RBI lowers GDP growth projection to 9.5 pc for 2021-22
Business | June 04, 2021 12:30 ISTThe Reserve Bank on Friday lowered the country's growth projection for the current financial year to 9.5 percent from 10.5 percent.
The Reserve Bank on Friday lowered the country's growth projection for the current financial year to 9.5 percent from 10.5 percent.
The Reserve Bank of India on Friday projected the retail inflation at 5.1 per cent in the current financial year ending March 31, 2022.
RBI Monetary Policy: RBI has maintained a status quo on repo rate and reverse repo rate on account of uncertainty over the impact of the second wave.
30-share BSE index was trading 199.01 points or 0.40 per cent higher at 49,400.40 and broader NSE Nifty advanced 68.90 points or 0.47 per cent to 14,752.40.
The Reserve Bank of India has maintained status quo fifth time in a row on policy rate. The bank has kept repo unchanged at 4 per cent.
RBI Governor Shaktikanta Das-headed rate-setting panel MPC started its three-day deliberation on the next monetary policy on Monday amid sudden surge in COVID-19 cases and the government's recent mandate asking the central bank to keep retail inflation around 4 per cent.
The RBI is slated to announce its first bi-monthly monetary policy of the 2021-22 fiscal on April 7, 2021 after a three-day meeting of the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das.
The Reserve Bank's rate-setting Monetary Policy Committee (MPC) began its meeting on Wednesday and is likely to hold interest rates and continue with accommodative policy stance so that necessary monetary action could be taken to push growth.
CPI inflation rose sharply to 7.3 per cent in September and further to 7.6 per cent in October, RBI Governor Shaktikanta Das said while unveiling its bi-monthly monetary policy review.
Monetary Policy Committee (MPC) voted unanimously to keep the policy repo rate unchanged at 4 per cent and continued with its accommodative stance to support growth. The committee, which has cut rates by 115 basis points since the Covid-19 crisis hit in March, has kept rates on hold since May.
Brickwork Ratings(BWR) in a report said that given the continued contraction of the economy, MPC is likely to continue with its accommodative monetary policy stance to manage financial stability and support growth recovery.
The Reserve Bank is likely to keep the benchmark interest rates unchanged in its next monetary policy review in view of heightened retail inflation which has persistently remained above its comfort level, feel experts.
Reserve Bank of India (RBI) Monetary Policy Committee decided to hold key policy rates unchanged at existing levels on Friday amid high inflation, said Governor Shaktikanta Das. Three new external members in the panel voted in today's decision.
The newly-constituted Monetary Policy Committee (MPC) of the Reserve Bank began its three-day deliberations on Wednesday, amid expectations that the central bank will maintain status quo on the benchmark lending rates in view of hardening inflation.
The Reserve Bank of India will announce the monetary policy on October 9 as the Monetary Policy Committee (MPC) will meet during October 7-9.
The appointment has come after the government faced widespread criticism over failing to act on time to appoint an external panel to the Monetary Policy Committee (MPC).
The central bank, however, did not give any reason for rescheduling the meet. The interest-setting panel was scheduled to meet for three-days beginning Tuesday for RBI’s bi-monthly monetary policy review.
The six-member Monetary Policy Committee (MPC) headed by the RBI Governor is scheduled to announce its decision on August 6.
The Reserve Bank of India (RBI) Governor Shaktikanta Das addressed a press conference on Friday. The briefing comes days after Finance Minister Nirmala Sitharaman had given the details of the Rs 20 lakh crore economic relief package announced by Prime Minister Narendra Modi last week.
The Reserve Bank of India''s directive asking banks to make 10 per cent provisions on all moratorium loans will shave at least Rs 35,000 crore off their profitability in financial years 2019-20 and 2020-21, according to a report.
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