India's central bank keeps repo rate unchanged at 6.5 pct

STORY: India's central bank keeps repo rate unchanged at 6.5 pct DATELINE: Oct. 8, 2023 LENGTH: 00:01:44 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of Reserve Bank of India (RBI) 3. various of markets STORYLINE: India's central bank, the Reserve Bank of India (RBI), on Friday kept the key policy repo rate unchanged at 6.5 percent. This was the fourth time when the RBI kept the repo rate steady. Addressing media persons in financial capital Mumbai, RBI Governor Shaktikanta Das said, "After a detailed assessment of the evolving macroeconomic and financial developments and the outlook, RBI's Monetary Policy Committee (MPC) decided unanimously to keep the Policy Repo Rate unchanged at 6.5 percent." The announcement came after the RBI's six-member MPC held a meeting on Oct. 4-6. The RBI governor stated that the retail inflation was projected at 5.4 percent for the financial year 2023-24 through next March. "Headline inflation had surged in July driven by tomatoes an

India's central bank expects growth rate at 6.5 pct this fiscal year

STORY: India's central bank expects growth rate at 6.5 pct this fiscal year DATELINE: June 10, 2023 LENGTH: 00:01:31 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of Indian government buildings 3. various of Reserve Bank of India (RBI) building 4. various of markets in New Delhi 5. various of traffic in New Delhi STORYLINE: The rate of inflation in India during the current fiscal year (April 2023-March 2024) is expected to remain above 4 percent, while the country's economy is likely to grow at 6.5 percent, Governor of the Reserve Bank of India (RBI) Shaktikanta Das said on Thursday. Announcing the monetary policy in the financial capital Mumbai, the central bank governor said the Indian economy was strongly placed at a time of global uncertainties. "We can derive satisfaction from the fact that the Indian economy and the financial sector stand out as strong and resilient in a world of unprecedented headwinds and swift cross currents. Unlike the previous three

India's central bank says 2022-23 GDP growth may surpass estimated 7 pct

STORY: India's central bank says 2022-23 GDP growth may surpass estimated 7 pct DATELINE: May 25, 2023 LENGTH: 00:01:36 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of government building 3. various of agriculture 4. various of market area 5. various of traffic STORYLINE: Governor of the Reserve Bank of India Shaktikanta Das said Wednesday the country's gross domestic product (GDP) growth in the financial year 2022-23 could be more than the estimated 7 percent. Data will come at the end of this month, and all the economic indicators in the fourth quarter of the last financial year show that economic activity sustained momentum, Das said while speaking at the annual session of the Confederation of Indian Industry in New Delhi. Last month, the Reserve Bank of India said the real GDP growth for 2023-24 is projected at 6.5 percent with Q1 at 7.8 percent, Q2 at 6.2 percent, Q3 at 6.1 percent and Q4 at 5.9 percent. "We derive confidence at this point of time fro

Indians begin exchanging currency notes of 2,000 denomination

STORY: Indians begin exchanging currency notes of 2,000 denomination DATELINE: May 24, 2023 LENGTH: 0:01:38 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of banks and street views in India STORYLINE: The process of exchanging the currency notes of 2,000 (Indian Rupees) denomination began on Tuesday across India after the country's central bank announced the withdrawal of the highest-value currency notes from circulation. Last week, the Reserve Bank of India (RBI) said that the currency notes of the 2,000 denomination shall be withdrawn after Sept. 30, and thereafter they will not be legal tender. Not much rush was seen in front of the banks on Tuesday, as RBI Governor Shaktikanta Das announced on Monday that there were enough currency notes available in the country's banking system for exchange. Individuals have been given the option of exchanging a maximum of 10 notes of 2,000 denominations every day with currency notes of other denominations at any bank.

G20 finance ministers, central bank governors conclude meeting with chair's summary

STORY: G20 finance ministers, central bank governors conclude meeting with chair's summary DATELINE: Feb. 26, 2023 LENGTH: 00:01:07 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India Gate 2. various of flags of G20 countries and other organizations flying outside meeting venue 3. various of Indian Finance Minister, Nirmala Sitharaman and Reserve Bank Of India (RBI) Governor Shaktikanta Das STORYLINE: The G20 finance ministers and central bank governors on Saturday reiterated their commitment to enhancing international policy cooperation and steering the global economy towards securing strong, sustainable, balanced and inclusive growth. They also stressed the need for well-calibrated monetary, fiscal, financial, and structural policies to promote growth and maintain macroeconomic as well as financial stability globally. Besides, they recognized the urgency to address debt vulnerabilities in low and middle-income countries, and declared that strengthening multilateral coordination by