RBI has been watchful of the impact of the pandemic on the banking and NBFC sectors when the effects of regulatory reliefs and resolutions fully work their way through said Shaktikanta Das
Here are the top headlines on Thursday
The RBI's dovish stance has also provided comfort to the unnerved bond and equity markets.
Inflation is climbing across the world and India is no exception but price rises have stayed relatively tame by historical standards, allowing the RBI to leave interest rates unchanged for now.
The key takeaway from Governor Shaktikanta Das's address on Thursday will be how the RBI plans to support the government's record $200 billion borrowing
PM Modi is putting India at risk because he has got a bankrupt foreign policy, says the Congress leader
One gain from the asset will be for Indians working abroad, sending money home will become simpler and cheaper.
Inflation may not be as transitory as has been estimated since rising demand will add to the supply bottlenecks
MPC's stance should remain accommodative till growth is secured, and future actions should be data-driven. But for now, reverse repo rate should be hiked by at least 20 bps
FIIs' favorite names and heavyweights like HDFC twins, ICICI Bank, Infosys, Kotak Bank, and Reliance Industries saw sharp cuts
The high spirits on the budget were short-lived as the global concerns have began weighing on equities.
Stick to shorter tenure fixed deposits now to benefit from higher rates later
To breathe life into 2004 circular on shadow banks' entry into this space
The meeting of the interest rate setting body, which was scheduled to start on Monday, will now begin on February 8
Conducting monetary policy will become more challenging
Finance Minister Nirmala Sitharaman in her budget speech last week talked about launching a central bank-backed 'digital rupee' soon.
Stock markets are expected to witness volatility this week with domestic factors such as RBI policy decision and quarterly earnings by big players driving the investor sentiment, analysts said. Also, movement of the rupee, Brent crude and foreign institutional investors (FIIs) would be keenly watched by investors, they added. "Among important events, participants will be closely eyeing the MPC's monetary policy review meet this week and its outcome is scheduled on February 9. Besides, on the macro front, IIP data will be released on February 11," said Ajit Mishra, VP Research, Religare Broking. "We have some big names like Bharti Airtel, Jindal Steel, ACC, Hero Motocorp, Tata Power, Hindalco and M&M that will announce their numbers during the week along with several others," Mishra added. "Markets have been witnessing volatile swings, mirroring their global counterparts and it may continue in near future. Besides, the upcoming event i.e MPC's review and earnings would further add .
Cryptocurrency has unsettled the govt and the central bank. Apart from taxing it heavily, the govt announced RBI's digital currency - a crypto competitor. How can it give fillip to the fintech sector?
A day after the budget, Finance Secretary TV Somnathan said the govt doesn't treat trading in crypto assets as illegal. Find out what is cryptocurrency and the challenges it is posing for the govt
Banks aren't participating in auctions enthusiastically as the system liquidity is being steadily drained by the RBI