In a unanimous decision by Monetary Policy Committee, the RBI on Thursday cemented its position as Asia’s most dovish central bank with a third straight interest-rate cut. It also changed its stance from neutral to accommodative keeping hope for a further rate cut. RBI also removed charges for payments via NEFT and RTGS and asked banks to pass on the benefits to customers. Here are key highlights of the RBI Governor, Shaktikanta Das press conference. Watch
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Watch Key RBI announcements: 25 bps rate cut, ATM charge review and no NEFT RTGS transaction charge With HD Quality.
In a unanimous decision by Monetary Policy Committee, the RBI on Thursday cemented its position as Asia’s most dovish central bank with a third straight interest-rate cut. It also changed its stance from neutral to accommodative keeping hope for a further rate cut. RBI also removed charges for payments via NEFT and RTGS and asked banks to pass on the benefits to customers. Here are key highlights of the RBI Governor, Shaktikanta Das press conference. Watch
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Watch Key RBI announcements: 25 bps rate cut, ATM charge review and no NEFT RTGS transaction charge With HD Quality
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At a press meet after the three-day Monetary Policy Committee meet, RBI Governor Shaktikanta Das announced the fifth consecutive repo rate cut of 25 basis points while maintaining an accommodative stance and slashing projected GDP for ro19-20 from 6.9% to 6.1%. Here are the key announcements from the press meet. Watch
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Watch RBI MPC slashes GDP projection, announces 5th consecutive rate cut of 25 bps With HD Quality
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The Reserve Bank of India's money policy announcement was largely on expected lines, but analysts felt the rate cut would not do much either for growth push or to help market sentiment. In an interview with Pranbihanga, Associate Editor, ET.com, Mythili Bhusnurmath, Consulting Editor, ETNOW, does a deep dive to tell you what is in it for you and me.Watch RBI neither here, nor there with 25 bps rate cut With HD Quality
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RBI's decision to lower benchmark interest rate will boost investment and buttress consumer spending amid 'growth concerns', provided banks transmit the reduction, industry veterans said Thursday. The central bank also revised downwards its GDP growth forecast for 2019-20 to 7.2 per cent from 7.4 per cent predicted in the February policy.
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With economic growth likely to slow down in the March quarter 2019, the RBI may cut repo rate by 25 basis points in the upcoming monetary policy review, analysts say. The Reserve Bank will announce its second bi-monthly monetary policy for the current fiscal on June 6. This will be the first policy meet of the central bank after the Lok Sabha elections 2019.
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Watch RBI money policy: 25 bps rate cut on the cards With HD Quality
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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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