RBI will also purchase Rs 40,000 crore of government securities, comprising state development loans worth Rs 10,000 crore under the ongoing G-SAP 1.0 via an auction on June 17
RBI MPC meet: The RBI is likely to revise growth projections for FY22, which would be in line with a host of rating agencies, banks and brokerages estimates
MPC Meet Live Updates: Reserve Bank kept the repo rates unchanged at four per cent
Reserve Bank of India (RBI) Governor Shaktikanta Das announced the policy decision today, at the end of the scheduled review of the Monetary Policy Committee (MPC) that began on Wednesday, June 2, as it evaluates the economic impact amid the severity of the second wave of the COVID-19 pandemic. The Reserve Bank s monetary policy unanimously voted to maintain the repo rates - the key interest rates at which the RBI lends money to commercial banks - steady at four per cent. The reverse repo rate - the rate at which RBI borrows money from banks, was also unchanged at 3.35 per cent. (
The sudden call for deficit financing has gathered after the second Covid wave and its impact on the pace of economic recovery. The two successive years of Covid disruption have increased income inequality globally
After opening on a flat note, the 30-share BSE index was trading 59.24 points or 0.11 per cent higher at 52,291.67 in initial deals, and the broader NSE Nifty advanced 16.85 points or 0.11 per cent to 15,707.2