rbi mpc meet date

RBI's April policy meeting minutes suggest a potential third repo rate cut in June, driven by moderated inflation and sluggish economic growth. The MPC has shifted to an 'accommodative' stance, signaling a bias for lower rates to boost private consumption and corporate investment. Market sentiment anticipates further easing within the year.

The RBI's Monetary Policy Committee convened this week, with expectations of a 25 bps repo rate cut to 6% amidst easing inflation. The decision, influenced by global economic headwinds and potential impacts from US tariffs, will be revealed on April 9, 2025.

The RBI's Monetary Policy Committee has reduced the repo rate by 25 basis points to 6%, shifting its stance to accommodative amid global economic uncertainties. While the GDP growth forecast for FY 2025-26 has been slightly lowered to 6.5%, the CPI inflation outlook remains benign at 4%.

The Reserve Bank of India has established guidelines for exchanging damaged currency notes, ensuring that individuals don't face financial losses due to soiled, mutilated, or severely damaged notes. Banks are mandated to accept these notes, with refunds depending on the extent of the damage, and severely damaged notes require RBI evaluation.

IndusInd Bank's CEO, Sumant Kathpalia, resigned immediately, accepting responsibility for a Rs 1,960 crore accounting lapse in derivatives. An independent probe revealed misaccounting of internal derivative trades, impacting the bank's profit and loss. The board is reorganizing management and has halted internal derivative trading, awaiting RBI approval for interim leadership.

The Reserve Bank of India (RBI) has mandated that all Indian banks migrate their net banking facilities to the exclusive '.bank.in' domain by October 31, 2025. This initiative aims to combat rising online payment fraud and enhance trust in digital banking services by ensuring customers can easily identify authentic banking websites.

Finance Minister Nirmala Sitharaman convened a meeting to propel UPI's global expansion and interoperability, aiming for 1 billion transactions in 2-3 years. Discussions centered on fortifying UPI's infrastructure for resilience, scalability, and real-time monitoring to boost user confidence. UPI has witnessed substantial growth, with transactions reaching ₹261 lakh crore in FY 2024-25, marking a 30% increase in value.

The government has granted RBI Deputy Governor T Rabi Sankar a second one-year extension, prolonging his term until May 2026. The Appointments Committee of the Cabinet, led by Prime Minister Narendra Modi, approved the reappointment effective May 3, 2025. Sankar, initially appointed in May 2021, previously oversaw key departments and has a background as an IMF Consultant.

RBI's new guidelines empower minors to manage finances, allowing those above 10 to independently operate accounts with bank-set limits. Accounts can be opened by any minor through a guardian, including the mother. Banks may offer internet banking and debit cards based on risk assessment. Upon reaching adulthood, updated account details are required, ensuring a smooth transition and continued financial responsibility.

The Reserve Bank of India (RBI) has levied penalties on ICICI Bank, Bank of Baroda, IDBI Bank, and Bank of Maharashtra for regulatory compliance deficiencies. ICICI Bank faces a Rs 97.80 lakh penalty for KYC, cybersecurity, and credit card-related non-compliance. Bank of Baroda is penalized Rs 61.40 lakh for shortcomings in financial and customer services.

The Reserve Bank of India (RBI) has been aggressively buying gold for the last few years. Analysis of World Gold Council data shows that the percentage of gold in India’s total foreign exchange reserves has spiked in the last few years.

Banks across India, except in Karnataka, will remain open on April 30, 2025, despite Akshaya Tritiya. Karnataka observes a bank holiday for Basava Jayanti and Akshaya Tritiya, impacting both public and private sector banks.

Sebi informed the Supreme Court that it found violations of LODR regulations by Indiabulls Housing Finance (now Sammaan Capital) after examining certain transactions. An administrative warning was issued, and the RBI and corporate affairs ministry were notified. This action follows a plea seeking an SIT probe into alleged fund siphoning by the company's former promoters.

The Reserve Bank of India (RBI) will purchase ₹1.25 lakh crore of government securities in May through open market operations (OMOs) to bolster liquidity in the banking system. This initiative, conducted in four tranches, follows liquidity-easing efforts in April, including OMOs and variable rate repo operations.

A recent QuackQuack survey reveals that GenZ and Millennials are navigating modern dating with evolving approaches. GenZ prioritises clear communication and boundaries, while millennials emphasize emotional connection and seek the good in others. Both generations are moving away from toxic trends, valuing meaningful conversations and authentic expression, whether through emojis or thoughtful texts.

India's Central Bank RBI Governor Sanjay Malhotra announced that NPCI will have the authority to revise UPI transaction limits for in-person merchant transactions. Additionally, the regulatory sandbox will become theme-neutral and 'on-tap.' This follows the RBI's decision to cut the repo rate by 25 basis points and shift to an accommodative stance.