RBI Policy Update…
· 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 had last revised its policy repo rate or the short-term lending rate on May 22, 2020 in an off-policy cycle to perk up demand by cutting the interest rate to a historic low. · Now, two years later as we were emerging out of the pandemic situation, the global economy has seen tectonic shifts beginning 24th February with the commencement of the war in Europe, followed by sanctions and escalating geopolitical tensions: RBI Governor Shaktikanta Das. · The central bank said it would restore the width of the liquidity adjustment facility to 50 basis points. War could impede economic recovery; RBI cuts growth projection to 7.2 per cent for FY23: Governor Das. · Marginal standing facility, i.e. MSF rate & bank rate remain unchanged at 4.25%. Further, it has been decided by Reserve Bank to restore the width of liquidity adjustment facilities, i.e. LAF corridor to 50 basis points – the position that prevailed before the pandemic. · Global crude oil prices remain volatile at elevated levels: RBI Governor Das. · RBI to maintain orderly financial condition in market and will take steps to contain impact of global spillovers. · Indian economy is steadily reviving from pandemic-induced slowdown, says Das. · MPC decides to keep reverse repo rate unchanged at 3.35 pc: RBI Governor. · Indian economy comforted by large forex reserves; RBI stands ready and resolute to defend economy: SAAAR
· 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 had last revised its policy repo rate or the short-term lending rate on May 22, 2020 in an off-policy cycle to perk up demand by cutting the interest rate to a historic low. · Now, two years later as we were emerging out of the pandemic situation, the global economy has seen tectonic shifts beginning 24th February with the commencement of the war in Europe, followed by sanctions and escalating geopolitical tensions: RBI Governor Shaktikanta Das. · The central bank said it would restore the width of the liquidity adjustment facility to 50 basis points. War could impede economic recovery; RBI cuts growth projection to 7.2 per cent for FY23: Governor Das. · Marginal standing facility, i.e. MSF rate & bank rate remain unchanged at 4.25%. Further, it has been decided by Reserve Bank to restore the width of liquidity adjustment facilities, i.e. LAF corridor to 50 basis points – the position that prevailed before the pandemic. · Global crude oil prices remain volatile at elevated levels: RBI Governor Das. · RBI to maintain orderly financial condition in market and will take steps to contain impact of global spillovers. · Indian economy is steadily reviving from pandemic-induced slowdown, says Das. · MPC decides to keep reverse repo rate unchanged at 3.35 pc: RBI Governor. · Indian economy comforted by large forex reserves; RBI stands ready and resolute to defend economy: SAAAR
