The Reserve Bank of India on Friday announced monetary policy. It last hiked the repo rate to 6.5 per cent in February 2023 and since then it has held the rate at the same level.
Reserve Bank of India Governor Shaktikanta Das said there was "hardly any room" to review the action taken against Paytm Payments Bank.
The RBI announced its decision to keep the repo rate unchanged for the sixth consecutive time at 6.50 per cent.
The real GDP growth for FY25 is forecast at 7 per cent, with growth rates of 7.2 per cent and 6.8 per cent expected in the June and September quarters.
The RBI has kept the repo rate steady at 6.50 per cent over the past year, last raising it in February 2023 from 6.25 per cent.
The governor said that structural reforms by the government in recent years have boosted the medium- and long-term growth prospects of the economy.
Speaking at the World Economic Forum annual meeting in Davos, the governor expressed confidence in the effectiveness of monetary policy, stating that core inflation has been steadily decreasing.
The governor's comments were made in response to the recent approval by the US Securities and Exchange Commission for the creation of bitcoin exchange-traded funds (ETFs) in the United States.
Das has been placed at the top of the list of three central bank governors who have been rated A+.
The Rs 2,000 currency notes were introduced in the market after Modi government's demonitisation move when Rs 500 and Rs 1,000 currency notes were banned in November 2016.
RBI rate hike: In a report, the Germany-based bank said the RBI will respond with a slower pace of rate hikes from here, basing the expectation on the recently released minutes of the last meeting of the Monetary Policy Committee (MPC).
RBI on Friday kept the benchmark interest rate unchanged at 4 per cent and decided to continue with its accommodative stance despite rising inflation.
Shaktikanta Das was appointed as the Reserve Bank of India (RBI) Governor in December 2018.
RBI has decided to leave benchmark interest rate unchanged at 4 per cent. This is the sixth time in a row that RBI has maintained status quo.
RTGS, which started on March 26, 2004 with a soft launch involving four banks, presently handles 6.35 lakh transactions daily for a value of Rs 4.17 lakh crore across 237 participant banks.
RBI Governor Shaktikanta Das made the announcement while announcing the decisions taken by RBI's Monetary Policy Committee (MPC).
Monetary Policy Committee (MPC) voted unanimously to keep the policy repo rate unchanged at 4 per cent and continued with its accommodative stance to support growth. The committee, which has cut rates by 115 basis points since the Covid-19 crisis hit in March, has kept rates on hold since May.
Speaking at the annual day event of Foreign Exchange Dealers' Association of India (FEDAI), Das said there are downside risks to growth across the world and also in India.
Shaktikanta Das, Reserve Bank of India (RBI) Governor, tested positive for COVID-19 on Sunday.
RBI Governor Shaktikanta Das has said the risk of a second wave of COVID-19 could put sand in the wheels of the nascent recovery while his deputy M D Patra opined that it might take years to regain the output lost on account of the pandemic.
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