RBI on Friday kept the policy repo rate unchanged at 6.5 per cent
The Monetary Policy Committee voted 5:1 in favour of the state quo on rates.
The S&P BSE Sensex Index has tumbled 9.6% since reaching a record in August
An area where the RBI has been factual is banking. While highlighting challenges of banks as regards capital and asset quality, it has highlighted its reposition process which was put in place in Feb
Nevertheless, India would probably remain one of the fastest growing large economies in the world
This is the second consecutive time the repo rate was hiked. In June, the repo rate was raised for the first time in over four years.
The report has been authored by Dr Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI
Centre believes there will be green signal for amending the law to enable the policy
RBI has already over-achieved its inflation mandate; it needs to focus more on its growth objective
In India, the credit market is also unaffected by unconventional monetary policies
Central bank considers issuing digital currency, sets up panel which will submit report by June
The GDP model gives the picture from the consumers' side or demand perspective
The RBI has maintained the status-quo on the key short-term borrowing rate (repo) in its last three policy meets.
The six-member MPC is widely expected to keep the repo rate unchanged at 6 per cent on Thursday.
The April policy, being the first one of the new fiscal year, is important as it spells out overall path of the policy and outlook on aspects such as inflation and growth
Export growth expected to improve further on account of improving global demand
Five on the six-member monetary policy committee voted for the decision, with one seeking a hike
The RBI meanwhile fixed the reference rate for the dollar at 64.2723 and for the euro at 79.5241
The outcome of the 6-member MPC meeting is being keenly awaited by stakeholders amidst a huge sell-off in the stock markets globally
Governor Urjit Patel needs to keep interest rates low to ensure Prime Minister Narendra Modi can bridge a widening fiscal deficit