Observing that it was difficult to make growth projections at this point of time, the Reserve Bank in its Monetary Policy Report said the lockdown following the outbreak of COVID-19 and expected contraction in global outlook would weigh heavily on the growth outlook.
SBI Loan Moratorium: State Bank of India (SBI), India's largest lender has good news for its customers, amid coronavirus crisis. SBI Bank has announced all its term loan borrowers a three-month moratorium for its customers under the terms of a COVID 19- RBI package announced on Friday. We bring to you complete details of SBI EMI moratorium.
Prime Minister Narendra Modi on Friday said the Reserve Bank of India (RBI) had taken giant steps to safeguard the economy from the impact of the coronavirus. The RBI cut the benchmark interest rate by 75 basis points to 4.4 per cent on Friday to deal with the hardship caused due to the outbreak of COVID-19.
RBI Monetary Policy: The Reserve Bank of India maintained its status quo by keeping repo rate unchanged at 5.15 per cent saying it will continue with the accommodative stance as long as it takes.
Amid concerns of a slow down in the economy, the central bank lowered its gross domestic product (GDP) forecast to 7 per cent for the current fiscal from 7.2 per cent projected earlier.
The 30-share Sensex stayed in the negative zone for the whole day and ended at 37,165.16, showing a loss of 356.46 points, or 0.95 per cent.
Following are the highlights of the third bi-monthly monetary policy statement of 2018-19 issued today by the Reserve Bank of India:
For the second time in two months, the RBI’s Monetary Policy Committee raised the benchmark lending rate by 0.25 per cent.
As per the RBI, the growth would be in the range of 7.5-7.6 per cent in first half of the fiscal and 7.3-7.4 per cent in October-March 2018-19 period "with risks evenly balanced".
On MSP hike, RBI said there is a considerable uncertainty and the exact impact would depend on the nature and scale of the government's procurement operations.
Announcing the policy review, the RBI said its decision is consistent with the neutral stance of the central bank aimed at achieving its median inflation target of 4%.
New Delhi: Following are the highlights of RBI's bi-monthly monetary policy statement:Short-term lending (repo) rate unchanged at 8 per centCash reserve ratio (CRR) unchanged at 4 per centStatutory liquidity ratio (SLR) retained at 22 per
New Delhi: Finance Minister Arun Jaitley today pitched for an interest rate cut, expressing confidence that the RBI will move in the direction of making the cost of capital reasonable to help perk up economy."The
Pune: The monetary policy announced today indicates that the RBI is of keeping a close eye on inflation rather than facilitating growth just as yet. This makes sense. Globally, emerging markets (including India) continue to
Mumbai: Concerned over impact of weak monsoon on food price, RBI today decided to keep the key policy rate unchanged but slashed statutory liquidity ratio (SLR) by 0.5 per cent to unlock about Rs 40,000
Mumbai: Shares succumbed to heavy selling as investors turned cautious and booked profits in rate sensitive counters ahead of the RBI monetary policy, dragging the benchmark index Nifty down by 44 points on the National
Mumbai: In a range-bound session, the rupee trimmed initial gains and ended six paise lower at 61.52 against the dollar today, in line with a fall in local equities ahead of the RBI's policy review
Mumbai,Jan 1: The Reserve Bank of India (RBI) on Tuesday said the monetary policy department will directly report to Governor D. Subbarao till further orders as Subir Gokarn, who was handling it, retired from the
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