Reserve Bank of India Governor Raghuram Rajan, who has faced criticism from members of Prime Minister Narendra Modi's ruling party for not lowering interest rates enough, said on Saturday he would step down when his term ends on September 4.
India's central bank lowered its policy repo rate by 25 basis points to 7.5 per cent on Wednesday, its second inter-meeting cut this year on the back of easing inflation and what it said was the "weak state" of parts of the economy
Reserve Bank of India governor Raghuram Rajan surprised markets in his maiden policy review yesterday by raising interest rates to ward off rising inflation, while scaling back some of the emergency measures recently put in place to support the
The Reserve Bank of India (RBI) has kept interest rates on hold ignoring government pressure to reduce borrowing costs, but said it was shifting its focus towards boosting a flagging economy, raising the odds of a rate cut as early as January.
India's central bank has left interest rates unchanged but cut the cash reserve ratio for banks, disappointing market hopes that it would follow up the government's unexpected bold reform measures by reducing borrowing costs.
India's central bank promised yesterday to use "all its available tools" to stabilise the rupee, which sank to a record low against the dollar for a third straight day amid turmoil in global markets.
The Indian unit fell to 54.91 against t
The Reserve Bank of India (RBI) is likely to cut its repo rate for the first time in three years in an attempt to lift sagging economic growth, even as high oil and food prices remain a challenge to managing inflation, a poll showed.
India's central bank yesterday moved to crank up lending to spur slackening growth in Asia's third-biggest economy by lowering the amount of cash reserves commercial banks must keep on deposit.
The Reserve Bank of India (RBI) cut the cash
The Reserve Bank of India (RBI) could reverse its monetary tightening cycle, if December inflation falls sharply, a senior finance ministry official said yesterday, a day after a central banker said interest rates have peaked.
The RBI has
India's central bank on Monday further curbed transactions with Iran, saying all current account transactions including trade deals with the Islamic republic should be settled outside the Asian Clearing Union (ACU).
Reuters had reporte