Coronavirus situation under control in Delhi, not terrible, says Kejriwal
Maruti reports 54% YoY decline in sales in June; sells less than 40% of pre-coronavirus level
Government Bans 59 Chinese Apps Including Tik-Tok, Shareit, UC Browser, and WeChat
PM Modi to address the nation at 4 pm: What to expect
Maharashtra Extends Lockdown Till July 31 Day After Urging Caution
Coronavirus Vaccine Update
Swarms Of Desert Locusts Reach Delhi Outskirts After Gurugram
Delhi fighting difficult battle against COVID-19, will emerge victorious: Kejriwal
2-Week Lockdown In Guwahati From Monday; Minister Says "Shop By Sunday"
YouTube likely to come up with TikTok-like short video platform
Rs 2,000 crore from PM CARES Fund to be spent on 50,0000 ventilators for COVID-19 patients
Baba Ramdev's Patanjali launches India's 'first Ayurvedic' medicine for coronavirus, Coronil
Coronavirus: Glenmark conducts Fabiflu trial on 1,000 patients; to compete with Gilead's Remdesivir
Jio's golden touch makes Reliance Industries share rise 108% in 3 months
Coronavirus vaccine: When will it be ready? Moderna, AstraZeneca offer answers
Chennai lockdown starts today: Check what is allowed, not allowed
Coronavirus vaccine: Singapore scientists discover 5 antibodies that can combat COVID-19
India-China tension: Indian Army releases list of 20 martyrs; wreath ceremony begins in Leh
Tamil Nadu announces 'maximised restricted lockdown' from June 19 in Chennai, 3 other districts
Maruti Suzuki's Alto becomes India's top-selling car for 16th year in a row

Latest Posts

Transmission of policy rate cuts steadily improving: Shaktikanta Das

latest business news

A customary post-budget central board meeting was held by the Reserve Bank of India on Saturday. The meeting was attended by Finance Minister Nirmala Sitharaman, RBI Governor Shaktikanta Das, MoS Anurag Thakur, and other RBI board members and government functionaries.

In the meeting, RBI Governor Das stated that the transmission of policy rate cuts has improved by 69bps and that momentum was gathering pace on credit growth.

On February 6, Das-led Monetary Policy Committee (MPC) maintained status quo in its latest policy announcement, in wake of rising inflation. The MPC, kept the repo rate unchanged at 5.15 per cent, for the second consecutive time this fiscal.

Prior to going for status quo on rates in December, the central bank had slashed rates five consecutive times that resulted in a cumulative 1.35 per cent decline in repo rate.

The Governor forecasted growth at 6 per cent for FY 21, which was in line with Economic Survey projection.

"We have given growth projection of 6 per cent for the next year, which is in line with Economic Survey projection," Das added.

He also stated that the Monetary Policy Framework was in operation for last three years. Das said that RBI would try to maintain enough liquidity for productive sector in the economy.

"Monetary Policy Framework is in operation for the last three years. Internally, we are reviewing and analysing how the MPC framework has worked. At an appropriate time,if required, we'll have dialogue and discussion with the government. At the moment it is under review within RBI".

The central bank governor also stated, "For greater transparency, RBI board meeting minutes will be uploaded on website".

On AGR dues, Das said that RBI was examinimg the case.

"I don't want to comment on it either this way or that; it's an internal matter which will be examined by the RBI".

Meanwhile, FM Sithraman on agricultural credit target said, "We expect the demand to grow and the credit requirements to meet up with it". The FM  said that she was closely monitoring banks and their extension of credit facility, particularly to the rural areas.

×

Alert Message

Ok
Please Wait...

Share the Opinion Poll with your Friends At

Ok

Share the Survey with your
Friends At

Ok
×

Statistics

Ok
No
×

Statistics

Ok