As the August print shows, the CEA’s “expectation” has clearly gone wrong on the course of retail inflation.
In the last two consecutive quarters (January - March of FY 2019-20 and April - June of FY 2020-21), the average consumer price index-based inflation breached 6 per cent. The MPC need to target inflation to keep it within 4 per cent, within a band of +/- 2 per cent
Move ‘much needed’ and will go along way in relieving the real estate sector battling liquidity issues in COVID-19 times, realty experts said
The central bank has also asked payment providers to offer an online dispute resolution mechanism to address consumer grievances.
Read the full statement of RBI governor Shaktikanta Das
Reserve Bank of India’s Governor Shaktikanta Das has announced introduction of an online dispute resolution mechanism for digital payments.
Commercial papers of non-banking finance companies have softened to 3.80 percent on July 31, 2020, Das said.
RBI governor Shaktikanta Das says the regulatory response has to be dynamic, proactive and balanced during the COVID-19 crisis.
Restructuring of MSME debt will be implemented by March 31, 2021, RBI Governor Shaktikanta Das said.
The relaxation will be available till Mach 31, 2021, RBI Governor Shaktikanta Das said.
Shaktikanta Das said the additional liquidity will help the non-banking finance companies as well a the housing sector to tide over the crisis caused by COVID-19.
The Reserve Bank of India’s Monetary Policy Committee (MPC) is announced its decision on the repo rate.
Reserve Bank of India’s Monetary Policy Committee kept the repo rate unchanged at 4 percent and maintained the stance as accommodative.
The MPC had convened for this three-day meeting on August 4-6.
RBI Monetary Policy LIVE Updates: The Reserve Bank of India’s Monetary Policy Committee (MPC) has kept the repo rate unchanged at 4% amidst COVID-19
Forget forecasting, even compiling inflation numbers for the next few months could be challenging
Members not sure about durability of green shoots, call for structural reforms.
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The central bank also extended the deadline to classify non-performing loans (NPAs) as standard by a year in cases of commercial real estate
Maintaining surplus liquidity for better transmission, says Shaktikanta Das
The MPC will also have to consider the rise in output prices shown by the PMI index
There are precedents for Operation Twist in the US and in Japan
RBI should find ways to tackle the trust deficit in the banking system while the government should put more money into the hands of the people. That’s the way out of the economic slowdown.
The gauge of private sector activity indicates a rebound after two months of contraction
The monetary policy committee has cut repo rate by 25 bps to 5.15 percent