BofA says the RBI will not only cut rates now, but will follow it up with another 75 bps cut in rest of the financial year 2020-21 (FY21)
Governor Das has recently turned his attention toward the fragile financial sector amid forecasts for a sharp rise in bad loans
Here are the top 10 business headlines on Tuesday morning
Contracting economy, rising bond supply, inching up of long-term rates reduce prospects of successive rate cuts
This will also mean that Saggar will be included the six-member monetary policy committee (MPC) as an internal RBI member.
Monetisation of deficit is unlikely to spark inflation
Following this, the reverse repo rate, or the rate at which the banks perk extra liquidity with the RBI, was reduced to 3.35 per cent from 3.75 per cent - both at their historic lows.
Since March 27, the RBI has acted proactively and ahead of time to contain the fallout of the Covid-19 pandemic.
The recent spate of rate cuts by the Reserve Bank of India could be bad news for savers
Here's how borrowers are likely to gain from RBI's rate cut, subject to banks, non-banking financial companies passing on the benefits to customers
'Today RBI has taken giant steps to safeguard our economy from the impact of the Coronavirus,' said PM Modi
Domestic brokerage Emkay congratulated policymakers for acting earlier than other countries, but rued that there is not much to cushion the economic impact
In India, growth outlook over the next couple of quarters has become more uncertain on the prospects of a global recession and severe investor risk aversion.
RBI governor Shakikanta Das announces US dollar sell/buy swap and Long Term Repo Operation.
If Guc Das announces a rate cut, it will be first inter-meeting rate reduction since the monetary policy committee was instituted in February 2016
"The monetary policy framework is in operation for three and a half years. We have initiated a process of internal review of how the monetary policy framework has worked," Das said.
RBI move to exempt banks from maintaining CRR may free up to Rs 2 trn for lending to retail and MSME segments, says ICRA
RBI's focus now is on improving transmission and lending
From Emami cement business sale to govt diktat to pharma associations, Business Standard brings you the top headlines of the day
Business Standard Opinion pieces for the day talk about RBI's decision and other issues related policy and politics.