"I have tested COVID-19 negative. The rift centered around a February 2018 circular issued by the RBI, which forced banks to immediately classify borrowers as defaulters when they delayed repayments, barred defaulting company founders from trying to buy back their firms during insolvency auctions, and push them into bankruptcy if a resolution timeline wasn’t met. Read latest news and live updates on Rbi-governor including breaking news on Rbi-governor,Rbi-governor photos,Rbi-governor videos and many more at cnbctv18.com. As per the latest Financial Stability Report (FSR) released by the Reserve Bank, gross non-performing assets of all banks may jump to 12.5 per cent by the end of this fiscal under the baseline scenario, from 8.5 per cent in March 2020. Economic situation bleak with few ‘slivers of brightness’: RBI Governor Shaktikanta Das. The "basic pay of the Governor and Deputy Governors" have been revised retrospectively with effect from January 1, 2016 and marks a huge jump from Rs 90,000 basic pay so far drawn by the Governor and Rs 80,000 for his … 30 days is the outer limit. CPI inflation is projected at 6.8% in Q2 of 2020-21. The Governor also announced the further extension of three months for the deferment of interest on working capital facilities. While interacting with the National Council members of Confederation of Indian Industry (CII) on July 27, the Reserve Bank of India (RBI) Governor Shaktikanta Das said, “According to a World Bank 2020 report, 1% increase in GVC (Global Value Chains) participation can boost per capita income levels of a country by more than 1%.” “I think this is the right time for India to make efforts to become a part of GVC (Global Value Chains). Das said the government has remained within the limits set by the Fiscal Responsibility and Budget Management (FRBM) Committee for the budget deficit. New Delhi, Dec 04: The Monetary Police Committee (MPC) has voted to unanimously to keep the repo rate unchanged at 4 per cent, Reserve Bank of India (RBI) Governor, Shaktikanta Das said. Das and his deputies have been at the forefront of tackling economic issues for a country ravaged by the pandemic. "Open their accounts" and "strike form" also found a place in the governor's statement as he shared his views on the coronavirus pandemic-hit economy after the Monetary Policy Committee (MPC) decided to leave key benchmark rate (repo rate) unchanged. In a televised address, RBI Governor Shaktikanta Das said the global economy is heading into recession. RBI governor Shaktikanta Das took the lead in assuring depositors expressing confidence that a resolution for the capital starved lender will be "swift and fast" and within the 30 day timeline set by the RBI. Reserve Bank of India (RBI) Governor Shaktikanta Das has cut interest rates by 75 basis points to 4.4% today. It is crucial to raise capital and build buffers to ensure credit flow and resilience. He hoped that robust tractor sales will offset farm labour shortage and a normal monsoon will bode well for rural demand. The RBI gave almost everyone the much-needed Friday thrill. He also announced several measures to add 3.74 lakh crore liquidity to the system. Reserve Bank of India Governor Shaktikanta Das on Saturday held a meeting with the heads of banks and reviewed the economic situation and implementation of various measures announced by it to reduce stress in the financial system amid the COVID-19 crisis. The focus has to be on productivity and quality of our products and services,”Right time for India to make efforts to become part of Global Value Chains: RBI Governor. Reserve Bank of India Governor Shaktikanta Das addressed the media amid the ongoing coronavirus crisis the country is going through. Full text of RBI Governor's speech, Inflation likely to be elevated in second quarter: RBI Governor Shaktikanta Das, Govt will have to spell out fiscal roadmap once COVID is contained: RBI Guv Shaktikanta Das, RBI governor headed MPC begins deliberations on monetary policy, Policies to allay Covid stress should balance depositor and borrower interests: RBI Governor, Banks should raise capital proactively: RBI Governor Shaktikanta Das, HDFC chairman Deepak Parekh requests RBI Governor to not extend loan moratorium, Dynamic shifts underway that can shape the future of India's economy: RBI Governor, RBI Governor, team meet heads of ratings agencies, RBI hit all the right chords by addressing both immediate and long-term needs, Banks need to raise capital on anticipatory basis: RBI Governor Shaktikanta Das, Raise capital on anticipatory basis amid emerging vulnerabilities: RBI Governor to banks, Indian economy more resilient now vs global financial crisis, says RBI Governor Shaktikanta Das, Former RBI governor Patel pens book on dealing with NPA issue, Inflation outlook highly uncertain: RBI Governor, Former RBI Governor Urjit Patel appointed as NIPFP Chariman, India needs to look beyond what rating agencies think, says ex-RBI governor Raghuram Rajan, RBI Governor meets heads of rating agencies, seeks their input on the economy, Right time for India to make efforts to become part of Global Value Chains: RBI Governor, Banks can't fund infrastructure projects, industry has to find new ways: RBI Governor, Former RBI Governor Urjit Patel says new bankruptcy law caused rift with government, GDP growth in 2020-21 likely to be negative: RBI Governor, Q1 GDP contraction 15% or 25%? Taiwan government celebrates Diwali; foreign minister shares stage with Indian representative The mandated level for both the Centre and state is 6 per cent of the GDP. Get more India News and Business News on Zee Business. Thank you everyone for your good wishes for my early recovery," the central bank governor said in a tweet. © 1998-2020 Zee Media Corporation Ltd (An Essel Group Company), All rights reserved. "The rural economy is doing slightly better than the urban economy which is still grappling with COVID-19. RBI Governor Shaktikanta Das said RTGS system will soon be made available 24x7 in the next few days ... the statement on Developmental and Regulatory Policies by the Reserve Bank of India (RBI) said. "I … With the Budget-making exercise in full swing, RBI Governor Shaktikanta Das on Friday said Budget 2021-22 is expected to be prudent and growth oriented. Governor Shaktikanta Das chaired the meetings, which were also attended by deputy governors. 'Corporate houses in banking a bad idea': Rajan, Acharya slam RBI panel recommendations. Mumbai: With the Budget-making exercise in full swing, RBI Governor Shaktikanta Das on Friday said Budget 2021-22 is expected to be prudent and growth oriented. "It will be done very swiftly, it will be done very fast. That is much more important than increasing the fiscal deficit target again," Jalan said. “Market financing conditions for NBFCs, which had become challenging, have largely stabilised in the wake of targeted policy measures,” RBI Governor Shaktikanta Das said Thursday. The governor said he is asymptomatic and will continue to work from isolation. Despite rebound in economic activities in H2 of 2020, global growth will still be negative this year, he said. "Proactively, it is necessary for both public and private sector banks to build up adequate capital buffers," Das said at SBI's banking and economic conclave. The Reserve Bank of India's chief, Shri Shaktikanta Das, IAS Retd., former Secretary, Department of Revenue and Department of Economic Affairs, Ministry of Finance gives his input of this year's financial state calling 2020 a very challenging year. Addressing the media after the customary post-budget meeting between the Finance Minister and the RBI, Governor Shaktikanta Das talked about the improving transmission of the rate cuts they had announced last year, the AGR ruling by the Supreme Court and growth projections. RBI Governor Shaktikanta Das Tuesday slashed the policy rate, flushed the financial system with liquidity using multiple instruments, and used conventional as well as unconventional tools to support the economy. Even though the RBI typically distances itself from commenting on individual banks, this time it made an exception by elaborating on why the step was taken while highlighting the need for strengthening technology in the … Former Reserve Bank of India (RBI) governor Urijit Patel has been appointed as the chairperson of National Institute of Public Finance and Policy (NIPFP), an official statement said on Friday. PTI Follow @PTI_News With the Budget-making exercise in full swing, RBI Governor Shaktikanta Das on Friday said Budget 2021-22 is expected to be prudent and growth oriented. In a series of tweets, Chidambaram said the economy will not revive smartly unless the government puts money in the hands of the bottom half of the families in India and puts food on the plates of the poor. The RBI Governor was addressing the 7th SBI Banking & Economics Conclave on Saturday in which he said RBI has taken several measures to protect our financial system, support the economy in the current crisis. RBI Governor Shaktikanta Das on Friday said the central bank will be introducing digital payment security control directions for regulated entities. According to the RBI survey, household's one year ahead inflation expectations have climbed to 10.5 per cent in July. 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