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RBI cuts repo rate by 75 bps to 4.4%; other key highlights of central bank's monetary policy review
Business

RBI cuts repo rate by 75 bps to 4.4%; other key highlights of central bank's monetary policy review

The RBI on Friday allowed banks to put on hold EMI payments on all term loans for three months as it slashed the cost of fresh borrowing by cutting policy interest rate by steepest in more than 11 years, joining the efforts of the government to counter the economic fallout of the fast-spreading coronavirus pandemic

Coronavirus Outbreak: RBI cuts repo rate by 75 bps; full text of Shaktikanta Das monetary policy statement
Business

Coronavirus Outbreak: RBI cuts repo rate by 75 bps; full text of Shaktikanta Das monetary policy statement

The RBI on Friday put on hold EMI payments on all term loans for three months and cut interest rate by steepest in more than 11 years as it joined the government effort to rescue a slowing economy that has now got caught in coronavirus whirlwind

Coronavirus Outbreak: RBI cuts repo rate by 75 bps to 4.40%; full text of seventh bi-monthly policy statement
Business

Coronavirus Outbreak: RBI cuts repo rate by 75 bps to 4.40%; full text of seventh bi-monthly policy statement

All members voted for a reduction in the policy repo rate and maintaining the accommodative stance as long as it is necessary to revive growth and mitigate the impact of COVID-19 on the economy, while ensuring that inflation remains within the target

RBI monetary policy: Central bank announces incentive for lending to MSME, home, auto sectors
Business

RBI monetary policy: Central bank announces incentive for lending to MSME, home, auto sectors

In a bid to increase lending to MSME as well as to auto and home segment, Reserve Bank on Thursday tweaked maintenance of cash reserve ratio (CRR) norms by providing relaxation in calculation of total deposits

RBI keeps benchmark interest rate unchanged at 5.15%; other key highlights of monetary policy review
Business

RBI keeps benchmark interest rate unchanged at 5.15%; other key highlights of monetary policy review

The Reserve Bank of India, for the second straight time, on Thursday kept its key policy rate unchanged at 5.15 percent, maintaining its accommodative policy stance as long as it was necessary to revive growth

RBI monetary policy: Governor Shaktikanta Das says central bank has many other tools to revive growth, not just interest rates
Business

RBI monetary policy: Governor Shaktikanta Das says central bank has many other tools to revive growth, not just interest rates

After leaving benchmark interest rates rates unchanged in the second consecutive policy review, RBI governor Shaktikanta Das on Thursday said the central bank has many other instruments to address the sluggishness the economy, not just interest rates

RBI monetary policy: Central bank raises CPI inflation projection to 6.5% for January-March; overall outlook 'highly uncertain'
Business

RBI monetary policy: Central bank raises CPI inflation projection to 6.5% for January-March; overall outlook 'highly uncertain'

The Reserve Bank of India on Thursday revised upwards its retail inflation projection for the last quarter of the current fiscal to 6.5 percent owing to likely increase in input costs for milk and pulses amid volatile crude oil prices

RBI monetary policy updates: Central bank has many other tools to revive growth, not just interest rates, says Shaktikanta Das
Business

RBI monetary policy updates: Central bank has many other tools to revive growth, not just interest rates, says Shaktikanta Das

The Monetary Policy Committee (MPC) of the RBI is expected to maintain status quo on the rates keeping in view the current economic situations.

RBI monetary policy: Central bank estimates GDP growth to expand at 6% in next fiscal; expects rural private consumption to recover
Business

RBI monetary policy: Central bank estimates GDP growth to expand at 6% in next fiscal; expects rural private consumption to recover

The Reserve Bank of India on Thursday projected the economy to expand by 6 percent during the next financial year, pegging it at the lower end of the GDP growth estimate of the Economic Survey

RBI monetary policy: Central bank keeps benchmark interest rate unchanged at 5.15%; maintains accommodative policy stance
Business

RBI monetary policy: Central bank keeps benchmark interest rate unchanged at 5.15%; maintains accommodative policy stance

The Reserve Bank of India, for the second straight time, on Thursday kept its key policy rate unchanged at 5.15 percent, maintaining its accommodative policy stance as long as it was necessary to revive growth

RBI keeps repo rate unchanged at 5.15%: Full text of sixth bi-monthly policy statement for fiscal 2019-20
Business

RBI keeps repo rate unchanged at 5.15%: Full text of sixth bi-monthly policy statement for fiscal 2019-20

All members of the MPC –  Chetan Ghate, Pami Dua, Ravindra H. Dholakia, Michael Debabrata Patra, Bibhu Prasad Kanungo and Shaktikanta Das – voted in favour of the decision. the RBI said.

RBI monetary policy: Shaktikanta Das says central bank can't keep on slashing policy rates every time
Business

RBI monetary policy: Shaktikanta Das says central bank can't keep on slashing policy rates every time

After surprisingly holding the rates, Reserve Bank governor Shaktikanta Das on Thursday said the Reserve Bank cannot "mechanically" keep cutting interest rates every time

RBI monetary policy: Central bank unexpectedly pauses interest rate on inflation concern, cuts GDP growth forecast
Business

RBI monetary policy: Central bank unexpectedly pauses interest rate on inflation concern, cuts GDP growth forecast

The Reserve Bank on Thursday unexpectedly kept benchmark interest rates unchanged on concerns of headline inflation breaching its medium-term target, despite a worrying slowdown in the economy

RBI raises inflation projection for second half of current fiscal on spike in vegetable prices
Business

RBI raises inflation projection for second half of current fiscal on spike in vegetable prices

The Reserve Bank of India (RBI) on Thursday raised its inflation projection to 5.1-4.7 percent for the second half of the current fiscal on the back of spike in prices of vegetables such as onion and tomatoes

RBI monetary policy: Central bank sharply lowers growth projection to 5% for current fiscal
Business

RBI monetary policy: Central bank sharply lowers growth projection to 5% for current fiscal

The Reserve Bank on Thursday sharply lowered the growth forecast for the current financial year to 5 percent from the earlier estimate of 6.1 percent on account weak domestic and external demand

RBI keeps benchmark interest rate unchanged at 5.15%; other key highlights of monetary policy review
Business

RBI keeps benchmark interest rate unchanged at 5.15%; other key highlights of monetary policy review

The Reserve Bank of India on Thursday kept the key policy rate unchanged at 5.15 percent and decided to continue with its accommodative stance to support the economy

RBI keeps repo rate unchanged at 5.15%: Full text of fifth bi-monthly policy statement for fiscal 2019-20
Business

RBI keeps repo rate unchanged at 5.15%: Full text of fifth bi-monthly policy statement for fiscal 2019-20

The Reserve Bank of India (RBI) on Thursday has kept the key short-term lending (repo) rate unchanged at 5.15 percent at its fifth bi-monthly monetary policy review of the ongoing fiscal

RBI cuts repo rate by 25 bps to 5.15%: Full text of fourth bi-monthly policy statement for fiscal 2019-20
Business

RBI cuts repo rate by 25 bps to 5.15%: Full text of fourth bi-monthly policy statement for fiscal 2019-20

The Reserve Bank of India (RBI) on Friday cut key short-term lending (repo) rate by 25 bps to 5.15 percent at its fourth bi-monthly monetary policy review of the ongoing fiscal

Full text: Rahul Gandhi announces resignation as Congress chief, says party 'must radically transform itself'
Politics

Full text: Rahul Gandhi announces resignation as Congress chief, says party 'must radically transform itself'

'As President of the Congress Party, I am responsible for the loss of the 2019 election,' Rahul Gandhi said in his resignation letter.

Full text: On 10th anniversary of 26/11 Mumbai attacks, MEA accuses Pakistan of showing 'little sincerity' in bringing planners to book
India

Full text: On 10th anniversary of 26/11 Mumbai attacks, MEA accuses Pakistan of showing 'little sincerity' in bringing planners to book

In a statement, the Ministry of External Affairs accused Pakistan of denying closure to the families of the 166 victims of the 26/11 Mumbai terror attacks, saying Pakistan was "showing little sincerity in bringing perpetrators to justice".