RBI's Deputy Governor Michael D Patra said new monetary policy will result in policy effectiveness and welfare maximisation going ahead.
BSE Sensex rose 1.76 per cent or 1,016.03 points to close at 58,649.68 points on Wednesday. The NSE Nifty too closed 1.71 per cent or 293.05 points higher at 17,469.75.
With no change in repo and reverse repo rates, borrowers will continue to repay loans with low interest rates. Inflation worries seem to continue among consumers, but it might have a positive impact on the economy in long term.
It was widely expected that the RBI would maintain status quo with benchmark interest rates in the backdrop of concerns raised by the Omicron variant of the coronavirus.
The Reserve Bank of India would be revealing its policy stance at 10 A.M. on Wednesday. It is expected to keep lending rates unchanged to gauge concerns triggered by the Omicron variant of the coronavirus.
While high rates may reduce inflation, they will affect borrowers who are already suffering from pay cuts and job losses. There is a growing concern among people on how the new rates will affect their lives.
The RBI Governor-headed Monetary Policy Committee is scheduled to meet during December 6-8, 2021. The decision of the rate-setting panel would be announced on Wednesday.
He would take his colour, brushes and canvas outside to paint and talk with his love. He would stand close to the window and paint, keeping an eye on his muse.
They say the violin mimics the human sound. In his case, it was that of love, of longing. He didn’t know any other way of loving.
Younger people do not have much progressive beliefs; a 2017 survey found that one-third of young people opposed inter-caste marriage.
The pandemic has made it clear that virtual learning is here to stay. In the West, the big question is whether it will dilute the quality of the college experience and education. In India, which grapples with digital divide, the question remains whether this will reach most people at all.
Even after two years of the Covid-19 pandemic, many 'informed' individuals in India continue to deny the virus with unscientific claims and unfounded data. The latest? Omicron will end the pandemic.
Across Asia there are deeply entrenched obstacles to a mode of higher education that is liberal in multiple senses – disciplinary and epistemological but also social and political.
The two incidents in the recent past, one in Mon district of Nagaland and the other at Lakhimpur Kheri in Uttar Pradesh, undermined the core principles democracy and federalism.