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Mumbai: The Reserve Bank Friday decided to cut Cash Reserve Ratio (CRR) by a huge 1 per cent, which will unlock Rs 2.5 lakh crore liquidity to the banking system for lending to productive sectors of the economy. With the reduction in four equal tranches ending November 29, 2025, the CRR would come down to 3 per cent. This means that the commercial banks would have to maintain a lower level of 3 per cent in liquid cash form with the RBI allowing them to have higher funds for lending. The last m ...Read More >
Mumbai (Maharashtra) [India], June 6 (ANI): India's foreign exchange reserves (Forex) are sufficient to meet 11 months of the country's imports and about 96 per cent of external debt, said Governor Sanjay Malhotra while announcing the outcome of the Monetary Policy Committee (MPC) decisions on Friday. The RBI governor expressed confidence, stating that India's external sector is resilient and key external sector vulnerability indicators are improving. 'As of May 30, 2025, India's foreign excha ...Read More >
Mumbai, Jun 6 (PTI) The RBI on Friday cut inflation projections for the current fiscal to 3.7 per cent from the earlier estimate of 4 per cent, as it expects core inflation to remain benign with the easing of international commodity prices. The sub-4 per cent average retail inflation projection is the lowest in recent years. Also Read | Repo Rate Cut: Sensex Welcomes RBI Governor Sanjay Malhotra's Jumbo 50 BPS Rate Cut Announcement, Surges Over 500 Points. The RBI, which cut key policy rate b ...Read More >
Mumbai, June 6: The Indian benchmark indices surged on Friday after the RBI Governor Sanjay Malhotra announced a jumbo 50 bps rate cut -- from 6 per cent to 5.5 per cent -- and a 100 basis point cut in the Cash Reserve Ratio (CRR), from 4 per cent to 3 per cent. The immediate effect of the decision was seen on the Indian stock market. At around 10.46 am, Sensex was trading 505.7 points or 0.62 per cent up at 81,947.74 while the Nifty added 168.40 point or 0.68 per cent at 24,919.30. Nifty Bank ...Read More >
Mumbai (Maharashtra) [India], June 6 (ANI): India's foreign exchange reserves (Forex) are sufficient to meet 11 months of the country's imports and about 96 per cent of external debt, said Governor Sanjay Malhotra while announcing the outcome of the Monetary Policy Committee (MPC) decisions on Friday. The RBI governor expressed confidence, stating that India's external sector is resilient and key external sector vulnerability indicators are improving. Also Read | Citigroup Layoffs: Banking Gia ...Read More >
Mumbai, Jun 6 (PTI) Reserve Bank on Friday decided to cut Cash Reserve Ratio (CRR) by a huge 1 per cent, which will unlock Rs 2.5 lakh crore liquidity to the banking system for lending to productive sectors of the economy. With the reduction in four equal tranches ending November 29, 2025, the CRR would come down to 3 per cent. This means that the commercial banks would have to maintain a lower level of 3 per cent in liquid cash form with the RBI allowing them to have higher funds for lending. ...Read More >
Mumbai: The Indian stock market saw a strong rally on Friday following the Reserve Bank of India's announcement of a significant rate cut. RBI Governor Sanjay Malhotra revealed a 50 basis points (bps) reduction in the repo rate -- from 6% to 5.5% -- along with a 100-bps cut in the Cash Reserve Ratio (CRR), bringing it down from 4% to 3%. The immediate impact was visible on the Indian indices. As of 10:46 am: Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Ltd., noted: " ...Read More >
NEW DELHI: Amid concerns over the recent moderation in net foreign direct investment (FDI) into India, Reserve Bank of India Governor Sanjay Malhotra on Friday sought to provide clarity, urging stakeholders to consider gross FDI figures instead, which present a more accurate picture of India's investment appeal. "While net FDI is important from a foreign exchange reserves management perspective, when it comes to understanding the investment landscape, gross FDI matters far more," Malhotra said ...Read More >
Mumbai, June 6: RBI Governor Sanjay Malhotra on Friday announced a jumbo 50 basis points cut in the repo rate from 6 per cent to 5.5 per cent to spur growth in the economy, as inflation has come down below the lower RBI band of 4 per cent. The RBI Governor also announced a 100 basis points CRR cut, effective in four equal tranches of 25 basis points starting from September 6, October 4, November 1 and November 29. The step is expected to inject Rs 2.5 lakh crore into the banking system, boosting ...Read More >
CHENNAI: Indian equity markets opened on a strong note Friday, buoyed by the Reserve Bank of India's unexpected 50 basis point repo rate cut, which lifted investor sentiment and sparked a broad-based rally from early lows. The BSE Sensex rose 96 points or 0.12% to 81,538, recovering nearly 350 points from the day's intraday low. Similarly, the NSE Nifty50 gained 29 points or 0.12%, trading at 24,780, as markets welcomed the central bank's proactive move to support growth. Market Highlights Th ...Read More >
Mumbai, June 6 (SocialNews.XYZ) RBI Governor Sanjay Malhotra on Friday announced a jumbo 50 basis points cut in the repo rate from 6 per cent to 5.5 per cent to spur growth in the economy, as inflation has come down below the lower RBI band of 4 per cent. A lower policy rate leads to a decline in interest rate on bank loans which makes borrowing easier for consumers as well as businesses resulting in higher consumption and investments in the economy leading to higher growth. However, the effec ...Read More >
New Delhi: The Enforcement Directorate (ED) on Friday carried out searches at 15 places in Mumbai and Kochi in connection with the Mithi River desilting scam that caused a wrongful loss of more than Rs 65 crore to the Brihanmumbai Municipal Corporation (BMC), official sources said. The massive crackdown is underway at the premises across Mumbai and Kochi linked to the accused and suspects as part of an ongoing probe into alleged financial irregularities. According to the sources, the searches ...Read More >
Mumbai, Jun 6 (PTI) The RBI on Friday cut repo rate by a higher-than-expected 50 basis points to prop up growth, which has slowed to a four-year low of 6.5 per cent in FY25. Following the rate cut, the key policy rate eased to a three-year low of 5.5 per cent, providing relief to home, auto and corporate loans borrowers. This is the lowest repo rate in three years. The repo rate -- the rate at which banks borrow funds from the RBI -- had last stood at 5.40 per cent on August 5, 2022. After a ...Read More >
Mumbai: In a significant monetary policy decision, the Reserve Bank of India (RBI) has reduced the repo rate by 50 basis points, bringing it down to 5.5% with immediate effect. The announcement was made by RBI Governor Sanjay Malhotra, following the conclusion of the Monetary Policy Committee (MPC) meeting held over three days -- June 4, 5, and 6. Governor Malhotra stated that the MPC undertook a comprehensive assessment of the domestic and global economic outlook before arriving at the decisio ...Read More >
Mumbai, Jun 6 (PTI) Benchmark equity indices Sensex and Nifty declined in early trade on Friday ahead of the RBI monetary policy outcome. Moreover, a sluggish trend in global equity markets and fresh foreign fund outflow also drove investors to stay on the sidelines. Also Read | Lucknow Toddler Rape Case: Man Accused of Abduction, Sex Assault of 3-Year-Old Girl Killed in UP During Police Encounter. The 30-share BSE Sensex declined 159.93 points to 81,282.11 in early trade. The 50-share NSE Ni ...Read More >
CHENNAI: The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC), led by Governor Sanjay Malhotra, concludes its three-day meeting today (June 6, 2025). Amid escalating global trade tensions stemming from new US tariffs imposed by President Donald Trump, expectations are mounting for an aggressive monetary easing by the RBI. Markets and analysts widely anticipate a 25 basis points (bps) cut, with some forecasting a jumbo 50 bps reduction to sustain domestic growth momentum and offset e ...Read More >
Mumbai, Jun 6 (PTI) Benchmark equity indices Sensex and Nifty declined in early trade on Friday ahead of the RBI monetary policy outcome. Moreover, a sluggish trend in global equity markets and fresh foreign fund outflow also drove investors to stay on the sidelines. The 30-share BSE Sensex declined 159.93 points to 81,282.11 in early trade. The 50-share NSE Nifty dropped 27.65 points to 24,723.25. From the Sensex firms, Tata Motors, Bajaj Finance, ICICI Bank, Bajaj Finserv, Reliance Industri ...Read More >
Mumbai, June 6 (SocialNews.XYZ) The domestic benchmark indices opened flat on Friday ahead of the key RBI monetary policy committee (MPC) decision on the repo rate, as buying was seen in the IT and PSU bank sectors in the early trade. In today's monetary policy, the RBI is likely to cut policy rates by 25 bps, which has already been factored in by the stock market. At around 9.23 am, Sensex was trading 82.43 points or 0.10 per cent down at 81,359.61 while the Nifty declined 7.70 point or 0.03 ...Read More >
Mumbai, June 6 (SocialNews.XYZ) The domestic benchmark indices opened flat on Friday ahead of the key RBI monetary policy committee (MPC) decision on the repo rate, as buying was seen in the IT and PSU bank sectors in the early trade. In today's monetary policy, the RBI is likely to cut policy rates by 25 bps, which has already been factored in by the stock market. At around 9.23 am, Sensex was trading 82.43 points or 0.10 per cent down at 81,359.61 while the Nifty declined 7.70 point or 0.03 ...Read More >
New Delhi | June 6, 2025 - All eyes are on the Reserve Bank of India (RBI) today as the central bank's Monetary Policy Committee (MPC) wraps up its three-day meeting and announces its decision at 10 a.m. RBI Governor Sanjay Malhotra is widely expected to slash the repo rate, but the scale of the cut -- 25 or 50 basis points (bps) -- remains a point of intense debate among economists and market participants. Also Read: Vijay Mallya Issues Rare Message to Kingfisher Employees, Says "I...." Most ...Read More >
NEW DELHI: Former head of Air India and chairman of the Railway Board Ashwani Lohani is the new Prime Ministers Museum and Library (PMML) director. The official order for his appointment was issued on Wednesday. A 1980-batch officer of the Indian Railway Service of Mechanical Engineering (IRSME), Lohani is known for turning around various organisations during his illustrious career. Following his retirement from IRSME service, he joined the GMR Group as the CEO. According to the order dated Ju ...Read More >
Mumbai June 6: The Reserve Bank of India (RBI) Governor Sanjay Malhotra is set to announce the policy repo rate today at 10 AM in Mumbai, as the three-day Monetary Policy Committee (MPC) meeting comes to a close. This policy meeting comes at a time when inflation in the country has been steadily declining. According to the Ministry of Statistics and Programme Implementation, India's retail inflation fell to 3.16 per cent in April, compared to 3.34 per cent in March. The decline in inflation has ...Read More >
Chennai, May 22 (UNI) Tamil Nadu Finance Minister Thangam Thennarasu on Thursday said the nine rigid guidelines imposed by RBI on gold loans was deeply insensitive and urged it to withdraw the new restrictions as it would grvely affect the poor nd middle class who depend on such loans during emergencies. These measures amounted to systematic injustice against the vulnerable and said the RBI should adopt compassionate people-centric policies, he said. In a post on X, he said "I urge the RBI ...Read More >
Mumbai, Feb 10: The rupee on Monday plunged 45 paise and moved closer to the 88 per US dollar-level, weighed down by the strength of the American currency tariff concerns, but eventually settled at 87.45, up 5 paise, following RBI intervention. The American currency gained in the overseas market after US President Donald Trump's plans to impose 25 per cent tariffs on steel and aluminum imports, along with reciprocal tariffs targeting countries taxing US exports. The move has added jitters over ...Read More >
Mumbai, February 7: In a major move to enhance digital security and combat financial fraud, Reserve Bank of India (RBI) Governor Sanjay Malhotra unveiled an exclusive ".bank.in" internet domain for Indian banks while announcing the Monetary Policy on Friday. The initiative aims to help customers distinguish legitimate banking websites from fraudulent ones. "The Reserve Bank shall implement the bank.in exclusive Internet domain for Indian banks," Malhotra said. The RBI has set April 2025 as the ...Read More >
Mumbai (Maharashtra) [India], February 7 (ANI): RBI Governor Sanjay Malhotra on Friday said India can certainly achieve 7 per cent or above growth and that should be what the country should aspire for. "These are difficult questions to answer, but nevertheless, I would like to stick my neck out and say that certainly India can achieve 7 per cent plus growth rate, and we should certainly aspire for," RBI Governor said, when asked whether 7 per cent or above growth rate is achievable, at the post ...Read More >
Mumbai: The RBI is likely to reduce the key interest rate by 25 basis points this week after keeping it on hold for two years, complementing the Union Budget initiatives to push consumption-led demand, though the sliding rupee continues to be a concern. As the retail inflation has remained within the Reserve Bank's comfort zone (less than 6 per cent) for most of the year, the central bank can take rate action to boost growth hit by sluggish consumption, opined experts. The Reserve Bank of Indi ...Read More >
Dec 12 (Reuters) - Following is the text of European Central Bank President Christine Lagarde's statement after the bank's policy meeting on Thursday: Link to statement on ECB website: https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2024/html/ecb.is241212~ce143b3bc8.en.html Good afternoon, the Vice-President and I welcome you to our press conference. The Governing Council today decided to lower the three key ECB interest rates by 25 basis points. In particular, the ...Read More >
The Reserve Bank of India (RBI) has reportedly received a bomb threat. On Thursday afternoon, an official email of ... The Reserve Bank of India (RBI) has reportedly received a bomb threat. On Thursday afternoon, an official email of the RBI was targeted with a threatening message. The email, written in Russian, claimed that the Reserve Bank would be bombed. Following this, the MRA (Mata Ramabai Ambedkar) Marg Police Station has registered a case against an unidentified individual. This email, ...Read More >
New Delhi, Dec 12 (PTI) Terming the 5.4 per cent GDP growth in the second quarter as a "temporary phenomena", FICCI President Harsha Vardhan Agarwal on Thursday said the industry body expects India to achieve 6.5-7 per cent economic growth in the current financial year, while projecting a pick up in private investment. In an interview to PTI, Agarwal, who is also the Vice Chairman & Managing Director of Emami Ltd, said the RBI needs to manoeuvre a "tight-rope balancing act" between inflation an ...Read More >
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