The Reserve Bank of India (RBI) has decided to keep the benchmark repo rate unchanged at 5.25% following the latest meeting of its Monetary Policy Committee (MPC), signaling a cautious approach as policymakers navigate a complex economic environment marked by inflationary pressures, global uncertainties, and currency volatility. The decision, announced after the MPC’s policy review,...
Reserve Bank of India Governor Sanjay Malhotra clarified on Monday that banks are free to decide the minimum balance requirement for savings accounts, as it does not fall under the regulatory jurisdiction of the RBI. He made this statement during a media interaction on the sidelines of the ‘Financial Inclusion Saturation Drive’ held at Gozaria...
Reserve Bank of India (RBI) Governor Sanjay Malhotra has clarified that he never stated that Unified Payments Interface (UPI) cannot remain free forever. Speaking at the post-RBI policy conference, Malhotra said, “I want to clarify that I never said UPI can’t remain free forever. There are costs, and these costs have to be paid by...
Reserve Bank of India Governor Sanjay Malhotra stated on Wednesday that the increase in US tariffs is unlikely to significantly affect the Indian economy unless retaliatory tariffs are imposed. During a press conference following the monetary policy announcement, the RBI Governor remarked, “The ongoing uncertainty regarding US tariffs may not have a substantial impact on...