RBI Keeps Reserve Repo Rate Unchanged At 6.5%
In a major business development, the Reserve Bank of india (RBI) kept repo rate unchanged at 6.5%. The last time RBI Monetary Policy Committee announced a hike in reserve repo rate by 25% was in 2023 February. The decision was taken considering the current inflation and economic crisis, globally. However India and its made in India initiative is working wonders, with India maintaining its economic situation.
Tags: RBI, monetary policy committee, Reserve Repo Rate, Indian Business, Inflation
Courtesy: Live Mint
RBI Maintains Status Quo On Repo Rate At 4%
For the seventh consecutive time, the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das has kept the benchmark interest rate unchanged at 4%. Reportedly, the "accommodative stance is maintained as the economy is still recovering from the COVID-19 second wave". This move supports growth and keeps inflation in check. Accordingly, the reverse repo rate will remain at 3.35% and annual inflation at 4%.
Tags: RBI, SHAKTIKANTA DAS, monetary policy committee, interest rate, Economy
Courtesy: Press Trust Of India
RBI Suggests Centre, States To Cut Petrol, Diesel Taxes To Ease Inflation
In order to ease the inflation, the RBI’s Monetary Policy Committee on June 4 suggested the Centre and states to reduce taxes and duties on fuel. The RBI’s remark came as petrol prices crossed Rs 100/litre in some states. Reportedly, taxes constitute 58% and 52% of petrol and diesel price. Highlighting the need for adjustment in excise duties, cess and taxes by governments, the MPC predicted inflation rate at 5.1%.
Tags: Petrol Price, Inflation, RBI, monetary policy committee
Courtesy: The Print
RBI Monetary Committee Keeps Repo Rate At 4%; Expects Economic Recovery by Q4
The RBI Monetary Planning Committee has decided to continue the repo rate of 4%. RBI Governor ShaktiDas on October 9 said that the Indian economy was entering a "decisive phase" due to the pandemic. He added that owing to the pandemic, a economic contraction of 9.5% for the fiscal year is expected and opined that the economy would see positive growth by the fourth quarter of this fiscal year.
Tags: RBI, repo rate, monetary policy committee, Covid-19
Courtesy: The Indian Express
Three Economists Appointed To RBI's Monetary Policy Committee
Three economists - Ashima Goyal, Jayanth R Varma, and Shashanka Bhide - have been appointed as the new independent members of the RBI's Monetary Policy Committee (MPC). The Union Government appoints independent members for the committee, which is responsible for maintaining price stability, and deciding the repo rate to control inflation. The other members of the six-member committee include the RBI governor, deputy governor and an official… read-more
Tags: RBI, monetary policy committee, Central Government, repo rate
Courtesy: Livemint