Sanjay Malhotra, who is currently serving as the Revenue Secretary in the Finance Ministry will now replace Shaktikanta Das, whose tenure comes to an end on Tuesday, December 10.
Sanjay Malhotra's appointment is effective December 11, 2024, and will continue for three years, as per an official notification from the Department of Personnel and Training on Monday.
Earlier in the day, the RBI Governor was admitted to Apollo Hospital in Chennai after he experienced acidity. After initial examination, he was diagnosed with acidity.
The 3-day Monetary Policy Committee (MPC) meeting will conclude on October 9. The outcome of the meeting is eagerly awaited as the RBI has kept the repo rate steady for the last nine consecutive months.
Denmark's Christian Kettel Thomsen and Switzerland's Thomas Jordan, Das was recognised for his effective management of inflation, economic growth, currency stability, and interest rates. This accolade highlights his successful monetary policies amidst global economic challenges.
RBI Governor Shaktikanta Das has been awarded an "A+" rating by Global Finance magazine, making him one of only three central bank governors globally to receive the top distinction for the second consecutive year. The rating recognises Das's leadership in navigating India's economic challenges.
Finance Minister Nirmala Sitharaman urged banks to prioritise their core business activities, emphasising the necessity of collecting deposits and lending with increased strictness.
RBI Governor Shaktikanta Das also proposed creating a public repository of digital lending apps to curb unauthorized players and expressed concerns over the rising disbursals of top-up home loans.
The Reserve Bank of India (RBI) has proposed a new facility to allow automatic replenishment of UPI Lite wallets to promote small-value digital payments. Currently, UPI Lite has a daily limit of Rs 2,000 and a per-transaction limit of Rs 500.
RBI Governor Shaktikanta Das revealed the next set of monetary policies on Friday morning. Earlier, experts anticipated that the RBI will maintain the benchmark interest rate at 6.5%, unchanged since February 2023, due to inflation concerns.
The Reserve Bank of India (RBI), led by Governor Shaktikanta Das, has announced the decision to maintain the Policy Repo Rate at 6.5%. This steady stance indicates a deliberate approach towards economic stability.
The monetary policy committe led by Shaktikanta Das has kept the repo rates unchanged at 6.50 per cent.
The governor said that structural reforms by the government in recent years have boosted the medium- and long-term growth prospects of the economy.
Speaking at the World Economic Forum annual meeting in Davos, the governor expressed confidence in the effectiveness of monetary policy, stating that core inflation has been steadily decreasing.
The sender claimed to be from 'Khilafat India' and stated that bombs have been planted at a total of 11 locations in Mumbai. According to the email, the bombs were planted at RBI offices, ICICI Bank and HDFC Bank and the blasts were to take place at 1:30 pm today (December 26).
Das also said that the RBI is committed to supporting the growth of the fintech industry and has taken several measures to do so, such as the introduction of the Regulatory Sandbox and the Payment Initiation Services framework.
The RBI's Monetary Policy Committee (MPC) has a mandate to keep retail inflation within a target range of 2-6%. In recent months, inflation has been driven by rising food and fuel prices.
Shaktikanta Das was speaking at a seminar on the global economy organised by the Ministry of Finance and the Reserve Bank of India (RBI) in the national capital.
The Central Bank decided to keep policy rate unchanged for third time in a row as it maintains heightened vigil on inflation.
Shaktikanta Das stated that the retail inflation data for this month, which are scheduled to be released on June 12, "could possibly be lower."
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