Reserve Bank of India
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The Reserve Bank of India is expected to begin a rate‑hike cycle as headline inflation and wholesale price inflation accelerate, with the policy repo likely to move closer to 6.5 per cent, a report said on Tuesday.
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The central bank received bids worth Rs 3,93,352 crore against a notified amount of Rs 5 lakh crore and accepted all the bids at a cut-off and weighted average rate of 5.24 per cent, according to an RBI release.
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Malhotra attributed much of the progress in financial inclusion to collaboration between the public and private sectors, but said the next phase should focus on making financial services truly universal and available everywhere.
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Sovereign Gold Bond Scheme are government securities denominated in grams of gold.
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A report by Union Bank of India said it is expected to see two to three rate increases of 25 basis points each from the current 5.25 per cent with the rate hike cycle likely to begin in December under its base-case scenario.
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The RBI has ammended rules pertaining to fixed deposit and tenure, applicable from 1 October.
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A report from SBI Research said the communication from the central bank showed a clear acknowledgement of risks with members adopting a more hawkish tone but the underlying data did not yet warrant an immediate rate hike.
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The RBI also acknowledged that NBFCs are often early adopters of technology-driven lending products and business models and indicated that insights from their experience could help inform regulations for emerging areas.
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The Premature redemption price of SGB shall be based on the simple average of closing gold price of 999 purity of previous three business days from the date of redemption, as published by the India Bullion and Jewellers Association Ltd (IBJA).
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The discussion took place after the RBI Governor Sanjay Malhotra, during last week's Monetary Policy Committee (MPC) meeting, announced that the polymer currency would start circulating from the next financial year.
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MCLR is a benchmark reference rate introduced by the Reserve Bank of India (RBI) to determine the floor rate of interest for different categories of loans.
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The directions, proposed to take effect from April 1, 2027, are aimed at ensuring uniformity and transparency in fixing interest rates on loans and consumer protection.
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The RBI Governor had also said last month that digital infrastructure costs have to be covered, but there is no formal framework or proposal to charge everyday users.
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RBI Governor Sanjay Malhotra made the announcements at the conclusion of the August Monetary Policy Committee (MPC) meeting.
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In his address, RBI Governor Sanjay Malhotra pegged Q1 FY27 GDP growth at 7 per cent, Q2 at 6.4 per cent, Q3 at 6.5 per cent, and Q4 at 6.8 per cent.
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RBI's Monetary Policy Committee that began its three-day policy meeting on Monday decided to maintain status quo on interest rates amid volatile global conditions.
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Many economists expect the six-member MPC to maintain the status quo on interest rates and retain its neutral policy stance.
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RBI Governor Sanjay Malhotra has indicated that the monetary policy review committee would go in for an interest rate hike only if the inflationary pressure becomes more broad-based and not merely driven by temporary supply shocks.
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The policy announcement is expected to provide cues on the outlook for interest rates, liquidity conditions and the broader economy amid an uncertain global environment.
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The revised directions will apply to commercial banks, small finance banks, regional rural banks (RRBs), local area banks, payments banks and urban cooperative banks.
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The Reserve Bank will issue billion pieces each of Rs 10 and Rs 20 polymer currency notes as part of the field trials to be carried out in the country.
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The RBI rules apply to immovable properties that banks acquire during the recovery of bad loans.
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