Reserve Bank Monetary Policy Statement for 2019-20: Reduced Repo rate 0.25 points 6.25% to 6%.

Share Market

Reserve Bank Monetary Policy Statement for 2019-20: Reduced Repo rate 0.25 points 6.25% to 6%.

April 04, 2019

Monetary Policy Committee of the Reserve Bank of India led by Governor Shaktikanta Das today announced its first meeting for the Financial year 2019-20. This is the 2nd  Monetary Policy for Shaktikanta Das after his appointment as new RBI Governor.

In second RBI Monetary policy of Shaktikanta Das reduced repo rate 0.25 points 6.25% to 6%. Last month Monetary Policy Committee of reduced 0.25 points of Repo rate, this was first meeting conducted by RBI New Governor. Reserve Bank of India (RBI) on Thursday cut its key interest rate by 25 basis points or 0.25 per cent to 6 per cent.This is second time Reserve Bank of India bring it down 25 bps in 2019.

In Six Members of Monetary Policy Committee, Four Members voted for reduce repo rate 0 .25 points 6.25% to 6%. and other two members voted for keep the Repo rate unchanged. Central Bank of India  expected GDP growth at 7.2 per cent for financial year 2019-20.

Skymet Weather forecast below normal monsoon and RBI Monetary policy update of year beginning, Sensex lost 179.53

Top Gainer

Skymet Weather forecast below normal monsoon and RBI Monetary policy update of year beginning, Sensex lost 179.53

April 03, 2019

Reserve Bank of India will announce Interest rate decision on April 4 Thursday and Skymet published weather forecast on 2019 monsoon, Sensex dropped 46% down in today market. Nifty also lost 69 points on afternoon trade.

After announcement of 2019  Monsoon forecast Sensex start to falling down from 39164 to 38830, Sensex finally closed 38,877.12 points. National Stock Exchange closed market on 11,643.95 Nifty today reached 11,761.00 High and 11,629.15 low in today market.

Southwest Monsoon in 2019 https://t.co/NFLkt4hVvi

— SkymetWeather (@SkymetWeather) April 3, 2019

Top Gainers April 02 2019

IBULHSGFIN, MARUTI, BAJAJFINSV, HCLTECH, TATASTEEL

Check out today’s top gainers dominating the market - https://t.co/p6X8oze2az #NSEUpdates pic.twitter.com/0ZfsCaDemP

— NSEIndia (@NSEIndia) April 3, 2019

 Top Losers April 02 2019

BPCL, ZEEL, IOC, GAIL, SBIN

Here are today’s top losers - https://t.co/tgVBVnJVOH #NSEUpdates pic.twitter.com/tBxqRIRDaT

— NSEIndia (@NSEIndia) April 3, 2019

Skymet 2019 Monsoon Report

Monsoon 2019 is likely to be ‘below normal’ to the tune of 93% (with an error margin of +/-5%) of the long period average (LPA) of 887 mm for the four-month period from June to September.

YES Bank has appointed Ravneet Singh Gill as its new CEO, Yes Bank shares jump 14%

Share Market

YES Bank has appointed Ravneet Singh Gill as its new CEO, Yes Bank shares jump 14%

January 25, 2019

Yes Bank has appointed New Managing Director and CEO of Ranveet Singh, Yes Bank stated it has received approval from Reserve Bank of India. Ravneet Singh Gill is succeeding Rana Kapoor whose term ends on January 31. He will join Yes Bank on or before March 1, 2019.

After announcement of Ravneet Singh Gill is the New CEO and Managing Director for Yes Bank Private Limited. Yes Bank stock has Jumped 14% in Stock Market. Yes bank share Previous close was 215.40 in National Stock Exchange and 213.85 Bombay Stock Exchange Today Yes bank is the Most active stock in Share Market. In September 2018  the RBI had denied Kapoor's extension for the position of Yes Bank CEO. On same day Yes bank share plunged in Stock market.

Speaking on the occasion, Rana Kapoor, MD & CEO, YES BANK, said, "On behalf of the Board of Directors and 21,000+ YES BANKers, I am extremely pleased to welcome Ravneet Gill as the new MD & CEO of YES BANK and also convey our finest appreciation to RBI for its expeditious approval in less than 3 weeks. 

I have had the opportunity to have known and briefly interacted with Ravneet Gill professionally over the years, and have admired his exceptional professionalism and outstanding leadership style. I am certain that his diverse, comprehensive experience as a career banker will provide significant confidence & conviction to all stakeholders including employees, customers and investors.”

Ravneet Gill is an eminent leader with more than 3 decades of experience with the last 25+ years with Deutsche Bank AG, the 11th largest bank in the World. He is a well-known banker with an illustrious career spent spearheading all key banking functions including Corporate Banking, Capital Markets and Treasury Solutions (CMTS), Investment Banking, Retail & Private banking at Deutsche Bank AG. Most recently, Ravneet Gill was re-appointed as the MD & CEO of Deutsche Bank, India for the 3rd term by RBI.

YES BANK, India’s fourth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its Top Management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India.

Source: Yes Bank

Government appoints Shaktikanta Das as new RBI Governor for the period of three years

RBI

Government appoints Shaktikanta Das as new RBI Governor for the period of three years

December 11, 2018

Today Government appoints Shaktikanta Das as new RBI Governor, After Urjith Patel resigned as Reserve Bank of India Governor citing personal reasons, Patel's three-year term was to end in September 2019.

Shaktikanta Das born 26 February 1957 in Odisha, He is a retired 1980 batch IAS officer of Tamil Nadu cadre. Shaktikanta Das is a graduate (BA) and a postgraduate (MA) from St. Stephen's College, Delhi.

The Appointments Committee of Cabinet  has approved the appointment of Shaktikanta Das as new Governor for the period three year, He is the 25th Governor for Reserve Bank of India

The Appointments Committee of Cabinet (ACC) has approved the appointment of Shri @DasShaktikanta , IAS Retd. (TN: 1980) as Governor, Reserve Bank of India (RBI) for a period of three years.

— Ministry of Finance (@FinMinIndia) December 11, 2018

Shaktikanta Das is currently a member of the Finance Commission of India. Shaktikanta Das was Revenue Secretary and Fertilizers Secretary of India from 30 December to 15 June 2014 and He has also served as the economic affairs secretary during 2015 to 2017, Shaktikanta Das Government’s representative at the Group of 20 summits.

Urjit Patel resigns as RBI Governor, cited personal reasons for the resignation

RBI

Urjit Patel resigns as RBI Governor, cited personal reasons for the resignation

December 10, 2018

Reserve Bank of India Governor Urjit Patel has resigned, citing personal reasons. NDA Government  was appointed Urjit Patel as the RBI governor on 4 September 2016 after Raghuram Rajan resignation. He is served two year three months as Governor for RBI. Urjit Patel was born in Nairobi on 28 October 1963 to Manjula and Ravindra Patel. He has a Ph.D degree in Yale University, USA.

Statement by Governor

On account of personal reasons, I have decided to step down from my current position effective immediately. It has been my privilege and honour to serve in the Reserve Bank of India in various capacities over the years. The support and hard work of RBI staff, officers and management has been the proximate driver of the Bank’s considerable accomplishments in recent years. I take this opportunity to express gratitude to my colleagues and Directors of the RBI Central Board, and wish them all the best for the future.

Urjit R. Patel

10th December 2018

Finance Minister Arun Jaitley tweeted

The Government acknowledges with deep sense of appreciation the services rendered by Dr. Urjit Patel to this country both in his capacity as the Governor and the Deputy Governor of The RBI. It was a pleasure for me to deal with him and benefit from his scholarship. I wish Dr. Patel all the very best and many more years of public service.

I wish Dr. Patel all the very best and many more years of public service.

PM Narendra Modi react on twitter for RBI Governor resignation

Dr. Urjit Patel is a thorough professional with impeccable integrity. He has been in the Reserve Bank of India for about 6 years as Deputy Governor and Governor. He leaves behind a great legacy. We will miss him immensely.