Government approves one-year extension to RBI Deputy Governor Rabi Sankar

Contrary to expectations of a massive surplus transfer to the government, the central bank raised its Contingent Risk Buffer (CRB) by 50 basis points to 6%, when the Economic Capital Framework adopted in 2019 prescribed the 5.5% to 6.5% range.

New Delhi, Sep 25 (PTI) The government on Monday extended the term of RBI Deputy Governor M Rajeshwar Rao for a period of one year, according to sources. The Appointments Committee of the Cabinet has approved the re-appointment of M Rajeshwar Rao, Deputy Governor Reserve Bank of India, for a period of one year with […]

​​The Board also discussed the working of the Reserve Bank during the year April 2022 – March 2023 and approved the Annual Report and accounts of the Reserve Bank for the accounting year 2022-23.

New Delhi [India], July 1 (ANI): The Reserve Bank of India (RBI) on Monday announced that it has appointed Arnab Kumar Chowdhury as Executive Director (ED) with effect from June 3, 2024. Prior to being promoted as ED, Chowdhury was serving as Chief General Manager-in-Charge in the Department of Supervision. Show Full Article Chowdhury has […]

All 42 economists in a Bloomberg survey forecast the Reserve Bank of Indias six-member monetary policy committee will keep the repurchase rate unchanged at 6.50% on Thursday. Policymakers are keeping an eye on the likely occurrence of El Nino, which brings drier weather conditions and can affect crop yields.

The Reserve Bank of India (RBI) is expected to transfer around Rs 1 lakh crore to the government in FY25, as per a report by Union Bank of India. This projection reflects a slight increase from the Rs 874 billion transferred in the previous fiscal year. The report anticipates a robust dividend payout for FY25, with analysts predicting a potential positive surprise similar to the previous fiscal year. Despite various factors influencing RBI's dividend calculation, such as interest earnings and foreign exchange gains, analysts foresee strong dividend figures.

Budget 2024: Having reaped rich dividends from the Reserve Bank in the current financial year, the government will be looking forward to receiving about ₹70,000 crore from the central bank and the financial institutions (FIs) in the next financial year

RBI Governor emphasised the importance of good governance, risk management, compliance culture, and customer protection for the safety of financial institutions. The comments come amid the Paytm crisis. Paytm Payments Bank faces an uncertain future after RBI's regulatory actions, which could lead to a financial impact of Rs 300-500 crore on its yearly earnings.

Libya’s powerful central bank governor is fired as country’s deep divisions persist

India has granted a one-year extension to the tenure of central bank deputy governor Michael Patra, as per a government document seen by Reuters. Patra, a career central banker, initially assumed the role in January 2020 for a three-year term.