Mumbai, April 16 (IANS) The Reserve Bank of India (RBI) on Thursday announced it will conduct a Rs 2 lakh crore seven-day variable rate reverse repo (VRRR) auction on April 17 to manage surplus liquidity in the banking system.In a notification, the central bank said the decision comes in view of the prevailing transient surplus liquidity conditions.The auction will be held between 9:30 am and 10:00 am on Friday, with funds scheduled to be reversed on April 24.The move is aimed at absorbing exces…
Latest Sanjay Malhotra News & Updates
New Delhi, April 10 (IANS) The Indian rupee opened nearly 10 paise higher on Friday as the Reserve Bank of India’s (RBI) deadline for banks to unwind their arbitrage positions approached, while traders also tracked rising crude oil prices amid uncertainty over the US-Iran ceasefire.The rupee was trading at 92.57 against the US dollar in early trade, compared to its previous close of 92.66.April 10 is the deadline for banks to unwind excessive positions in the offshore non-deliverable forwards …
Mumbai, April 8 (IANS) Sanjay Malhotra on Wednesday said that the Reserve Bank of India has not found any major governance issues in HDFC Bank, even after the bank’s chairman stepped down citing ethical disagreements.Speaking after the monetary policy announcement, the RBI governor said that based on regular supervision, there are no material concerns about the bank’s governance.“Existing banking laws are clear and effective, and there is currently no need for any changes,” he said.“Ho…
New Delhi, April 8 (IANS) The Reserve Bank of India (RBI) on Wednesday estimated India’s real GDP growth at 7.6 per cent for FY26 under a new GDP series, while flagging emerging risks from geopolitical disruptions.The FY26 growth reflects resilience supported by strong services activity, manufacturing expansion and robust domestic demand.For FY27, the Central Bank has projected growth at 6.9 per cent, indicating a moderation as external risks and cost pressures begin to build, said RBI Governo…
New Delhi, April 8 (IANS) The Reserve Bank of India (RBI) on Wednesday kept the repo rate unchanged at 5.25 per cent, and maintaining the status quo in its latest Monetary Policy Committee (MPC) meeting.The Standing Deposit Facility (SDF) rate has been kept unchanged at 5 per cent, while the Marginal Standing Facility (MSF) rate remains at 5.50 per cent, RBI Governor Sanjay Malhotra said while announcing the MPC decision.The RBI Governor described 2025 as a challenging year, but noted that infla…
New Delhi, Feb 23 (IANS) The Reserve Bank of India (RBI) on Monday said there is no systemic risk to the banking system and stressed that the Central Bank does not comment on individual banks or regulated entities, as IDFC First Bank revealed the Rs 590-crore fraud at its Chandigarh branch.Addressing a joint press conference after a meeting of the RBI’s central board of directors in the national capital, RBI Governor Sanjay Malhotra said the regulator is closely monitoring the situation but th…
New Delhi, Feb 20 (IANS) The Indian economy continues to register high growth despite a challenging external environment clouded by geo-political uncertainties, the latest RBI Bulletin said on Friday, adding that the recent trade agreements with the European Union (EU) and an interim trade deal framework will help the growth momentum stay robust for a longer period. According to Central Bank Governor Sanjay Malhotra, benign inflation provides the leeway to remain growth-supportive while preservi…
Mumbai, Feb 13 (IANS) The Reserve Bank of India (RBI) on Friday issued a draft circular on the revised guidelines of the Lead Bank Scheme for public comments, which can be submitted till March 6.Reserve Bank Governor Sanjay Malhotra had announced, as part of the Statement on Developmental and Regulatory Policies on February 6, that revised guidelines on the Lead Bank Scheme would be issued shortly to streamline the operational aspects.The revised guidelines aim to fine-tune the objectives of the…
New Delhi, Feb 6 (IANS) The recently concluded India-EU free trade agreement (FTA) and the prospective India-US trade deal, along with several other trade agreements, will support exports over the medium-term, RBI Governor Sanjay Malhotra said on Friday.Services exports should remain resilient, he said during the RBI MPC meeting which kept the key policy rate unchanged.However, “the spillovers emanating from geopolitical tensions, volatility in international financial markets and shifting trad…
Mumbai, Feb 6 (IANS) As part of the move to develop a corporate bond market, the RBI plans to issue a regulatory framework soon to enable the introduction of derivatives on credit indices and total return swaps on corporate bonds.RBI Governor Sanjay Malhotra said that an active derivatives market can facilitate efficient management of credit risks, improve liquidity and efficiency in the corporate bond market and facilitate issuance of corporate bonds across the rating spectrum.An announcement w…