Governor Shaktikanta Das to announce MPC decisions today
The Reserve Bank of India's Governor Shaktikanta Das is set to announced the Monetary Policy Committee (MPC)'s decisions today.
RBI likely to keep interest rates unchanged, may revise growth projections: Industry experts
According to experts, the stubborn retail inflation, which has remained above the comfort level of the RBI of around 4 per cent, will refrain the central bank from reducing interest rate on Friday.
Dhruv Agarwala, Group CEO, Housing.com, Makaan.com and Proptiger.com, said the RBI has taken several favourable measures this year for the real estate sector. "However, the hopes have not died down as a lot needs to be done." "The sector is, obviously, looking at a further reduction in home loan interest rates. However, we feel that there is hardly a scope for a further rate cut this year. The sector should try to utilise the opportunities coming out of the decisions taken by the RBI in the last few months," he said.
A report by Yes Bank said though India has officially entered into a technical recession with second-quarter GDP print, "we believe that we are past the nadir in India's growth trajectory. The sharper than expected recovery in key economic indicators is suggestive of this view".
RBI likely to maintain 'accommodative' stance in ongoing policy review: Assocham
The Reserve Bank of India's (RBI) key focus in the ongoing policy review meeting is likely to be on "ensuring adequate liquidity" in the system while maintaining an "accommodative" stance, industry body Assocham on Thursday said.
It also said that the accommodative stance would reflect the RBI's commitment to keep the lending rates benign to support growth, hit by the COVID-19 pandemic. "Focus of the bi-monthly review of the credit policy by the RBI monetary policy committee is expected to be ensuring adequate liquidity into the system, retaining the policy stance as accommodative," Assocham said.
The RBI has done a commendable job in handling the situation arising out of the pandemic, it said. It has reached out to a number of sectors like mutual funds, realty, NBFCs and MSMEs, besides the all-encompassing moratorium on loan repayments, Assocham Secretary General Deepak Sood said in a statement.
MPC decides to maintain accommodative stance as long as necessary to prop up economic growth, says Governor Das
MPC decided to continue with accommodative stands of monetary policy as long as necessary, at least till current financial year & into next year to revive growth on a durable basis & mitigate the impact of COVID-19 while ensuring that inflation remains within target: RBI Governor
Marginal standing facility and bank rate remains unchanged at 4.25 per cent
The Marginal Standing Facility (MSF) rate and the bank rate remain unchanged at 4.25%. The reverse repo rate remains unchanged at 3.35%, said RBI Governor Shaktikanta Das.
Real GDP growth for 2021 projected at minus 7.5%
The real GDP growth for 2021 is projected at minus 7.5%. The recovery in rural demand is expected to strengthen further while urban demand is also gaining momentum, said RBI Governor Shaktikanta Das.
Will use various instruments at appropriate time to ensure ample liquidity is available in system: RBI Guv
Expect growth in Q3 and Q4 to move in positive territory, says Das
We are projecting GDP growth for Q3 at +0.1% and +0.7% for Q4, said RBI Governor Shaktikanta Das.
Inflation likely to remain elevated, with some relief in winter
Monetary Policy Committee (MPC) was of the view that inflation is likely to remain elevated with some relief in the winter months from prices of perishables and bumper Kharif arrivals: RBI Governor Shaktikanta Das
Rupee rises 16 paise to 73.77 against US dollar as RBI maintains status quo on interest rate
The rupee appreciated by 16 paise to 73.77 against the US dollar in the opening session on Friday as the Reserve Bank of India maintained status quo on benchmark interest rate for the third time in a row. At the interbank forex market, the domestic unit opened at 73.81 against the US dollar and gained ground to touch a high of 73.77 against the greenback, registering a rise of 16 paise over its previous close. On Thursday, the rupee had settled at 73.93 against the American currency.
RBI projects 6.8 pc retail inflation in December quarter
he Reserve Bank of India on Friday said retail inflation is likely to remain elevated and pegged it at 6.8 per cent for the third quarter of the current fiscal. RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) is of the view that inflation is likely to remain elevated, barring transient relief in the winter months from prices of perishables.
Economy has recovered much faster than anticipated, says Governor Shaktikanta Das
The economy has recovered much faster than anticipated, details will be shared in the financial stability report which is due in the last week of December: RBI Governor Shaktikanta Das on being asked about COVID19 impact on the financial system.