The RBI is expected to maintain the repo rate at 6.5% during its August meeting, citing persistent inflation and stable economic growth, with potential for rate cuts later if inflation decreases. The decision aligns with the US Federal Reserve's stance on maintaining interest rates.

APIX and RBI have joined forces to organise the prestigious HaRBInger 2024 hackathon, aimed at driving financial innovation globally. This collaboration marks a significant effort to tackle critical challenges in the financial ecosystem, focusing on enhancing security and inclusivity.

“We believed that if left unchecked, these vulnerabilities could escalate into a bigger problem. Therefore, we decided to act preemptively to slow down credit growth,” Das explained. He expressed satisfaction with the outcome, noting a deceleration in unsecured lending growth as intended.

The IT sector, characterized by comfortable valuations, witnessed renewed investor interest, driving Nifty IT to a 3.5 percent surge on June 7. Leading players such as Infosys, Tech Mahindra, and TCS spearheaded the gains, propelling the sectoral index to its best performance in four years, with a rise of up to nine percent since the previous Friday.

The Monetary Policy Committee, consisting of three RBI members and three external members, decided to keep the repo rate steady at 6.5 percent for the eighth consecutive meeting. RBI Governor Shaktikanta Das emphasized the bank's cautious stance of "withdrawal of accommodation."

Government may lower fiscal deficit target below 5.1% of GDP for FY25 , buoyed by higher GDP growth, buoyancy in tax revenues, and anticipated agricultural sector growth, amidst geopolitical tensions and global market uncertainties.

RBI Deputy Governor Swaminathan J warned Asset Reconstruction Companies (ARCs) against regulatory violations and urged them to adopt a regulation-plus approach, emphasising the need for strong governance and ethics to effectively address stressed assets.

CEO and MD Ashok Vaswani assured that Kotak Mahindra Bank will continue to onboard new customers via non-digital channels and across all products other than credit cards.

Following Infina Finance's Rs 60 crore donation to the BJP, the RBI barred both Infina Finance and Kotak Mahindra Bank from onboarding new customers due to IT risk management concerns.

The Reserve Bank of India's April bulletin warned that extreme weather conditions could pose a risk to inflation, along with prolonged geopolitical tensions that could keep crude oil prices volatile.

In its recent bulletin titled "Tailwinds Propelling India's Economic Take-off," released on Tuesday, the RBI lists six key factors expected to drive the country toward becoming the world's third-largest economy.

Goyal highlighted the tendency of banks to offer better interest rates for bulk corporate deposits, neglecting retail deposits that contribute significantly to long-term liquidity.