Reverse repo rate cut News
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Repo rate unchanged at 4 percent.
Reverse repo rate unchanged at 3.35 percent.
RBI continues with its accomodative stance.
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RBI on loan moratorium.
RBI keeps key rates paused.
5th pause in interest rates.
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Bi-monthly monetary policy today.
MPC meeting began on Wednesday.
1st monetary policy after budget announcement.
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Repo rate unchanged at 4 percent.
Reverse repo rate unchanged at 3.35 percent.
RBI continues with its accomodative stance.
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Kotak Mahindra Bank slipped 1.39 percent, Indusind Bank (0.90 percent), SBI (0.37 percent), ICICI Bank (0.20 percent), Federal Bank (0.13 percent) and HDFC Bank (0.04 percent) on BSE.
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Parekh further said that he agrees with the RBI's view that the implementation of the Goods and Services Tax (GST) was fairly smooth.
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India's largest state by population Uttar Pradesh, along with Punjab, Maharashtra, and Karnataka are among the states that have announced loan waivers for farmers.
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The RBI's Monetary Policy Committee (MPC) on Wednesday decided to reduce the repo rate -- at which it lends to banks -- by 0.25 percent to 6 percent.
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The difference now stands at 2 percent, after the RBI cut the repo rate by 25 basis points to 6 percent, above the central bank`s inflation target of 4 percent.
The government has taken note of the statement of the Monetary Policy Committee (MPC) and its assessment of the inflation and growth outlook, he added.
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The most liquid 10-year bonds initially fell after the decision, but then rebounded to trade flat for the day, with the yield at 6.45 percent, up 1 bps from its Tuesday close.
The decision to maintain the repo rate was taken by the six-member Monetary Policy Committee (MPC) headed by Patel. Four members of the panel voted in favour of reducing the key lending rate.
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Here are the key highlights of the third Bi-monthly Monetary Policy Statement issued by RBI.
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In the wake of record low retail inflation, the monetary policy committee (MPC) headed by RBI Governor slashed policy repo rate by 25 basis points to 6 percent and reverse repo by a similar proportion to 5.75 percent.
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The decision to lower the benchmark rate by 25 bps to 6 percent was already factored in, traders said. They added that no change in cash reserve ratio (CRR) left the markets cold too.
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Four members of the monetary policy committee voted to cut rates by 25 bps, while one voted for a 50 bps cut and one voted for leaving rates unchanged.
Four members of the monetary policy committee voted to cut rates by 25 bps, while one voted for a 50 bps cut and one voted for leaving rates unchanged.
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In line with record low retail inflation, the RBI Governor headed Monetary Policy Committee (MPC) cut policy repo rate by 25 basis points to 6 percent and the reverse repo by similar proportion to 5.75 percent.
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