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Synopsis
The rates have been kept at a record low, and some of the current lending schemes have been extended to fuel growth.
Monetary Policy highlights: RBI restores CRR, allows online access to government securities market
NEW DELHI: The Reserve Bank of India (RBI) on Friday took a calculated approach and announced a number of measures which will not just infuse more money in the system but also create a path towards normalcy.
The rates have been kept at a record low, and some of the current lending schemes have been extended to fuel growth. The RBI also created avenues for more retail participation in funding India’s growth. However, the policy announcement failed to assuage the debt market which is fearing a rise in yields.