The general strike in Delhi to protest against the killings in Punjab and Haryana and the inability of the government to deal with extremist violence was a success as most markets, business establishments and industrial units remained closed for the entire day.
1st monetary policy after budget announcement.
New Delhi: The Reserve Bank of India is all set to announce the Monetary Policy on Friday and is likely to hold interest rates and continue with accommodative policy stance.
This is the first monetary policy announcement after the presentation of the Union Budget 2021-22.
The Reserve Bank s rate-setting Monetary Policy Committee (MPC) began its meeting on Wednesday. The six-member MPC headed by RBI Governor Shaktikanta Das has started its deliberations. After the three-day meeting, resolution of the MPC would be announced today (February 5).
The MPC kept the key benchmark rate unchanged in its last three reviews. The current repo rate rate at which RBI lends to banks is at a record low of 4 per cent. The reverse repo rate rate for funds parked by banks with RBI is 3.35 per cent.
RBI Keeps Key Rates Unchanged, Assures Ample Liquidity In System RBI Keeps Key Rates Unchanged, Assures Ample Liquidity In System The central bank had last cut its policy rates on May 22, 2020, in an off-policy cycle, when Covid-19 posed an unprecedented challenge to the economy
The policy decision comes at the end of first meeting of six-member MPC after Budget 2021. Reserve Bank of India (RBI) Governor Shaktikanta Das said the Monetary Policy Committee (MPC) has decided to maintain key policy rates at existing levels, saying that the need of the hour is to back growth. The Reserve Bank kept the repo rate unchanged at 4 per cent and reverse repo rate untouched at 3.35 per cent. Mr Das also gave an assurance that the central bank would continually support the economy s recovery from the pandemic by ensuring ample liquidity in the system. The policy decision comes at the end of the first meeting of the six-member Monetary Policy Committee (MPC) after
Highlights
Reverse repo rate at 3.35 percent.
RBI continues with its accomodative stance.
New Delhi: The EMIs on home and auto loans are unlikely to come down in the near term as the Reserve Bank of India on Friday kept the key policy rates unchanged in its bi-monthly Monetary Policy review.
The central bank announcing the outcome of its bi-monthly Monetary Policy rates on February 5 said that it has decided to keep the repo rate unchanged at 4 percent and the reverse repo rate at 3.35 percent. The monetary policy committee also decided to continue with its accomodative stance.
This is the first monetary policy announcement after the presentation of the Union Budget 2021-22. The Reserve Bank s rate-setting Monetary Policy Committee (MPC) began its meeting on Wednesday. The six-member MPC headed by RBI Governor Shaktikanta Das has started its deliberations. After the three-day meeting, resolution of the MPC was announced today (February 5).
This is the first MPC meeting after the presentation of the Union Budget 2021-22. Although the bi-monthly monetary to be announced on February 5 is likely to refrain from cutting benchmark repo rate, it will ensure availability of adequate liquidity which will be needed to spur investment in the infrastructure sector. The six-member MPC headed by RBI Governor Shaktikanta Das has started its deliberations. After the three-day meeting, resolution of the MPC would be announced on February 5. The MPC kept the key benchmark rate unchanged in its last three reviews. The current repo rate rate at which RBI lends to banks is at a record low of 4 per cent. The reverse repo rate rate for funds parked by banks with RBI is 3.35 per cent.