Monday, Oct 18, 2021
Oct 08, 2021 Meghna Maiti Experts say interest rates seem to have bottomed out so if buying assets such as a home or car is on your cards, borrowers should go ahead.
Apr 07, 2021 Outlook Web Bureau This is the fifth time in a row the central bank has maintained a status quo on policy rate.
The reverse repo rate will also continue to earn 3.35 per cent for banks for their deposits kept with RBI.
Dec 04, 2020 Outlook Web Bureau The RBI governor announced that the decision was taken unanimously and added that the reserve repo rate too was kept unchanged at 3.35 per cent.
Three new external members in the panel voted in today's decision.
The reverse repo rate will also continue to earn 3.35 per cent for banks for their parked deposits kept with the RBI.
CRR for all banks was cut by 100 basis points to release Rs 1.37 lakh crore across banking system
The RBI retained GDP growth at 5 per cent for 2019-20 and pegged it at 6 per cent for the next fiscal.
After opening in the green and staying there till the time the RBI policy announcement -- cutting the repo rate by expected 25 basis points -- came, the stocks then started declining.
While SBI was to first one to link its loans and deposits to the repo rate from May and home loans from July, six other peer banks like announced the same last week in which the asset side pricing has moved down fast.
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RBI governor Shaktikanta Das said Wednesday that the central bank has lowered the GDP growth forecast for 2019-20 from 7 per cent to 6.9 per cent owing to demand and investment slowdown, which is causing dampening effect on the growth
This is the fourth consecutive time that the RBI has reduced repo rate. In the earlier three policies, it reduced repo rate by 25 basis points each.
The central bank, however, kept monetary policy stance at 'neutral'.
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The six-member Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das will announce the resolution in noon today.
The RBI in its last bi-monthly monetary policy announcement for the current fiscal also lowered the retail inflation forecast for the first half of next fiscal beginning April, to 3.2-3.4 per.
As per the review statement, based on an overall assessment, GDP growth for 2018-19 has been projected at 7.4 per cent (7.2-7.3 per cent in H2) as in the October policy, and for H1:2019-20 at 7.5 per cent.
A majority of the analysts and bankers were expecting the six-member Monetary Policy Committee to go at least for a 0.25 per cent hike in key rates at the review.
The decision to hike key interest rates comes amid a hike in crude oil prices and rising inflation.
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Fishermen fishing from Kumari dam as it overflowing following heavy rain in Kanyakumari district.
PTI Photo
Union External Affairs Minister S Jaishankar is greeted by the officials on his arrival in Israel.
PTI Photo
Commuters wade through amid heavy rain in Gurugram.
PTI Photo
People play instruments during Kullu Dussehra, in Kullu.
PTI Photo
BJP Yuva Morcha workers protest against the alleged attack on the ISKCON temple at Bangladesh, in front of Vivekananda House in Kolkata.
PTI Photo
The Opposition is hoping for a rich election harvest in Uttar Pradesh but Lucknow appears to be a long way from the killing fields.
The former Delhi Police employee has also emerged as the go-to man for the authorities to reach out to the agitating farmers.
Outwardly peaceful, Kashmir has seen a spate of civilian killings in recent weeks. A silent unease has now exploded into fear and concern after the shooting of minorities.
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