflation dynamics remain an important factor for policymakers.“Broadly, the market expects that there could be a rate…