11.8 C
New York
Thursday, February 25, 2021
Home Stories Highlights of RBI monetary policy announcements

Highlights of RBI monetary policy announcements

Following are the highlights of the RBI monetary policy announced by RBI Governor Shaktikanta Das on Friday:

* Interest rates left unchanged for 4th time in a row;

* Short-term lending rate (repo) stands at 4 pc;

* RBI decides to continue with accommodative stance as long as necessary;

* RBI Guv says Indian economy is poised to move in only one direction and that is upwards;

* RBI projects GDP growth at 10.5 pc for 2021-22;

* RBI revises retail inflation outlook; 5.2 pc for Q4:2020-21, 5 pc in H1:2021-22 & 4.3 pc for Q3:2021-22;

* Guv Das says Union Budget has provided strong impetus for revival of sectors like health, infrastructure;

* RBI to restore CRR to 4 pc in two phases beginning March 2021;

* RBI proposes to provide funds from banks under TLTRO on Tap scheme to NBFCs for incremental lending;

* RBI announces new scheme to incentivise new credit flow to MSME;

* RBI to set up panel to provide a medium term road map for strengthening of Primary (Urban) Co-operative Banks;

* Retail investors to get direct access to government securities market; with this India will join select countries providing such facility;

* Round-the-clock helpline for digital payment services to be set-up for grievance redressal;

* RBI will integrate all Ombudsman schemes & introduce centralised processing of grievances;

* Next meeting of the RBI Guv headed rate-setting panel MPC to take place during April 5 to 7.

READ  How household finances & savings will get impacted by RBI’s policy announcement
- Advertisment -

Most Popular

Recent Comments

%d bloggers like this: