RBI Governor Shaktikanta Das said the monetary policy committee decided to hold the lending rate, or the repo rate, steady at 4 per cent, and its reverse repo, or the rate at which it absorbs excess cash from lenders - unchanged at 3.35 per cent.
Despite GDP and industrial growth rates being fragile and volatile, the RBI is likely to start raising the policy rate in the near future by up to 100 bps in 2022.
If the RBI maintains status quo in policy rates on Wednesday, it would be the ninth consecutive time since the rate remains unchanged. The central bank had last revised the policy rate on May 22, 2020, in an off-policy cycle to perk up demand by cutting interest rate to a historic low.
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.
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.
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 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.
Observing that it was difficult to make growth projections at this point of time, the Reserve Bank in its Monetary Policy Report said the lockdown following the outbreak of COVID-19 and expected contraction in global outlook would weigh heavily on the growth outlook.
SBI Loan Moratorium: State Bank of India (SBI), India's largest lender has good news for its customers, amid coronavirus crisis. SBI Bank has announced all its term loan borrowers a three-month moratorium for its customers under the terms of a COVID 19- RBI package announced on Friday. We bring to you complete details of SBI EMI moratorium.
Prime Minister Narendra Modi on Friday said the Reserve Bank of India (RBI) had taken giant steps to safeguard the economy from the impact of the coronavirus. The RBI cut the benchmark interest rate by 75 basis points to 4.4 per cent on Friday to deal with the hardship caused due to the outbreak of COVID-19.
Equity benchmark indices advanced during early hours on Thursday ahead of the Reserve Bank of India (RBI) meeting to decide on key interest rates.
RBI Monetary Policy: The Reserve Bank of India maintained its status quo by keeping repo rate unchanged at 5.15 per cent saying it will continue with the accommodative stance as long as it takes.
The Reserve Bank of India kept its key interest rate unchanged on Thursday after inflation breached its medium-term target for the first time in over a year.
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