RBI may not cut lending rate; announce other measures to boost growth

The RBI may refrain from cutting the benchmark lending rate on Thursday but can announce other measures like restructuring of loans amid the urgency to revive the coronavirus-hit economy, experts said.

The six-member Monetary Policy Committee (MPC), headed by the RBI Governor, is scheduled to announce its decision on August 6. This is the 24th meeting of the MPC.

Although opinions are divided on the rate cut, experts believe loan restructuring is more essential at this juncture to combat the impact of Covid-19.

"The focus is on restructuring. Finance ministry is actively engaged with RBI on this. In principle, the