US Fed Effect: No US Fed effect, domestic factors to guide RBI policy

2023-12-14 18:34:55 The latest US Federal Reserve’s statement, signalling three rate cuts next year, is unlikely to change interest rate trajectory in India with the monetary policy committee focussing on domestic factors but could nudge the central bank to revise its stance, say economists. Experts indicate that the Reserve Bank of India (RBI) may change … Read more

RBI’s gold reserve up over 40% in five years

2023-06-07 13:17:55 The Reserve Bank of India’s gold reserves have risen by over 40% since it resumed the purchase of the yellow metal over five years ago. This shows gold has emerged as a strong hedge against inflation and also helped reduce dependence on the dollar to an extent. India’s central bank, unlike others, never … Read more

Service sector cushions India’s economy from high interest rates

2023-05-31 03:00:10 India’s economic growth probably matched government estimates as demand spurred an expansion in the services sector and cushioned the impact of elevated interest rates. Data due Wednesday is likely to show gross domestic product in the year to March 2023 grew 7%, according to the median estimate in a Bloomberg survey that’s in … Read more

RBI dividend: Reserve Bank of India expected to consider dividend payout this week

2023-05-16 06:12:30 The Reserve Bank of India’s board is expected board to meet on Friday when it is expected to consider a dividend payout to the government, news agency Bloomberg reported on Tuesday citing sources. The report said that the meeting will be held in Mumbai wherein it might review its finances and how much … Read more

India’s forex reserves up $7.2 billion to $595.98 billion

2023-05-12 11:41:16 India’s foreign exchange reserves saw a rise of $7.196 billion to $$595.98 billion as on May 5, 2023, data from the Reserve Bank of India showed on Friday. India’s forex reserves reached a 10-month-high of $588.8 billion in the week through April 28, recovering from a drop to $524.5 billion last October, when … Read more