Mumbai: After the Reserve Bank of India slashed the key lending rate by 35 basis points to 5.4 per cent; Governor Shaktikanta Das termed the cut a balanced
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Mumbai: After the Reserve Bank of India slashed the key lending rate by 35 basis points to 5.4 per cent; Governor Shaktikanta Das termed the cut a balanced
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Lots of videos and lots more in the pipeline. Stay tuned.Watch 35-basis-point rate cut a ‘balanced call’: RBI Governor With HD Quality
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On interest rate transmission, Reserve Bank Governor Shaktikanta Das said it used to take up to six months for an interest rate cut to be transmitted to consumers but things have improved, and now it is taking shorter time, he said. Of the 50 basis points cut in interest rate announced by the RBI prior to the June monetary policy, about 21 basis points had been transmitted, he said, hoping better transmission of interest rate cuts in coming weeks and months.
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The Reserve Bank of India (RBI) Governor Shaktikanta Das Wednesday termed the steeper 0.35 percent repo rate cut as a 'balanced' call given the domestic and global developments. He explained that a 0.25 percentage points reduction, as it has done thrice this year since February, would have been 'inadequate', while a 0.50 percentage points cut would have been 'excessive'. The six-member Monetary Policy Committee (MPC) for the fourth consecutive times in a 4:2 vote resolved to cut the rates by 0.35 percent, taking the total cuts during 2019 to 1.10 percent to a near record low of 5.40 percent. Watch this video to know more. (Text: PTI)
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