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RBI raises repo rate by 40 bps; EMIs to get bigger
Sensex falls 1,200 points following the hike New Delhi: The equated monthly installments (EMIs) on loans are all set to get bigger. Reserve Bank of India (RBI) Govrnor Shaktikanta Das on Wednesday announced an increase of 40 bps in the repo rate with immediate effect. The new rate is now 4.4 per cent. The...
RBI reduces growth forecast, keeps key rates unchanged
Reverse repo rate raised by 40 bps New Delhi: The Reserve Bank of India (RBI) has kept the benchmark repo rate unchanged once again. This is for the 11th time that the rate has remained unchanged. However, the Monetary Policy Committee has reduced the forecast for growth. The inflation is predicted to rise further....
RBI keeps repo, reverse repo rates unchanged; real GDP growth projected at 7.8%
New Delhi: The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has decided to keep the policy repo and reverse repo rates unchanged. While the repo rate continues to be 4 per cent, the reverse repo rate is 3.35 per cent. RBI Governor Shaktikanta Das announced the decisions of the MPC on...
RBI monetary policy: Interest rates unchanged; FY22 GDP growth projection at 9.6%
New Delhi: The Monetary Policy Committee (MPC) of the Reserve Bank of India kept the interest rates unchanged even as it kept its stance “accommodative”. While the repo rate has been retained at 4 per cent, while the reverse repo rate stands at 3.35 per cent. The lending rates have remained unchanged for last six...
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 cuts reverse repo rate by 25 basis points to push banks towards lending
The Reserve Bank of India (RBI) unexpectedly cut its key deposit rate for the second time in three weeks on Friday to discourage banks for parking idle funds with it and push them toward lending to revive the flagging economy amid the coronavirus lockdown. The RBI cut its reverse repo rate by 25 basis points...
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...