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On Friday, RBI Governor Shaktikanta Das announced the majority decision of the MPC to maintain the repo rate at 6.5 percent.
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Governor Das Addresses Delhi Gathering, Notes Economic Complexity and Strong Dollar Index
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Wednesday's MPC meeting is the last one for this fiscal.
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The monetary policy framework, which came into effect about six years ago, mandates the Reserve Bank of India (RBI) to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side.
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With the latest hike, the repo rate or the short term lending rate at which banks borrow from the central bank is now close to 6 per cent.
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New Delhi: India’s retail inflation for May moderated from the previous month and came in at 7.04 per cent. However, it remained above RBI’s 6 per cent upper tolerance band for a fifth month in a row, data released on Monday showed. The retail inflation stayed well above the RBI’s tolerance limit due to high […]
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Mumbai: The Reserve Bank of India on Wednesday retained its growth projection at 7.2 per cent for the current fiscal on the back of improvement in urban demand and gradual recovery in rural India. Unveiling the third monetary policy for the current fiscal, RBI Governor Shaktikanta Das said the Indian economy remained resilient, and the […]
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Mumbai: Reserve Bank of India (RBI) on Friday kept the benchmark interest rate unchanged at 4 per cent and decided to continue with its accommodative stance despite rising inflation. This is the 11th time in a row that the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das has maintained the status quo. RBI […]
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Mumbai: Cryptocurrency is privately created and it is a very big threat to the country’s macroeconomic and financial stability, RBI Governor Shaktikanta Das said on Thursday. Replying to a question, Das said, “Cryptocurrency or currency which have currency like character, they will undermine the RBI ability to deal with issues of financial stability.” RBI Governor […]
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Das was appointed the RBI's 25th governor on December 11, 2018, initially for a period of three years.
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This is the eighth time in a row that the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das has maintained status quo.
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There are incipient signs of stress in the micro, small and medium enterprises (MSMEs) and retail segments," said the recently released Financial Stability Report for July 2021.
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The Reserve Bank will announce the resolution of the Monetary Policy Committee (MPC) on April 7.
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The policy repo rate or the short-term lending is currently at 4 per cent, and the reverse repo rate is 3.35 per cent.
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"The licensing policies for universal banks, small finance banks (SFBs) and payments banks are a step in this direction," Shaktikanta Das said.
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He said the heavy fall in markets, followed by quick gains on the equity benchmarks since the onset of the pandemic is the sharpest V-shaped recovery in the last 30 years.
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The meeting will be held virtually for the first time due to COVID-19 protocol, sources said.
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The six-member MPC headed by RBI Governor Shaktikanta Das has started its deliberations.