RTGS, which started on March 26, 2004 with a soft launch involving four banks, presently handles 6.35 lakh transactions daily for a value of Rs 4.17 lakh crore across 237 participant banks.
Monetary Policy Committee (MPC) voted unanimously to keep the policy repo rate unchanged at 4 per cent and continued with its accommodative stance to support growth. The committee, which has cut rates by 115 basis points since the Covid-19 crisis hit in March, has kept rates on hold since May.
RBI Governor Shaktikanta Das made the announcement while announcing the decisions taken by RBI's Monetary Policy Committee (MPC).
Speaking at the annual day event of Foreign Exchange Dealers' Association of India (FEDAI), Das said there are downside risks to growth across the world and also in India.
Shaktikanta Das, Reserve Bank of India (RBI) Governor, tested positive for COVID-19 on Sunday.
RBI Governor Shaktikanta Das has said the risk of a second wave of COVID-19 could put sand in the wheels of the nascent recovery while his deputy M D Patra opined that it might take years to regain the output lost on account of the pandemic.
Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said that the RBI is doing everything to fight the epidemiological challenge that the world is facing. "India's growth rate is expected to be highest among G20 nations, as per IMF estimates," said RBI governor.
RBI Governor Shaktikanta Das addressed a press briefing today. This was his second briefing since the COVID-19 outbreak. In his previous address on March 27, Das announced several relief measures approved by its Monetary Policy Committee (MPC) to counter the economic slowdown.
Reserve Bank of India governor Shaktikanta Das on Friday made a series of big announcements to de-stress the impact from a 21-days long nationwide lockdown. Here's the complete statement by RBI Chief:
RBI Governor Shaktikanta Das addressed a press conference on Friday. The RBI chief's address comes a day after the central government announced a coronavirus relief package of worth Rs 1.7 lakh crore.
A day after Finance Minister announced Rs 1.7 trillion economic package for country, the Reserve Bank of India governor Shaktikanta Das announced bold measures cut lending rates by slashing repo rate and reverse repo rate by massive 70 bps and 90 bps respectively. He also announced a 3-month moratorium on loans.
RBI Governor Shaktikanta Das on Saturday said that the transmission of rate cuts is slowly and steadily improving and it is expected to improve further.
In the reporting week, the rise in reserves was mainly on account of an increase in foreign currency assets, a major component of the overall reserves, which rose by USD 2.642 million to USD 419.367 billion, according to the data.
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