RBI Policy Review
MUMBAI - Reserve Bank of India Governor Raghuram Rajan said the central bank could not afford to cut interest rates to reduce foreign flows into the country because of high inflation, according to a domestic media report.
MUMBAI - The Reserve Bank of India (RBI) held interest rates steady on Tuesday, while boosting banks' liquidity in a bid to persuade them to lower lending rates after they failed to pass on the benefits of the last official rate cut three weeks ago.
MUMBAI - The Reserve Bank of India (RBI) has allowed lenders more flexibility to restructure large projects that stall when cash runs out, but stopped short on Tuesday of giving banks freer rein on other problematic loans.
MUMBAI - The Reserve Bank of India and the Securities and Exchange Board of India said a rule announced earlier in the day preventing foreign investors from buying corporate bonds with less than three years remaining until maturity would come into effect immediately.
MUMBAI - The Reserve Bank of India said it would allow foreign funds to re-invest interest earned from government bond coupons back into markets, but kept overall investment limits unchanged and prevented purchases of short-term corporate debt.
MUMBAI - The Reserve Bank of India extended the range of collateral that can be used for repo transactions on the country's interbank market to include bonds issued by multilateral financial institutions such as the World Bank and Asian Development Bank.
MUMBAI - The Reserve Bank of India says it is not locked into a specific number on the fiscal deficit, but will look at the overall budget package before deciding on interest rates, governor Raghuram Rajan told reporters on Tuesday.
MUMBAI - The RBI held interest rates steady at 7.75 percent on Tuesday after easing monetary policy just three weeks ago, leaving its next move probably until after the government presents its annual budget at the end of this month.
MUMBAI - The Reserve Bank of India (RBI) is on "pause" on interest rates until there is more data on the broader economy and prices, but inter-meeting moves remain "on the table", governor Raghuram Rajan said at a press conference after the bank's policy review.
India's central bank held interest rates steady at 7.75 percent on Tuesday. Following is a timeline of changes to the repo rate since June 2000. Full Article
Governor Rajan's Quotes
Until we get more data on macro economy and prices, we are on pause on rates
- We need to spend more time on new GDP numbers, premature to take strong view on GDP numbers
- Inflation likely to be around target level of 6 pct by Jan 2016
- Budget, disinflationary process important factors for monetary policy going ahead
- "System level liquidity" to replace export credit refinance facility from Feb 7
- Appropriate to maintain current interest rate stance and wait given that no substantial new developments on disinflationary process or on fiscal outlook