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India's forex reserves may have exceeded $600bn: RBI Governor Shaktikanta Das


Reserve Bank of India Governor Shaktikanta Das.
 
The Central bank also announced G-SAP 2.0 which will help in calming yields and control undue volatility faced by market participants in the government securities market.
Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said India’s forex reserves may have crossed record level of $600 billion on the back of robust capital flows.
As per the RBI’s data issued on May 28, the country’s foreign exchange reserves rose by $2.865 billion to a record high of $592.894 billion for the week ended May 21, boosted by gold and currency assets.
“Based on the current estimation, we believe that our forex reserves may have crossed $600 billion,” he said while announcing the bi-monthly monetary policy review. ....

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RBI running some of its key operations from a 250 member-strong quarantine centre: Shaktikanta Das


RBI running some of its key operations from a 250 member-strong quarantine centre: Shaktikanta Das
Shaktikanta Das said the quarantine facilities of the RBI continue to operate with over 250 RBI personnel and service providers to ensure continuity of various segments of financial markets and RBI operations
PTI | May 5, 2021 | Updated 15:54 IST
RBI Governor Shaktikanta Das
The Reserve Bank is running some of its key operations from a 250-member-strong quarantine centre a souped-down version of the war-room it had set up in mid-March last year, more than a week before the national lockdown, Governor Shaktikanta Das said on Wednesday.
Making an unscheduled press announcement earlier in the day amidst the raging second wave of the pandemic, Das said the quarantine facilities of the RBI continue to operate with over 250 RBI personnel and service providers away from their homes to ensure continuity of various segments of financial markets and RBI operations. ....

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FM Sitharaman to address post-Budget RBI board meeting on Feb 16


FM Sitharaman to address post-Budget RBI board meeting on Feb 16
Finance Minister Nirmala Sitharaman will highlight key points of Union Budget 2021-22, including the fiscal consolidation roadmap during the meeting
PTI | February 14, 2021 | Updated 14:37 IST
Union Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman is scheduled to address the post-Budget meeting of the RBI s central board on Tuesday and highlight key points of Union Budget 2021-22, including the fiscal consolidation roadmap. Fiscal deficit - the excess of government expenditure over its revenues - is estimated to hit a record high of 9.5 percent of the gross domestic product (GDP) in the current fiscal ending March 31 due to the COVID-19 pandemic. ....

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Centre confident of keeping 2021-22 borrowing costs below 6%


Centre confident of keeping 2021-22 borrowing costs below 6%
RBI has assured us that the borrowing for 2021-22, yields will be comfortable and we expect it to not top 5.9% for the fiscal, one of the two sources said
Reuters | February 8, 2021 | Updated 13:01 IST
Despite the pledge from the RBI, bond yields had surged on Friday as investors had been hoping for a more clarity in the form of a bond purchase calendar
The Indian government is confident that it can obtain funds for its massive 2021-22 borrowing programme at below six percent, as the central bank has given assurances that it will provide liquidity, two senior officials told Reuters. Holding policy interest rates unchanged at record lows on Friday, Reserve Bank of India Governor Shaktikanta Das assured investors that its stance on liquidity remained accommodative and that the government s Rs 12.06 lakh crore borrowing programme for the fiscal year starting April would be managed in a smooth and orderly ma ....

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RBI MPC meet: 'Received three offers for PMC Bank resolution,' says Shaktikanta Das


RBI MPC meet: Received three offers for PMC Bank resolution, says Shaktikanta Das
Last month, PMC Bank administrator A K Dixit in a letter to customers and stakeholders had informed that three prospective investors were given time till February 1, 2021 for submission of their final offer
PTI | February 5, 2021 | Updated 15:40 IST
Reserve Bank of India Governor Shaktikanta Das
Reserve Bank Governor Shaktikanta Das on Friday said three investors have submitted their offers for reconstruction of crisis-ridden Punjab and Maharashtra Co-operative (PMC) Bank and evaluation for those are underway. Last month, PMC Bank administrator A K Dixit in a letter to customers and stakeholders had informed that three prospective investors were given time till February 1, 2021 for submission of their final offer. ....

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