While announcing the third bi-monthly monetary policy review Friday, RBI Governor Shaktikanta Das said reduction on lending rate has reduced the burden on households.
The RBI Governor said that the central bank will soon be coming out with the first financial inclusion index, which will assess progress in terms of access, usage and quality.
The country's foreign exchange reserves rose by $2.865 billion to a record high of $592.894 billion for the week ended 21 May, boosted by gold and currency assets, as per RBI data.
This is the sixth time in a row that Monetary Policy Committee headed by RBI Governor Shaktikanta Das has maintained status quo. RBI had last revised its policy rate in May 2020.
Going forward, the food inflation trajectory will critically depend on the temporal and special progress of southwest monsoon in the 2021 season, RBI Governor Shaktikanta Das said.
RBI Governor Shaktikanta Das says recent surge in infections has lent greater uncertainty to growth outlook, and warns regional lockdowns could dampen recent improvement in demand.
RBI governor Shaktikanta Das has indicated there is no immediate threat to forecast of economy expanding by 10.5%, but could still flag downside risks given spike in virus cases.
Shaktikanta Das said that while revenue pressures on the govt is understandable, the impact on inflation also comes in from the fact that fuel prices affect manufacturing.
RBI Governor Shaktikanta Das says the MPC is of the view that it is important to revive growth on a durable basis while ensuring inflation remains within the targeted levels.
According to government reply in Lok Sabha, the pilot phase of PMIS is being used to test concepts, strategies and systems before a full-scale implementation of the scheme.
Order for 87 MALE drones will be split between 2 Indian firms in 64:36 ratio to ensure there are 2 independent manufacturing lines with at least 60% indigenous components.
The India-South Africa series-defining fact is the catastrophic decline of Indian red ball cricket where a visiting team can mock us with the 'grovel' word.
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