Not in a rush to launch nationwide retail e-rupee, says RBI Governor Das

The Reserve Bank of India is not in a hurry to launch the central bank digital currency, and it has not yet fixed a target date for the same, Governor Shaktikanta Das said at the Business Standard BFSI Summit 2024 on Wednesday. "We have to remember that central bank digital currency is a pilot project and from day one we never intended to launch it out nationally because we are dealing with currency, the safety and security and robust of design is very important," Das said.Register to read

RBI Das says wrong to assume rate cut to come at meet after change in stance

Reserve Bank of India Governor Shaktikanta Das on Wednesday again pushed back against expectations of an interest rate cut next month, saying it would be wrong to assume that a change in stance by the Monetary Policy Committee would be followed by a reduction in the repo rate at the immediate next meeting.Register to read

Heads of small finance banks say not in hurry to become universal banks

Leading small finance banks are not too keen to transition into universal banks immediately, senior executives of small finance banks said during a panel discussion at the Business Standard BFSI Summit Wednesday. Suryoday Small Finance Bank, Jana Small Finance Bank, Utkarsh Small Finance Bank, and ESAF Small Finance Bank took part in the discussion. They said they are not rushing to seek universal bank licences. Register to read

Tata Capital on course to list on bourses by Sept 2025, says MD

Tata Capital is on course for listing on exchanges by September 2025, Managing Director and Chief Executive Officer Rajiv Sabharwal told Informist on the sidelines of the Business Standard BFSI Summit. "Whatever RBI has given us as the timeline, we are working towards keeping it," Sabharwal said. Tata Capital is required to list on bourses by 2025 according to the Reserve Bank of India guidelines.Register to read

Why is forward-looking policy focusing on Sept-Oct inflation hump?

Exactly a month from now, the Reserve Bank of India's Monetary Policy Committee will announce its next interest rate decision. After the stance of policy was shifted to neutral from withdrawal of accommodation on Oct. 9, it was natural for the market to expect the first rate cut in four and a half years from the committee on Dec. 6. Instead, the central bank has looked to talk back these expectations in light of headline retail inflation jumping to a nine-month high of 5.49% in September from 3.65% in August.Register to read