RBI hikes repo rate 25 bps for first time since Feb 2023, EMIs set to rise
RBI hikes repo rate 25 bps for first time since Feb 2023, EMIs set to rise
RBI Repo Rate Announcement Today on October 7: The Reserve Bank of India on Wednesday raised the repo rate, with Governor Sanjay Malhotra saying the Monetary Policy Committee has also changed its stance to calibrated tightening.
RBI Repo Rate Live: Home, car loan EMIs set to rise after 25 bps hike
RBI Policy Live: Home, car and personal loan borrowers are likely to face higher borrowing costs after the central bank raised the repo rate by 25 basis points to 5.50%, marking its first rate increase since February 2023.
Borrowers could see higher EMIs or a longer repayment tenure when their loan rates reset.
RBI flags West Asia, trade and AI valuation risks
RBI Governor Sanjay Malhotra: The West Asia conflict, trade-related uncertainties, elevated bond yields and risks of an unwieldy correction in the valuation of AI stocks are keeping global economic sentiment edgy, with risks to sentiment on emerging-market economies.
RBI to set up technical consultative committee for financial markets
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RBI Governor Sanjay Malhotra: In response to rapidly evolving financial market developments, the RBI will constitute a technical consultative committee for financial markets. The committee will serve as a forum for structured engagement with market participants and other stakeholders on policy and operational matters related to financial markets.
RBI measures to be implemented by year-end
RBI Governor Sanjay Malhotra: These measures will be implemented by the end of the year.
RBI to include bank deposits in consolidated account statements
RBI Governor Sanjay Malhotra: The RBI is facilitating semi-regulated depositories to include information related to deposit accounts in the consolidated account statement. Going forward, people will get a consolidated statement covering not only securities, equity and debt, but also bank deposit accounts.
RBI allows interoperability among NBFC account aggregators
RBI Governor Sanjay Malhotra: The RBI is now allowing interoperability among NBFC account aggregators, enabling aggregation of financial information for various users through all account aggregators by onboarding on only one account aggregator.
RBI Guv Sanjay Malhotra on balance of payments
RBI Governor Sanjay Malhotra: Consequently, the balance of payments is expected to record a healthy surplus this year.