"In order to attract more capital inflows, RBI has decided to increase the interest rate ceilings on FCNR (B) deposits. Accordingly, with effect from today (December 6, 2024), banks are permitted to raise fresh FCNR(B) deposits of 1 year to less than 3 years maturity at rates not exc...
“Amidst robust economic growth and controlled core inflation, the MPC of the RBI adopted a measured approach and kept the interest rates unchanged at 6.5%, leading to a rate pause for the ninth consecutive time. We believe that the RBI’s decision is prompted by India’s strong ...
"The MPC unanimously decided to keep rates unchanged in this meeting with readiness to act if the situation so warrants," Das said announcing the decisions of MPC. "The MPC will not hesitate to take further action as may be required in its future meetings." RBI has raised interest rate by...
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also our firm bias, which would leave the policy rate at 6.50%. Greater focus is likely to rest with the RBI’s policy bias and the look ahead given global volatility, some rebound in oil prices and the growing interest rate differential given the US Federal Reserve’s cut in interest ...
India's benchmark interest rate stands at 6.5% — the same level it was at when Das took charge of the RBI in late 2018. In its November State of the Economy monthly report, the RBI wrote that high inflation is "biting into urban consumption demand and corporate earnings and capex [capi...
The yen has also been under pressure after new Japan Prime Minister Shigeru Ishiba said he doesn't "think the environment is ready for an additional rate hike" from the Bank of Japan. Three central banks are set to release their interest rate decisions this week, namely the Bank of Korea,...
2. India has succeeded in bringing the rate of extreme poverty below 3% of its population, according to data from the World Poverty Clock. The percentage of the population living in extreme poverty has decreased from 3.3% in 2022 to 2.4% in 2024. ...
The benchmark interest rate was last changed by the MPC in February 2023. The Monetary Policy Committee (MPC) also decided to stay focused on withdrawal of accommodation. The MPC took this decision by a majority of 4 out of 6 members. The MPC met on 6th, 7th and 8th August, 2024. ...
The NSE Nifty climbed 498.8 points, or 2.18 per cent, to 23,320.20 during the day and is just 18.5 points from hitting its record high level. The RBI left its key interest rates unchanged on Friday as expected, keeping the focus on inflation amid robust