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Topic: Repo Rate
RBI projects growth for 2020-21 at 6%. Repo rate retained at 5.15% and reverse repo rate at 4.9%.
RBI's monetary policy committee retains repo rate at 5.15% & reverse repo at 4.9% in a unanimous decision, notes 'there is space for future action'.
RBI Governor Shaktikanta Das said policy makers will continue with the "accommodative stance" while ensuring inflation remains within the target.
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The govt should restore Department of Economic Affairs’ role of pushing for reform & productivity growth by looking beyond short-term & sectoral issues.
With the economy facing a slowdown, the Reserve Bank of India Wednesday cut the repo rate by 35 basis points in its fourth consecutive policy rate cut this year.
RBI’s monetary policy committee says addressing growth concerns remains highest priority as domestic economic activity continues to be weak.
RBI Monetary Policy Committee cut the interest rate by 25 basis points Thursday, and changed its policy stance from 'neutral' to 'accommodative'
A 10 basis points cut would hardly have any impact on the Indian market. Instead, RBI needs to consider bigger cuts to impact interest rates.
Govt officials were quick to praise the cut but economists are concerned that the monetary & fiscal stimulus would be inflationary.
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