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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. ....
Read more about RBI maintains status quo for fourth time, keeps policy rate unchanged at 4% on Business Standard. The reverse repo rate will also continue to earn 3.35 per cent for banks for their deposits kept with the RBI ....
What changed for the market while you were sleeping? Top 10 things to know Trends on SGX Nifty indicate a positive opening for the index in India with a 52 points gain. Representative image The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index in India with a 52 points gain. The S&P BSE Sensex climbed 358.54 points to 50,614.29 on February 4 while the Nifty50 rose 105.70 points to 14,895.70. According to pivot charts, the key support levels for the Nifty are placed at 14,769.1, followed by 14,642.5. If the index moves up, the key resistance levels to watch out for are 14,968 and 15,040.3. ....
Read more about RBI MPC highlights: Rates, stance unchanged, CRR to be restored, and more on Business Standard. Projection for CPI-based inflation revised to 5.2% for Q4 of FY21, for H1 of FY22 at 5% to 5.2%, and for Q3 of FY22 at 4.3% ....
In October last year, the RBI had announced on tap targeted long term repo operations (TLTRO) scheme for banks. It had said to conduct on tap TLTRO with tenors of up to three years for a total amount of up to Rs one lakh crore at a floating rate linked to the policy repo rate. The scheme is available till March 31, 2021. ....