RBI decided not to hike the repo rate, and the policy statement clearly explains the rationale. RBI’s monetary policy in August comes against a backdrop of rising global inflation and central banks raising rates to keep it in check. Yet, RBI governor Sanjay Malhotra-led Monetary Policy Committee on Wednesday decided to keep the repo rate…
Reserve Bank of India (RBI) Governor Sanjay Malhotra gestures on MPC policy NEW DELHI: RBI governor Sanjay Malhotra said consumers already bear the cost of UPI transactions indirectly even if merchant fees are not explicitly charged.Responding to questions on enabling merchant fees on UPI, Malhotra said it was too early to take a view and…
UPI: Government is also expected to prescribe an upper limit on the maximum MDR that can be charged. Will you have to pay for UPI payments going ahead? The government is expected to permit the levy of a Merchant Discount Rate (MDR) of 0.25% to 0.4% on UPI transactions above Rs 2,000 made to businesses,…
Show Quick Read Key points generated by AI, verified by newsroom RBI maintained repo rate, improved growth and inflation outlook. Global uncertainty prompted pause, India’s economy remained robust. FY27 GDP growth upgraded to 6.7%, inflation forecast trimmed. RBI MPC Highlights: The Reserve Bank of India (RBI) delivered a largely expected policy outcome on Wednesday, leaving…
The Reserve Bank of India’s Monetary Policy Committee (MPC), chaired by Governor Sanjay Malhotra, on Wednesday kept the benchmark repo rate unchanged at 5.25 per cent, opting for policy continuity as it assessed the evolving domestic and global macroeconomic environment. The decision, announced at the conclusion of the MPC’s three-day meeting, marks another pause after…
MUMBAI: RBI governor Sanjay Malhotra has hinted that the central bank may not react to the current bout of inflation and spurt in credit growth. Malhotra struck a notably composed tone, describing price pressures as contained even if “currently a bit elevated”, and attributed the uptick largely to supply-side disturbances.“Inflation is also under control although…
Kanpur: In a blend of nostalgia and reconnection, renowned space sector leader and IIT-Kanpur alumnus Pawan Goenka, chairperson of the Indian National Space Promotion and Authorization Centre (IN-SPACe), will return to his alma mater as the chief guest for the institute’s 59th convocation on July 15.Around 3,100 students will be conferred degrees during the convocation…
Kolkata: RBI governor Sanjay Malhotra on Saturday met chief minister Suvendu Adhikari at Nabanna. In a Facebook post, Adhikari said that Malhotra met him on a courtesy call. Sources said they discussed enhancing cooperation to push development initiatives in Bengal.The visit assumes significance as the budget session of the assembly will start on June 18,…
Reserve Bank of India Governor Sanjay Malhotra on Friday cautioned that a projected deficiency in the south-west monsoon could impact rural demand and private consumption, even as various government initiatives are expected to cushion the effect.Speaking at the post-monetary policy press conference, Malhotra said consumption trends have remained healthy so far but acknowledged that a…
Show Quick Read Key points generated by AI, verified by newsroom RBI lowers FY27 growth forecast amidst mounting global risks. India’s villages have emerged as one of the economy’s brightest spots over the past year, helping support consumption even as global uncertainties intensified. But the Reserve Bank of India (RBI) now sees fresh risks on…
