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RBI monetary policy LIVE: RBI keeps repo rate at 6%, flags inflation risks

RBI sees pick in credit growth due to bank recapitalisation and resolution proceedings under IBC

BS Web Team  |  New Delhi 

RBI said that recapitalisation of public sector banks along with resolution of stressed assets under the Insolvency and Bankruptcy Code (IBC) will create demand for fresh investments.   "GVA (Gross Value Added) growth for 2017-18 is projected at 6.6 per cent," it said. Viral Acharya, deputy RBI Governor The objective of the liquidity operations conducted by the Reserve Bank of India (RBI) are not to manage the price of bonds, but to drive its monetary policy goals, Deputy Governor Viral Acharya, said on Wednesday after the central bank's monetary policy meeting, damping expectations of bond purchases by the central bank. Highlights of RBI policy: Q4FY18 inflation projection raised to 5.1% Following are the highlights of the RBI's 6th bi-monthly monetary policy statement: * Key lending rate (repo) unchanged at 6% * Reverse repo rate remains at 5.75% and marginal standing facility (MSF) rate and Bank Rate at 6.25% * Monetary policy's stance neutral * Petrol and diesel prices rose sharply in Jan, reflecting lagged pass-through of past increases in global crude prices * Retail inflation estimated at 5.1% in Q4 this fiscal and 5.1-5.6% in H1 of FY2018-19 There are five taxes on capital which will have an impact   There are five taxes on capital which will have an impact on investments: RBI Governor Urjit Patel. "The focus of the Union Budget on the rural and infrastructure sectors is a welcome development as it would support rural incomes and investment, and in turn provide a further push to aggregate demand and economic activity," it said. RBI lowers economic forecast to 6.6% for FY18 RBI lowered the economic growth projection for 2017-18 to 6.6 per cent, but said that it will accelerate to 7.2 per cent in the next financial year as the roll-out of GST stabilises and credit offtake improves.

The Reserve Bank kept the key policy rate unchanged at 6 per cent for the third consecutive time today in view of firming inflation. The Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel had last reduced the benchmark lending rate by 0.25 percentage points to 6 per cent last August, bringing it to a 6-year low. In its December review, the MPC had kept the benchmark interest rate unchanged on concerns of a possible price rise but had left the door ajar for a rate cut in future. Retail inflation crossed the RBI's comfort level and rose to 5.21 per ...

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First Published: Wed, February 07 2018. 14:08 IST
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RBI sees pick in credit growth due to bank recapitalisation and resolution proceedings under IBC

The Reserve Bank kept the key policy rate unchanged at 6 per cent for the third consecutive time today in view of firming inflation. The Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel had last reduced the benchmark lending rate by 0.25 percentage points to 6 per cent last August, bringing it to a 6-year low. In its December review, the MPC had kept the benchmark interest rate unchanged on concerns of a possible price rise but had left the door ajar for a rate cut in future. Retail inflation crossed the RBI's comfort level and rose to 5.21 per ...

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