Most in RBIs external panel recommended rates stay on hold

Members of the RBI's Technical Advisory Committee also expressed concerns about the impact from a planned USD 16 billion pay hike for India's public servants set to be unveiled starting this year, according to minutes released on Monday.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney
moneycontrol.com

Home » News » Economy

Feb 23, 2016, 01.13 PM | Source: Reuters

Most in RBI's external panel recommended rates stay on hold

Members of the RBI's Technical Advisory Committee also expressed concerns about the impact from a planned USD 16 billion pay hike for India's public servants set to be unveiled starting this year, according to minutes released on Monday.

Like this story, share it with millions of investors on M3

Most in RBIs external panel recommended rates stay on hold

Members of the RBI's Technical Advisory Committee also expressed concerns about the impact from a planned USD 16 billion pay hike for India's public servants set to be unveiled starting this year, according to minutes released on Monday.

Post Your Comments

Share Cancel

Most in RBIs external panel recommended rates stay on hold
Four out of the five members in the Reserve Bank of India's (RBI) external panel recommended the central bank keep interest rates on hold at its February 2 policy review, given concerns about accelerating inflation.

Members of the RBI's Technical Advisory Committee also expressed concerns about the impact from a planned USD 16 billion pay hike for India's public servants set to be unveiled starting this year, according to minutes released on Monday.

Of the four who recommended rates be kept on hold, one suggested the RBI consider an out-of-cycle cut after the government unveils its 2016/17 budget on February 29, citing a weak domestic and global economy.

One member, however, recommended the RBI cut rates by 50 basis points on February 2.

The RBI had cut its key repo policy rate by 125 bps last year but held it at its February 2 review, opting to wait until after the government's annual budget statement at the end February.

The RBI's external panel has no say on monetary policy decisions, though its recommendations are taken into account by RBI Governor Raghuram Rajan.

Buy, Hold, Sell ? Hear it first on M3
Most in RBIs external panel recommended rates stay on hold

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login