Crisil yesterday sharply cut its India growth estimate for 2020-21 to 3.5 per cent citing the severe dent in the economic activity due to the coronavirus pandemic
He stressed that a swap line was critical from the point of view of preserving global financial stability
The RBI governor also said that the impact of Covid-19 on India will be limited
One of the issues that will come up for review is how much transmission of policy rate actions to the final customer has happened.
The priority should be on convincing companies and households that the virus is under control, said the former RBI governor
To keep inflation under specified level, the government in 2016 had decided to set up MPC headed by RBI governor entrusted with the task of fixing the benchmark policy rate (repo rate)
Only a couple of sectors in India are likely to see some disruptions but alternatives are being explored to overcome those issues, he said
In an interview with PTI, Das said the government has remained within the limits set by the Fiscal Responsibility and Budget Management (FRBM) Committee for the budget deficit
Experts say LTRO is the Indian version of quantitative easing, and that there should be more of it in coming days
Nominating Das, the magazine said India's banks have faced a series of challenges, from non-performing loans to issues around fraud
According to the RBI governor, wider rural road network, better communication facilities, and easier access to micro credit will contribute to better price realisation for farmers
The no-rate-cut policy and preference to wait for the Budget and clarity on the fiscal front demonstrate Shaktikanta Das is maturing in his new role.
All the three private telecom players Vodafone Idea, Bharti Airtel and Jio has raised their taiff plans pre-paid tariff plans and the increase has been as high as 40-50%
The meeting will review the current global and domestic economic situation and financial stability issues, including those concerning banking and NBFCs, sources added.
The two discussed "global and domestic macro-economic scenario in both countries and regulatory developments", according to an official statement from the central bank
Administrator J B Bhoria and his team met Shaktikanta Das and other senior officials on Wednesday to apprise them of the position of the bank after relaxation of the withdrawal limit to Rs 40,000
The RBI governor also reviewed the credit off-take situation prevailing in the economy amid a slowdown, said sources
Is size an advantage for pursuing the objectives of public sector banking? What is the role of India's financial sector in achieving the $5-trillion economy target? Alokananda Chakraborty sums up.
He was not willing to comment about the potential real interest rate of India that the central bank should fixate upon as the MPC cannot pursue multiple targets
It means the existing promoters should go for a stake sale, bring in new promoters or new money into their NBFCs