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Reserve Bank of India

Reserve Bank of India

Central Bank

Appears in 3 stories

Stories

India's economic trajectory: From fifth to fourth largest economy

Rule Changes

MPC unanimously holds repo rate at 5.25% on February 6, 2026, after 125 bps cuts in 2025

India surpassed Japan in mid-2025 to become the world's fourth-largest economy. On February 1, 2026, Finance Minister Nirmala Sitharaman presented Union Budget 2026 (India's first major tax code rewrite since 1961), with ₹12.2 lakh crore for capital expenditure and ₹20,000 crore for carbon capture technologies.

Updated May 23

MUFG’s $4.4B bet on Shriram Finance: buying into India’s retail credit machine

Money Moves

Regulatory gatekeeper for ownership and control changes in NBFCs

MUFG just agreed to wire roughly $4.4 billion into Shriram Finance for a 20% stake—one of those deals that looks like 'just capital' until you read the fine print. The fine print is the story: board representation, minority-protection rights, and a separate $200 million non-compete/non-solicit payment tied to the promoter structure.

Updated May 15

RBI’s 2025 rate-cut cycle meets a US tariff shock

Money Moves

MPC holds repo at 5.25% Feb 6, 2026; easing cycle paused; focus shifts to liquidity via OMOs amid bond yield pressures and currency volatility

In 2025, under Governor Sanjay Malhotra, the RBI cut its repo rate by a cumulative 125 basis points—from 6.50% in February to 5.25% on December 5. It was the sharpest easing since 2019. The cuts came with $16 billion in liquidity injections via bond purchases and a dollar-rupee swap, which Malhotra called a rare Goldilocks period of sub-target inflation and strong growth.

Updated May 9