"In view of the rapidly evolving situation, especially on the global front, we are continuously monitoring and assessing the economic outlook. We will be agile and proactive in our actions on the policy front, as always," RBI Governor said, while addressing the 24th FIMMDA-PDAI Annual Conference in Bali
Sanjay Malhotra said that trade tariff related measures have clouded the economic outlook across regions, posing risk of new headwinds for global growth and inflation
It may be noted that the growth projection for the current year has been marked down by 20 basis points relative to our earlier assessment of 6.7 per cent in the February policy": RBI Governor
The RBI slashed key interest rate by 25 basis points, for the second time in a row, to support a shuttering economy hit by reciprocal tariffs imposed by the US
Malhotra says “We have included finance to small renewable energy projects – solar, biomass based, windmills, micro-hydel plants and non-conventional energy based public utilities viz street lighting systems, and remote village electrification projects as part of priority sector lending”
This initiative aims to reduce cyber security threats and malicious activities like phishing; and, streamline secure financial services, thereby enhancing trust in digital banking and payment services, says RBI
The bank has kept the repo rate unchanged at 6.5 per cent since February 2023; the last time the RBI had reduced the rate was during Covid times and thereafter, it was gradually raised to 6.5 per cent
