Banking

RBI Monetary Policy 5th April 2024: Key Highlights

The Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday announced the first monetary policy of the financial year 2024-25. The two-day review meeting of the RBI’s Monetary Policy Committee (MPC), the rate-setting panel, commenced on April 3 and concluded today, April 5. The RBI decided to keep the key policy repo rate unchanged at 6.5% for the seventh consecutive time. The six-member MPC headed by Governor Das also decided to maintain the policy stance at ‘withdrawal of accommodation’.

Statement on Developmental and Regulatory Policies

RBI Governot has announced several additional regulatory measures through Statement on Developmental and Regulatory Policies.

RBI’s Bi-Monthly Monetary Policy Dt. 8th February 2024 – Key Highlights

The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) has kept repo rates unchanged at 6.5 percent. It has also decided to remain focused on the withdrawal of the accommodative stance, Governor Shaktikanta Das said. This is the sixth consecutive unchanged decision and comes after the Interim Budget was announced on February 1, 2024.

Interim Budget 2024 – Key Highlights and Impact on various sector

India’s Finance Minister Nirmala Sitharaman presented the much-anticipated Interim Budget, outlining the government’s spending plans. Overall Focus of the Budget :
• Meeting the needs and aspirations of the poor, women, youth, and farmers
• Making India a “Viksit Bharat” (Developed India) by 2047
• Focusing on “sabka sath, sabka vikas” (inclusive development)
• Prioritising “GDP” – Governance, Development, and Performance
• All-round, all-pervasive, and all-inclusive approach to development

RBI’s Bi-Monthly Monetary Policy Review 8th June 2023 – Highlights and Key Takeaways

The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Thursday the 8th June 2023, kept the policy repo rate unchanged at 6.5 per cent in a unanimous decision. Governor Shaktikanta Das, while announcing the MPC decision, said that the central bank has retained the withdrawal-of-accommodation stance. This was second time in a row that the RBI opted for a pause in rate hike. The central bank has retained growth projection at 6.5 per cent for FY24, expects 8 per cent growth in Q1, 6.5 per cent in Q2, 6 per cent in Q3, while 5.7 per cent in Q4. “Domestic demand condition remains supportive of growth, while rural demand on revival path,” the governor said.

₹2000 Denomination Banknotes – Withdrawal from Circulation; Will continue as Legal Tender

THE RESERVE Bank of India (RBI) announced the withdrawal of its highest value currency note, Rs 2,000, from circulation, adding that the notes will continue to be legal tender. It said the existing Rs 2,000 notes can be deposited or exchanged in banks until September 30, but set a limit of “Rs 20,000 at a time”.

RBI’s Bi-Monthly Monetary Policy Review dt 8th February 2023 – Key Highlights

The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) on Wednesday hiked the repo rate by 25 basis points to 6.50 per cent. Wednesday’s MPC meeting is the last one for this fiscal. The repo rate is the rate at which the RBI lends to the banks.

Union Budget 2023-24 – Key Highlights, Budget Allocation & Impact on various Sectors

The Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Union Budget 2023-24 in Parliament on 1st February 2023. The Budget has a vision for Amritkaal and has seven Priorities known as Saptrishi 7.

RBI releases 2022 list of Domestic Systemically Important Banks (D-SIBs)

The Reserve Bank had issued the Framework for dealing with Domestic Systemically Important Banks (D-SIBs) on July 22, 2014. The D-SIB framework requires the Reserve Bank to disclose the names of banks designated as D-SIBs starting from 2015 and place these banks in appropriate buckets depending upon their Systemic Importance Scores (SISs). Based on the bucket in which a D-SIB is placed, an additional common equity requirement has to be applied to it. In case a foreign bank having branch presence in India is a Global Systemically Important Bank (G-SIB), it has to maintain additional CET1 capital surcharge in India as applicable to it as a G-SIB, proportionate to its Risk Weighted Assets (RWAs) in India, i.e., additional CET1 buffer prescribed by the home regulator (amount) multiplied by India RWA as per consolidated global Group books divided by total consolidated global Group RWA.

The Reserve Bank had announced SBI and ICICI Bank as D-SIBs in 2015 and 2016. Based on data collected from banks as on March 31, 2017, HDFC Bank was also classified as a D-SIB, along with SBI and ICICI Bank. The current update is based on the data collected from banks as on March 31, 2022.

RBI’s Financial Stability Report, December 2022

The Financial Stability Report (FSR), which reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability and the resilience of the financial system. FSR is published two times in a year.

Category: Banking

Like this:

Like this:

Like this:

Like this:

Like this:

Like this:

Like this:

Like this:

Like this:

Like this:

Key takeaways from the Union Budget Financial Year 2024-25

Nirmala Sitharaman Budget Speech LIVE -Union Budget 2024

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Key takeaways from the Union Budget Financial Year 2024-25

Nirmala Sitharaman Budget Speech LIVE -Union Budget 2024