The report, authored by Soumya Kanti Ghosh, SBI's Group Chief Economic Adviser, expects first repo rate cut in October meeting. The repo rate is the rate of interest at which the RBI lends to other banks.
"The elephant (Inflation) is walking very slowly, and we are watchful about this. It is around 4.9 per cent, 4.8 per cent and earlier it was 5 per cent. Our target is 4 per cent for inflation and we hope it goes the soon and most importantly it should stay there," said Das.
India's banking system is robust and the gross NPA (Non-Performing Assets) of the schedule commercial banks and NBFCs are below 3 per cent highlighted RBI (Reserve Bank of India) Governor Shaktikanta Das during the Monetary policy announcement on Friday.
Governor Das addressed by referencing the provisional estimates released by the National Statistical Office (NSO), which placed India's real gross domestic product (GDP) growth at an impressive 8.2 per cent for the fiscal year 2023-24.
The RBI's Monetary Policy Committee (MPC) maintained the status quo on the Repo Rate, keeping it unchanged at 6.5 per cent. The decision comes amidst a backdrop of economic uncertainties both domestically and globally.
The Monetary Policy Committee (MPC), chaired by Governor Das, has been convening in Mumbai this week to deliberate on key policy decisions amidst a challenging economic landscape.
After a massive defeat in the State Assembly and Parliamentary elections, the 24-year-old tenure of Naveen Patnaik concluded as he submitted his resignation to Odisha Governor Raghubar Das at the Raj Bhavan in Bhubaneswar on Wednesday.
The Reserve Bank of India (RBI) is unlikely to reduce the benchmark interest rate in its upcoming monetary policy review meeting. The meeting, chaired by Reserve Bank Governor Shaktikanta Das, is underway in Mumbai
As the Bharatiya Janata Party registered a landslide victory in Odisha in the Lok Sabha election and secured a majority in the State Assembly, Union Minister Dharmendra Pradhan said on Wednesday that people in the state instilled their faith in Prime Minister Narendra Modi.
AAP-Congress alliance, which contested with a 4-3 seat-sharing arrangement, did not enthuse the voters of the nation's capital much. However, the INDIA bloc was able to make a dent in the BJP's vote share which reduced from 56.7 per cent in 2019 to 54.35 per cent in 2024. While the AAP got a