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RBI cuts growth forecast to 9.5% in 2021-22, benchmark rates remain unchanged

The Reserve Bank of India (RBI) on Friday projected a real gross domestic product (GDP) growth of 9.5 per cent in the current financial year, a 1 per cent cut from an earlier prediction 10.5 per cent. The sharp cut in the growth forecast is due to the impact of the second wave of the...

RBI keeps key policy rates unchanged, predicts 10.5% GDP growth

In a bid to support India’s sharp recovery from the COVID-19 pandemic, the Reserve Bank of India (RBI) on Friday kept the key policy rates unchanged in its Monetary Policy Committee (MPC) review meeting.  Notably, MPC has kept the repo and reverse repo rate unchanged since the last three announcements. Unanimous decision While the central...

RBI keeps repo, reverse repo rates unchanged; predicts real GDP growth at -7.5%

The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) on Friday decided to keep the repo rate unchanged at 4 per cent. The reverse repo rate has been also kept unchanged at 3.35 per cent. The rates have been kept unchanged by the central bank for the third time in a row amid concerns...

Indian economy showing signs of normalcy after easing of restrictions: RBI Governor

The Indian economy has started showing signs of normalcy with ease in lockdown restrictions across the country, RBI Governor Shaktikanta Das said Saturday. He added that post containment of COVID-19, a very careful trajectory has to be followed in the orderly unwinding of countercyclical regulatory measures. The financial sector should return to normal functioning without...

PC asks RBI to tell govt to do its duty, take fiscal measures

Former Union finance minister and senior Congress leader P Chidambaram has slammed the central government and questioned why the Reserve Bank of India (RBI) is infusing more liquidity as the growth in the financial year 2020-21 is headed towards negative territory. In a series of tweets, Chidambaram said, “RBI Governor says demand has collapsed, growth...

RBI allows 3-month moratorium on EMIs, cuts repo rate to fight economic crisis

At a time when economies across the world are finding it difficult to combat the growing economic crisis amid the coronavirus lockdown, RBI governor Shaktikanta Das on Friday announced that its Monetary Policy Committee (MPC) decided to advance its meeting in view of the Covid-19 crisis and voted for a massive reduction in repo rate...

Coronavirus scare: RBI announces safeguard measures for Indian economy

Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday announced measures to safeguard the Indian economy amid meltdown over coronavirus outbreak concerns. The central bank chief said that the RBI has proposed to conduct another six months USD sell/buy swap on March 23 to provide liquidity to markets. “To further improve monetary transmission RBI...