The Constitution and RBI are two mighty pillars on which India’s stability rests
2 months, 1 week ago

The Constitution and RBI are two mighty pillars on which India’s stability rests

Live Mint  

The formidable institutional structure of the US will be severely tested today by both the presidential election process and its aftermath, whatever the outcome. The year 1935 also saw the establishment of the Reserve Bank of India with core functions as defined in those nascent days of central banking: issuance of bank notes and maintenance of reserves to secure monetary stability, regulation of banking institutions, issuance of public debt and being banker to the government. The Constitution and the RBI are the two mighty pillars which have given structural stability to India and its people. The conference featured some very interesting academic papers on inflation targeting, as mandated by the 2016 amendment to the RBI Act, a mandate pursued flexibly since it permitted “keeping in mind the objective of growth." An excellent academic paper showed results from surveys conducted across many countries on how people’s inflationary expectations are formed principally around a small set of products, although this set varies from one country to another.

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History of this topic

Climate change poses severe risks to financial stability: RBI Deputy Governor
1 month, 1 week ago

Climate change poses severe risks to financial stability: RBI Deputy Governor

New Indian Express  

MUMBAI: Warning of the increasing intensity and severity of climate risks, Reserve Bank of India Deputy Governor M Rajeshwar Rao has called for a regulatory response to mitigate these challenges, emphasising their impact on price and financial stability. Speaking at an international conference on "Mitigating Climate Change Risks and Fostering a Robust Ecosystem for Sustainable Finance", organised by the Institute …

Effective fiscal-monetary coordination was core for India’s success amid a series of adverse shocks: RBI Governor
1 month, 3 weeks ago

Effective fiscal-monetary coordination was core for India’s success amid a series of adverse shocks: RBI Governor

Live Mint  

Mumbai, November 21 : Reserve Bank of India Governor Shaktikanta Das emphasized the critical role of fiscal-monetary coordination in navigating India through a series of external economic shocks. "Effective fiscal-monetary coordination was at the core of India's success in the face of a series of adverse shocks. From this perspective, macroeconomic stability becomes a shared responsibility of both monetary and …

Indian economy sailing smoothly amid global headwinds: Das
2 months ago

Indian economy sailing smoothly amid global headwinds: Das

Deccan Chronicle  

Mumbai: Reserve Bank Governor Shaktikanta Das on Thursday said the Indian economy has been sailing "smoothly" amid the global headwinds. In comments made days after headline inflation shot up beyond the 6 per cent tolerance band of RBI for October, Das said inflation is "expected to moderate despite periodic humps". With the rupee hitting new lows, Das said India's external …

Indian economy, financial system remain robust despite global economy facing heightened risks: FSR
6 months, 2 weeks ago

Indian economy, financial system remain robust despite global economy facing heightened risks: FSR

The Hindu  

The Indian economy and the financial system remain robust and resilient, anchored by macroeconomic and financial stability, the Reserve Bank of India said in the 29th issue of the Financial Stability Report which was released on June 27. SCBs’ gross non-performing assets ratio fell to a multi-year low of 2.8 per cent and the net non-performing assets ratio to 0.6 …

RBI to act early to prevent any risk to India's fastest growth potential: Guv Shaktikanta Das
1 year ago

RBI to act early to prevent any risk to India's fastest growth potential: Guv Shaktikanta Das

The Hindu  

Reserve Bank Governor Shaktikanta Das on Thursday said India is one of the fastest growing major economies in the world with a rising potential growth profile, and stressed that the central bank remains committed to act early and decisively to prevent any build-up of risks. In his foreword to the RBI's 28th issue of the Financial Stability Report, Mr. Das …

Indian economy, domestic financial system remain resilient on strong macroeconomic fundamentals: RBI
1 year ago

Indian economy, domestic financial system remain resilient on strong macroeconomic fundamentals: RBI

India TV News  

The Reserve Bank of India Governor Shaktikanta Das on Thursday said that India is one of the fastest-growing major economies in the world with a rising potential growth profile. He further said that the Indian economy, domestic financial system remain resilient on strong macroeconomic fundamentals. He further said that Banks' gross non-performing assets ratio has declined to multi-year low of …

Indian economy makes solid recovery despite global headwind: RBI Governor Das
1 year, 6 months ago

Indian economy makes solid recovery despite global headwind: RBI Governor Das

The Hindu  

Reserve Bank Governor Shaktikanta Das on June 28 said that the Indian economy has made a solid recovery and is among the fastest-growing large economies despite heightened uncertainties and formidable headwinds. The global financial system has been impacted by significant strains since early March 2023 from the banking turmoil in the U.S. and Europe. Since the last issue of the …

Indian economy, domestic financial system remain resilient despite global headwinds: RBI Governor Das
1 year, 6 months ago

Indian economy, domestic financial system remain resilient despite global headwinds: RBI Governor Das

India TV News  

Reserve Bank Governor Shaktikanta Das on Wednesday said that the Indian economy has made a strong recuperation and is among the quickest developing enormous economies in spite of elevated vulnerabilities and considerable headwinds. The global and Indian financial systems have traveled somewhat divergent paths since the FSR's last issue in December 2022. Since the beginning of March 2023, the turmoil …

Indian Banks Remain Resilient, Not Adversely Impacted by Recent Global Events: RBI Governor Shaktikanta Das
1 year, 8 months ago

Indian Banks Remain Resilient, Not Adversely Impacted by Recent Global Events: RBI Governor Shaktikanta Das

News 18  

RBI Governor Shaktikanta Das on Thursday said there is a renewed focus on the resilience and stability of the financial sector, and a resilient future-ready bank needs to be financially, operationally and organisationally resilient. He also said the Indian banking system remains resilient, and stress tests show Indian banks will be able to maintain capital adequacy above minimum requirement even …

reserve bank of india 25th financial stability report
2 years, 6 months ago

reserve bank of india 25th financial stability report

The Hindu  

The Reserve Bank of India on Thursday said the Indian economy is well on the path of recovery even though inflationary pressures and geopolitical risks warrant careful handling and close monitoring of the situation. The RBI's 25th Financial Stability Report also said banks as well as non-banking financial institutions have sufficient capital buffers to withstand shocks. "Notwithstanding the challenges from …

RBI shows resilience in the face of shocks
2 years, 7 months ago

RBI shows resilience in the face of shocks

Hindustan Times  

A remarkable feature of India’s governance model in the last few years has been its ability to provide relative resilience in the face of unanticipated shocks. But, as RBI has also made clear, while it is fighting to check inflation, most of the shocks to prices have emanated from factors beyond India’s control. And with RBI’s peers also fighting inflation …

The Hindu Explains | What has the RBI cautioned against in its latest Financial Stability Report?
3 years, 11 months ago

The Hindu Explains | What has the RBI cautioned against in its latest Financial Stability Report?

The Hindu  

The story so far: On Monday, the Reserve Bank of India released the 22nd issue of its biannual Financial Stability Report outlining the risks to financial stability as well as the resilience of the financial system in the contemporary context. In his foreword, RBI Governor Shaktikanta Das flagged the many risks ahead, including the recent, accentuating “disconnect between certain segments …

RBI calls for deep-seated, wide-ranging reforms for sustainable growth
4 years, 4 months ago

RBI calls for deep-seated, wide-ranging reforms for sustainable growth

The Hindu  

Cautioning that India’s potential output may undergo a structural downshift following the pandemic, the Reserve Bank on Tuesday made a strong case for deep-seated and wide-ranging reforms to regain losses and return to the path of sustainable economic growth. The COVID-19 pandemic will inflict deep disfiguration on the world economy and the shape of the future will be heavily contingent …

PMC Bank crisis: Engaged with all stakeholders for resolution, says RBI Guv Shaktikanta Das
4 years, 6 months ago

PMC Bank crisis: Engaged with all stakeholders for resolution, says RBI Guv Shaktikanta Das

Live Mint  

The Reserve Bank of India is working with all stakeholders for resolution for Punjab and Maharashtra Cooperative Bank, the central bank governor said on Saturday. "RBI is engaged with all stakeholders for resolution for Punjab and Maharashtra Cooperative Bank," RBI Governor Shaktikanta Das said. "The Indian economy's medium-term outlook remains uncertain even though the country has started re-opening after over …

Financial system stable despite weakening economic growth; reviving consumption, investment a major challenge: RBI
5 years ago

Financial system stable despite weakening economic growth; reviving consumption, investment a major challenge: RBI

Firstpost  

The PSBs need to build stronger buffers to absorb any disproportionate operational losses, while private lenders need to focus on corporate governance, the RBI said. Mumbai: India’s financial system remains stable even after economic growth plummeted to a six-year low, the Reserve Bank of India said on Friday. “Reviving the twin engines of consumption and investment while being vigilant about …

Opinion | An easy surrender of the country’s economic defences
5 years, 4 months ago

Opinion | An easy surrender of the country’s economic defences

Live Mint  

The global economy is admittedly in a strange place and even the usually reliable experts are struggling to decode an evolving economy and the central bank’s place in it. To address this new normal, we are conducting a public review of our monetary policy strategy, tools, and communications.” Coincidentally, the same day Lawrence Summers and Anna Stansbury published a Project …

RBI Financial Stability Report: There is good news and bad news, but where is the plan of action?
5 years, 6 months ago

RBI Financial Stability Report: There is good news and bad news, but where is the plan of action?

Firstpost  

The Financial Stability Report is a very important document on the financial sector as it analyses threadbare the overall state of the various segments as well as highlights the risk-related issues that have been identified which can cause potential challenges. The FSR is happy with the state of the banking system as the gross non performing asset ratio is 9.3 …

‘Financial stability is a key theme for monetary policy’
5 years, 6 months ago

‘Financial stability is a key theme for monetary policy’

The Hindu  

With the liquidity crisis of non-banking finance companies threatening to spillover to other sectors, Reserve Bank of India governor Shaktikanta Das has highlighted the importance of the central bank’s role to maintain financial stability. Speaking at the Lal Bahadur Shastri National Academy of Administration, Mussoorie, Mr. Das said while there is no explicit mandate of the monetary policy to maintain …

Much ado about nothing: Demystifying the needless hue and cry over the RBI
6 years ago

Much ado about nothing: Demystifying the needless hue and cry over the RBI

Op India  

“The only function of economic forecasting is to make astrology look respectable,” remarked the legendary Economist John Kenneth Galbraith. Whoever in Congress thought of RBI autonomy and role in influencing election outcome doesn’t have enough knowledge to even make credible sounding arguments. According to the RBI Act’s Section 7, “the central government may from time to time give such directions …

India's growth 'very solid', important for govt to pay heed to RBI's message on financial stability: IMF Chief Economist
6 years, 1 month ago

India's growth 'very solid', important for govt to pay heed to RBI's message on financial stability: IMF Chief Economist

India TV News  

India's growth over the past four years has been 'very solid', said IMF's Chief Economist Maurice Obstfield on Sunday. "But as the government is trying to better oversee the banking system, these loans have migrated to shadow banking and that is an area where more needs to be done to contain financial pressures, which we are beginning to see in …

RBI complains too much; its role has been better defined, powers expanded over four years of Narendra Modi govt
6 years, 1 month ago

RBI complains too much; its role has been better defined, powers expanded over four years of Narendra Modi govt

Firstpost  

There is a deluge of expert and academic opinion on the current Reserve Bank of India - Government ‘confrontation’. To quote: “Governments that do not respect central bank independence will sooner or later incur the wrath of the financial markets, ignite economic fire and come to rue the day they undermined an important regulatory institution.” Now, for a top RBI …

RBI-govt spat: International Monetary Fund against interference that compromises central bank's independence
6 years, 2 months ago

RBI-govt spat: International Monetary Fund against interference that compromises central bank's independence

Firstpost  

The standoff was in relation to RBI’s handling of weak public sector banks, tight liquidity in the market and ways of resolving bad loans in the power sector. I’ve said this before standing here that we support clear lines of responsibility and accountability… And, international best practice is that there should be no government or industry interference that compromises the …

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