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Business News/ Industry / Banking/  LIVE: RBI keeps repo rate steady, projects GDP growth at 10.5% in FY22
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LIVE: RBI keeps repo rate steady, projects GDP growth at 10.5% in FY22

Indian economy is poised to move in only one direction that is upward: RBI Guv.

Reserve Bank of India Governor Shaktikanta DasPremium
Reserve Bank of India Governor Shaktikanta Das

The Reserve Bank of India Governor Shaktikanta Das on Friday announced the policy decision of the Monetary policy committee on Friday at 10 am.

The Monetary Policy Committee (MPC) of the Reserve Bank of India on Friday decided to keep repo rate unchanged at 4%. The Reserve Bank's MPC began its meeting on Wednesday.

RBI Credit Policy LIVE Updates

  • First objective is to protect domestic market against global spillovers, says RBI deputy governor Michael Patra.
  • Awaiting a formal proposal from govt on bad bank: RB
  • RBI will help smoothen govt's borrowing program: RBI Guv Das.
  • Demand is no more pent-up demand: RBI Guv Das.
  • Yield curve is public good for all sections: RBI Guv Das.
  • Macroeconomic situation is currently evolving: Guv Das.
  • Accommodative stance will continue into FY22: Guv Das.
  • Direct access to g-secs for retail investors is major structural reform: Guv Das.
  • Indian economy is poised to move in only one direction that is upward: RBI Guv.
  • An integrated ombudsman scheme to replace three separate ombudsmen for banks, NBFCs and pre-paid instrument issuers: RBI Guv.
  • Retail investors can buy government bonds through `RetailDirect' which allows them to open accounts and participate in primary and secondary g-sec market: RBI Guv. This will make India one of the few countries to allow such an access to trading in government securities, he said, adding that this is a major structural reform.
  • Retail investors allowed to open Gilt accounts: RBI Guv.
  • Will form expert panel to strengthen primary urban co-op banks: RBI
  • RBI projects CPI inflation at 5.2-5.0% in first half of FY22.
  • CPI inflation estimate has been revised to 5.2% for Q4FY21.
  • Stance of liquidity management continues to remain accommodative in line with monetary policy: RBI Guv.
  • Capacity utilisation in the manufacturing sector improved to 63.3% in Q2 vs 47.3% in Q1. FDI & FPI investments have surged in recent months, reposing faith in Indian economy: RBI.
  • Petroleum product prices have reached historic highs on account recent surge in crude prices: Guv Das.
  • Govt to review inflation target for RBI by March 2021; inflation targeting has worked well: RBI Guv Das.
  • 2021 is setting the stage for a new economic era in the course of our history.
  • 2021 has begun on a strong note, says RBI governor.
  • RBI projects FY'22 GDP at 10.5%: RBI.
  • Budget has provided impetus to health and infra sectors: RBI Guv Das.
  • While the year 2020 tested our capabilities and endurance, 2021 is setting the stage for a new economic era in the course of our history: RBI Governor Shaktikanta Das
  • The need of the hour is to continue supporting growth: Governor Shaktikanta Das.
  • Inflation has eased below the tolerance level of 6%. Outlook on growth has improved significantly: Reserve Bank of India Governor Shaktikanta Das.
  • Consumer confidence is reviving: Guv Das.
  • Outlook on growth has improved significantly: Guv Das.
  • RBI Governor Shaktikanta Das said the MPC voted unanimously to keep the policy rates unchanged. The “accommodative" policy stance remains unchanged.
  • The reverse repo rate stays at 3.35 per cent.
  • A post-policy press conference will be held at 12 pm.
  • The RBI had last revised its policy rate on May 22, 2020, in an off-policy cycle to perk up demand by cutting interest rate to a historic low. The central bank has cut policy rates by 115 basis points since February last year.
  • This is the first MPC meeting after the presentation of the Union Budget 2021-22.
  • Although the bi-monthly monetary is likely to refrain from cutting the benchmark repo rate, it will ensure availability of adequate liquidity which will be needed to spur investment in the infrastructure sector.

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Published: 05 Feb 2021, 09:53 AM IST
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