Central bank acknowledges further interest cuts unlikely as a recent rollback of small savings rate cut showed.
Despite the surge in Covid-19 infections, the growth target also remained unchanged at 10.5 per cent for the fiscal, but inflation was tweaked upwards slightly
We are giving up this discretion to give an explicit assurance to the markets that we will assist them in the conduct of the borrowing programme, said Patra
One challenge that the RBI might have to face in FY22 is the movement in exchange rate
Payment banks can now hold Rs 2 lakh instead of Rs 1 lakh as end-day balance per customer
The rationale behind this move is to level the playing field between banks and non-banks PPI issuers
It is only next year when RBI expects growth to increase to 6.8 per cent that repo rate will be raised
The Reserve Bank of India has retained the economic growth projection for the current financial year at 10.5%. In a statement after the first Monetary Policy Committee (MPC), RBI Governor Shaktikanta Das said the recent surge in Covid-19 infections adds uncertainty to the domestic growth outlook amidst tightening of restrictions by some state governments. In this comprehensive video, we have compiled all the important announcements in eleven different points. Watch it now.
RBI Monetary policy: RBI today decided to keep rates unchanged today amid rising inflation, lockdowns and Covid surge. Stay tuned for all the LIVE updates
The Reserve Bank of India (RBI) has expectedly left interest rates unchanged and maintained an accommodative stance as the economy faces a renewed threat to growth due to the resurgence of coronavirus cases. The Monetary Policy Committee (MPC) also kept its estimate for economic growth unchanged at 10.5 per cent for the current fiscal. Watch the video for the major highlights of RBI Governor Shaktikanta Das's statement on policy.
RBI monetary policy 2021: The recent surge in Covid-19 infections, however, imparts greater uncertainty to the outlook, RBI governor Shaktikanta Das said today
The focus was to be more on the language of the RBI on growth and inflation. Here, the RBI has been pragmatic on growth with a forecast of 10.5 per cent for fiscal 2021-22 (FY22), which is quite timel
RBI retains its growth outlook for the fiscal year started April 1 at 10.5%, unchanged from its February outlook.
RBI Governor Shaktikanta Das headed six-member MPC is scheduled to meet from April 5 to 7. The policy meet outcome will be announced on April 7
However, some want core to be monitored as well, MPC should be given leeway to choose target
RBI will need to do a tough balancing act
RBI Governor Shaktikanta Das, and Deputy Governors Michael Debabrata Patra and B P Kanungo spoke on a range of topics in a post-policy press meet
The Economic Survey, last week, had suggested that there should be one more round of AQR of banks after the Covid-related forbearance is over
Despite the fiscal activism in the Budget, the MPC stated that the recovery was yet to gain firm traction and needed continued policy support
The six-member MPC kept interest rates on hold, but said it will keep its stance accommodative to support the government's huge borrowing programme